PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1501269
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1501269
The pasta segment is set to dominate the global pasta and couscous market, driven by increasing consumer demand for convenient, healthy, and affordable food options. This press release highlights the anticipated growth and factors contributing to the attractiveness of the pasta segment in the market.
High Revenue Share and Growth Forecast
The pasta segment is anticipated to account for a substantial share of the global pasta and couscous market over the forecast period. With a projected value significantly exceeding current figures, the segment is expected to grow at a steady CAGR, resulting in a notable increase in market value. The segment is projected to create significant absolute and incremental dollar opportunities, maintaining its dominance with a substantial revenue share.
Increasing Awareness of Pasta Benefits
The rising awareness regarding the benefits of pasta is likely to positively impact the pasta segment. Young consumers with hectic lifestyles prefer convenient, easy-to-cook, and affordable food options. Pasta, along with couscous, offers these conveniences, along with health claims such as being gluten-free and whole grain. Additionally, pasta is a popular healthy food option among families, especially those with children.
Demand from Working Women and Younger Population
The growing number of working women and younger populations with busy lifestyles in regions such as Asia Pacific and the Middle East prefer convenient and healthy food options. This trend is expected to drive the growth of the pasta segment over the forecast period. Rapid economic development has significantly improved the lifestyle of the middle-class section, increasing the number of working family members and disposable income, which has changed food consumption patterns.
Convenience Food Consumption on the Rise
The consumption of convenience foods is increasing, which is likely to fuel the growth of the pasta segment. The raw materials required for pasta production, such as wheat, barley, rice, and maize, are widely grown and easily available globally, creating a positive impact on the segment.
Shift Towards Healthy Food Options
Changing lifestyles and eating habits, along with increasing obesity, are resulting in a rapid consumer shift towards high-protein, gluten-free, and low-calorie food products. The demand for such healthy food options is rising significantly in countries such as the U.S., U.K., and Japan. Manufacturers are responding to this demand by offering value-added pasta and other convenience food products with additional nutritional benefits, driving robust development in the pasta segment.
Organized Retail Format Contribution
A substantial percentage of total revenue from pasta and couscous food products comes from the organized retail format. As economies grow, the retail chain is expanding rapidly, which is predicted to drive demand for pasta in developing economies.
Regional Market Insights
In North America, the pasta segment is anticipated to account for a relatively high revenue share in the pasta and couscous market over the forecast period. The segment is projected to see significant growth in value by the end of the forecast period. In Latin America, the pasta segment is expected to create considerable absolute and incremental dollar opportunities. Europe is also likely to witness steady growth in the pasta segment over the forecast period. In the Asia Pacific region, the pasta segment is projected to achieve a substantial market value.
Competitive Analysis
Market Segmentation
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By Raw Material
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