Packaged Food Market Predicted to Hit US$ 3,696 Billion by 2028

IMARC Group, a leading market research company, has recently releases report titled “Packaged Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global packaged food market analysis, size, growth, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

What is Packaged Food?

Packaged food refers to food products that have undergone processing, packaging, and sealing in factories or manufacturing facilities before they are made available for sale. These products are designed to be convenient, easy to store, and have a longer shelf life. Packaged foods can be found in various forms such as cans, boxes, bottles, pouches, and wrappers. Packaging plays a crucial role in preserving the quality, freshness, and safety of the food, as well as providing information about the product, such as ingredients, nutritional content, and expiration dates. The packaging also serves as a marketing tool, attracting consumers with eye-catching designs and branding.

The range of packaged food products is extensive and includes items like canned vegetables and fruits, frozen meals, bakery products, snacks, dairy products, sauces and condiments, ready-to-eat meals, breakfast cereals, beverages, and many more. These products cater to consumers’ demands for convenience, time-saving options, and on-the-go consumption.

How Big Is the Packaged Food Market?

The global packaged food market size reached US$ 2,259 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3,696 Billion by 2028, exhibiting a growth rate (CAGR) of 8.05% during 2023-2028.

Global Industry Trends and Drivers:

The packaged food market is driven by several industry trends and drivers. One significant trend is the increasing demand for convenience and time-saving food options. With busier lifestyles and changing dietary habits, consumers are seeking ready-to-eat or easy-to-prepare packaged food products that offer quick and hassle-free meals. Another driver is the growing urbanization and the rise of the working population. As more people move to urban areas and have less time for cooking, packaged foods provide a convenient solution. These products are often designed to be portable, allowing consumers to consume meals on the go.

Moreover, health-conscious consumers are fueling the demand for packaged food products that offer nutritional value and healthier ingredient profiles. There is a rising preference for products with reduced sugar, sodium, and artificial additives. Additionally, the demand for organic, gluten-free, and plant-based options is increasing, reflecting changing consumer lifestyles and dietary choices. The expansion of e-commerce and online grocery platforms is also driving the growth of the packaged food market. Consumers can easily access a wide variety of packaged food products through online channels, providing them with greater convenience and choice.

What Is Included In Market Segmentation?

The report has been segmented the market into following categories:

Breakup by Product Type:

Bakery Products
Dairy Products
Beverages
Breakfast Products
Meals
Others

Breakup by Distribution Channel:

Supermarket/Hypermarket
Specialty Stores
Convenience Stores
Online Retail Stores
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The report provides a comprehensive analysis of the industry key players listed below:

Conagra Brands Inc., Danone S.A., General Mills Inc., Hormel Foods Corporation, JBS S.A., Kellogg Company, Maple Leaf Foods Inc, Nestle S.A, PepsiCo Inc., The Coca-Cola Company, The Kraft Heinz Company, Tyson Foods Inc. and WH Group Limited.

Key highlights of the Report: