Asia Pacific was the largest region in the global cookie, cracker, pasta, and tortilla market, accounting for 45% of the market in 2019. Western Europe was the second largest region accounting for 26% of the global cookie, cracker, pasta, and tortilla market. Africa was the smallest region in the global cookie, cracker, pasta, and tortilla market.
Frozen food manufacturers are using technologies such as individual quick freezing (IQF) to improve yield and quality of frozen foods. The IQF method involves transferring the individual food items on a conveyor belt into a blast freezer that quickly freezes the items. With IQF method, every individual piece of food is frozen separately, as opposed to bulk or block freezing. This method boosts yield by 1.5-3% and results in better quality products with high nutritional value and less wastage. Examples of IQF foods include fruits such as blueberries, strawberries and peaches, and vegetables such as corn, peas and green beans. The global IQF vegetable market is expected to reach USD 2 billion by 2026, thus indicating significant demand for IQF food products in future.
The cookie, cracker, pasta, and tortilla products market consists of sales of cookie, cracker, pasta, and tortilla products by entities (organizations, sole traders and partnerships) that produce cookie, cracker, pasta, and tortilla products. The companies in the cookie, cracker, pasta, and tortilla products industry produce cookies and crackers, or prepare flour and dough mixes and dough from flour ground elsewhere or manufacturing dry pasta. The establishments in this industry may package the dry pasta they produce with other ingredients. The companies package and distribute their products through various distribution channels to both individual customers and commercial establishments.
The global cookie, cracker, pasta, and tortilla market is expected to grow from USD 267.1 billion in 2019 to USD 275.2 billion in 2020 at a compound annual growth rate (CAGR) of 3.1%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 8% from 2021 and reach USD 340.3 billion in 2023.
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Ankur Gupta, Head Marketing & Communications