Key regions: India, South Korea, United Kingdom, United States, Spain
The Pasta market in the G20 region has shown minimal growth due to various factors such as increasing health consciousness among consumers and the convenience of online services. Despite this, the Bread & Cereal Products Market within The Food market continues to experience significant growth driven by the adoption of digital technologies.
Customer preferences: With the rising trend of health consciousness and increasing awareness about food allergies and dietary restrictions, there is a growing demand for gluten-free and plant-based options in the Pasta Market. This shift is being driven by cultural preferences and evolving lifestyle factors, as consumers prioritize healthier and more sustainable food choices. Additionally, the growing popularity of vegan and vegetarian diets is also contributing to the growth of the Pasta Market within the Bread & Cereal Products Market in The Food market industry.
Trends in the market: In the G20, the Pasta Market of the Bread & Cereal Products Market within The Food market is experiencing a shift towards healthier options, with a focus on plant-based and gluten-free alternatives. This trend is driven by increasing health consciousness among consumers and a growing demand for sustainable and ethical food choices. Industry stakeholders are adapting by introducing innovative products and marketing campaigns that cater to this trend. However, there is also a concern for potential inflation in prices and the need for more sustainable sourcing practices, which could have implications for the profitability and competitiveness of companies in the market.
Local special circumstances: In Italy, the Pasta market is deeply rooted in the country's cultural and culinary traditions. The demand for high-quality, authentic pasta products is driven by the country's strong pasta consumption culture. Additionally, the favorable climate and fertile land provide an ideal environment for growing the wheat used in pasta production. Furthermore, strict regulations and certifications, such as the PGI (Protected Geographical Indication) label, ensure the quality and authenticity of Italian pasta, making it a desirable and unique market for pasta producers.
Underlying macroeconomic factors: The Pasta Market of the Bread & Cereal Products Market within The Food market is significantly impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. Countries with stable and growing economies, supportive fiscal policies, and strong investments in the food industry are experiencing a higher demand for pasta products. On the other hand, countries with economic instability and limited investments in The Food market are witnessing slower market growth. Additionally, changing consumer preferences and increasing health consciousness are also influencing the demand for healthier and innovative pasta options.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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