The new report by Expert Market Research titled, ‘Global Pasta Market Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the Indian global pasta market, assessing the market based on its segments like types, raw materials, distribution channels, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Pasta Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Value (2020): USD 8 Billion
- Forecast CAGR (2023-2028): 2.5%
- Forecast Market Size (2026): USD 16 Billion
|Market Size in 2020||USD 13.8 billion|
|Revenue Forecast in 2026||USD 16 billion|
|Growth Rate CAGR||2.5%|
|Major Players||Barilla G. and R. Fratelli SpA, Nestle SA, F.lli De Cecco di Filippo SpA (De Cecco),
Makfa JSC, Durum Gida Sanayi Ve Ticaret A.S., General Mills, Inc. and others
The increasing inclination of consumers towards versatile and easy-to-prepare cuisines owing to the changing lifestyles is driving the market. The increasing demand for packaged lasagne and frozen pasta from the eat-at-home segment is further adding to the market growth. Over the forecast period, the thriving retail sector is likely to provide impetus to the dry, fresh, refrigerated, and stuffed pasta items. This will augment the market growth.
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In terms of region, Europe accounts for a significant share of the market owing to the increasing popularity of Italian pasta dishes, which is getting aided by the flourishing travel and tourism industry. Pasta is one of the most crucial parts of the Italian cuisine and has a wide consumer base due to the same. This factor itself is driving significant growth of the market.
Pasta Industry Definition and Major Segments
Pasta is defined as a cuisine which is made up of ingredients such as flour, egg, and water. Pasta can be prepared in different shapes and sizes. Pasta with different shapes is named differently, such as spaghetti, ravioli, and lasagne, among others. Moreover, pasta can be prepared with vegetables and fruits, and sauce is used to compliment the cuisine.
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On the basis of type, the market can be segmented into:
- Dried Pasta
- Chilled/Fresh Pasta
- Canned/Preserved Pasta
The market can be broadly categorised on the basis of raw material into:
- Durum Wheat Semolina
Based on distribution channel, the market has been divided into:
- Supermarkets/ Hypermarkets
- Convenience Stores
- Speciality Stores
The regional markets for pasta include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Pasta Market Trends
The increasing penetration of pasta in Mediterranean diets, Mexican cuisines, and Latin America dishes is likely to be a key trend in the market. The increasing awareness about pasta being a healthy ingredient which falls under the category of whole wheat, is bolstering the market growth.
Moreover, the thriving e-commerce industry, which is boosting the popularity of diversified pasta cuisines and dishes, is likely to be another crucial trend in the market. The rapid development of restaurants, hotels, and Italian restaurants providing affordable and high standards dining facilities is anticipated to propel the market growth in the forecast period.
Key Market Players
The major players in the market are Barilla G. and R. Fratelli SpA, Nestle SA, F.lli De Cecco di Filippo SpA (De Cecco), Makfa JSC, Durum Gida Sanayi Ve Ticaret A.S., and General Mills, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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