NEW YORK, Jan. 5, 2024 /PRNewswire/ — The pasta sauce market is expected to grow by USD 2.08 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 5.74% during the forecast period. Growing demand for international cuisine is notably driving the pasta sauce market. However, factors such as frequent product recalls may impede market growth. The market is segmented by application (dried pasta and others), distribution channel (offline and online), and geography (Europe, North America, South America, Middle East and Africa, and APAC).
Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The Free sample report is available in PDF format
Key Segment Analysis
- The market growth by the dried pasta segment is significant during the forecast period. This segment is widely available and highly consumed worldwide due to its longer shelf life and easy storage which fuels the growth of this segment. In addition, as health-conscious people are shifting toward a plant-based and protein-rich diet, companies are investing in the development of new varieties of dry pasta, which is protein-rich which is positively impacting the growth of the segment. Furthermore, the demand will increase further due to more product launches and the popularity of private-label brands in developed countries. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
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Geographical Market Analysis
- Europe accounts for 37% of the market growth during the forecast period. Factors such as the variety of companies offering new products, a greater disposable income, and the rising trend of popular ethnic cuisine is fuelling the growth of the market in the region. In addition, some of the largest countries contributing to the market includes Italy, Germany, France, UK, Sweden, Spain, and Russia. Hence, such factors are driving the market growth in Europe during the forecast period.
Company Insights
The pasta sauce market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including:
B and G Foods Inc., Barilla G. e R. Fratelli Spa, Campbell Soup Co., Coles Group Ltd., Conagra Brands Inc., Del Monte Pacific Ltd., DeLallo Inc, Ebro Foods SA, F.lli De Cecco di Filippo SpA, F.lli Sacla Spa, Hormel Foods Corp., LiDestri Food and Drink, Mars Inc., McCormick and Co. Inc., NutriAsia Inc., Premier Foods Plc, The Kraft Heinz Co., Veeba Food Services Pvt. Ltd., Wakefern Food Corp., and Target Corp.
View the Free PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
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Pasta Sauce Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.74% |
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Market growth 2023-2027 |
USD 2.08 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
4.9 |
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Regional analysis |
Europe, North America, South America, Middle East and Africa, and APAC |
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Performing market contribution |
Europe at 37% |
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Key countries |
US, Canada, Italy, Germany, and Brazil |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
B and G Foods Inc., Barilla G. e R. Fratelli Spa, Campbell Soup Co., Coles Group Ltd., Conagra Brands Inc., Del Monte Pacific Ltd., DeLallo Inc, Ebro Foods SA, F.lli De Cecco di Filippo SpA, F.lli Sacla Spa, Hormel Foods Corp., LiDestri Food and Drink, Mars Inc., McCormick and Co. Inc., NutriAsia Inc., Premier Foods Plc, The Kraft Heinz Co., Veeba Food Services Pvt. Ltd., Wakefern Food Corp., and Target Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Distribution Channel
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
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Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
