REPORT OBJECTIVES
The report Packaged Food : Global Market Intelligence ( 2023-2030 ) provides market intelligence on the different market segments, based on Product, Distribution Channel, Region, Company etc. Market size and forecast (2020-2030) has been provided in the report. The primary objectives of this report are to provide 1) comprehensive global market intelligence through detailed segmentation, 2) market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends, 3) detailed analysis of current dynamics and trends, key market players, and strategies in the market, 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants, 5) provide emerging opportunities in the market and the future impact of major drivers and restraints of the market and, 6) support decision makers in making cost-effective business decisions.

RESEARCH METHODOLOGY
In our market size and forecast determination efforts, an extensive secondary research was initially completed to gain a good perspective of the market in each region. Extensive primary research was also carried out by interviewing the key executives from the industry. These interviews helped us to fill-in the data gaps after secondary research. Several secondary sources such as encyclopedia, directories, and databases have been used to identify and collect information useful for this extensive techno-commercial study. The respondents – selected experts from manufacturers and selected suppliers – have been interviewed to obtain and verify critical information as well as to assess the future prospects. The usage of obtained information is based on the perceived reliability by the research team. In many cases, a combination of several sources was used. Sprout Intelligence provides an in-depth analysis of the market segmentation, which is a critical element of the market intelligence reports at Sprout Intelligence.

KEY AUDIENCE
Executives in marketing, strategic planning and new product development will find such discussions in our reports pertinent and useful. Management consultants, investment bankers, manufacturers, distributors, suppliers, and regulatory authorities are amongst our regular clientele served.

DATA SOURCES
The general data sources used in this report are company websites, trade association publications, regulatory authorities, journals, magazines, news websites, press releases, media publications, interaction with industry experts, company executives, research papers, articles, patents, scientific literature, among many others.

KEY FINDINGS FROM THE REPORT
• The Packaged Food Market market was valued at $2,200.0 Million in 2020, and is projected to reach $2,824.1 Million by 2030 growing at a CAGR of 2.92% from 2021 to 2030.
• Beverages segment is expected to be the highest contributor to this market, with $520.6 Million in 2020, and is anticipated to reach $669.0 Million by 2030, registering a CAGR of 2.93%.
• Ready-to-Eat Meals segment is anticipated to reach $133.0 Million by 2030 with the highest CAGR of 3.44%.
• Beverages and Bakery & Confectionery Products segments collectively expected to account for about 43.9% share of the Packaged Food Market market in 2020, with the former constituting around 23.7% share.
• Ready-to-Eat Meals and Snacks & Nutritional Bars segments are expected to witness significant growth rates at a CAGR of 3.44% and 3.15% respectively, during the forecast period.
• Presently, share of these two segments is estimated to be around 9.8% in the overall Packaged Food Market market in 2020, and is anticipated to reach 10.1% by 2030.
• The global packaged food market is being propelled by a surge in consumer demand for convenient and time-saving food solutions, driven by hectic lifestyles and urbanization.
• This trend is fostering significant opportunities for food manufacturers to innovate and introduce products that align with changing consumer preferences for on-the-go and ready-to-eat options.
• Furthermore, the increasing awareness of health and wellness is steering the market towards the development of nutritious and functional packaged food items, creating avenues for companies to capitalize on the growing health-conscious consumer base.
• In essence, the evolving consumer landscape, characterized by a need for convenience and health-centric choices, is steering the packaged food market towards sustained growth, presenting businesses with the chance to thrive through strategic product development and marketing initiatives..