- The global packaged foods market is estimated to grow at an annual rate of 4.5% between 2015 and 2020 to reach $3.03 trillion by 2020, according to a report from Allied Market Research.
- North America is currently the largest processed foods market, and the region is expected to continue generating the most revenue during that time.
- The report predicted that baby food, yogurt, and nuts will be the fastest-growing packaged food segments. The yogurt segment's growth is expected to be driven by yogurt drinks.
While it seems like news story after news story has said that the processed foods market has taken a hit due to the consumer trend toward what they deem to be healthier options, it appears companies are investing in acquisition and partnership strategies to better boost business.
Consumers still love the convenience offered by packaged foods, which often require less preparation than making all foods fresh from scratch. But consumers will want to know the foods they eat are devoid of the artificial ingredients more traditionally seen in processed foods. As more major processed foods companies create or retool products without those ingredients, consumers will be more likely to stick with the foods segment.