Key Highlights
- The global packaged food market was valued at approximately $2.9 trillion in 2021
- The Asia-Pacific region accounts for more than 40% of the global packaged food consumption
- The US packaged food industry generated around $370 billion in revenue in 2022
- Approximately 60% of consumers prefer convenience foods, including packaged food products
- The snack segment in packaged foods is expected to grow at a CAGR of 5% through 2027
- Organic packaged food sales in North America increased by 12% in 2022
- The global clean-label packaged food market is projected to reach $227 billion by 2027
- The demand for plant-based packaged foods is growing at a CAGR of 12%
- The global frozen packaged food market was valued at $237 billion in 2022
- Nearly 80% of global packaged food products are shelf-stable
- The rice-based packaged food segment constitutes approximately 25% of the Asian packaged food market
- The demand for gluten-free packaged foods increased by 18% in 2022
- The European packaged foods market is projected to grow at a CAGR of 3.4% between 2023 and 2028
The global packaged food industry is booming, with a market valued at nearly $3 trillion in 2021, driven by rising consumer demand for convenience, health-conscious options, and innovative flavors across regions like Asia-Pacific, North America, and Europe.
Health and Wellness Trends
- Packaged fruit snacks experienced a 9% sales increase in 2022, driven by health-conscious consumer trends
- The snack foods segment with a focus on health and wellness increased by 10% in 2022, indicating a trend toward functional snacking
Health and Wellness Trends Interpretation
Market Growth and Innovation
- The snack segment in packaged foods is expected to grow at a CAGR of 5% through 2027
- Organic packaged food sales in North America increased by 12% in 2022
- The global clean-label packaged food market is projected to reach $227 billion by 2027
- The demand for plant-based packaged foods is growing at a CAGR of 12%
- The demand for gluten-free packaged foods increased by 18% in 2022
- The European packaged foods market is projected to grow at a CAGR of 3.4% between 2023 and 2028
- The popularity of organic packaged beverages grew by 10% in 2022
- The demand for low-sugar packaged foods increased by 15% during 2022, as consumers seek healthier options
- The Asia-Pacific region is leading in innovation with new flavor profiles in packaged foods, especially in India and China
- The global demand for gluten-free packaged foods is projected to reach $18 billion by 2025
- The organic snack segment grew by 11% in 2022, reflecting increased consumer demand for healthier snack options
- The global snack foods market is expected to reach $641 billion by 2027, from $537 billion in 2020
- The demand for sustainable packaging in the packaged food industry increased by 25% in 2022, reflecting environmentally conscious consumer choices
- The plant-based dairy segment in packaged foods is projected to grow at a CAGR of 11% through 2028
- The gluten-free packaged food market accounts for approximately 2% of global packaged food sales, but is one of the fastest-growing segments
- The global plant-based meat market in packaged foods is expected to reach $15 billion by 2027, growing at a CAGR of 10%
- The organic beverage segment in packaged foods is expected to grow at a CAGR of 9% through 2028, driven by health trends
- The global ready-to-eat meal segment in packaged foods is projected to reach $97 billion by 2027, from $78 billion in 2022
- The premium packaged food segment, including artisanal and gourmet products, grew by 8% in 2022, reflecting consumer preference for quality and uniqueness
Market Growth and Innovation Interpretation
Market Segments and Product Types
- The global packaged food market was valued at approximately $2.9 trillion in 2021
- The US packaged food industry generated around $370 billion in revenue in 2022
- Approximately 60% of consumers prefer convenience foods, including packaged food products
- The global frozen packaged food market was valued at $237 billion in 2022
- Nearly 80% of global packaged food products are shelf-stable
- The rice-based packaged food segment constitutes approximately 25% of the Asian packaged food market
- The global breakfast cereals segment accounts for about $46 billion in retail sales
- Packaged baby foods constitute 12% of the global baby food market
- In 2022, the raw material cost for packaged foods increased by 8%, mainly due to inflation in raw grain and dairy prices
- The dairy segment accounts for roughly 30% of global packaged food sales
- The snack bar segment saw a 7% increase in sales in North America during 2022
- Private label packaged foods hold approximately 20% of market share globally
- The frozen pizza segment grew by 9% in 2022, reaching sales of $4.2 billion worldwide
- The online sales channel for packaged foods increased by 20% in 2022, driven by growing e-commerce adoption
- The canned foods segment represents about 15% of global packaged foods, mainly driven by North American and European markets
- The convenience store sales of packaged foods increased globally by 10% in 2022, indicating rising demand for ready-to-eat products
- The flavor en trend in packaged foods is shifting towards ethnic and regional flavors, growing by 20% year-over-year
Market Segments and Product Types Interpretation
Regional and Demographic Insights
- The Asia-Pacific region accounts for more than 40% of the global packaged food consumption
- Convenience foods account for more than 50% of packaged food sales in urban areas of China
- People aged 25–34 are the largest consumers of packaged snacks globally, representing about 35% of the market
- The nutritional label literacy rate among North American consumers improved by 12% in 2022, reflecting increased awareness and demand for transparent labeling
- The fastest-growing international markets for packaged foods include India, China, and Brazil, each with double-digit growth rates
- The use of digital marketing and social media campaigns in the packaged food industry increased by 30% in 2022, helping brands reach younger consumers
Regional and Demographic Insights Interpretation
Sources & References
- Reference 1PACKAGEDFACTSResearch Publication(2024)Visit source
- Reference 2FUTUREMARKETINSIGHTSResearch Publication(2024)Visit source
- Reference 3NIELSENResearch Publication(2024)Visit source
- Reference 4FOODBUSINESSNEWSResearch Publication(2024)Visit source
- Reference 5IBISWORLDResearch Publication(2024)Visit source
- Reference 6NUTRITIONALOUTLOOKResearch Publication(2024)Visit source
- Reference 7EMARKETERResearch Publication(2024)Visit source
- Reference 8MARKETINGDIVEResearch Publication(2024)Visit source
- Reference 9NPDResearch Publication(2024)Visit source
- Reference 10REPORTLINKERResearch Publication(2024)Visit source
- Reference 11FOODDIVEResearch Publication(2024)Visit source
- Reference 12GLOBALEATINGResearch Publication(2024)Visit source
- Reference 13GRANDVIEWRESEARCHResearch Publication(2024)Visit source
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- Reference 16STATISTAResearch Publication(2024)Visit source
- Reference 17EUROMONITORResearch Publication(2024)Visit source
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- Reference 19CHINAINTERNETWATCHResearch Publication(2024)Visit source
- Reference 20SPGLOBALResearch Publication(2024)Visit source
- Reference 21RESEARCHANDMARKETSResearch Publication(2024)Visit source
- Reference 22BABYFOODMARKETResearch Publication(2024)Visit source
- Reference 23MORDORINTELLIGENCEResearch Publication(2024)Visit source