U.S. Packaged Food Market Share Analysis Report, 2022-2030
The U.S. Packaged Food market size was valued at US$ 998.86 billion in 2021 and is expected to hit US$ 1,380.00 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.9% from 2022 to 2030.
Growth Factors:
The hectic work and life schedules of consumers across the country and the rising preference for convenience have been driving the market over the years. Furthermore, the escalating expansion of e-commerce in the U.S. boosts the sales of the products over the nation. In addition, increasing innovations in food packaging, plant-based products, bold flavors, and healthy ingredients are expected to contribute to the growth of the U.S. market over the next few years. The rising demand for plant-based products due to the growing vegan population in the country has widened the growth opportunities for industry players.
Many industry players including Danone S.A, Nestlé, and Unilever have entered the plant-based market to seize the opportunity. Furthermore, the groundbreaking innovations of vegan companies such as Impossible Foods Inc. and Beyond Meat have accelerated the industry's growth. As per the United States Department of Health and Human Services, as of 2020, around 30 million adults in the U.S. are lactose intolerant. As a result, plant-based dairy alternatives have gained significant traction among the nation's lactose intolerant consumers.
Over the past few years, demand for organic, natural, clean, and whole-food products is surging among the health and environment-conscious consumers who are less price sensitive. With the growing organic trend in the food and beverage industry, the organic product segment is becoming a mainstream food category. In addition, consumers seek more transparency in the sourcing and supply chain of the products they are purchasing. Therefore, the industry players are becoming more transparent by providing detailed information about the product on the labels. Furthermore, the rising favor for healthy foods made with natural ingredients, low-calorie, low-fat, and free from artificial color, GMO, and sugar fuels the growth of the packaged food industry in the country.
The sales of the packaged foods surged considerably in 2020 in the U.S. due to the COVID-19 pandemic and lockdown. The retail sales of the products grew with a double-digit growth rate from March to May in 2020. The consumer expenditure on food grew significantly during the pandemic compared to before the pandemic owing to the social distancing practices and quarantine measures. Consumers have stockpiled snacks, ready-to-eat, and ready-to-cook products during the initial months of the pandemic. This emergence of panic shopping has dramatically fueled the demand for packaged foods in the U.S.
Report Scope of the U.S. Packaged Food Market
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Report Coverage |
Details |
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Market Size in 2021 |
USD 998.86 Billion |
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Revenue Projection By 2030 |
USD 1,380.00 Billion |
|
Growth Rate |
CAGR of 5.9% from 2022 to 2030 |
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Base Year |
2021 |
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Historical data |
2017 - 2020 |
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Forecast Period |
2022 to 2030 |
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Segments Covered |
Product, distribution channel |
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Companies Mentioned |
Nestlé S.A.; The Coca-Cola Company; PepsiCo; Tyson Foods, Inc.; Mars, Incorporated; Cargill, Incorporated; The Kraft Heinz Company; General Mills Inc.; Conagra Brands, Inc.; Kellogg Co. |
Distribution Channel Insights
Supermarkets and hypermarkets accounted for the largest share of more than 66.4% in 2021. The Kroger Co.; Albertsons Companies, Inc.; ALDI; Walmart; Wegmans Food Markets; Ahold Delhaize; and Publix Super Markets are the key supermarket chains of the U.S. for packaged foods. Supermarkets and hypermarkets are the primary distribution channel for household food shopping in the country. However, during the initial weeks of the COVID-19 pandemic, weekly trips to these retail stores increased significantly as consumers ate at home.
The online distribution channel is expected to register the fastest CAGR of 9.1% from 2022 to 2030. Over the past few years, online shopping has been gaining popularity among young consumers. However, in 2020, the adoption of this distribution channel jumped steadily across the nation due to the COVID-19 pandemic. This new shopping behavior is expected to grow significantly in post-pandemic years. Convenience and time saving are the key factors fueling the growth of this segment.
Product Insights
The beverages segment accounted for the largest share of more than 21.4% in 2021. This segment includes a wide range of nonalcoholic packaged beverages. Carbonated soft drinks, fruit beverages, and bottled water accounted for the major share in the beverages segment. Beverages with exotic flavors and essential nutrients are gaining traction among consumers in the U.S. In addition, the increasing demand for functional drinks and sports drinks among the health-conscious consumers and athletes in the country has been driving the segment. Other than beverages, bakery and confectionery products, dairy products, and snacks and nutritional bars account for a significant revenue share in the market.
The ready-to-eat meals segment is expected to register the fastest CAGR of 6.7% from 2022 to 2030. Consumers in the nation increasingly prefer ready meals. The changing lifestyle has been boosting the demand for ready-to-eat meals that save the consumers' time and efforts. Prepared or ready meals are an extremely convenient alternative for dual-earning households and students across the country. Furthermore, consumers are willing to pay a premium price for higher-quality convenient foods. Ready-to-eat stew, soup, sandwiches, burgers, and salads are gaining traction among consumers in the U.S., especially among the millennials.
Key Companies & Market Share Insights
The U.S. market for packaged food is characterized by a few well-established players and several small and medium players. As of 2020, large companies such as Nestlé S.A., The Coca-Cola Company; PepsiCo; Tyson Foods, Inc.; Mars, Incorporated; and Cargill, Incorporated holds the majority share of the U.S. market. However, over the past few years, private label brands are growing over the nation. Large retail chains including Costco, Whole Foods Market, and Wegmans Food Markets are increasingly offering their private label food brands. The improving quality, better packaging, and lower cost are the key factors boosting private label food products' sales in the U.S. Some prominent players in the U.S. packaged food market include: -
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at U.S. for the period of 2017 to 2030
Key Points Covered in U.S. Packaged Food Market Study:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Nova one advisor’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Product Outlook
2.3. Application Outlook
2.4. Country Outlook
Chapter 3. U.S. Packaged Food Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis - Porter’s
3.5.1.1. Supplier Power
3.5.1.2. Buyer Power
3.5.1.3. Substitution Threat
3.5.1.4. Threat from New Entrant
3.5.1.5. Competitive Rivalry
3.6. Roadmap of U.S. Packaged Food Market
3.7. Market Entry Strategies
3.8. Impact of COVID-19
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
Chapter 5. U.S. Packaged Food Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2021 & 2030
5.2. Bakery & Confectionery Products
5.2.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
5.3. Dairy Products
5.3.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
5.4. Snacks & Nutritional Bars
5.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
5.5. Beverages
5.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
5.6. Sauces, Dressings, & Condiments
5.6.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
5.7. Ready-to-Eat Meals
5.7.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
5.8. Breakfast Cereals
5.8.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
5.9. Processed Meats
5.9.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
5.10. Rice, Pasta, & Noodles
5.10.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
5.11. Ice Creams & Frozen Novelties
5.11.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
5.12. Others
5.12.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
Chapter 6. U.S. Packaged Food Market: Distribution Channel Estimates & Trend Analysis
6.1. Distribution Channel Movement Analysis & Market Share, 2021 & 2030
6.2. Supermarkets & Hypermarkets
6.2.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
6.3. Convenience Store
6.3.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
6.4. Online
6.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
6.5. Others
6.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
Chapter 7. Competitive Analysis
7.1. Key players, recent developments & their impact on the industry
7.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
7.3. Vendor Landscape
7.3.1. Key company market share analysis, 2021
Chapter 8. Company Profiles
8.1. Nestlé S.A.
8.1.1. Company Overview
8.1.2. Financial Performance
8.1.3. Product Benchmarking
8.1.4. Strategic Initiatives
8.2. The Coca-Cola Company
8.2.1. Company Overview
8.2.2. Financial Performance
8.2.3. Product Benchmarking
8.2.4. Strategic Initiatives
8.3. PepsiCo.
8.3.1. Company Overview
8.3.2. Financial Performance
8.3.3. Product Benchmarking
8.3.4. Strategic Initiatives
8.4. Tyson Foods, Inc.
8.4.1. Company Overview
8.4.2. Financial Performance
8.4.3. Product Benchmarking
8.4.4. Strategic Initiatives
8.5. Mars, Incorporated
8.5.1. Company Overview
8.5.2. Financial Performance
8.5.3. Product Benchmarking
8.5.4. Strategic Initiatives
8.6. Cargill, Incorporated
8.6.1. Company Overview
8.6.2. Financial Performance
8.6.3. Product Benchmarking
8.6.4. Strategic Initiatives
8.7. The Kraft Heinz Company
8.7.1. Company Overview
8.7.2. Financial Performance
8.7.3. Product Benchmarking
8.7.4. Strategic Initiatives
8.8. General Mills Inc.
8.8.1. Company Overview
8.8.2. Financial Performance
8.8.3. Product Benchmarking
8.8.4. Strategic Initiatives
8.9. Conagra Brands, Inc.
8.9.1. Company Overview
8.9.2. Financial Performance
8.9.3. Product Benchmarking
8.9.4. Strategic Initiatives
8.10. Kellogg Co.
8.10.1. Company Overview
8.10.2. Financial Performance
8.10.3. Product Benchmarking
8.10.4. Strategic Initiatives
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers