The global pasta & couscous market is projected to reach around US$ 44.0 billion by the end of 2027, in terms of revenue, growing at CAGR of 3.8% during the forecast period (2019-2027).
Market Trends
The rising focus of manufacturers to expand their product portfolio and geographical expansion by entering into a new market is expected to foster the market growth of pasta & couscous. For instance, in October 2016, in order to expand its business in the market in Brazil, Kellogg Co. purchased Brazil’s Parati Group for around US$ 430 million. This acquisition is Kellogg’s largest in Latin America and will enable it to expand its presence in emerging markets such as Brazil.
Various manufacturers are focusing on expanding its production facility in order to cater to rising demand for pasta and couscous products is expected to augment the market growth. For instance, in February 2016, Valley Fine Foods announced plans to expand production capacity on the East Coast in order to support retail growth and cater to increasing demand for its food products in the domestic market. As a part of the move, the company has built out and add two new production lines for fresh pasta and sauces.
Pasta And Couscous Market Report Snapshots
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