The status of convenience food options in the end-user base is very favorable, and this trend is anticipated to bolster the pasta market. The food, beverages & nutrition industry reports are formed by Market Research Future, emphasizing market opportunities for growth. A 5.85% CAGR is projected to encourage market progress in the impending period.
The short cooking time and ease of accessibility to pasta products have led to its deeper proliferation in the various geographical market; this is believed to boost the pasta market share in the forecast period. The availability of healthier varieties for pasta is anticipated to augment the global pasta market in the forthcoming period.
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Segmental Analysis
The segmental investigation of the pasta market has been conducted on the basis of sources, type, distribution channel, functionality, and region. Based on the type, the pasta market is segmented into penne pasta, spaghetti pasta, rotini pasta, fettuccine pasta, and others. The pasta market regions are Europe, North America, Asia Pacific, and other critical regions. The store-based and non-store based are created on the basis of distribution channel type in the pasta market. By functionality, the pasta market includes vegan, organic, and gluten-free. On the basis of sources, the pasta market encompasses rice, maize, chickpea, whole wheat, and others.
Detailed Regional Analysis
The pasta market's regional appraisal includes the development in the regions of Europe, North America, Asia Pacific, and other critical regions. The European region's pasta market is anticipated to preserve its authority in the forecast period and develop steadily. The Asia Pacific region will be the fastest mounting region in the pasta market. The advanced expansion in developing economies such as China, Japan, India, and ASEAN nations are projected to further the share of the region in the market. The Latin American nations are anticipated to show plenty of expansion prospects for major companies. The elevated utilization of processed and convenience food products in the Latin American region's mounting markets and mounting demand for ready to eat food products, particularly in the region, will aid the market development all through the upcoming period.
Competitive Analysis
The stabilization of output in the market is estimated to be varied. Each manufacturer is estimated to make decisions on a microeconomic level to ensure long-term business growth and continuity in the forecast period. The hypervigilance sentiment in the pandemic's wake is estimated to direct decisions for operation in the market through the forecast period. The market is anticipated to see an improvement in growth cues in the near future. The regained market potential is estimated to aid in the expansion of the global market. The decisive policies being created by government bodies around the world are assessed to play a vital role in the advancement of the market on a global scale. The restructuring of the market's core operations is predicted to impact the market in the approaching period. The surge in innovative products in the global supply chain is anticipated to open up novel possibilities in the forecast period. The drastic changes in the global financial intermediation structure due to the COVID-19 pandemic are assessed to change how businesses secure financing in the coming period.
The noteworthy companies profiled in the pasta market are Ajinomoto Co., Inc. (Japan), Nestlé SA (Switzerland), The Unilever Group (Knorr) (U.K.), Nissin Foods Co., Ltd (Hong Kong), Campbell Soup Company (U.S.), Capital Foods Limited (India), and ITC Limited (India).
Industry Updates:
Oct 2020 Spain's Ebro Foods has decided to sell its Catelli dried pasta concern in Canada to Italian counterpart Barilla, along with a manufacturing facility in Montreal. The agreement is being carried out through Madrid-listed Ebro's holding in Canada.
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