Packaged food market size to reach USD 4.11 Trillion by 2028 – Market Report
As per the market research report, the packaged food market size is predicted to reach about USD 4.11 trillion by 2028, at a 4.52% CAGR from 2021- 2028.
Work from home gained momentum amid lockdown, which further resulted in the demand for packaged food. The increase in popularity of packaged food is escalating due to consumer inclination towards convenience food products as they are easy to procure and make.
With evolving lifestyle and inclination towards healthy product, packaged food plays a critical role in outlining the consumers' food selections in recent times. In addition, increasing middle class, rising income, and elevated migration rates from rural to urban areas have directed the entry of international retailers into developing economies.