Packaged Food & Drinks Market Set To Grow To $3,871 Bn By 2027
13 August 2018
Visiongain has launched a new report Packaged Food & Drink Market Report 2017-2027: Forecasts, Segmentation And Analysis By Type (Non-Alcoholic Drinks, Ready Meals, Instant Noodles, Nuts, Soups, Baby Food, Potato Chips, Breakfast Cereals, Baked Goods, Pasta, Cheese, Biscuits, Yogurts, Sauces, and Ice Cream) & By Region Plus Analysis of Leading Companies. Visiongain’s new report reveals that the packaged food & drinks market will achieve revenues of $2.89 Tn in 2017 and is on course for a strong growth trajectory.
Packaged food & drink includes food articles which are ready for consumption, partially cooked or require slight heating right before eating. Factors such as increasing awareness regarding the multiple benefits of healthy packaged food & drink and organized retailing are fostering the growing demand of packaged food. However, growing awareness towards the use of harmful preservatives, stringent government regulations imposed on the food industry and the possibilities of food contamination are some of the main challenges which are likely to restrain the growth of the packaged food & drink market.
The Visiongain report analyst commented “The packaged food & drinks market is projected to register growth owing to increase in demand for ready to eat meals as well as rise in consumption of non-alcoholic beverages. Packaged food & drink contains carbohydrates, minerals, fats, proteins and vitamins, which are pivotal in replenishing the growth of the human body. The whole concept of packaged food & drink came into existence owing to factors such as convenience, protection against external tampering, easy cooking and consumption. Changing lifestyles, convenience of consumption and increased health awareness are the main factors driving the growth of the packaged food & drink market. Some of the factors hindering the growth of the market are food contamination, and government regulations. The leading players in the market have been focusing on mergers and partnerships as their key strategies to expand their market presence.”
Leading food & drink companies featured in the report include Nestle S.A., Tyson Foods, Inc., Kraft Heinz Company, General Mills, Inc., ConAgra Foods, Inc., Smithfield Foods, Kellogg Company, JBS S.A., Hormel Foods Corporation, and Maple Leaf Foods
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