The Latest Packaged Food Industry Statistics Explained
The global packaged food market size was valued at USD 2.47 trillion in 2019.
The statistic states that the global packaged food market was worth USD 2.47 trillion in 2019, indicating the total value of all packaged food products sold globally during that year. This figure reflects the significant size and economic importance of the packaged food industry, encompassing a wide range of products such as ready-to-eat meals, snacks, beverages, and more. The market size is a key indicator of the scale and growth potential of the packaged food sector, highlighting the ongoing demand for convenient and packaged food products among consumers worldwide. This statistic serves as a valuable metric for assessing market trends, forecasting industry growth, and understanding the impact of various factors on the packaged food market.
The food packaging industry’s Compound Annual Growth Rate (CAGR) is projected to grow at a rate of 3.1% from 2020 to 2027.
The statistic indicates that the food packaging industry is estimated to experience stable and consistent growth over the period from 2020 to 2027, with a Compound Annual Growth Rate (CAGR) of 3.1%. This means that on average, the industry is expected to expand by 3.1% each year during this period. A CAGR is a useful measure to assess the industry’s growth rate over multiple years as it accounts for the compounding effect of growth. The projected growth rate suggests that the food packaging sector is likely to witness increasing demand and profitability, potentially driven by factors such as population growth, changing consumer preferences, and advancements in packaging technology.
The ready meals segment held the largest market share of over 30% in 2019.
This statistic indicates that in 2019, the ready meals segment accounted for more than 30% of the total market share within the industry being discussed. This suggests that ready meals were the most popular and widely consumed category within the market during that time period. The significant market share held by ready meals implies high demand and competitiveness within this segment, indicating that consumers showed a preference for the convenience and quick preparation offered by ready meals compared to other categories. This information is crucial for market analysis and strategic decision-making for businesses operating within this industry.
The North America region dominated the packaged food market with over 30% of the total revenue in 2019.
The statistic indicates that North America held a prominent position in the global packaged food market in 2019, generating more than 30% of the total revenue. This implies that consumers in North America had a significant impact on the packaged food industry and played a crucial role in driving sales and revenue for companies operating in this market. The dominance of North America suggests a strong demand for packaged food products in the region, likely driven by factors such as busy lifestyles, convenience, and a preference for ready-to-eat or easy-to-prepare meals. This statistic underscores the importance of the North American market for packaged food manufacturers and highlights the region as a key player in the industry landscape.
By 2025, the global food packaging market is expected to reach $400 billion.
The statistic suggests that the global food packaging market is projected to grow significantly by the year 2025, with an expected value of $400 billion. This indicates a substantial increase in the demand for food packaging solutions worldwide, likely driven by factors such as population growth, changing consumer preferences, and advancements in food processing technologies. The growth in the market is indicative of the importance placed on packaging in ensuring the quality, safety, and convenience of food products for consumers. As a result, this statistic highlights the opportunities and challenges that lie ahead for businesses operating in the food packaging industry to meet the evolving needs of the market.
The frozen food industry is expected to reach $306.1 billion by 2020 globally.
The statistic indicates that the frozen food industry is forecasted to achieve a global market value of $306.1 billion by the year 2020. This suggests a significant growth and expansion in the frozen food sector, driven by factors such as changing consumer lifestyles, increasing disposable incomes, and rising demand for convenient and time-saving food options. The projected increase in market size implies a growing market share for frozen food products across various regions, showcasing the industry’s potential for further development and innovation in the coming years.
In India, the packaged food market is projected to grow at a CAGR of 9% to reach $65 billion by 2020.
This statistic indicates that the packaged food market in India is expected to experience significant growth, with a projected Compound Annual Growth Rate (CAGR) of 9% by the year 2020. This implies that the market value is forecasted to increase steadily at an annual average rate of 9%, reaching a total worth of $65 billion by the stated timeframe. Such growth in the packaged food sector reflects increasing consumer demand, changing lifestyles, and economic development within the country, leading to higher consumption of convenience and ready-to-eat food products. This data suggests potential opportunities for businesses operating in the packaged food industry in India, as they can leverage this market growth to expand their operations and capture a larger share of the market.
The U.S. holds the largest share in the global packaged food market, with over 20% market share.
The statistic that the U.S. holds the largest share in the global packaged food market, with over 20% market share, indicates that the United States is a dominant player in the packaged food industry on a global scale. This means that of all the packaged food products consumed worldwide, more than one-fifth comes from the U.S. This high market share suggests that the U.S. has a strong presence in producing, exporting, and/or consuming packaged food products compared to other countries. This statistic highlights the significance of the U.S. in shaping trends, setting standards, and influencing the global packaged food market.
Latin America’s packaged foods sector is expected to grow 5% annually through 2022.
The statistic indicates that the packaged foods sector in Latin America is predicted to experience a consistent annual growth rate of 5% until the year 2022. This forecast suggests that consumer demand for packaged food products in the region is expected to increase steadily over the specified period. The growth in this sector could be driven by factors such as changing consumer preferences, increasing disposable income, urbanization, and a growing trend towards convenience and ready-to-eat food options. The projected growth rate of 5% signifies a positive outlook for the packaged foods industry in Latin America, indicating potential opportunities for businesses operating in this sector to expand their market share and capitalize on the region’s increasing appetite for packaged food products.
The canned food market is expected to reach a value of $128 Billion by 2027.
The statistic stating that the canned food market is projected to achieve a value of $128 billion by the year 2027 indicates a significant growth trajectory expected in the industry in the coming years. This forecast suggests a robust demand and consumption of canned food products globally, which can be influenced by factors such as changing consumer preferences, convenience, longer shelf life of canned goods, and increasing urbanization. The figure reflects the anticipated market size and economic value of canned foods, highlighting the potential opportunities for businesses operating in the sector to strategize their production, marketing, and distribution efforts in order to capitalize on the growing market.
By 2025, Asian countries are expected to contribute more than 60% of global incremental demand for packaged food.
The statistic suggests that by the year 2025, Asian countries are projected to account for more than 60% of the worldwide increase in demand for packaged food products. This indicates a significant shift in consumer behavior and consumption patterns towards packaged food items in Asian markets. Factors such as rising disposable incomes, urbanization, changing lifestyles, and increased awareness of convenience and food safety could be driving this trend. The growing influence of Asian economies on the global food industry is likely to have implications for food producers, manufacturers, and retailers as they seek to capitalize on the expanding market opportunities in these regions.
It is predicted that the global frozen foods market will reach a volume of 156.4 Million Tons by 2025.
The statistic states that the global frozen foods market is forecasted to grow and reach a volume of 156.4 million tons by the year 2025. This projection indicates a significant increase in the demand for frozen foods around the world over the next few years. Factors contributing to this growth could include changing consumer lifestyles, increased urbanization, convenience, and improved distribution networks. The rising demand for frozen foods may also be influenced by factors such as busy lifestyles, longer shelf life of frozen products, and advancements in freezing technologies. This statistic serves as an important indicator for businesses operating in the frozen foods industry, helping them to anticipate future market trends and plan their strategies accordingly.
More than 60% of millennials prefer to carry packaged food due to their fast-paced lifestyle.
The statistic “More than 60% of millennials prefer to carry packaged food due to their fast-paced lifestyle” indicates that a significant majority of individuals belonging to the millennial generation show a preference for packaged food over freshly prepared meals. This preference is attributed to their fast-paced lifestyle, suggesting that millennials often opt for convenient and easily accessible food options that require minimal time and effort to choose and consume. The statistic points to a trend among millennials where they prioritize convenience and efficiency in their dietary choices, possibly due to busy schedules, work commitments, or a preference for on-the-go eating habits.
The carbonated soft drinks packaging market is expected to reach $605.3 million by 2027.
The statistic suggests that the market size of carbonated soft drinks packaging is projected to grow to $605.3 million by the year 2027. This growth indicates an increasing demand for packaging solutions tailored for carbonated soft drinks products. Factors driving this growth may include a rising consumption of carbonated beverages, changing consumer preferences towards more convenient and sustainable packaging options, as well as innovations in packaging technology. The forecasted market value can serve as a useful indicator for businesses operating in this sector to strategize and capitalize on the anticipated market expansion.
Global pet food packaging market is expected to reach $10.7 billion by 2024.
The statistic indicates that the global pet food packaging market is projected to grow and reach a total value of $10.7 billion by the year 2024. This indicates a significant increase in market size and demand for pet food packaging over the coming years. Factors contributing to this growth may include the rising pet ownership rates globally, increasing awareness of pet health and nutrition, as well as advancements in packaging technologies to improve convenience, sustainability, and product freshness. Overall, this statistic suggests a positive outlook for the pet food packaging industry and opportunities for businesses operating in this market to capitalize on the growing demand for pet food products.
The global dairy packaging market size was valued at USD 25.7 billion in 2020.
The statistic ‘The global dairy packaging market size was valued at USD 25.7 billion in 2020’ indicates the total worth of the dairy packaging industry on a global scale during the year 2020. This value represents the monetary value of all dairy packaging products sold worldwide for that year. It suggests the significant size and economic importance of the dairy packaging market, reflecting the demand for packaging solutions for dairy products such as milk, cheese, yogurt, and butter. This statistic provides valuable insights for industry stakeholders, policymakers, and investors regarding the market’s size and potential growth opportunities in the dairy packaging sector.
Australia’s total revenue for packaged food production in 2020 reached approximately 18.7 billion U.S. dollars.
The statistic indicates that in 2020, Australia generated a total revenue of around 18.7 billion U.S. dollars from the production of packaged food. This figure represents the combined income received by Australian companies involved in producing various types of packaged food products for consumption. The revenue includes earnings from sales of items such as processed snacks, canned goods, frozen meals, and beverages that are packaged and sold in grocery stores and supermarkets. This statistic serves as a measure of the economic value generated by the packaged food production sector in Australia during the specified year, reflecting the scale and importance of this industry within the country’s economy.
References
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