NEW YORK, May 29, 2024 /PRNewswire/ — The global packaged food market size in US is estimated to grow by USD 489.88 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.89% during the forecast period.
For more insights on the forecast market size and historic data (2018 – 2022) – Download Free sample report in minutes
Technavio has announced its latest market research report titled Packaged Food Market in US 2024-2028
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Forecast period |
2024-2028 |
|
Base Year |
2023 |
|
Historic Data |
2018 – 2022 |
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Segment Covered |
Method (Packets, Bottles, Boxes, Cans, and Others), Distribution Channel (Offline and Online), Type (Bakery and cereals, Dairy products, Snacks and nutritional bars, Beverages, and Others), and Geography (North America) |
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Region Covered |
US |
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Key companies profiled |
B and G Foods Inc., Campbell Soup Co., Cargill Inc., Conagra Brands Inc., General Mills Inc., Hormel Foods Corp., JBS SA, Kellogg Co., Mars Inc., McCormick and Co. Inc., Mondelez International Inc., Nestle SA, PepsiCo Inc., The Coca Cola Co., The Hershey Co., The J.M Smucker Co., The Kraft Heinz Co., Tyson Foods Inc., Unilever PLC, and WH Group Ltd. |
Key Market Trends Fueling Growth
The packaged food market in the US is witnessing a significant shift towards transparent ingredient lists and fewer chemicals. Consumers are prioritizing health and avoiding artificial additives, preservatives, and high sugar or salt levels.
In response, packaged food companies are offering all-natural fruit snacks with no added sugars and packaged salads with fresh, locally sourced components. International firms are also adapting by supplying halal-certified, minimally processed snacks. This trend aligns with consumer values and is expected to fuel market growth during the forecast period.
The packaged food market in the US is experiencing significant trends. Consumers are seeking convenience and nutrition in their food choices. Brands are focusing on innovation, such as plant-based and functional foods. Sustainability is a key concern, with many companies using biodegradable packaging. E-commerce sales are growing, making it essential for brands to have a strong online presence.
The organic and natural food categories continue to gain popularity. Brands are also investing in research and development to create new and exciting products. The future of the packaged food market in the US is promising, with a focus on meeting consumer demands for health, convenience, and sustainability.
Market Challenges
The US packaged food market faces challenges due to strict regulations. FDA enforces nutrition labeling and health claims, limiting marketing strategies. Food additives and ingredients approval is time-consuming and costly, hindering innovation.
Allergen labeling impacts product formulations and scope. Food safety standards require significant investments in quality control. Marketing and advertising practices are restricted, affecting product communication. Despite these challenges, regulations ensure consumer protection and public health.
The packaged food market in the US faces several challenges. Foods and beverages, including fruits, vegetables, dairy, and grains, require preservation to ensure longevity and safety. Foods also need to appeal to consumers’ tastes and preferences. Sustainability is a significant concern, with consumers demanding eco-friendly packaging. Consumers are increasingly aware of the health implications of their food choices, leading to a demand for healthier options. Urbanization and convenience are driving the growth of the packaged food market.
However, the high cost of production and distribution, as well as increasing competition, pose challenges for market players. Consumers also expect affordable prices, making it essential for companies to optimize their supply chains and production processes. Additionally, the regulatory environment is complex, with various food safety and labeling requirements that must be met.
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Segment Overview
Method
1.1 Packets
1.2 Bottles
1.3 Boxes
1.4 Cans
1.5 Others
Distribution Channel
2.1 Offline
2.2 Online
Type
3.1 Bakery and cereals
3.2 Dairy products
3.3 Snacks and nutritional bars
3.4 Beverages
3.5 Others
Geography
4.1 North America
1.1 Packets- The Packaged Food Market in the US is experiencing significant growth in the packets segment. This trend aligns with consumers’ busy lifestyles and preference for convenient, portable, and portion-controlled food solutions. Single-serve coffee, condiments, and instant oatmeal are popular examples. Health-conscious consumers also benefit from packet foods, which offer healthier choices and enhanced food safety. The sealed and convenient nature of packets is particularly appealing in the post-COVID-19 era. Brands cater to these trends by introducing health-focused, customizable, and on-demand packet foods.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report
Research Analysis
The Packaged Food Market in the US continues to evolve, driven by shifting consumer preferences towards convenience, health, and wellness. Consumers increasingly seek out Organic Foods, Ready-to-Eat Meals, and Snack Foods with clear Food Labeling and Nutritional Information. Functional Foods, including Frozen Foods, Dairy Products, Meat Products, Plant-Based Foods, Gluten-Free Products, and Specialty Foods, cater to various dietary needs and preferences.
E-commerce platforms have disrupted the Supply Chain, enabling faster access to a wide range of Food Innovations from Food Manufacturers and Private Labels. Food Quality and Brand Loyalty remain crucial factors, with Ethnic Foods and Food Allergies influencing market trends.
Market Research Overview
The Packaged Food Market in the US is a significant sector, encompassing various product categories such as baked goods, convenience foods, dairy products, frozen foods, meat, poultry, and seafood. The market is driven by factors like changing consumer preferences, increasing urbanization, and convenience. Consumers are increasingly opting for packaged foods due to their longer shelf life, ease of use, and health benefits.
The market is also witnessing a trend towards clean labeling and organic products. Sustainability and e-commerce are emerging trends in the packaged food industry. The market is segmented by product type, distribution channel, and region. The convenience food segment is expected to dominate the market due to the hectic lifestyles of consumers. The market is expected to grow at a steady pace in the coming years.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Method
Packets
Bottles
Boxes
Cans
Others
Distribution Channel
Offline
Online
Type
Bakery And Cereals
Dairy Products
Snacks And Nutritional Bars
Beverages
Others
Geography
North America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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
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SOURCE Technavio