Processed Food Market

Processed Food Market - Global Industry Insights,
Trends, Outlook, and Opportunity Analysis,
2018-2026
Food which is altered using freezing, baking, and drying is called processed food.
United States Department of Agriculture (USDA) defines processed food as any raw
agricultural products that has been subjected to cleaning, washing, milling, chopping,
cutting, heating, blanching, pasteurizing, cooking, freezing, canning, drying, mixing,
packaging, dehydrating or other procedures that modify the food from its natural
state. Such process may include the additional ingredients such as flavors, nutrients,
preservatives. These products are having a demand in the global market due to its
advantages such as easy cooking or immediate consumption, easy handling,
preservation, and storage. Changing lifestyle, safety, and convenience are the major
driving factors for the global processed food market. Excellent marketing strategies
for such products also play an important role. Innovative packaging is used by
processed food industry which in turn increases the demand for the global packaging
industry.
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The major challenge for the global processed food industry is the health awareness,
food contamination, and government regulations. The health problems associated
with preservatives and other additives is a major concern. However, the major
players are coming up with innovative ideas such as fortification of various nutrients
in the processed food to overcome this problem.
Baked goods, baby foods, breakfast cereals, chips, nuts, sweet snacks, candy, pet
food, ready to eat meals, cheese yoghurt, salad dressing, instant products are few
examples of processed food which are gaining popularity in the market.
Global Processed Food Market Outlook
North America is the largest market for processed food due to increased snacking
trend. Furthermore, busy lifestyle, packaging innovation and expanded lifestyle plays
a major role in increasing demand of processed food.
Europe has high demand for high quality and nutritious food. The strict government
regulations is the major challenge in this market. The basic food hygiene and food
law requirements are in Regulation (EC) No 178/2002 and in Regulation (EC) No
825/2004 which plays a dominant role in European processed food industry.
Processed food market is fast growing in Asia pacific region due to increase in
population and increase in consumer buying power. The consumer spending in India
on processed food is expected to grow to US$ 3.6 trillion by 2020. Cost
competitiveness along with availability of raw materials are the growth drivers for the
processed food industry in India and China.
In Latin America, urbanization and modernization is creating a demand for
processed food. However, regulations such as, special 8% tax on high calorie food in
Mexico from January 2014 will have a considerable effect on the processed food
market. Also, it will increase the demand for nutritious processed food in these
regions.
In Middle East, the limited agricultural production because of the nature of climate,
terrain and water scarcity has led to a significant increase in the processed food
market.
United Nations estimated that the population of Africa will be doubled by 2020 which
will be a market driver in this region. Low market penetration is the major restraint in
Africa.
Key players in the global processed food market
The companies are adopting various organic and inorganic growth strategies to
sustain their market positions such as partnership and mergers. For instance, in
2015, Krafts food and Hienz merged to expand their business. Also, Tyson food
collaborated with Godrej India in 2008. Some of the important players in the global
food industry market are Nestlé, General Mills, Kraft Food, Inc., ConAgra foods,
Inc., Tyson Foods, Kellogg’s, Frito-Lay, JBS Food, Smithfield Food, Inc. and Mars,
Inc.
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Processed Food Market report is segmented on the basis of process, products, and application - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-26

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