Branded Food Staple Market Set to Skyrocket to US$93 Billion by 2030: Fairfield Market Research
Amidst Rising Demand for International Flavours and Health-Conscious Choices, the Global Market for Branded Food Staple Expects a Bright Healthy Outlook. A Newly Published Report Highlights B2B Sector’s Dominance in Sales, and a Growing Role of Convenience Foods, and Ready-to-Eat Solutions.
London, April 19, 2024 (GLOBE NEWSWIRE) -- Global *branded food staple market* is on track to witness robust growth, reaching an estimated market valuation of *US$93 Bn *by the end of *2030*. This surge from an approximate value of *US$58.3 Bn in 2022* represents a *CAGR of 6.9%* over the forecast period, according to industry experts. This growth is fuelled by the popularity of ethnic flavours, health and wellness trends, and innovative packaging solutions. North America, and Asia Pacific poised to lead market growth.*Get Sample Copy of Report at: **https://www.fairfieldmarketresearch.com/report/branded-food-staple-market/request-sample*
*REPORT SCOPE*
Report Attributes Details
Base Year 2022
Forecast Year 2023 – 2030
Market Size in 2022 US$58.3 Bn
Estimated Market Size in 2030 US$93.0 Bn
CAGR 6.9%
Growth Drivers · Changing Dietary Preferences Worldwide
· Advancements in Production, and Packaging
· Focus on Brand Recognition, and Consumer Trust
Segmentation · By Product Type (Grains, Pulses, Spices, Value Added, Others)
· By Distribution Channel (B2B, B2C)
Regional Coverage · North America (US, Canada)
· Europe (Germany, UK, France, Italy, Turkey, Russia, Rest of Europe)
· Asia Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia Pacific)
· Latin America (Brazil, Mexico, Rest of Latin America)
· Middle East & Africa (GCC, South Africa, Rest of Middle East & Africa)
Innovations in production and packaging, such as vacuum sealing and antimicrobial coatings, are enhancing product stability, extending shelf-life, and reducing food waste. Moreover, eco-friendly initiatives are playing a vital role in fortifying the market prospects in the long run. Brands prioritising eco-friendly practices and packaging resonate with environmentally conscious consumers, helping to boost sales.
In line with the growing boom around ready-to-eat solutions, pre-packaged meal kits offering complete meal solutions and portion-controlled packaging are providing consumers with ease and versatility in their meal preparation. This will be a crucial booster to market growth, says the report.
“As the global branded food staple market continues to evolve, brands that embrace emerging trends, and innovative practices will benefit from the growing demand. With the market poised for substantial growth, the industry presents exciting opportunities for forward-thinking companies,” states the company’s analyst.
Rising demand for international flavours and health-conscious options is another important growth driver for the market, driven by the evolving consumer preferences for ethnic and global flavours, including ingredients from Mexican, Indian, Thai, and Mediterranean cuisines. This trend is further complemented by the increasing focus on health and wellness, with consumers seeking organic and non-GMO food essentials.
"Consumers are embracing diverse cuisines, and the demand for international flavours is reshaping the food industry," says a senior analyst, adding further, "Brands that innovate by offering unique, high-quality products are well-positioned to capitalise on these shifting preferences."
*For More Industry Insights Read:* *https://www.fairfieldmarketresearch.com/report/branded-food-staple-market*
*Key Research Insights*
· In 2022, the grains category, led by wheat flour and its various products, dominated the market.
· The B2B category, consisting of manufacturers and producers of branded food staples, played a major role in the industry in 2022.
· North America is expected to dominate the branded food staple market during the forecast period.
· Asia Pacific is anticipated to be the fastest-growing market region.
*Insights into Segmentation Analysis*
*Grains Segment Dominates in Sales, Spices Projected for Fastest Growth*
The grains segment took the lead in sales in 2022, propelled by the popularity of grain-based products such as oatmeal, granola, and rolled oats.
Pasta, made from wheat semolina, and corn-based items such as tortillas and cornbread are driving the grains market forward.
The spices category, however, is set for the fastest market growth, thanks to a focus on sustainable sourcing and the creation of spice blends that enhance a wide range of cuisines.
As consumers embrace ethnic and international flavours, branded spices are gaining popularity for their consistent quality and uniform packaging.
*B2B Channels Lead the Market, B2C to Rise*
The B2B segment outperformed others in 2022, with manufacturers supplying branded food products to businesses such as restaurants, hotels, and food service providers.
Advanced inventory management and data analytics are improving efficiency in meeting changing B2B customer demands.
The B2C category is poised for substantial growth, spurred by direct sales from producers or retailers to individual consumers.
Increased focus on health, wellness, and sustainable packaging is driving customer preference for branded food staples.
*Key Report Highlights*
· Consumers are looking for new things. There is a rise in demand for ethnic flavours, health-conscious options (organic, non-GMO), and even staples that fit into dietary trends like plant-based or gluten-free.
· While grains like flour and pasta are still the biggest sellers, spices are expected to be the fastest-growing segment due to the interest in exploring new flavours.
· Busy lifestyles are driving a demand for convenient and reliable branded staples. This means things like easy-to-cook options or pre-packaged ingredients that save time in the kitchen.
*Insights into Regional Analysis*
*North America Reigns as Prime Revenue Generator*
North America is expected to dominate the branded food staple market throughout the forecast period, given its diverse population with varied food preferences.
North American consumers seek convenience, leading to a surge in demand for branded convenience food staples such as ready-to-eat meals and meal kits.
The region's rising popularity of alternative proteins and plant-based diets is driving brands to innovate and cater to these consumer demands.
Brands catering to international flavours have access to a large market segment within the region.
*Asia Pacific Set for Explosive Growth*
Asia Pacific is anticipated to be the fastest-growing region in the branded food staple market, driven by the region's expanding middle class and rising disposable income.
This demographic often prefers branded goods for perceived quality and safety, boosting the market for food staples.
The region's rich culinary traditions and demand for authentic regional flavours create a thriving market for branded staples.
As consumers in the region, particularly in India, prioritize health and fitness, brands offering healthy options such as low-fat, low-sugar, organic, and gluten-free items are gaining traction.
Brands offering high-quality, safe food staples will find significant opportunities for growth in this region, where the demand for such products is rapidly rising.
*Key Players in Global Branded Food Staple Market*
· General Mills Inc.
· Nestlé
· Kraft Heinz Company
· Unilever
· The Kellogg Company
· The Coca-Cola Company
· Mars Incorporated
· Mondelez International Inc.
· PepsiCo Inc.
· Conagra Brands
· Archer Daniels Midland Company
· McCormick & Company
· The J.M. Smucker Company
· The Campbell Soup Company
· Hormel Foods Corporation
*Global Branded Food Staple Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Product Type Coverage, By Distribution Channel Coverage, By Geographic Coverage and Leading Companies): **https://www.fairfieldmarketresearch.com/report/branded-food-staple-market*
*About Us*
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
*Contact*
Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA (Toll-free) +1 (844) 3829746
Web: https://www.fairfieldmarketresearch.com/
Email: sales@fairfieldmarketresearch.com
LinkedIn | Twitter