India Pasta Market to Reach US$ 821.9 Million by 2024 | CAGR 16.0% – IMARCGroup

Indian Pasta Market to Reach US$ 821.9 Million by 2024, Influenced by Globalization – IMARCGroup

According to the latest report by IMARC Group, titled “Indian Pasta Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the Indian pasta market size reached US$ 335.4 Million in 2018, exhibiting a CAGR of 17.1% during 2011-2018. Pasta is one of the traditional Italian staples that is usually prepared from a dough of wheat flour mixed with water, oil, eggs or vegetables. It can be extruded into sheets or various shapes and sizes with the help of machines or can also be given a particular form by hand. It is then boiled in hot water and further cooked or baked with sauces, vegetables or meat. It consists of a high concentration of iron, minerals and vitamins which may or may not be artificially added by manufacturers. Pasta is widely preferred by consumers across the globe since it serves as a convenient cooking option. Some of the commonly found types of pasta based on their shape include macaroni, penne, spaghetti, ravioli, lasagna, fettuccine, vermicelli, tortellini, linguine and bowtie.

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Indian Pasta Market Trends:

Globalization and increasing western influence have popularized Italian cuisines, amongst many others, in India which is primarily driving the growth of the market. In addition to this, hectic schedules, along with changing dietary preferences and inflating disposable income levels, has led to an increase in the demand for easy to cook and packaged food products in the country. Moreover, growing health consciousness among consumers has created a demand for healthy product variants which include pasta prepared from whole wheat, quinoa and gluten-free ingredients. Food service businesses are now offering a fusion of the Italian and Indian cuisines by preparing pasta with Indian spices so as to cater to a larger consumer base across the country. Furthermore, the proliferation of online retail stores is yet another factor driving the market growth. Attractive discounts, a wide variety of choices, and easy checkout gateways are some of the key benefits owing to which consumers are shifting toward online retailing systems. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 821.9 Million by 2024, expanding at a CAGR of 16.0% during 2019-2024.

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Market Summary:

• Based on the type, the market has been divided into dry pasta, instant pasta and fresh pasta. Amongst these, dry pasta is the most preferred segment.
• On the basis of the raw material, the market has been categorized into semolina, refined flour, durum wheat and others. At present, semolina exhibits a clear dominance in the market.
• Based on the distribution channel, institutional sales account for a majority of the total market share. Other segments include convenience stores, supermarkets/hypermarkets and e-retailing.
• On the basis of the cuisine, the market has been segregated into white, red and mix sauce pasta. Currently, white sauce pasta represents the most preferred segment.
• On the geographical front, the market has been classified into Uttar Pradesh, Delhi, Maharashtra, Gujarat, Karnataka, Tamil Nadu and others.
• The competitive landscape of the market has also been studied in the report with some of the key players being Nestlé India Limited, ITC Limited, Bambino Agro Industries Limited, MTR Foods Private Limited and Del Monte (FieldFresh Foods Private Limited).

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