The U.S. packaged food market is expected to reach USD 1,197.8 billion by 2025, according to a new report by Grand View Research, Inc. Globally rising consumption of convenience food products has been a key factor boosting the market growth. In addition, growing disposable income, coupled with busy work schedules are some other driving forces for the packaged food industry.
The rise in the population of working professionals and their busier lifestyles has led to the growing need to cater the changing consumption patterns of masses. This has propelled the sales of packaged and canned food items not only in the developed countries but also in the developing nations such as India.
The upsurge in the number of supermarkets, malls, and one-stop grocery stores coming up is also one of the major factors contributing the sales of frozen and convenience food items. These frozen products are easy to cook, which makes the consumers spend more time with their family.
Canned products are sealed in airtight containers with some chemical or heat treatment process, thus being a beneficial method for preserving food such as meat, vegetables, fruit, fish, fruit salad, sauces, and meat & vegetable condensed soup, etc.
To request a sample copy or view summary of this report:
https://www.grandviewresearch.com/industry-analysis/us-packaged-food-market
Further key findings from the report suggest:
- The U.S. generated a revenue of USD 735.5 billion in 2016 and is expected to grow at a CAGR of 4.5% from 2017 to 2025
- Beverages emerged as the largest product segment in 2016 and is estimated to generate revenue over USD 509.1 billion by 2025
- R.T.E meals is anticipated to witness the highest growth rate of 5.3% over the next few years, thus reaching a value of USD 113.9 billion by 2025
- The growing number of food products such cereals, beverages, dairy products and snacks being exported coupled with the diversified consumer base spread across regions has given impetus to the use of packaging for food preservation
- The U.S. accounted for a major market share of more than 73% during 2016, and is likely to maintain it throughout the forecast period
- Major players include Coca-Cola Co., Nestlé S.A., The Kellogg Company, Conagra Foods Inc., General Mills Inc., etc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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