In a recent published report, Kenneth Research has updated the market report for Pasta and Noodles Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Pasta and Noodles Market products.
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The pasta and noodles market was valued at USD 60.3 billion by 2017, growing with 3.5% CAGR during the forecast period, 2018-2025.
The global pasta and noodles market is primarily driven by the wide variety of products offered by key players which has created an ample opportunity for producers. Growth is also attributed to the rise in number of working individuals who prefer having ready-to-eat foods. Producers might consider expanding their product portfolio to gain a strong foothold in the worldwide market. For example, in May 2019, the US fast-casual restaurant, Noodles & Company, introduced two new zucchini-based menu options, viz. Zucchini and Asparagus with Lemon Sauce and Zucchetti in White Wine Garlic Sauce with Balsamic Chicken due to the overwhelming response to its Zoodle dishes. Such introductions would in turn stimulated the product demand, driving the industry growth.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Pasta and noodles are majorly divided into three product categories; ambient, chilled and dried. Among which, ambient pasta and noodles accounted for the highest revenue share owing to the high product demand and wide variety in terms of taste and flavour available commercially. The factors of longer shelf life and convenience are further foreseen to push the segment growth.
Geographically, Asia Pacific region is anticipated to secure a substantial share of the worldwide pasta and noodles market owing to the considerable demand for these products in emerging economies such as India and China. Also, it is noted that wide consumers consider noodles as a staple food in this region which supports the growth further.
Key Vendor Takeaway
Key players such as De Cecco, Conad, BRF Brazil Foods, Delverde, Barilla, Nestlé, ITC, Nissin Foods, Kraft Heinz Company, and ConAgra Foods are operating in this industry. Besides introducing new products, players are expanding their presence all across the world. Companies are also investing in developing new products to attract customer base.
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A Swiss multinational food and drink company, Nestlé, is one of the major players of the global pasta and noodles industry. During the year April 2019, the company launched R&D Accelerator to boost speed-to-market and innovation through advancement of science and technology while bringing together students, start-ups, and its scientists.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
Traders, Distributors, and Suppliers
Government and Regional Agencies
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT
Ambient Pasta and Noodles
Chilled Pasta and Noodles
Dried Pasta and Noodles
MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of the World
Middle East and Africa
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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