Pasta Market Scenario
Pasta is made up of flour & egg and unleavened dough and usually served with an Italian sauce. It is produced in different forms according to varying regional tastes. A new report on the global pasta market, published by Market Research Future (MRFR), speculates that this market can observe progress at 5.85% CAGR during the forecast period (2017-2023).
The far-reaching market drivers for The Global Pasta Market growth are an increase in the working population, demand for convenience food, and ease of cooking pasta. Depending on what vegetables have been added to pasta, pasta can have nutritional value. The availability of pasta in organized food services is enhancing the market growth. Other factors extending the global Pasta Market growth include changing lifestyles, increasing investment from key market players, availability of pasta with multiple brands as well as in multiple varieties, increasing veganism, availability of non-veg pastas (in some countries), increasing disposable income, higher purchasing power of consumers, and increasing popularity as well as consumption of pasta.
Big players in the global Pasta Market are Nestlé SA (Switzerland), Ajinomoto Co., Inc. (Japan), The Unilever Group (Knorr) (U.K.), Campbell Soup Company (U.S.), Nissin Foods Co., Ltd (Hong Kong), Capital Foods Limited (India), ITC Limited (India). Applebee’s has introduced pasta dishes accompanied with various combinations for its esteemed customers.
The global Pasta Market segmentation encompasses distribution channels, functionality, sources, and types. MRFR’s research on the market highlights many factors of the market in-depth.
Based on distribution channels, this market has been segmented into store-based distribution channel and non-store-based distribution channel. Store-based distribution channels segment covers retail outlets, whereas Non-store-based distribution channels segment covers e-commerce and online portals.
The functionality-based segmentation of the market covers gluten-free, organic, and vegan. During the forecast period, organic pasta can dominate the market due to the increasing demand as well as the market for chemical-free food & beverage products among health-conscious consumers.
Regarding sources, the market has been segmented into chickpea, maize, rice, whole wheat, and others. Among these segments, the wheat pasta holds the largest market share, and during the forecast period, the maize pasta segment is expected to witness the highest growth.
A geographical outlining of the global Pasta Market covers Europe, Asia Pacific, North America, and Rest-of-the-World (RoW).
Being the largest regional market, Europe is expected to grow at 5.72% CAGR during the forecast period. Pasta is Italian cuisine, and as Italy is in Europe, it is natural for Europe to be the biggest market in this region. The large population inclined towards the dish also contributes to market growth. Other important markets in this region are France, Germany, Spain, and the U.K. The survey of the remaining countries in Europe outlines the tremendous potential of the product.
During the forecast period, the Asia Pacific region can be the fastest growing regional market as it grows at 6.22% CAGR. Increasing urbanization and craze for western cuisines is elevating the market growth. The presence of rising economies like China and India that have a high density of population is also helping the market growth. Other important markets in this region are Japan and Thailand that generate significant revenue.
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In North America, the market is strong due to a strong economy, high purchasing power of people, and craze for fast food. The maximum revenue in this regional market comes from the USA, Canada, and Mexico.
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