September 15, 2023
(press release)
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The global pasta market size was USD 45.92 billion in 2022. The market is projected to grow from USD 48.17 billion in 2023 to USD 68.97 billion by 2030, exhibiting a CAGR of 5.26% during the forecast period 2023-2030. Fortune Business Insights™ presents this information in its report titled, “Pasta Market Size, Share & COVID-19 Analysis, By Product Type (Dried, Chilled, and Canned), Raw Material (Wheat and Gluten-free), Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Stores, and Others), and Regional Forecast, 2023 – 2030”. Pasta is a globally consumed, affordable, and easy-to-cook food product. Global pasta producers continuously develop and manufacture new products comprising various raw materials. The growing past evolution drives the pasta market growth during the forecast period. Increased Pasta Consumption During Pandemic Aided Market Growth The COVID-19 pandemic positively affected the market growth due to increased pasta consumption, including fettuccini, linguini, and spaghetti. During the pandemic, consumers stockpiled pasta products with high shelf life, including dried linguini. The manufacturers ensured the distribution of the products was not affected during the pandemic. On the contrary, pasta producers faced labor shortages and logistic disruptions due to COVID-19 restrictions. Modi Naturals Ltd. Launched Its New Pasta Range Products In December 2021, Modi Naturals Ltd. launched its pasta range products strategically to capture larger consumer base in the growing market of Ready to Eat and Ready to Consume categories in India. Modi Naturals Ltd. is an Indian-based FMCG company which expanded its geographical presence to cater to large set to consumer. Rising Convenient Food Products Demand to Boost Market Growth This market is expected to grow significantly during the forecast period due to the rising demand for convenient food products worldwide. The demand for ready-to-eat products is also increased. According to Unione Italiana Food and ICE Agency, pasta consumption is increased in Germany, Italy, the U.S., and France during the COVID-19 pandemic. Pasta is preferred amongst working professionals as it is easy-to-cook and cheaper. Growing Key Players Focus on Launching Healthy Products to Boost Market Growth Several major players, including Barilla G.e.R.F.lli S.p.A., Campbell Soup Company, and Ebro Foods, S.A., are focusing on launching healthy products which is propelling the pasta market growth during the forecast period. These products use barley, rice, and legumes to attract new health-conscious products. Companies are developing gluten-free pasta to maintain their market position during the forecast period. Notable Industry Development List of the Companies Profiled in the Report: Further Report Findings- Table of Segmentation ATTRIBUTE DETAILS Study Period 2019-2030 Base Year 2022 Estimated Year 2023 Forecast Period 2023-2030 Historical Period 2019-2021 Growth Rate 5.26% Unit Value (USD Billion) Segmentation By Product Type By Raw Material By Distribution Channel By Geography
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