U.S. Packaged Food Market Size, Share & Trends Report

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

  • Report ID: GVR-2-68038-362-1
  • Number of Pages: 80
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the U.S. packaged food market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for U.S. packaged food market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of U.S. packaged food market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

U.S. Packaged Food Market Categorization:

The U.S. packaged food market was categorized into two segments, namely product (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), distribution channel (Supermarkets & Hypermarkets, Convenience Store, Online).

Segment Market Methodology:

The U.S. packaged food market was segmented into product, distribution channel. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The U.S. packaged food market was analyzed at a regional level.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

U.S. packaged food market companies & financials:

The U.S. packaged food market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Nestlé: The company manufactures, distributes, supplies, and markets foods and drinks. The company’s product portfolio includes baby food, medical food, bottled water, breakfast cereals, coffee and tea, confectionery, dairy products, ice cream, frozen food, pet foods, and snacks. The major brands under which the company operates are Nespresso, Nescafé, Kit Kat, Smarties, Nesquik, Stouffer’s, Vittel, and Maggi. These products are sold in over 189 countries, including Africa, Egypt, Iran, Jordan, Hong Kong, and China. The company offers a wide range of frozen foods, including sandwiches, pizzas, frozen meals, meat products, pie doughs, and cake and cookie mixes. The brand offers these products under brands like Hot Pockets, Stouffer’s, Jack’s, Tombstone, Herta, Buitoni, DiGiorno, and Lean Cuisine.

  • The Coca-Cola Company: Coca-Cola was established in 1886 and is headquartered in Georgia, U.S. The Coca-Cola Company markets manufactures, and sells beverage concentrates and syrups as well as finished beverages (including sparkling soft drinks; nutrition, juice, dairy & plant; hydration, sports, tea & coffee; and emerging categories). The company sells its beverage products through more than 200 brands across the world. Some of the leading brands are AdeS, Aquarius, Ciel, Coca-Cola, Dasani, Costa Coffee, Diet Coke, Fanta, Fresca, fuzetea, and Georgia. The company operates through more than 50 subsidiaries across the world that look into operations such as bottling, canning, and distribution. The company operates through geographical segments that include Europe, the Middle East & Africa, Latin America, North America, and Asia Pacific.

  • PepsiCo: Established in 1965, PepsiCo is headquartered in New York, U.S. The company is a leading manufacturer of food and beverages. The company operates broadly through its seven divisions: PepsiCo Beverages North America; Frito-Lay North America; Quaker Foods North America; Latin America; Europe; Africa, Middle East, and South Asia; and the Asia Pacific, Australia/New Zealand, and Greater China. PepsiCo manufactures a range of products categorized into Beverages, Food, and Everyday Nutrition. The company offers its products through leading brands like Pure Leaf, Bubly, Quaker Oats, KeVita Inc., Lays, Doritos, and Lipton. PepsiCo offers a range of complementary beverages and convenience foods under the portfolio of brands like Lays, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker, and SodaStream.

  • Tyson Foods, Inc.: The company was founded in 1935 and is headquartered in Arkansas, U.S. The company is one of the largest processors and marketers of chicken, beef, and pork. Tyson Foods is also a major exporter of beef in the U.S. It offers its products categorized into Beef; Pork; Chicken; Prepared Foods; and International/Others, whereas it markets its products under brands like Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells, ibp, and State Fair. Tyson Foods is also a leading protein provider to many national restaurant chains that include quickservice restaurants, and casual, midscale, and fine dining restaurants. The company also provides frozen foods to multiple businesses and organizations including schools, military bases, hospitals, nursing homes, and international customer services.

  • Mars, Incorporated: The company was founded in 1911 and is headquartered in Virginia, U.S. The company is a leading manufacturer of confectionery, pet food, and other packaged food products. The company offers its pet products through an umbrella of brands such as PEDIGREE, Waltham Center for Pet Nutrition, WHISKAS, ROYAL CANIN, AniCura, WISDOM PANEL, and VCA. Mars offers a range of confectionery products like M&M’s, SNICKERS, ORBIT, and SKITTLES. Mars Food offers a range of food products under the brand names Ben’s Original, Dolmio, and Seeds of Change. It has 51 manufacturing facilities situated in 28 countries and offers its range of products to more than 170 countries worldwide, including Japan, India, Canada, France, Belgium, and China.

  • Cargill, Incorporated: Cargill's major businesses are trading, purchasing, and distributing grain and other agricultural commodities such as palm oil; trading in energy, steel, and transport; raising livestock and production of feed; and producing food ingredients such as starch, glucose syrup, vegetable oils, and fats for application in processed foods and industrial use. The company has wholly-owned operations in more than 70 countries in the regions of Asia, the Middle East, Europe, North America, and others.

  • The Kraft Heinz Company: The company is one of the largest producers and processors of food and beverages. The company offers a wide range of products such as condiments & sauces, cheese & dairy, meals, meats, refreshment beverages, coffee, infant & nutrition products, and numerous grocery products under more than 200 brands. Some of its leading brands are Kraft, Heinz, Oscar Mayer, Ore-Ida, Velveeta, Jell-O, and Golden Circle. The company operates through its geographical segments—Europe, the Middle East & Africa, Latin America, North America, and Asia Pacific. The company’s widespread channels aid in the distribution of products to customers located across 40 major countries such as Australia, Belgium, Brazil, Canada, China, Costa Rica, and Egypt.

  • General Mills, Inc.: The American food manufacturer produces branded products sold through retail stores. The company is also known by the name ‘Big G’ and markets some of the most famous brands, including Annie’s Homegrown, Yoplait, Colombo, Totino’s, Pillsbury, and Old El Paso. It also has a different segment for the frozen bakery market, which includes the brands Betty Crocker and Mott’s. The company’s products are sold in North America, Latin America, Europe, the Middle East, Asia, and Australia. The U.S. accounts for about 75% of the total company sales. The company functions with subsidiary companies such as Cascadian Farm; Yoplait; EPIC Provisions LLC; and Humm Foods, Inc. It has 45 facilities across the U.S., China, and Canada.

  • Conagra Brands, Inc.: The company functions under three domains—Frozen, Snacks, and Staples. Its brands include Birds Eye, Marie Callender’s, Banquet, Healthy Choice, Slim Jim, Reddi-Wip, and Vlasic. Also, emerging brands Angie’s BOOMCHICKAPOP, Duke’s, Earth Balance, Gardein, and Frontera are part of the company. Conagra Foodservice offers products to restaurants, retailers, commercial customers, and other food service suppliers. The company has wholly-owned operations in more than 50 countries, including Canada and Mexico.

  • Kellogg Co.: The company produces and supplies cereals as well as convenience foods. It markets products under brand names such as Corn Flakes, Frosted Flakes, Pringles, Eggo, and Cheez-It. Kellogg’s also has a segment of frozen snacks, which includes the brands Eggo and Kashi. The company functions with subsidiary companies Keebler Company, MorningStar Farms, Kashi, and Insurgent Brands, LLC, among others. Together they manufacture products in 18 countries, which are then sold in more than 160 countries, including the UK, Australia, and Canada.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

U.S. Packaged Food Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2021, historic information from 2017 to 2020, and forecast from 2022 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

U.S. Packaged Food Market Report Assumptions:

  • The report provides market value for the base year 2021 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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