Allied Analytics LLP
Innovations in agricultural technology such as precision farming and advanced irrigation systems are projected to drive the growth of the global staple food market during the forecast period. The Asia-Pacific region is projected to experience significant growth by 2032.
WILMINGTON, Del., May 21, 2024 (Globe Newswire) — Allied Market Research recently published a report titled “Standard Foods Market Size, Share, Competitive Environment and Trends Analysis Report by Product Type, Nature and Distribution Channel.” We have published a report titled: Global opportunity analysis and industry forecasts from 2023 to 2032. According to the report, the global staple foods market is expected to generate $1.7 trillion in 2022, $3.2 trillion by 2032, and grow at a CAGR of 7.2% from 2023 to 2032.
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Key determinants of growth
Rising demand for sustainably sourced organic staple foods, innovations in agricultural technology, and government supportive policies such as subsidies and agricultural incentives are driving the growth of the global staple foods market over the forecast period 2023-2032 This is an expected factor. However, strict food safety standards and adverse weather conditions may limit future market growth. On the contrary, the rise of e-commerce and increasing popularity of plant-based diets are expected to provide lucrative opportunities to expand the staple food market during the forecast period.
Report scope and details:
Report scope
detail
Forecast period
2023-2032
base year
2022
Market size in 2022
$1.7 trillion
Market size in 2032
$3.2 trillion
CAGR
7.2%
Number of pages in the report
340
Target segment
Product type, nature, distribution channel, and region
driver
Agricultural technology innovation
Increasing demand for sustainably sourced, organic staple foods
Government support policies
opportunity
restraints
Strict government regulations
Product Type: Serial Subsegment Expected to Significant Growth by 2032
The cereals sub-segment accounted for the largest share of 22.0% in the global staple foods market in 2022 and is expected to witness significant growth during the forecast period. The growing trend among consumers for healthier options is driving demand for whole grains such as oats, quinoa, and brown rice, accelerating trends in the cereals market. Advances in agricultural technology increase production efficiency and sustainability, impacting grain availability and cost.
story continues
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Nature: Traditional sub-segments will become the most dominant during the forecast period
The traditional sub-segment is expected to hold the leading share, accounting for the largest share of 69.2% in the global staple food market in 2022, and is expected to rise at the highest CAGR of 7.4% during the forecast period. The demand and production of traditional staple foods is primarily driven by a complex interplay of social, economic, and cultural factors. These foods are deeply rooted in cultural practices and serve as staple foods and symbols of identity in various regions. Wheat-based products such as rice, essential to many Asian cultures, and bread in the Western diet exemplify how traditional habits and cultural identity underpin the demand for these basic food items.
Distribution channels: wholesaler subsegment will grow significantly by 2032
Wholesaler distributor sub-segment held the largest market share of 28.2% in 2022 and is projected to continue to maintain the dominant market share till 2032. Enhancing supply chain efficiency, reducing costs, and meeting consumer demand are three critical drivers for the wholesale distributor subsegment. segment. These distributors act as important intermediaries, optimizing logistics, transportation, and inventory management to efficiently meet market demands. Strengthening relationships with retailers and end-users through exceptional customer service, consistent product quality and punctual delivery remains essential to sustained success in this dynamic market.
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Region: Asia-Pacific market will be most prominent during the forecast period
The Asia-Pacific staple foods market held the largest share of 32.2% in 2022 and is projected to continue to maintain its dominance and grow at the highest CAGR of 8.2% during the forecast period. Rapid population growth, urbanization, and income growth are the three major drivers shaping the market growth. As cities expand and populations rapidly increase, the demand for essential goods increases. Urban consumers with different food preferences drive changes in market dynamics, and rising incomes encourage dietary diversification, but staple foods continue to play a pivotal role in traditional diets even amid economic growth. is maintained.
Key players in the staple foods market:
Danone
nestle
pepsico
JBS SA
cargill
Mondelez
AB InBev
coca cola
Diageo PLC
ADM company
This report provides an in-depth analysis of key players in the global Staple Foods market. These companies engage in various initiatives such as launching new products, forming alliances, expanding their business, forming joint ventures, and entering into agreements with the aim of increasing their market share and ensuring competitiveness in different regions. strategy is adopted. The report helps to introduce the competitive scenario by highlighting business performance, business segments, product portfolio, and strategic moves of market players.
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Allied Market Research (AMR) is the full-service market research and business consulting division of Allied Analytics LLP, based in Wilmington, Delaware. Allied Market Research provides unparalleled quality of Market Research Reports and Business Intelligence Solutions to global corporations and small businesses. AMR has a focused perspective in providing business insights and consulting to help clients make strategic business decisions and achieve sustainable growth in their respective market areas. Masu.
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