Pasta is a type of Italian dish that represents one of the most accessible & healthy carbohydrate-rich foods. It is made from unleavened dough that consists of wheat durum flour and water or eggs. It is generally available in different sizes or shapes. It can be supplementary to soups, served cold with other ingredients in a salad, boiled & served with a sauce, stuffed with cheese, meat, or vegetables and then boiled & baked.
According to study, “Global Pasta Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” the key companies operating in the global pasta market are Maffei, Voltan SpA, RP’s Pasta Company, Ugo Foods Group, Waitrose, SpaghettoFactory, Giovanni Rana, Marcello Raffetto, Pastificio Gaetarelli, Pappardelle’s Pasta, Lilly’s Fresh Pasta, The Fresh Pasta Company, Pastificio Mansi, Pastificio Brema, Pasta Jesce. To entice consumers, small & large manufacturers are now experimenting with various ingredients ranging from rice flour and chickpea flour to tomato, carrot, spinach, or beet juices and different herbs or spices for enhanced flavor & color.
Based on type, pasta market is segmented into spaghetti pasta, rotini pasta, penne pasta, fettuccine pasta, and others. Based on style type, market is segmented into short style pasts, long style pasta and filled style pasta. Based on product type, market is segmented into dried pasts, canned/preserved pasta, chilled/fresh pasta and others. Dried pasta segment dominates the market owing to its longer shelf-life affordable price, and convenience offered during cooking as well as storing. Based on functionality, market is segmented into vegan, gluten-free, and organic. Based on raw material, market is segmented into barley, wheat, durum wheat semolina, mix, maize, rice and others. Based on distribution channel, market is segmented into discounters, supermarkets, independent small groceries, hypermarkets, online stores and others. Supermarket is expected to exhibit higher growth rate as they provide ample shelf space and an extensive range of products from different bands during the forecast period. The segment also provides convenience to customers in terms of selecting a product from a single place. In addition, based on application, market is segmented into restaurant, residential, airplane & train and others.
The pasta market is driven by rise in preference for easy-to-prepare diet, followed by high nutritional value of the products along with its low sodium content and massive intake of vermicelli, noodles, macaroni, fusilli, and spaghetti and change in tastes of the customers. However, growth in popularity of low-carbohydrate diets may impact the market. Moreover, hectic lifestyles & western influences is a key opportunity for market.
Based on geography, the European region holds major share in pasta market, followed by North-American region owing to high intake of the product in various countries in the region. The Asian-Pacific region is likely to exhibit higher growth rate due to rise in consumption of processed & convenience food products in growing economies and growth in demand for ready to eat food products over the forecast period. The global market is estimated to grow at a CAGR of approximately 1.9% over the next five years, will reach US $1089.1 million in 2024, from US $1011.4 million in 2019.
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Ankur Gupta, Head Marketing & Communications