Europe Packaged Food Market to Reach $ 892 Billion by 2022
Increasing household disposable income,
improving standard of living and growing acceptance among consumers to drive
Europe packaged food market through 2022
According to a TechSci
Research report, “Europe
Packaged Food Market By Product Type, By Packaging Type, By Point of Sale, Competition Forecast & Opportunities,
2012 – 2022”, the packaged food market in Europe is projected to cross $ 892 billion
by 2022.
A large base of the region’s population is getting increasingly
busier with lesser time to get involved in household activities or to indulge
in cooking, thus driving the packaged food market in Europe. Moreover, increase
in number of working women along with growing awareness regarding the benefits
of packaged food is positively influencing packaged food market in the region.
In addition, increasing tourist footfall in the region is
another major factor expected to propel demand for packaged food items in
Europe during 2017 – 2022.
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77 Figures spread through 160 Pages and an in-depth TOC on "Europe Packaged Food Market"
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Increasing
awareness regarding benefits of healthy lifestyle and expanding working
population are aiding Europe packaged food market. Furthermore, expanding urban
population and expanding working base are
some of the other factors expected to propel the demand for packaged food in
Europe over the next five years. According to the
Organisation for Economic Co-operation and Development (OECD), the European
Union’s household disposable income annual growth rate stood at 2.2% in 2015. With
anticipated improvement in household disposable income in the coming years, an
increasing number of consumers in Europe are expected to shifting towards
packaged food and this trend is expected to prevail through 2022.
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“In
Europe, the consumption and purchase patterns of consumers with respect to
packaged food has changed over the years owing to evolving lifestyles. They are
looking for highly nutritious foods, thereby healthy packaged foods are in huge
demand in Europe. To address this demand, various manufacturers are introducing
products that are available in air tight and eco-friendly packaging, which
helps in preservation of nutrients in the long run. Seven-layer packaging of
tetra packs is witnessing increasing adoption among manufacturers to ensure
nutritional retention and higher shelf life of their product offerings.”, said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Europe
Packaged Food Market By Product Type, By Packaging Type, By Point of Sale, Competition
Forecast & Opportunities, 2012 – 2022” has evaluated the future growth potential of Europe packaged
food market and provides statistics and information on market structure, size,
share and future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment evaluation.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities present in the Europe packaged food
market.
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