Global Processed Food Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Processing Method (Freezing, Drying, Canning, Baking), By Product Type (Breakfast Cereals, Cheese And Dairy, Canned Vegetables And Fruits, Meat Products, Ready Meals, Cakes And Biscuits, Others), By Distribution Channel (Online, Offline), And By Geography - Forecasts From 2022 To 2027
- Published : Jul 2022
- Report Code : KSI061613599
- Pages : 118
The global processed food market is estimated to grow at a CAGR of 5.46% from US$1,632.358 billion in 2020 to US$2,367.922 billion in 2027.
The rising demand for quick and conveniently available food is significantly driving the demand for the processed food market. This has been primarily caused by a relative reduction in the leisure hours available to individuals, causing them to switch to packaged food.
North America is estimated to hold a significant share of the market.
The North American region is expected to hold a significant share over the forecast period because there is an increasing number of players involved in the provision of advanced and enhanced varieties of processed foods. In addition, there are increasing investments in R&D for better processing techniques and methods of equipment to contribute to the development of the well-established food and beverage sector.
In addition, the Asia Pacific region is expected to witness a significant increase in its market share over the forecast period, which is attributable to the fact that initiatives are being taken by the government to boost the food and beverage sector. There are also strict guidelines to follow known as the FSSAI (Food Safety and Standards Authority of India), which is the regulatory authority in judging the safety of foods and beverages sold in countries such as India. In addition, there is an increasing number of individuals, who are consuming good volumes of meat and seafood in different countries of this region, such as India, China, and Japan, among others.
Online distribution channels are growing at a significant pace owing to the convenience they offer.
The growth of the e-retail and e-commerce channels has been triggered due to the increased availability of high-speed internet services and the global penetration of the internet, thus making it easier for consumers to order different types of processed food online. These include items such as cheese, readymade soups, and canned fish among others, In addition, the lucrative discounts and convenience it provides are attracting more users, which is contributing to the growth of the segment over the forecast period.
Canning and freezing type of processing methods are gaining popularity at a considerable pace among consumers
There is an increasing number of individuals, that are becoming aware of leading a healthy lifestyle by consuming high-quality foods loaded with essential minerals and vitamins, which also have a good shelf life. This is causing most of the urban population to prefer easy and convenient food, In addition, their increased propensity to spend is causing the different types of canned food to gain popularity at a considerable pace and bolstering the demand for canning techniques in food processing.
In addition, the demand for frozen processing is also gaining popularity among individuals because many of them are preparing their meals for the week due to the lack of time. This is due to the lack of time as the working-class population is getting busier in their corporate lives, frozen fruits and vegetables can stay fresher for longer, and the sensitive vitamins and nutrients remain intact within the food.
Strict guidelines, and storage constraints, among some other rules, by different food safety organizations, and government bodies are encouraging the players to adopt and adhere to them to avoid the imposition of severe penalties.
Strict rules and guidelines must be followed during the processing of foods that reach consumers to ensure that no adverse effects occur and that the consumers' health does not deteriorate. For example, the processed foods that are manufactured must adhere strictly to the Hazard Analysis and Critical Control Point (HACCP) guidelines for seafood, juices, meats, and poultry among other products. In conjunction, Sanitary Standard Operating Procedures (SSOPs) must be followed to ensure that there is no contamination in the processed food that may pose harm to the consumers. Therefore, with the presence of these guidelines, the market players are strictly following them to avoid penalties and deliver top-quality products to the consumer, which is leading to a surge in the market’s growth.
Product Offerings by Major Market Players in the Processed Food MarketSpace
The offering of better and more advanced processed foods with enhanced shelf life and nutrient composition features, among others, such as quality, by existing and new players in different markets is estimated to lead to increased adoption and propel the market growth further over the forecast period.
Some of the examples of product offerings are as follows:
- Unilever, which is among the most well-known companies that house a lot of different brands under its portfolio, is involved in the provision of different kinds of food and beverage products to cater to the demand from consumers. One of the brands under Unilever is “Hellmann’s” and it offers products such as Hellmann’s Real Mayonnaise, Hellmann’s Light Mayonnaise, and Hellmann’s Mayonnaise with Olive Oil among others. In addition, it also offers mustard sauces and a range of BBQ sauces, creamy sauces, and salad dressings such as Thousand Island Salad Dressing, Honey Mustard Salad Dressing, and Coconut and Lime Salad Dressing among others.
- Kellogg’s, which is among the well-known companies that host different branded products under its portfolio offers different types of breakfast cereals among some other products. It offers breakfast cereals such as “Frosted Mini-Wheats, which are available in different flavors such as Strawberry, Pumpkin Spice, Blueberry, Chocolate, and Fruit Medley, among others. It also offers its famous Kellogg’s Corn Flakes which is consumed by a majority of the young and middle-aged population as a quick and on-the-go breakfast option in various types such as “Kellogg's Corn Flakes Crumbs” and “Kellogg's Corn Flakes Cereal”. In addition, it sells other products, which are particularly popular among the younger generation, such as Fruit Loops in different flavors such as Marshmallow Cereal and Wild Beer Cereal among the Traditional Original Flavor.
- Fortenova Frozen, the frozen food division of the Fortenova Group, was acquired by Nomad Foods Limited for about EUR 615 million in 2021, as previously announced.
- Under the name First Pride, Tyson Foods Inc. will distribute frozen Bites, Nuggets, & Stripsmade in certain retail markets & e-Commerce sites throughout the Asia-Pacific in 2021.
- Nestle invested US$100 million in 2021 to develop its frozen food facility in South Carolina, which produces products under the Stouffer's & Lean Cuisine brands.
- With the introduction of soy chunks in March 2021, Emami Agrotech, the edible oil division of the Emami Group, entered the processed food market.
- APEDA introduced reasonably priced gluten-free millet snacks for all age groups in April 2022. Products made from millet that are ready to eat include Upma, Khichadi, noodles, & Biryani.
COVID-19 Impact on the Processed Food Market
All global industries were significantly impacted by the COVID-19 pandemic, but the processed food market benefited from it. Since the start of COVID-19, the processed food industry has had a consistent expansion, and consumer demand for frozen foods has increased. For instance, the American Frozen Food Institute reports that frozen food products saw a 21% increase from 2019 to 2020. People's preference for goods with a longer shelf life is the main driver of this trend.
Global Processed Food Market Scope:
|Market size value in 2020||US$1,632.358 billion|
|Market size value in 2027||US$2,367.922 billion|
|Growth Rate||CAGR of 5.46% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Processing Method, Product Type, Distribution Channel, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Unilever, Nestle SA, The Kraft Heinz Company, The J.M. Smucker Company, CSC BRANDS, L.P., ADM, Tyson Foods, Inc., Kellogg NA Co., Conagra Brands, Inc., Hormel Foods Corporation|
|Customization scope||Free report customization with purchase|
- By Processing Method
- By Product Type
- Breakfast Cereals
- Cheese and Dairy
- Canned Vegetables and Fruits
- Meat Products
- Ready Meals
- Cakes And Biscuits
- By Distribution Channel
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
Q1. What is the size of the global processed food market?
A1. Processed Food Market was valued at US$1,632.358 billion in the year 2020.
Q2. What will be the processed food market size by 2027?
A2. The global processed food market is projected to reach a market size of US$2,367.922 billion by 2027.
Q3. What are the growth prospects for the processed food market?
A3. The processed food market is projected to grow at a CAGR of 5.46% over the forecast period.
Q4. What factors are anticipated to drive the processed food market growth?
A4. The rising demand for quick and conveniently available food is significantly driving the demand for the processed food market.
Q5. Which region holds the largest market share in the processed food market?
A5. The North American region is expected to hold a significant share in the processed food market owing to the fact that there is an increasing number of players involved in the provision of advanced and enhanced varieties of processed foods.
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Processed Food Market Analysis, by Processing Method
6. Global Processed Food Market Analysis, by Product Type
6.2. Breakfast Cereals
6.4. Tinned Vegetables
6.5. Meat Products
6.6. Ready Meals
6.7. Cakes And Biscuits
7. Global Processed Food Market Analysis, by Distribution Channel
8. Global Processed Food Market Analysis, by Geography
8.2. North America
8.2.1. North America Processed Food Market Analysis, By Processing Method
8.2.2. North America Processed Food Market Analysis, By Product Type
8.2.3. North America Processed Food Market Analysis, By Distribution Channel
8.2.4. By Country
126.96.36.199. United States
8.3. South America
8.3.1. South America Processed Food Market Analysis, By Processing Method
8.3.2. South America Processed Food Market Analysis, By Product Type
8.3.3. South America Processed Food Market Analysis, By Distribution Channel
8.3.4. By Country
8.4.1. Europe Processed Food Market Analysis, By Processing Method
8.4.2. Europe Processed Food Market Analysis, By Product Type
8.4.3. Europe Processed Food Market Analysis, By Distribution Channel
8.4.4. By Country
8.5. Middle East and Africa
8.5.1. Middle East and Africa Processed Food Market Analysis, By Processing Method
8.5.2. Middle East and Africa Processed Food Market Analysis, By Product Type
8.5.3. Middle East and Africa Processed Food Market Analysis, By Distribution Channel
8.5.4. By Country
188.8.131.52. Saudi Arabia
184.108.40.206. United Arab Emirates
8.6. Asia Pacific
8.6.1. Asia Pacific Processed Food Market Analysis, By Processing Method
8.6.2. Asia Pacific Processed Food Market Analysis, By Product Type
8.6.3. Asia Pacific Processed Food Market Analysis, By Distribution Channel
8.6.4. By Country
220.127.116.11. South Korea
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.2. Nestle SA
10.3. The Kraft Heinz Company
10.4. The J.M. Smucker Company
10.5. CSC BRANDS, L.P.
10.7. Tyson Foods, Inc.
10.8. Kellogg NA Co.
10.9. Conagra Brands, Inc.
10.10. Hormel Foods Corporation
The Kraft Heinz Company
The J.M. Smucker Company
CSC BRANDS, L.P.
Tyson Foods, Inc.
Kellogg NA Co.
Conagra Brands, Inc.
Hormel Foods Corporation
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