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Organic pasta mkt poised to reach $1,100 mn due to health consciousness
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Monday, 21 October, 2019, 15 : 00 PM [IST]
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The global organic pasta market is expected to reach approximately $ 400 million by the end of 2019 in terms of value, and is forecasted to reach $1,100 million by the end of 2029. These were the findings of Persistence Market Research’s recent study, which projected that health-conscious consumers, with a preference for chemical-free goods, right from their source and production process to final products, wo;; be primary growers of the market.
According to the report, increasing consumption of organic food products will continue to contribute to the growth of the organic pasta market through 2029.
Millennial consumers main driving force for organic pasta market
Millennials are found to have a high awareness regarding the health benefits of organic pasta. Increasing spending on nutritional food products by the millennial is positively impacting the organic pasta market.
The organic benefits are flattering the millennial and they do not hesitate to pay the high price for the organic pasta.
In the developed regions, including North America and Europe, pasta is considered as regular food products to consume.
The energetic millennial population in these regions follows the trend of exploring and trying new food products.
Growing awareness of the health benefits associated with organic pasta, especially among the millennial demographic, will remain instrumental for the market growth in the future.
Furthermore, the other trends followed by the millennial such as the non-genetically modified organism (non-GMO), clean label, vegan, and others are likely to support the consumption of the organic pasta.
Innovation remains key to gain competitive edge
Innovation strategies adopted by food and beverage manufacturers are likely to create lucrative opportunities for stakeholders in the organic pasta market.
In addition, these stakeholders are focusing on new product development to attract a larger segment of customers, which is expected to propel the growth of the organic pasta market, as the consumers are keen to try the different variants.
Moreover, the manufacturer’s prime target is to establish well-developed R&D (research and development) facilities for the development of innovative products with better ingredients.
• For instance, in 2019, a group of designers tried to develop innovative shapes of organic pasta and photographed them for the Milan Design Week. This was a combined effort by two leading pasta manufacturers, Trafile Turconi and Baradello
• Barilla Group has also developed a 3D printer along with Bühler, which generates innovative pasta shapes for sale in the retail market
• Sanrio Co, Ltd launched organic pasta under the Hello Kitty range to target kids. This was launched in August 2019 along with organic pasta sauce under the Hello Kitty range. The launch was in the US and the products are available through online retail channels and in Hello Kitty Cafés
The study also underlines groundbreaking insights into the competitive scenario of the global organic pasta market, along with the highlights of the differential strategies implemented by manufacturers.
Key players in the global organic pasta market continue to invest in growth strategies, which are likely to help them retain or increase their market share in the global organic pasta market.
According to the report, manufacturers are also focussing on acquisition strategies, which will help them increase their regional presence across the globe.
This study underlined key opportunities in the global organic pasta market and finds that the market would exhibit growth at a value CAGR of about 10 per cent during the forecast period.
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