Increasing demand for international cuisines boosts pasta sales
The global pasta market is forecasted to increase at a CAGR of 6.5% and reach a value of US$ 93.3 billion by the end of 2033 as rising preference for convenience food is stimulating sales.
According to FACT.MR, more consumers are now concentrating on the consumption of healthier food products due to rising health consciousness and growing demand for organic food products. They are becoming aware of nutritional benefits of organic pasta, which is predicted to contribute to market growth.
People are opting for different types of pastas owing to their easy availability and preparation methods, which is estimated to accelerate growth opportunities for market players over the forecast period.
Key takeaways from the market study include:
- The global pasta market stands at a valuation of US$ 49.7 billion in 2023.
- Worldwide demand for pasta is anticipated to rise at a CAGR of 6.5% from 2023 to 2033.
- The global market is forecasted to reach a valuation of US$ 93.3 billion by the end of 2033.
- Dry pasta is set to remain the most widely consumed type around the world.
- Europe is predicted to hold a significant revenue share of the global pasta market over the coming years.
“Growing demand for international cuisines, transformation in the food service sector, increasing preference for convenience foods & packaged food products, and rising consumption of Italian pasta in Asian countries and the United States are driving the sales of pasta globally,” says a Fact.MR analyst.
Rising consumption of ready-to-eat food products is increasing rapidly as the number of people living hectic lifestyles rises. Pasta’s easily availability and that fact that it requires comparatively less time and effort in preparation than other foods means those looking for convenience and instant food products are satisfied with current offerings.
FACT.MR notes growing demand for organic food products around the world and anticipates manufacturers of pasta investing in R&D activities to prepare different varieties of organic pasta. The analysts sees manufacturers producing new product varieties, which are made of organic wheat to match the requirements of global consumers. These initiatives are projected to positively impact market growth over the coming decade.
Winning strategies highlighted by FACT.MR include key manufacturers of pasta investing in new developments and providing organic food products owing to rising health consciousness among consumers.
For instance, General Mills Inc. launched Annie’s One Pot Pasta in August 2019. This organic pasta comes with natural flavours and hidden veggies.
More insights are available in the Pasta Market by Fact.MR.
