Based on a report available on Radiant Insights, Inc.; the global pasta market is projected to register significant growth by 2025. Factors such as changing lifestyle, rapid urbanization and increasing disposable income are expected to impel growth of the global market over the forecast period (2018 to 2015). Rising demand for instant food can further drive the market in near future.
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Rising demand for instant food owing to escalating number of working professionals is expected to bode well for the market. In addition, frequent product launches can create a positive impact on the market for pasta in near future. Use of natural additives to prepare pasta is expected to be the latest trend to gain traction in the market over the forecast period. Rising health consciousness has increased the demand for healthy food options and ingredients. Therefore, manufacturers are gradually focusing on using natural additives as substitutes to preservatives and coloring constituents. Ingredients like egg white powder, dairy products, vegetables, legumes, and cereal bran are being extensively used to maintain the taste and nutritional value of the product. This factor can impel the expansion of the market over the forecast period.
The worldwide pasta market can be segmented on the basis of product, end-users/application, and regions. Based on product, the market can be split into fresh pasta, dry pasta, and instant pasta. As per application, the pasta market can be categorized into residential, restaurant, airplane and train, and others. Geographically, the market can be divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Pasta is generally consumed as a staple carbohydrate in many European countries and the U.S. Hence, Europe is one of the most attractive markets in terms of consumption as the product is consumed as a staple food in Italy and many other countries. The region is one of the top exporters of pasta. High demand for low-cost, nutritious, and convenient food products as well as new flavors among working population and young generation can boost the regional market. In 2016, the employment rate in the European Union States for the individuals in the age range between 20 to 64 years was around 71.1%, according to the European Union. This high percentage of working populace is expected to drive the global market over the forecast period.
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North America pasta market is expected to showcase considerable growth during the forecast period due to high demand from the U.S. Asia Pacific, on the other hand, is likely to display significant growth in near future due to the rising population and demand from the developing countries such as India and china. Rapid urbanization, high disposable income, presence of large middle-class population, and rising number of working professionals can further boost the regional market in the forthcoming years.
Some of the leading companies operating in the pasta market include Nestle, Indo Nissin Foods Ltd., ITC Limited, MTR Foods Pvt. Ltd., and United Argo Industries. The market comprises of a large number of local and international players. Most market participants are expected to compete with each other mainly on the basis of new product varieties and price range. Mergers and acquisitions (M&A) is one of the major business strategies adopted bythe market participants to expand their presence in the market. The companies are also expected to invest heavily in research and development (R&D) to produce new products with enhanced taste.
For instance, Nestles Maggi brand recently introduced a Maggi Pazzta in Sri Lanka. It falls under the value-added pasta category. It is made with the semolina grains with high fiber content. It takes around five minutes of preparation time.
Explore Other Reports By Radiant Insights,Inc at
• Edible Mushroom Market– https://www.radiantinsights.com/research/global-edible-mushroom-market-professional-survey-report-2018
• Noodles Market– https://www.radiantinsights.com/research/global-noodles-industry-2018
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