Pasta Market Key Players, Trends, Growth Opportunities and Industry Forecast till 2025
“Growing demand for staple food from European region due to regular consummation is anticipated to fuel market demand for packaged pasta products over the forecast period.�
The global pasta market is subject to witness a substantial growth due to the introduction of a wide variety of products in the market, increasing demand for staple food, and change in food habits. Growing demand for staple food from European region due to regular consummation is anticipated to fuel market demand for packaged pasta products over the forecast period. Pasta is broadly known as a staple food of Italian cuisine. Additionally, stringent governmental laws and regulation in regards to the labelling and commercial manufacturing in the European region are expected to drive the growth of pasta market in the upcoming years. Globally, the market is predicted to grow at CAGR of 5.76% in forecast period, providing numerous opportunities for market players to invest in research and development of the pasta market. Other factors responsible for sustained market growth, in the recent years, include changing food patterns, shifting lifestyle preferences, increasing demand for on-the-go food products, particularly in the North America and European region. Shifting trends towards pasta as a staple carbohydrate from U.S and some of the European economies are anticipated to drive market expansion over the forecast period. Increasing approval rate by local government and international authorities such as Food and Drug Administration (FDA) that also defines standards of identity for macaroni products in the U.S. market are estimated to escalate the value of pasta market in the near future. Furthermore, rising demand form working professionals, increasing per capita income from developing economies, majorly in the Asia Pacific region, and growing popularity of the instant food is driving the growth of pasta market, in the recent years.