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The global pasta market is majorly being driven by its rising popularity throughout the world. The pasta industry is one of the leading industries in North America and Europe. The major driving factors for the demand of pasta in the regions comprise of technical developments in the manufacturing process as well as quality developments. Europe, comprising Italy, is a major market area because pasta is unique to their culture, leading to the highest per capita intake of pasta. The demand for convenience foods, particularly in China, Japan, and India, is projected to propel the pasta market in the Asia Pacific region because of the increasing revenue, rapid urbanisation, and increased popularity of the product.
The rising demand for organic, gluten-free, and vegan variants of pasta is expected to drive the market growth in the coming years. In February 2020, Barilla Holding, one of the key players in the industry, shifted to plant-based ingredients instead of egg whites in its pasta production. This will significantly impact their sales and would help them garner more consumers, along with impacting the overall market positively.
Moreover, the market for dry pasta is witnessing a tremendous boost ever since the outbreak of coronavirus or COVID-19 throughout the globe. The pandemic has led to lockdowns, which has led to consumers buying higher quantities of food, including pasta, which is being highly demanded by the consumers due to its convenience of cooking. Grocery stores and hyperstores like Walmart Inc (NYSE: WMT), as well as online platforms like Amazon (NASDAQ: AMZN), sold a huge quantity of pasta, owing to the increased demand in the past few months. This development has impacted the market positively.
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The major players in the global pasta market are Barilla G. and R. Fratelli SpA, Nestle SA, F.lli De Cecco di Filippo SpA (De Cecco), Makfa JSC, Durum Gida Sanayi Ve Ticaret A.S, and General Mills, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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