According to the latest report by IMARC Group, titled “Pasta Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global pasta market reached a value of more than US$ 11 Billion in 2017, exhibiting a CAGR of nearly 4% during 2010-2017. Pasta is an Italian dish which is popular across the world owing to its convenience and health benefits. It can be prepared using a wide array of raw materials such as durum wheat, semolina, wheat flour, etc. Pasta is available in different forms and flavors which vary depending upon the tastes and preferences of a region. In recent years, the demand for pasta has been majorly influenced by the young population who prefer packaged and easy-to-prepare food products.
Global Pasta Market Trends:
Pasta is known to reduce the risk of high blood pressure and cardiovascular diseases as it has low-sodium and cholesterol content. Its high nutritional value and rich carbohydrate content have led to a rise in the consumption of pasta among the health-conscious consumers. Apart from this, western influences have created a shift in the eating habits of the consumers, particularly in the developing nations, which offer optimum opportunities for the global pasta market to flourish. The manufacturers are also offering a wide variety of pasta products which cater to the changing tastes and preferences of the consumers. Additionally, various product innovations such as introduction of gluten-free, vegan and organic pasta have been able to attract a larger consumer-base. Looking forward, the market is projected to reach a value of more than US$ 14 Billion by 2023.
Global Pasta Market Summary:
- Based on type, dried pasta is the most popular product, accounting for the majority of the market share. This can be attributed to its longer shelf-life, low cost and convenience in storing as compared to other types of pasta. Other major product types are chilled/fresh pasta and canned/preserved pasta.
- On the basis of raw material, the report finds that durum wheat semolina dominates the market, holding the largest share as it contains high amounts of protein. Other major raw materials are wheat, mix, barley, rice and maize.
- Based on distribution channel, the market has been segmented into supermarkets, hypermarkets, discounters, independent small grocers, online and others. Amongst these, supermarkets represent the largest distribution channel as they offer convenience to the consumers by providing an array of products under one roof.
- On a geographical front, Europe enjoys the leading position with nearly a half of the total global share. Other major regions are North America, Asia Pacific, Latin America, and Middle East and Africa.
- The competitive landscape of the market has also been examined with some of the key players being Barilla Holding, Grupo Ebro Puleva, Nestle, De Cecco and Makfa.
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