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

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.