Research & Markets recently unveiled a report showing the global pasta market has topped $13 billion after growing at a compounded annual growth rate of 4.8 percent since 2011. According to the firm, the growth stems from a number of consumer trends, including:
- Hectic lifestyles have led consumers to shift towards easy-to-make food products like pasta.
- In addition to convenience, pasta is also considered a healthier food alternative, particularly vermicelli, fusilli and macaroni.
- Supermarkets continue to be the most popular retail outlet.
- Europe represents nearly half of the global market.
Although low-carbohydrate diets could pose a threat to the market growth, its value is expected to reach nearly $16 billion by 2024.