Packaged Food Market Size - By Product Type (Snack Foods, Ready-to-Eat Meals, Cereals, Baked Goods, Dairy Products, Frozen Foods, Convenience Foods, Sauces and Condiments, Beverages), By Packaging Type, By End-use & Forecast, 2024 – 2032

Packaged Food Market Size

Packaged Food Market size was valued at around USD 3.1 trillion in 2023 and is estimated to reach USD 5.32 trillion by 2032. Packaged foods offer convenience and time-saving benefits to consumers. Ready-to-eat meals, pre-cut vegetables, and microwaveable snacks are popular choices for busy individuals and families. Packaging technologies and materials help extend the shelf life of food products, reducing food waste and allowing consumers to stock up on non-perishable items.
 

Proper packaging ensures food safety and hygiene, protecting products from contamination and maintaining their quality throughout the supply chain. Packaging designed for on-the-go consumption, such as single-serve snacks and beverages, caters to the modern mobile lifestyle.

Increased awareness of health and wellness has led to a growing demand for healthier food options. Packaged food manufacturers face challenges in reformulating products to meet consumer preferences for reduced sugar, sodium, and artificial ingredients, while still maintaining taste and shelf life. The packaged food industry relies on complex global supply chains. Fluctuations in commodity prices can affect the cost of ingredients and packaging materials, impacting profit margins for food manufacturers.
 

COVID-19 Impact

During the initial stages of the pandemic, there was a surge in demand for packaged food products as consumers stocked up on non-perishable items due to lockdowns and uncertainty. Items like canned goods, frozen foods, and shelf-stable snacks saw a significant increase in sales. With more people staying at home and cooking meals themselves, there was a rise in demand for convenience and easy-to-prepare packaged foods.
 

Packaged Food Market Trends

Consumers are increasingly seeking healthier food options, driving the demand for packaged foods with cleaner labels, reduced sugar, sodium, and artificial ingredients. There is a growing interest in functional foods with added nutritional benefits and ingredients that support specific health goals. Consumers are increasingly conscious of the environmental impact of packaging, leading to a demand for eco-friendly, biodegradable, and recyclable packaging materials.
 

Packaged Food Market Analysis

Based on product, the packaged food market is segmented as snack foods, ready-to-eat meals, cereals, baked goods, dairy products, frozen foods, convenience foods, sauces and condiments, beverages. Snacks held a majority market value of USD 525.4 billion in 2022. Convenient and portable food items that are typically consumed between meals. Snack products include chips, crackers, nuts, popcorn, energy bars, and fruit snacks. Pre-prepared and fully cooked meals that require minimal or no additional preparation before consumption.
 

Based on application, the packaged food market is segmented as Cans, Cartons, Bottles, Pouches, Boxes, Trays, Wrappers. Cans held a dominant market share of around 40% in 2022. Cans provide excellent protection for packaged food products, preventing exposure to light, air, and moisture. This helps extend the shelf life of the products and maintain their freshness and quality.
 

Based on end-use the packaged food market is segmented as Supermarkets and Hypermarkets, Convenience Stores, Online Retail, Specialty Stores, Foodservice and Restaurants. Specialty stores segment is anticipated to grow at 5.6% CAGR by 2032. Specialty stores, such as health food stores or gourmet shops, require packaging that complements their unique and niche product offerings.
 

North American region with majority packaged food market share and a revenue of USD 861 billion in 2022. North American consumers have busy lifestyles, leading to a higher demand for convenient and ready-to-eat packaged food products that require minimal preparation.
 

Packaged Food Industry Leaders

Some of the major market players operating in the packaged food market are:

• Nestle S.A
• PepsiCo Inc
• The Kraft Heinz Company
• Mondelez International Inc
• Unilever
• General Mills Inc
• Kellogg Company
• Mars Incorporated
• The Coca-Cola Company
• Tyson Foods
• Conagra Brands, Inc
• Campbell Soup Company
• Danone S.A
• Hormel Foods Corporation
• The Hershey Company
   

Packaged Food Industry News:

• In January 2023, PepsiCo Inc. launched Pepsi Zero Sugar which provides a zero-sugar recipe to consumers. According to the company, it is constantly identifying consumer trends and preferences and working to create flavor profiles that meet consumers' ever-evolving needs.
   
• In December 2022 PepsiCo Inc. launched "Doritos After Dark" in partnership with PepsiCo Foodservice Digital Lab2 and Popchew. According to PepsiCo Inc. (Frito-Lay's) latest Snack Index1, forty-three percent of consumers and half (49%) of Gen Z agree that snacking is the most satisfying after dark and thus tapped into the opportunity to launch "Doritos After Dark.
   

Packaged food market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion & Units from 2018 to 2032, for the following segments:

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By Product type

• Snack Foods
• Ready-to-Eat Meals
• Cereals
• Baked Goods
• Dairy Products
• Frozen Foods
• Convenience Foods
• Sauces, Dressings, and Condiments
• Beverages

By Packaging Type

• Cans
• Cartons
• Bottles
• Pouches
• Boxes
• Trays
• Wrappers

By Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Retail
• Specialty Stores
• Foodservice and Restaurants

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Malaysia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Egypt