The Asia-Pacific region has witnessed a transformational development in the packaged food industry over the years. In countries such as India and China, the concept of packaged or convenience food has evolved in the recent years, owing to changing lifestyles, increase in number of working professionals and the growing inclination towards fast food. Consumers these days, prefer ready to consume foods as these require considerable less time for cooking and come in a variety of options. Further, packaging preserves the nourishment in the food and provides it a longer shelf life. However, the aspects like contamination of food, strict government regulations and the presence of local brands act as key growth restrictors of this market.
The segmentation of the Asia-Pacific packaged food market is done on the basis of product type and country. Depending on type of product, the market segments included in the report are breakfast cereals, baked goods, ready meals, potato chips, baby food, pasta, instant noodles, nuts, biscuits, cheese, chocolate confectionery, ice-creams, yogurt and non-alcoholic drinks. Currently, Asia-Pacific packaged food market is led by non-alcoholic drinks, followed by baked goods product category. From a perspective of growth, among all the categories of food, the baby food products would gain the highest CAGR. Moreover, the demands of baby food would be concentrated to developing countries such as India and China. The key factors that propel the market growth in India and China are the constantly increasing birth rate in India and massive population in China.
In the Asia-Pacific packaged food market, China was the highest revenue generating country in 2014, followed by Japan and India. China possesses the highest market share for baby foods and non-alcoholic drinks, thus occupying the Asia-Pacific region with a large market share. However, in India, the demand for packaged food would witness an upsurge during the forecast period proportionally with the increasing working population combined with influence of the western culture. Key players that are operating in packaged food market in Asia-Pacific are Nestle S.A, Kraft Foods Group, General Mills, ConAgra Foods Inc., Tyson Foods, Kelloggs Company, Smithfield Foods Inc., Hormel Foods Corporation, Maple Leaf Foods Inc. and ITC Limited.
PACKAGED FOOD MARKET SEGMENTATION
The Asia-Pacific packaged food market is segmented on the basis of product type and country.
MARKET BY PRODUCT TYPE
MARKET BY COUNTRY
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