Packaged food items have grown in popularity over the years, and continues to rise with the increasing health conscientiousness among people who are increasingly choosing the healthier option in food and beverage intake. A further contribution to this increase is the ever-changing eating habits and busy lifestyles, leading to a significant growth in packaged food products.
Furthermore, rising consumer awareness of the health benefits associated with the nutritious and organic components used in packaged food items is also propelling the growth of the market. The global packaged food market is competitive with worldwide brands and a small market share of indigenous enterprises. This is where Asmech Systems comes in to help keep you competitive in your market.
We have the perfect conveyor, whatever your process, with our range including systems for products such as packaged food, frozen food items, sachets, plastic and glass bottles and glass jars, as well as cans.
The market of packaged food
The Global Packaged Food Market was valued USD 2976.41 Billion in 2020 and is forecast to grow at CAGR of 6.27% in value terms, to reach over USD 4261.36 billion by 2026.
The Global Packaged Food Market is witnessing consistent growth, owing to the improving standards of living of people, increasing consumption of healthy food, and changing consumer tastes and preferences.
For example, consumers are becoming more aware of the importance of consuming gluten-free, low carbohydrate, high-fibre baked goods, and the demand now is for novel product options. With this in mind packaged food companies are being encouraged to fortify their goods in order to accommodate the increased demand for health-conscious consumers. Products that include plant-based ingredients are becoming best sellers.
How is it bought?
Channels through which consumers are purchasing food are diversifying. Data from IGD research shows that online grocery market shopping will increase its market share from 18.6 to 23.4 % by 2024. However, large grocery stores will still account for half of the market (50.1%) in 2024. Forms of home delivery other than supermarket delivery include HelloFresh.
Key companies are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
Are you considering expanding into new products, we would love to discuss your project with you, we aim to work with our clients from pre-conception through to completion and beyond. Talk to a member of our knowledgeable sales team on 01623 424 442 or email us at email@example.com, and we will schedule a call with you.