Pasta 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 positive 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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This report includes a study of strategies used in the market, mergers and acquisitions in pasta, as well as multiple product launch by pasta market players. It further includes product portfolios and developments of leading major players which includes:
Nestlé 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)
The Global Pasta Market is mainly occupied by some key manufacturers. The competitive environment in this market is estimated to increase, with an increase in product portfolio from current key players. Most of the companies operating in this market are focusing on expanding their operations geographically, augmenting its capabilities and investing in research and development to offer products with better functionality.
Pasta Global Market - Segmentation
For the convenience of the report and enhanced understanding; the report segmented in to 6 key dynamics.
By Main Ingredients : Comprises Wheat, Rice, Maize, Chickpea and others.
By Functionality : Organic, Gluten-Free and Vegan.
By Distribution Channel : Non-Store Based and Store Based.
By Form : Dried and Fresh.
By Type : Spaghetti, Penne, Fettuccine and others.
By Regions : North America, Europe, APAC and Rest of the World.
Worldwide Pasta Market – Regional Analysis
Europe region retaining its dominance will register a CAGR of 5.72% during the review period.
Whereas, Asia Pacific region emerging as the fastest growing market for pasta is expected to register 6.22 % of CAGR attributing to the pervasive growth in the countries like India, China, Japan and ASEAN countries. Growing demand for ready to eat food products especially in China and India will support the market growth during the review period. Similarly, the high consumption of processed and convenience food products in growing economies of Asia-Pacific supports the regional market growth.
Latin American countries, offer ample expansion opportunities for major players owing to the great demand for the fast food & convenience food products.
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Store based segment is anticipated to account the maximum market share in the Global pasta market throughout the forecast period of 2017-2023.
The spaghetti segment is projected to register the higher growth rate (5.77%) during the forecast period of 2017 to 2023.
In Europe region Italy dominates the market, and is expected to grow at CAGR of 5.72%