An increasing number of young consumers with a hectic and fast-paced lifestyle prefer convenient, easy to cook, and affordable food options.
New York, NY -- (SBWIRE) -- 04/17/2017 -- The staple food of Italy and North Africa's popular appetizer, together, are spanning the globe for being affordable, tasty and healthy as well. There's no denying that pasta and couscous will continue to be in demand for their easy-to-make preparatory approach and their status as flavorsome culinary delicacies. A latest study published by Persistence Market Research projects that the global market for pasta & couscous, which is presently estimated at US$ 29.5 billion, will soar at 3.7% CAGR to bring in a little over US$ 42 billion in revenues by the end of 2026.
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According to the report, titled "Pasta & Couscous Market: Global Industry Analysis and Forecast, 2016-2026," the global demand for pasta & couscous will grow moderately as global consumers continue to be less aware about couscous' nutritional content. Fluctuating prices of raw materials used for making pastas is also a key deterrent revealed in the report. The most significant factor restraining the growth of global pasta & couscous market is volatile competition imposed by other noodle-based and rice-based staple food products. Canned or preserved pasta, despite being affordable, will also see dip in its global sales, owing to the health concerns arising from speculated product analysis.
How the World Likes its Pasta & Couscous
When it comes down to buying pasta or couscous, a majority of people in the world prefer dried and fresh/chilled products. In 2017 and beyond, one out of every two products sold in the global pasta & couscous market will be a dried product. Fresh or chilled pasta & couscous products will also gain traction, accounting for one-third of global revenues through 2026. Key findings in the report indicate higher demand for macaroni, fusilli and penne pastas, while global spaghetti revenues will showcase growth at 3.1% CAGR.
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On the other hand, global consumption of whole grain couscous products will continue to outpace that of traditional couscous. Comparatively, people from around the world will prefer being served with pasta, while revenues emanating from global couscous sales will account for about one-fourth of global pasta & couscous revenues by the end of 2026.
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Highest Demand for Multigrain Pasta & Couscous
With respect to raw materials used for commercial-scale production of pasta & couscous products, the report reveals surging demand for multigrain ingredients. By the end of 2026, revenues amassed from sales of multigrain pasta & couscous are anticipated to rise at 3.9% CAGR. Raw materials such as 100% durum wheat, 100% wheat, and mix (durum & wheat) ingredients will also garner high demands in the future. Consumption of maize as raw material for production of pasta & couscous will, however, be the lowest.
Additional highlights of the research report:
-In 2016, North America's pasta & couscous market accounted for a little less than 25% of global market value
-Supermarkets & hypermarkets will be the largest distributors of pasta & couscous in the world, followed by unorganized small retail stores
-Revenues from online sales of pasta & couscous will grow at a modest CAGR of 2.8%
-With pasta being one of the prominent staple foods in this region, Europe will be the world's largest market for pasta & couscous
-Asia Pacific's pasta & couscous revenues are also expected to surge rapidly, registering growth 3.8% value CAGR
Leading Manufacturers of Pasta & Couscous Products
European foodmakers such as Valeo Foods Group Limited, Pasta Foods Ltd., Pastificio Antonio Pallante S.R.L., Ebro Foods SA, and Nestle SA are some of the prominent producers of pasta in the world. Moreover, companies such as The Hain Celestial Group, US Durum Products Ltd., Regina Pasta & Food Industries, ITC Foods Limited, and Weikfield Foods Pvt. Ltd. are also recognized for predominantly partaking in global production of pasta & couscous.
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