United States Packaged Food Market Overview
United States Packaged Food Market Size was valued at USD 1056.2 Billion in 2022. The Packaged Food market industry is projected to grow from USD 1109.01 Billion in 2023 to USD 1638.51 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2024 - 2032). Growing recognition of the value of clean food and technological developments in process techniques are the main market drivers anticipated to propel the Packaged Food market in the United States.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
United States Packaged Food Market Trends
- Growing vegan population in the nations is driving the market growth
Due to the nation's , there is an increasing demand for plant-based products, which has expanded the opportunities for industry players. Many companies have entered the plant-based market to take advantage of the possibility, such as Danone S.A., Nestlé, and Unilever. Moreover, the industry's growth has been expedited by the innovative breakthroughs of vegan companies like Beyond Meat and Impossible Foods Inc. In 2020, almost 30 million adults in the United States were estimated to be lactose intolerant by the United States Department of Health and Human Services. Because of this, consumers who are sensitive to lactose have become increasingly interested in plant-based dairy substitutes. Consumers who are less price-sensitive and who are health and environmental conscious have been demanding more organic, natural, clean, and whole-food goods in recent years. The organic product sector is emerging as a popular food category as a result of the expanding organic trend in the food and beverage industry.
Furthermore, by disclosing more details about the products listed on the labels, the industry participants are becoming more open. In addition, the growing popularity of natural, low-calorie, low-fat foods free of artificial coloring, genetically modified organisms, and added sugar propels the nation's packaged food business forward, driving the market CAGR. Because packaged foods like rice, pasta, noodles, snacks, and canned food have longer shelf life than other food items, consumers tend to stockpile them, which boosts the sales of these products. The United States's packaged food consumption is also being driven by advances in product innovation, the introduction of new flavors by private label companies, and a sharp move away from generic goods and into luxury goods like organic and gluten-free options. Thus, result in driving the United States Packaged Food market revenue.
United States Packaged Food Market Segment Insights
- Packaged Food Product Insights
The United States Packaged Food market segmentation, based on product, includes Bakery & Confectionary Products, Dairy Products, Snacks & Nutritional Bars, Beverages, Sauces, Dressings & Condiments, Ready-to-Eat Meals, Breakfast Cereals, Processed Meats, Rice, Pasta & Noodles, Ice Creams & Frozen Novelties, and Others. The breakfast cereal segment dominated the market mostly because morning cereals are easily accessible at department stores, pharmacies, and convenience stores and because health consciousness is growing. Customers emphasize breakfast as the most significant meal of the day. Grain processed with vitamins and minerals makes up breakfast cereal. It is consumed with almonds, fruit, yogurt, and milk. Breakfast cereals can be flaked, shredded, puffed, or covered with icing or chocolate before they dry.
- Packaged Food Distribution Channel Insights
The United States Packaged Food market segmentation, based on distribution channel, includes Supermarkets & Hypermarkets, Convenience Store, Online, and Others. The Supermarkets & Hypermarkets category generated the most income. Supermarkets and hypermarkets are growing in the packaged food industry because of their large product selection and regular promotions that boost foot traffic and sales. For all of your everyday requirements, supermarkets provide an enticing blend of affordability and freshness. In the neighborhood, families go grocery shopping. These mass merchandisers make purchasing bakery, dairy, and other packaged foods simple.
Figure 1: United States Packaged Food Market, by Distribution Channel, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Packaged Food Country Insights
In recent years, consumers in United States who are less price sensitive and who are health and environmental conscious have become more and more interested in whole-food, natural, organic, and clean products. The organic product category in United States is rising to prominence in the food and beverage industry as a result of the expanding organic trend. Furthermore, buyers are demanding greater openness from the manufacturers and suppliers of the goods they buy. As a result, by disclosing more details about the products included on the labels, the industry participants are becoming more open. In addition, the growing popularity of natural, low-calorie, low-fat foods free of artificial coloring, genetically modified organisms, and added sugar propels the United States's packaged food business forward.
United States Packaged Food Key Market Players & Competitive Insights
Leading market players are putting a lot of money into R&D to expand their product lines, which will help the packaged food sector to keep growing. Additionally, market players are engaging in a range of calculated actions to increase their presence, with important market developments involving the introduction of new products, contracts, M&A transactions, increased investment, and cooperation with other enterprises. To grow and endure in an increasingly cutthroat and dynamic market, Packaged Food industry must offer cost-effective items.
Major players in the Packaged Food market are engaging in research and development activities in an effort to boost market demand, including Nestlé, The Coca-Cola Company, PepsiCo, Tyson Foods, Inc., Mars, Incorporated, Cargill, Incorporated, The Kraft Heinz Company, General Mills Inc., Conagra Brands, Inc., and Kellogg Co.
Key Companies in the Packaged Food market include
- Nestlé
- The Coca-Cola Company
- PepsiCo
- Tyson Foods, Inc.
- Mars, Incorporated
- Cargill, Incorporated
- The Kraft Heinz Company
- General Mills Inc.
- Conagra Brands, Inc.
- Kellogg Co.
United States Packaged Food Industry Developments
March 2021: Nestlé bought the high-end functional water brand Essentia Water. The purchase was made with the intention of increasing its market share in the upscale functional water industry.
January 2020: Limitless was acquired by Keurig Dr. Pepper Inc. As the market for packaged healthy beverages grows in the United States, Keurig Dr. Pepper was able to increase its beverage offerings thanks to this acquisition.
October 2021: Tyson Foods, Inc. introduced air-fried chicken bits with 35% less calories and 75% less fat. Among the goods are Parmesan Chicken Bites and Spicy Chicken Bites.
United States Packaged Food Market Segmentation
Packaged Food Product Outlook
- Bakery & Confectionary Products
- Dairy Products
- Snacks & Nutritional Bars
- Beverages
- Sauces, Dressings & Condiments
- Ready-to-Eat Meals
- Breakfast Cereals
- Processed Meats
- Rice, Pasta & Noodles
- Ice Creams & Frozen Novelties
- Others
Packaged Food Distribution Channel Outlook
- Supermarkets & Hypermarkets
- Convenience Store
- Online
- Others
