Emergency Food Market to Reach $6.14 Bn, Globally, by 2025 at 2.1% CAGR, Says Allied Market Research
Rise in government initiatives and policies on food supply, surge in consumer preferences for natural food products, and strategic collaboration with organized NGOs are expected to propel the growth of the global emergency food market.
PORTLAND, Oregon, April 17, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Emergency Food market by Product (Ready to Eat Meals, Protein or fruit bars, dry cereal or granola, peanut butter, dried fruit, canned juice, non-perishable pasteurized milk, and infant food): Global Opportunity Analysis and Industry Forecast, 2018–2025". According to the report, the global emergency food market was pegged at $5.17 billion in 2017 and is projected to reach $6.14 billion by 2025, registering a CAGR of 2.1% from 2018 to 2025.
Increase in demand for emergency food products from the army sector, uncertain climatic conditions in North America and Asia-Pacific regions, and rise in government initiatives and policies on food supply have boosted the growth of the global emergency food market. However, the unpredictability in the demand-supply side of the market and lower efficiency in distribution channel hamper the market growth. On the contrary, upsurge in consumer preferences for natural food products, strategic collaborations with organized NGOs, and surge in a number of the millennial population are expected to create lucrative opportunities in the near future.
Non-perishable pasteurized milk segment dominates the market
The non-perishable pasteurized milk segment held the largest share in 2017, contributing about one-fifth of the total market, as it has longer shelf life than any other emergency food products and high demand from the commercial and retail sector. However, the dry cereal or granola segment is projected to manifest the fastest CAGR of 2.5% during the forecast period, owing to higher preference for cereal as a breakfast food to gain more protein. Other segments analyzed in the research include ready to eat meal, protein or fruit bars, dry cereal or granola, peanut butter, dried fruit, and canned juices.
Asia-Pacific region to portray fastest growth through 2025
The market in Asia-Pacific region is expected to register the fastest CAGR of 3.6% during the study period, owing to busy lifestyle, growing number of millennial population, and high demand for ready to consume beverage and non-alcoholic drinks. However, the market in the North America region held the largest share in 2017, contributing more than two-fifths of the total market, owing to wide range of prices as well as the strategical marketing activities carried out by the market players. The other segments such as Europe and Latin America, Middle East and Africa (LAMEA) are also analyzed in the report.
The report includes in-depth analysis of the major market players in the market, including Kraft Foods Group, Inc., Nestle S.A., Kelloggs, General Mills, Inc., Pepsico, Conagra Brands, Inc., Del Monte Foods, Inc, CHB, The Coca-Cola Company, and Princes Limited.
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