USD 1030.9 billion
U.S. Packaged Food Market Size, Share, Growth Analysis, By Type(Bakery Products and Dairy Products), By Distribution Channel(Offline Market and Online Market) - Industry Forecast 2024-2031
Report ID:
SQMIG30I2214 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|
Tables:
59 |
Figures:
75
U.S. Packaged Food Market Insights
U.S. Packaged Food Market size was valued at USD 1030.9 billion in 2022 and is poised to grow from USD 1080.38 billion in 2023 to USD 1572.06 billion by 2031, growing at a CAGR of 4.8% in the forecast period (2024-2031).
The market has been driven by consumers' busy schedules and preference for convenience, along with the increasing popularity of e-commerce in the United States. The growth of the industry has also been fueled by innovations in food packaging, plant-based products, bold flavors, and healthy ingredients. As the vegan population in the country grows, there is a rising demand for plant-based products, which presents an opportunity for industry players like Danone S.A, Nestlé, and Unilever to enter the market. Additionally, companies such as Impossible Foods Inc. and Beyond Meat have accelerated the growth of the plant-based industry with their groundbreaking innovations. Health and environment-conscious consumers who are less price sensitive have driven the demand for organic, natural, clean, and whole-food products in recent years. The organic product segment is becoming a mainstream food category due to the growing trend in the food and beverage industry. Consumers also seek more transparency in the sourcing and supply chain of products, prompting industry players to become more transparent by providing additional information on product labels. The preference for healthy foods made with natural ingredients, low-calorie, low-fat, and free from artificial color, GMO, and sugar is driving the growth of the packaged food industry in the United States. Sales of packaged food products such as rice, pasta, noodles, snacks, and canned food have been driven by their extended shelf lives, which allows consumers to stockpile these items. Moreover, product innovation, the launch of new product flavors from private label brands, and a shift from generic products to premium options such as gluten-free and organic choices are driving the consumption of packaged food in the country.
U.S. Packaged Food Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Bakery Products
Fastest Growth
Bakery Products
Growth Rate
4.8% CAGR
U.S. Packaged Food Market 2021-2030 ($ Bn)
Country Share for U.S. Region- 2021 (%)
U.S. Packaged Food Market Size By Type 2021-2030 ($ Bn)
U.S. Packaged Food Market Size By Type 2021-2030 (%)
To get more reports on the above market click here to Buy The Report
U.S. Packaged Food Market Segmental Analysis
The U.S. Packaged Food market is segmented by type, distribution channel, and region. Based on type, the market can be segmented into bakery products, and dairy products. Based on distribution channel, the market is segmented into offline market, and online market.
U.S. Packaged Food Market Analysis by Type
By type, the market can be segmented into bakery products and dairy products. Bakery products are the dominant region of the market which include bread, cakes, pastries, biscuits, and other baked goods. This segment is dominated by bread products, which account for the largest share of the U.S. bakery market. The demand for bread is driven by its convenience, affordability, and versatility as a food item. However, the fastest growing bakery products segment is gluten-free baked goods, which are gaining popularity among consumers with gluten sensitivities or celiac disease. The market for gluten-free baked goods is expected to continue growing due to increasing health concerns and awareness among consumers.
Dairy products are the fastest growing segment in the market which include milk, cheese, yogurt, butter, and other products made from milk. This segment is dominated by milk products, which account for the largest share of the U.S. dairy market. The demand for milk products is driven by their nutritional value and versatility as a food ingredient. However, the fastest growing dairy products segment is plant-based dairy alternatives, which are gaining popularity among consumers who are lactose intolerant, vegan, or have ethical concerns about animal-based products. The market for plant-based dairy alternatives is expected to continue growing due to increasing health and environmental concerns among consumers.
U.S. Packaged Food Market Analysis by Distribution Channel
By distribution channel, the market can be segmented into offline market and online market. Offline retail is a dominant segment in the market which includes supermarkets, hypermarkets, convenience stores, and other traditional retail formats. This segment is dominated by supermarkets, which account for the largest share of the U.S. packaged food market. The demand for supermarkets is driven by their wide variety of products, competitive pricing, and convenient locations. However, the fastest growing offline retail segment is convenience stores, which are gaining popularity among consumers who prioritize convenience and accessibility. The market for convenience stores is expected to continue growing due to increasing urbanization and busy lifestyles among consumers.
Online market is a fastest growing segment in the market which includes e-commerce platforms such as Amazon, Walmart, and other online grocery delivery services. This segment is dominated by online marketplaces, which account for the largest share of the U.S. online packaged food market. The demand for online marketplaces is driven by their convenience, wider selection of products, and ability to reach a larger consumer base. However, the fastest growing online retail segment is online grocery delivery services, which are gaining popularity among consumers who prioritize convenience and time-saving. The market for online grocery delivery services is expected to continue growing due to increasing demand for home delivery and ease of online shopping.
U.S. Packaged Food Market Size By Type, 2021 (%), 2023 (%)
To get detailed analysis on other segments, Request For Free Sample Report
U.S. Packaged Food Market Regional Insights
Northeast region dominated the global market. This region includes states such as New York, Pennsylvania, and Massachusetts. The population in this area tends to have a diverse culinary landscape, with a mix of urban and rural areas. Packed food options often cater to a wide range of preferences, including convenience meals, ready-to-eat snacks, and specialty foods..
Midwest region is expected to grow at the fastest CAGR. States like Illinois, Ohio, and Michigan fall within the Midwest region. The food preferences in this area are influenced by agricultural traditions, with a focus on farm-fresh and locally sourced ingredients. Packed food options often include preserved fruits and vegetables, canned soups, and meat products.
U.S. Packaged Food Market By Geography, 2021-2030, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
U.S. Packaged Food Market Dynamics
U.S. Packaged Food Market Drivers
Increasing demand for healthier and more convenient food options
- The increasing demand for healthier and more convenient food options is a major driver of growth in the US packaged food market. Consumers are increasingly looking for natural and organic products that are free from additives and preservatives, as well as snacks and frozen foods that are quick and easy to prepare. This trend has prompted industry players to invest in product innovation and launch new, healthier options to meet the changing consumer preferences. As a result, the natural and organic products, snacks, and frozen foods segments are expected to be the fastest-growing segments in the market.
U.S. Packaged Food Market Restraints
Growing awareness among consumers about the negative health effects
- One major restraint facing the U.S. packaged food market is the growing awareness among consumers about the negative health effects of consuming processed and packaged foods. As a result, consumers are becoming more health-conscious and are opting for fresher, whole-food options over packaged and processed products. This shift in consumer preferences has the potential to impact the growth of the packaged food market and prompt industry players to invest in new product development that caters to the growing demand for healthier and more natural options.
Request Free Customization of this report to help us to meet your business objectives.
U.S. Packaged Food Market Competitive Landscape
The U.S. packaged food market is characterized by a large number of regional and local players. These companies typically operate in niche segments and offer a wide range of products that cater to the diverse tastes and preferences of consumers in the region. Many of these players focus on product differentiation and quality to compete with larger industry players. Additionally, the market is highly fragmented, with several players competing for market share, which can lead to intense price competition and pressure on profit margins.
U.S. Packaged Food Market Top Player’s Company Profiles
- Nestle USA Inc.
- The Kraft Heinz Co.
- Mars Inc.
- PepsiCo Inc.
- The Hershey Co.
- Mondelez International Inc.
- The J.M. Smucker Co.
- Tyson Foods Inc.
- Hormel Foods Corp.
- Campbell Soup Co.
- Dean Foods Co.
- TreeHouse Foods Inc.
- JBS USA Holdings Inc.
- B&G Foods Inc.
- Post Holdings Inc.
- Lamb Weston Holdings Inc.
- McCormick & Co. Inc.
U.S. Packaged Food Market Recent Developments
- In March 2023, Beyond Meat announced a partnership with KFC to launch plant-based chicken nuggets in select markets.
- In January 2023, Kraft Heinz announced a $250 million investment to build a new production facility for plant-based meat alternatives.
- In October 2022, Nestle announced a partnership with Starbucks to launch a line of plant-based creamers for coffee.
- In August 2022, General Mills partnered with plant-based protein company Beyond Meat to launch a line of meatless breakfast patties and links.
- In June 2022, Tyson Foods announced a $300 million investment to build a new plant-based protein facility in Indiana.
U.S. Packaged Food Key Market Trends
- One key market trend in the U.S. packaged food market is the increasing adoption of sustainable packaging solutions. With growing consumer awareness about the environmental impact of packaging waste, companies are under pressure to adopt eco-friendly packaging options such as biodegradable materials and reusable containers. This trend is driving innovation in packaging technology, with industry players exploring new, sustainable packaging options that are also cost-effective. Additionally, companies are also investing in sustainable sourcing practices and reducing their carbon footprint to appeal to environmentally conscious consumers.
U.S. Packaged Food Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our U.S. packaged food market analysis, the market is a rapidly evolving industry that is driven by changing consumer preferences and growing demand for healthier and more convenient food options. The market is highly competitive and is characterized by a large number of regional and local players. Natural and organic products, snacks, and frozen foods are expected to be the fastest-growing segments in the market. However, the market faces challenges due to increasing consumer awareness about the negative health effects of consuming processed and packaged foods. The trend towards sustainability is also driving innovation in packaging technology and eco-friendly sourcing practices, creating opportunities for companies that can meet these changing consumer demands.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1030.9 billion |
| Market size value in 2031 | USD 1572.06 billion |
| Growth Rate | 4.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on U.S. Packaged Food Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on U.S. Packaged Food Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the U.S. Packaged Food Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the U.S. Packaged Food Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the U.S. Packaged Food Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the U.S. Packaged Food Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
U.S. Packaged Food Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
