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Pasta Market Growth, Segments, Size, Share, Latest Trends and Forecast by 2029

The global pasta market size was valued at USD 43.63 billion in 2021. The market is projected to rise from USD 46.84 billion in 2022 to USD 77.83 billion by 2029 at 7.52% CAGR during the forecast period 2022-2029. Fortune Business Insights™ has deep-dived into these insights in its latest research report titled, “Pasta Market, 2022-2029.”

According to the study, pasta products will be sought-after across advanced and emerging economies, partly due to the trend for the Western diet. Moreover, soaring penetration of ready-to-cook food products has boosted the industry's growth. However, mixed impact from the COVID-19 pandemic compelled stakeholders to redefine their strategies.

Major Players Profiled in the Pasta Report:

Barilla G. e R. F.lli S.p.A. (Italy)
Ebro Foods, S.A. (Spain)
CAMPBELL SOUP COMPANY (U.S.)
TreeHouse Foods, Inc. (U.S.)
Unilever (U.K.)
The Kraft Heinz Company (U.S.)
BORGES INTERNATIONAL GROUP (Spain)
Nestlé (Switzerland)
F.lli De Cecco di Filippo S.p.A (Italy)
Armanino Foods of Distinction (U.S.)
Drivers and Restraints

Rising Footfall of Convenient Food to Underpin Industry Growth

Industry participants expect the trend for ready-to-eat food products to boost the pasta market growth during the forecast period. The Unione Italiana Food and ICE Agency claims that the product consumption surged in Germany, Italy, the U.S., and France during lockdown. Strong consumption of the product amidst the pandemic will foster the business outlook. Notably, the dish has become an invaluable part of diet globally. According to Oxfam, it is regarded as the favorite dish in the world. Current trends suggest leading companies will continue to inject funds into the market landscape.

However, low wheat production along with aversion toward high-calorie food could bring a notable shift in the industry. A notable surge in health-conscious consumers will compel industry players to rethink their strategies.

Regional Insights

Europe to Offer Promising Opportunities with Growing Footfall of Gluten-free Dish

A palpable surge in millennials and the Gen Z population across the U.K., France, and Italy has brought a paradigm shift in the product manufacturing. Prominently, manufacturers have upped investments in gluten-free products. The market in Europe was valued at USD 18.35 billion in 2021 and will witness a similar trend owing to the demand for chilled products.

The Asia Pacific pasta market share will observe an appreciable gain during the forecast period due to the presence of leading companies across China, Japan, Australia, and India. A gradual rise in purchasing power in emerging economies could aid the regional growth. The demand for traditional recipes and methods for cooking the product will be noticeable in the ensuing period.

Industry participants are poised to inject funds into the North America industry following the penetration of online channels and convenience stores. Health-conscious consumers are likely to encourage manufacturers to streamline the supply chain process. Industry participants expect chilled and dried products to gain traction across the U.S. and Canada.

Competitive Landscape

Industry Players to Invest in Product Launches to Grow their Portfolio

Well-established players and emerging companies are predicted to focus on mergers & acquisitions, product launches, technological advancements, and R&D activities. Current trends indicate leading companies are slated to focus on geographical expansion during the forecast period.

Browse In-depth Summary of This Research Insight:

https://www.fortunebusinessins....ights.com/pasta-mark

Hummus Market Report, Size, Share, Revenue, Segmentation, Development Insights and Forecast by 2028

The global hummus market size is set to gain momentum from the increasing shift of people towards the vegan diet, especially in Europe and North America. The surging awareness of environmental sustainability and animal welfare is compelling people to opt for plant-based dips. As per Statista, in the U.S., sales of refrigerated plant-based dips went up to USD 11 million in April 2019. As per the report, the market size was USD 2.62 billion in 2020. It is predicted to grow from USD 2.95 billion in 2021 to USD 6.60 billion in 2028 at a CAGR of 12.17% in the forecast period.

Companies profiled in the hummus market report are:

Nestlé S.A. (Vevey, Switzerland)
Cedar’s Mediterranean Foods, Inc. (Massachusetts, U.S.)
Haliburton International Foods, Inc. (California, U.S.)
Strauss Group, Ltd. (Sabra Dipping Company, LLC) (Petah Tikva, Israel)
Bakkavor Group Plc (London, United Kingdom)
Tribe Hummus (Massachusetts, U.S.)
Boar’s Head Brand (Florida, United States)
Hummus Gourmet, LLC (Lantana Foods) (Texas, U.S.)
The Kraft Heinz Company (Illinois, U.S.)
Hope Foods, LLC. (Colorado, U.S.)
Drivers & Restraints:

Rising Usage of Functional Ingredients to Improve Immunity will Aid Growth

Consumers across the globe are nowadays demanding for unique flavors in their dips. Hence, several manufacturers are striving constantly to come up with novel products to cater to the taste and preferences of consumers. O'Dang Foods, for instance, introduced two new flavors of balsamic feta and classic Mediterranean hummus in the U.S. in June 2020 to fulfill the high demand for Mediterranean cuisine. A few other companies are equipping their dips with various functional ingredients, such as lime, turmeric, blueberry, and lavender because of the ongoing COVID-19 pandemic for enhancing immunity. However, the increasing availability of substitutes, namely, salsa and tahini may hamper the hummus market growth.

Regional Insights:

North America to Dominate Fueled by Higher Consumption of Dips and Spreads in the U.S.

Geographically, North America held USD 1.33 billion in terms of revenue in 2020. It is anticipated to dominate the market in the upcoming years. The surging consumption and production of spreads and dips, especially in the U.S. would bolster growth. Also, companies are trying to produce attractive and new dips to generate more sales. Argania Foods, for instance, introduced vegan cauliflower keto hummus dip in the U.S. in December 2019. On the other hand, Europe is likely to remain in the second position backed by the high popularity of the product in the U.K. In Asia Pacific, the rising disposable income of people is expected to aid growth.

Segments:

Classic Segment Earned 41.40% Share in 2020: Fortune Business Insights™

Based on type, the market is divided into red pepper, classic, black olive, white bean, roasted garlic, and others. Out of these, the classic segment is set to remain at the forefront in the near future because of its versatility and easy availability. It can be consumed as a dip, spread, or appetizer. At the same time, it is highly nutritious and naturally gluten-free. The segment generated 41.40% in terms of the hummus market share in 2020.

Competitive Landscape:

Key Players Focus on New Product Development to Intensify Competition

The global market houses a large number of international and local companies that are constantly launching state-of-the-art products in various sizes to meet consumers’ needs. Most of them are conducting R&D activities to create unique dips.

Browse In-depth Summary of This Research Insight:

https://www.fortunebusinessins....ights.com/hummus-mar

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Seafood Market Trends, Revenue Growth Rate And Application Scope 2029

The global seafood market size was USD 310.75 billion in 2021 and is projected to grow from USD 333.25 billion in 2022 to USD 605.46 billion by 2029, exhibiting a CAGR of 8.92% during the 2022-2029 period.

Source Link :

https://www.fortunebusinessins....ights.com/industry-r

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