Pasta Market Overview
Pasta Market is made up of flour and egg, unleavened dough and produced in a variety of forms, usually served with a sauce which is of Italian origin. Pasta dough is typically made of wheat flour or semolina with durum wheat mainly in the South Italy and soft wheat in the North Italy. Regionally other grains have been used, including those from rice maize, chickpea flours, and others. Pasta are readily available and offers diverse selection to the consumers as they come in multiple brands. Most consumers prefer dried pasta with no added flavor, although colored dried pasta seasoned with spinach, beetroot or tomato are the popular choices. Traditional varieties such as spaghetti, are the most popular forms. Product innovation, value-added product and low cost will contribute to growth for dried pasta. Thus, due to growing demand from various end users globally, the market for pasta is estimated to grow at the rate of about 5.85 % from 2017 to 2023.
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The emerging market opportunities for pasta appear to be conducive for the acceptance of convenience food in Middle East and Latin America. It is principally useful in the challenging environments, where resources are insufficient and cultivation is tough, hence demand for processed in region especially where water resource is also scarce. . The trend of consumption of pasta began in European countries and it spread to other regions rapidly due to globalization. Looking at the economic development at global level and specifically for BRIC countries, the increasing purchasing power of consumers, convenience trends are likely to remain significant. The increasing consumption of Pasta is driven by this desire to create more leisure time which means that consumers like to maximize their free time along with their disposable income and spend more time doing the things they value more.
Key Players Interest:
Key players in the global Pasta Market are emphasizing to enhance their investment in product development in order to extend the product line. Also, the companies are also inclined to increase their footprint across the world by acquiring local and regional players. Apart from that, the companies are introducing their products in the developing economies in order to penetrate in the untapped market.
Italy will dominate the Europe market
APAC is projected to grow at the fastest rate in the coming years owing to increasing demand for pasta from the working-class population. Due to the cheap raw materials & low production costs as well as less stringent environment regulations Asia-Pacific region is in a better position to produce starch at more competitive prices than developed countries in European and North American region.
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This report includes a study of strategies used in the Pasta Market, mergers and acquisitions, multiple product launch by pasta market players. It further includes product portfolios and developments of leading major players which includes
- Nestle SA (Switzerland)
- Ajinomoto Co., Inc. (Japan)
- The Unilever Group (Pot Noodles) (U.K.)
- Campbell Soup Company (U.S.)
- Nissin Foods Co., Ltd (Hong Kong)
- Capital Foods Limited (India)
- ITC Limited (India)
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Pasta market is dominated by key manufacturers and very few new players are entering in pasta market due to high investment cost require for, pasta food safety testing, certification and pasta processing. The global pasta industry is expected to witness increase in mergers, acquisition and strategic alliance in upcoming years.
This research report has provided the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the global plate heat exchanger device market, including the high-growth regions, countries and their political, economic and technological environments. Furthermore, the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.
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