The Pasta Market is anticipated to expand at a CAGR of 5.77% By 2030

Pune, India, January 2022, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Pasta Market.

Overview

The pasta market is set to grow at a CAGR of 5.77% by 2030. As per the market research report, the market will hit USD USD 82.3 Billion in terms of valuation by the end of 2030. The market growth will be driven by the growing consumer demand for healthy food & beverages. Based on the research report, the increasing demand for convenience food will accelerate growth in the market till 2030. Although high market competition will have a negative impact on the global pasta market’s growth during this period. The concentration of several strong players is predicted to be a key challenge which could become a strong threat to companies.

The pasta market report published by expert analysts includes primary and secondary data and suggests that distribution channel and source segments are anticipated to witness tremendous growth till 2030. Factors such as ready product availability and easy production will become key growth drivers during the forecast period and rapid growth of the foodservice industry is also said to be supporting the market globally, however, the growth projected for the forecast period could be affected by the lack of effective communication which could negatively affect activities taking place across the market. Concerns regarding side effects are another challenge the market could face till 2030.

Market Segmentation

The pasta market is segregated into different market segments based on distribution channel and source. For a comprehensive analysis of the market, the distribution channel and source segments are further split into smaller segments. The distribution channel segment is categorized into maize, multigrain, rice, soy, wheat, and others. Furthermore, based on source, the global market is also segmented into store-based (supermarkets & hypermarkets, convenience stores and others), non-store-based. Based on the market segmentation analysis, the report covers market forecasts.

The collective demand for clean label products will support the market growth to 2030. As per the market research report, the global market for pasta is anticipated to grow at a healthy rate across all the distribution channel and source segments. However, the presence of active threats such as supply chain related constraints could hamper the market growth. Business activities across pasta have also been examined and studied by pasta industry’s experienced analysts. The pasta market research report covers findings with predictions and forecasts till 2030.

Regional Overview

The pasta market, with its product and service-related segments, is spread across the world. pasta based regional markets are also covered in the market research report. The regional markets are Asia-Pacific, Europe, North America, the Middle East and Africa and the rest of the world. The rising demand for products adhering to clean label guidelines is anticipated to be a major factor for growth across the pasta space during the forecast period. The regional market in North America is classified as the United States, Mexico, Canada, and others. The pasta sector based regional markets in Europe are split into Italy, Germany, France, and the United Kingdom. In the Asia Pacific region, the market is segmented into China, India, Japan, and others. Pasta based businesses in these regional markets are anticipated to grow due to the ease of accessibility to pasta products to 2030. Although the market’s growth could be affected by supply and demand gap. The analysts have also segmented markets of the Middle East, Africa, and the rest of the world.

Competitive Landscape

Pasta based organizations are profiled in the market research report. The pasta market along with companies and segments have been studied. The analysis of pasta-based business is also done to identify key challenges and strengths of these companies. The global pasta market research report covers SWOT analysis, Porter’s Five Force analysis of major pasta related organizations. The strategy and other key details of these companies are covered in the report. The inclination towards convenience food options is anticipated to support the market growth as the market is set to grow at a CAGR of 5.77% and reach a value of USD 82.3 Billion by 2030. Throughout the projected time frame, the European pasta industry is expected to maintain a dominant position in the pasta sector. In 2022, the area accounted for 36.34 percent of the industry.

Industry News

The purchase of Riviana Foods' regional pasta brands by TreeHouse Foods would give the company more global scope and volume. TreeHouse's pasta operations are spread throughout the western and eastern United States. The companies purchased would cover a wide area of the region. TreeHouse Foods revealed earlier today that it will pay $242.5 million to Riviana Foods, a subsidiary of Ebro Foods in Madrid, Spain, for several regional pasta brands. A processing facility in St. Louis, Missouri, will be part of the contract. Riviana Foods and TreeHouse Foods have a contract services deal to supply pasta to bring the business through any market spikes.