Conagra Brands Inc CAG

Packaged Food Market Report and Outlook 2023-2028

[ivosmith]

According to the latest research report, the global packaged food market size reached US$ 2,259 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,690 Billion by 2028, exhibiting a growth rate (CAGR) of 8.05 % during 2023-2028.

The market is currently being driven by the continuous growth of e-commerce and the online shopping sector. Additionally, the ongoing change in consumer preferences towards convenience, coupled with the ability to browse and select from a variety of food products from the comfort of their homes, is contributing to the market's augmentation. Alongside this, the increasing number of working professionals seeking ready-to-eat (RTE) meals or families in search of quick meal solutions through various products on online platforms that offer a one-stop-shop experience for diverse consumer needs is propelling the market's growth.

Furthermore, the easy availability of customer reviews and ratings on online platforms is currently empowering consumers with information and insights that influence their purchasing decisions. This shift toward greater transparency is also motivating food manufacturers to prioritize product quality and consistency to maintain positive online reputations, thereby contributing to the ongoing growth of the market.

Explore full report with Table of Contents: https://www.imarcgroup.com/packaged-food-market