U.S. Packaged Food Market Size, Share & Trends Analysis Report By Product (Bakery & Confectionary Products, Snacks & Nutritional Bars, Beverages, Sauces, Dressings, & Condiments), By Distribution Channel, And Segment Forecasts, 2022 - 2030

Market Segmentation

• U.S. Packaged Food Product Outlook (Revenue, USD Billion, 2017 - 2030)
  • Bakery & Confectionary Products
  • Dairy Products
  • Snacks & Nutritional Bars
  • Beverages
  • Sauces, Dressings, & Condiments
  • Ready-to-Eat Meals
  • Breakfast Cereals
  • Processed Meats
  • Rice, Pasta, & Noodles
  • Ice Creams & Frozen Novelties
  • Others
• U.S. Packaged Food Distribution Channel Outlook (Revenue, USD Billion, 2017 - 2030)
  • Supermarkets & Hypermarkets
  • Convenience Store
  • Online
  • Others

U.S. Packaged Food Market Dynamics

Driver: Growing Inclination Toward Convenience

The rising demand for high-quality, organic ingredients and unique tastes in food products is likely to drive the market for packaged food products over the forecast period. Nowadays, individuals are willing to spend more money on convenient food options as they lack the time or energy to cook. For instance, convenient and nutritious food products in the form of breakfast cereals, ready-to-eat meals, processed meat, as well as snacks & nutritional bars are easily accepted by consumers owing to their fast lifestyles. Over the past few years, the consumption of ultra-processed foods like frozen pizza, soda, fast food, sweets, salty snacks, canned soup, breakfast cereals, chicken nuggets, sweetened beverages, and carbonated soft drinks has increased substantially in the U.S. The increasing consumption of convenient foods is further complemented by the growing popularity of the on-the-go concept when it comes to eating.

This trend is particularly strong among millennials. Nowadays, young consumers are willing to spend more money on convenient food options as they lack the time to cook from scratch throughout the day. Furthermore, convenient & portable packaging makes life easier for time-starved, active, and nutrition-conscious consumers and makes quick meals & snacks easy and accessible. Freshness and all-natural ingredients in flexible containers that are suitable for on-the-go lifestyles are also making an impact on the industry. The rising demand for high-quality, organic, gluten-free, and vegan bakery items could provide further opportunities in this market.

Driver: Rising Demand for Ready-To-Eat Meals

The growing consumer inclination toward ready-to-eat (RTE), owing to busier lifestyles and hectic work schedules, is driving the demand for packaged food products across the U.S. The increasing working population, especially working women, is also anticipated to drive the market. Furthermore, the presence of a large number of prominent players in the U.S. packaged food market has been making a significant contribution to the growth of the market. According to the data published by Industrial Media, LLC in May 2020, the COVID-19 pandemic drastically impacted consumers’ eating habits. 72% of consumers lessened the frequency of their grocery shopping during the pandemic. 88% of consumers were cooking more meals at home since stay-at-home orders went into effect. Moreover, 49% were cooking meals from scratch, 46% adding into mix pre-cooked and packaged foods, and 5% sticking mostly to pre-cooked and packaged options.

In an age where take-out, even from fast food restaurants, has diminished, frozen meals from pizzas to more substantial heat and serve entrees, prepared meals and ready-to-cook dishes from the supermarket, and canned goods such as soups and chili have become go-to items. These factors indicate the growing influence of ready meals on consumers’ lifestyles.

Restraint: Health Concerns Associated with Consumption Of Packaged Foods

Obesity and other health-related concerns may reduce the demand for some packaged food products, primarily packaged non-alcoholic beverages and canned carbonated drinks. According to the figures published by Trust for America's Health, the U.S. adult obesity rate stood at 42.4% in 2020, which is the highest ever recorded since 2008 and evidence of the country’s obesity crisis. COVID-19-related food insecurity puts more Americans at risk for obesity or worsening obesity. The graph below indicates the growing prevalence of obesity rates among U.S. adults.

As per Filippa Juul, assistant professor and postdoctoral fellow at NYU School of Public Health, the overall composition of the average U.S. diet has shifted toward a more packaged/processed diet. Consuming ultra-processed foods has a higher risk of several chronic diseases. There is growing concern among consumers, public health professionals, and government agencies about the health problems associated with obesity, which can hinder the consumption of packaged food & beverages. In addition, owing to the increasing public concern about the consumption of sugar-sweetened beverages, several governments are introducing increased taxes on sugar-sweetened beverages to reduce consumption or to raise revenue.

What Does This Report Include?

This section will provide insights into the contents included in this U.S. packaged food market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

U.S. packaged food market qualitative analysis

• Industry overview

• Industry trends

• Market drivers and restraints

• Market size

• Growth prospects

• Porter’s analysis

• PESTEL analysis

• Key market opportunities prioritized

• Competitive landscape

  • Company overview

  • Financial performance

  • Product benchmarking

  • Latest strategic developments

U.S. packaged food market quantitative analysis

• Market size, estimates, and forecast from 2017 to 2030

• Market estimates and forecast for product segments up to 2030

• Regional market size and forecast for product segments up to 2030

• Market estimates and forecast for application segments up to 2030

• Regional market size and forecast for application segments up to 2030

• Company financial performance