Pasta & Couscous Market: Global Industry Analysis and Forecast 2016 - 2026
New York, NY -- (SBWIRE) -- 11/14/2017 -- Pasta is anticipated to rank relatively high on attractiveness index in the global pasta and couscous market by 2026 end
Pasta segment is anticipated to account for a relatively high revenue share in the global pasta and couscous market over the forecast period. The segment is projected to be valued at more than US$ 20 Bn by 2017 end and is estimated to increase at a CAGR of 3.6% over the forecast period, to be valued at a little more than US$ 30 Bn by the end of 2026. The segment is projected to create absolute $ opportunity of more than US$ 600 Mn in 2017 over 2016 and incremental $ opportunity of a little more than US$ 10 Bn between 2016 and 2026. Pasta segment is anticipated to remain dominant in the global pasta and couscous market throughout the forecast period with a revenue share of more than 70% by 2026.
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Increasing awareness regarding the benefits of pasta is likely to create positive impact on the pasta segment
An increasing number of young consumers with a hectic and fast-paced lifestyle prefer convenient, easy to cook, and affordable food options. Pasta and couscous are products that are convenient, ready-to-cook, affordable, offer versatility, and come with health claims such as gluten-free and whole grain food. Apart from it pasta is a healthy and convenient food option among families especially with children. Growing number of working women and younger population with busy lifestyles in countries of the Asia Pacific and Middle East preferring convenience and healthy food options is another major factor expected to drive the growth of the pasta segment over the forecast period.
Owing to rapid development in various economies, lifestyle of the middle-class section has improved significantly in the recent past. Also, growing number of working members in a family and increasing disposable income has resulted in changing food consumption patterns. Convenience food consumption is on the rise and this change is likely to significantly fuel the growth of the pasta segment in the years to come. The raw material needed for the production of pasta such as wheat, barley, rice, maize etc. is widely grown in almost all parts of the world and is therefore easily available. This factor is creating a positive impact on the pasta segment.
Increasing obesity with changing lifestyle and eating habits is resulting in a rapid consumer shift towards high protein content and gluten-free and low-calorie food products. Consumer demand for such healthy food options is increasing significantly in countries such as the U.S., U.K., and Japan. Increasing demand for value-added products in various countries is prompting manufacturers to offer healthy pasta and other convenience food products with additional nutritional benefits. This increasing demand for pasta is creating robust development in the pasta segment. A substantial percentage of total revenue from pasta and couscous food products comes from the organized retail format. With economies growing, the retail chain is growing rapidly, which is predicted to drive demand for pasta in developing economies.
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Pasta segment is anticipated to account for a relatively high revenue share in the North America pasta and couscous market over the forecast period
The pasta segment is estimated to be valued at more than US$ 5,000 Mn by 2017 end and is anticipated to increase at a CAGR of 3.4% over the forecast period, to be valued at more than US$ 7,000 Mn by the end of 2026. In Latin America, the segment is projected to create absolute $ opportunity of more than US$ 150 Mn in 2017 over 2016 and incremental $ opportunity of little more than US$ 2,500 Mn between 2016 and 2026. In Europe the segment is likely to increase at a CAGR of 3.5% over the forecast period. In APAC, the pasta segment is projected to be valued at a little more than US$ 1,000 Mn by the end of 2026.