Description
Global Pasta & Noodles Market to Witness Impressive CAGR over Forecast Period
Pasta and noodles are the staple food for multiple countries across the globe and are eaten on a daily basis. Pasta is a staple food from the Italian cuisine and the commercial labelling and manufacturing is regulated strictly in the country. On the other hand, noodles are a staple food in Japan, Korea, and China. It is also consumed on a regular basis in many European countries.
As per the latest report uploaded on WiseGuy Reports (WGR), the global pasta and noodles market is expected to ascend at a high rate over the review period. Some factors attributable for this growth include an elevating demand for the consumption of healthy and organic products, rising disposable income of consumers around the world, and fast-paced economic development. Further, rapid urbanization, coupled with a large young population base is likely to push the pasta and noodles market over the forecast period.
Market Segmentation
The global pasta and noodles market is studied for various segments based on type and region. Based on type, the report on pasta and noodles market is segmented into dried pasta and noodles, ambient pasta and noodles, and chilled pasta and noodles. Among these segments, the global pasta and noodles market is spearheaded by the ambient pasta and noodles segment. The demand for ambient pasta and noodles is rising at a fast pace as it offers a vast variety of products available in different flavors and tastes. Further, longer shelf life of edible products, as compared to other types of pasta and noodles is promoting sizeable growth in the global pasta and noodles market. Further, higher level of convenience is also fueling growth in the global market.
Key Players
Some of the impactful vendors in the global pasta and noodles market include Barilla Group, The Kraft Heinz Company, Nestlé, Delverde, ITC, Acecook Vietnam JSC, House Foods Group, Ottogi Foods, Remo Macaroni Company, Uni-President Enterprises, Creamette, La Molisana, Pinehill Arabia Food, Teigwaren Riesa and Toyo Suisan Kaisha.
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Detailed Regional Analysis
The global pasta and noodles market is regionally segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. North America is further sub-segmented into US, Canada, and Mexico. Europe is studied for the sub-segments of Italy, France, Germany, UK, Spain, and Rest of Europe. Asia Pacific is studied for the regions of China, India, Japan, Australia, South Korea, New Zealand, and Rest of Asia Pacific. South America is studied for the sub-segments of Brazil, Chile, Argentina, and South America. Middle East & Africa is analyzed for the sub-segments of UAE, Saudi Arabia, South Africa, Qatar, and rest of Middle East & Africa.
Among the primary regional segments, Asia Pacific is expected to lead the global pasta and noodles market at the beginning of the review period. Further, such dominion is anticipated to be continued over the forecast period due to a couple of influential factors. Presence of some of the fastest-growing economies in the world, namely India and China, in the region is driving the regional pasta and noodles market. Moreover, increasing disposable income, along with proliferation in population growth are prompting faster growth in demand for pasta and noodles in the region. Rising urbanization is another factor pushing the global pasta and noodles market towards an impressive growth trajectory over the forecast period.
Industry Update
July 2019: Sonoran Pasta Co. is a newly formed pasta company which is available for commercial sale at Pheonix Public Market in Arizona. This company will sell a variety of pasta shapes including spaghetti, trottole, creste di gallo, as well as casarecce, among others.
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