Pasta & Couscous Market to reach around US$ 44.0 Billion by 2027- CMI

Pasta is an Italian food which is made from durum wheat, water or eggs and is formed into different noodle shapes and then cooked in boiling water. Pasta can also be made from common wheat and also from other grains such as rice and barley. Spaghetti, tortellini, ravioli, penne, fettuccine, orzo, and macaroni are some of the types of pasta. Couscous is versatile ingredients and can be used as a side-dish in many types of classic dishes. Couscous is basically a tiny pasta made up of wheat or barley, durum wheat is grounded, moisten and then tossed with fine wheat flour till it forms tiny, round balls. Couscous is very popular in North America as it can be cooked instantly. Moroccan couscous, Lebanese couscous, and Israeli couscous are three major types of Couscous available in the market.

The global pasta & couscous market is estimated to account for slightly less than US$ 31.5 billion in terms of value in the year 2018 and it predicted to grow at a CAGR of 3.8% during the forecast period (2019-2027)

Drivers

Rising demand for healthy and multifunctional tasty food due to health-conscious people especially in Europe and North America is expected to propel the market growth of pasta & couscous. Pasta and couscous are considered as one of the most healthy and convenient food and are also gaining popularity around the globe. Moreover, an increasing number of working women and a younger population with a busy lifestyles across developing region such as the Asia Pacific and the Middle East is further expected to fuel the market growth over the forecast timeframe.

Market Opportunities

Many manufacturers are focusing on creating their brand image by conducting various promotional activities in order to promote the product portfolio is expected to foster the market growth of pasta & couscous. For instance, in January 2017, Olive Garden has launched its latest all-you-can-eat offering. The restaurant chain known for its "never-ending" portions announced a new promotion where customers can pay as little as $11.99 to consume endless piles of food -- in one sitting. With the new deal, customers can consume infinite amounts of pasta, selecting from five entrees: spaghetti with meat sauce, fettuccine alfredo, lasagna classic, chicken alfredo and chicken parmigiana.

Market Restraints

Volatile prices of raw material are expected to hamper the market growth of pasta & couscous. Durum wheat as a raw material is highly preferred for pasta and couscous production and its production mainly relies on the quantity of rainfall each year. Hence, fluctuation in weather condition may impact the yield of durum wheat which ultimately affect the demand &supply, in turn, price of durum wheat. This factor is expected to hamper the market growth.

Key Takeaways:

On the basis of raw material, 100% durum wheat has dominated the global pasta & couscous market in 2018 with a 74.9% of market share in terms of value, followed by mix (durum and wheat) and 100% wheat.

Market Trends

The rising trend of ready-to-cook food products is encouraging manufacturers to launch quick and cooking options for pasta &couscous which is estimated to augment the market growth. For instance, in March 2015, Barilla launched innovative pasta, Pronto, which is an "easy-to-prepare" line of pasta that allows for easier and speedier preparation. These products need not be boiled and drained to prepare a meal, and simply need to be added to the specified quantity of water and cooked till completely absorbed.

Introduction of new, healthy, and flavored pasta & couscous for the health-conscious consumer by major players is a major trend that is fueling the market growth of pasta and couscous. For instance, in February 2016, Delverde, an Italian pasta maker, announced the launch of a new type of pasta containing 30% chickpeas and 20% flaxseed. This product is ideal for consumers who prefer natural products, and also those with a preference for varying tastes and flavors.

Competitive Section:

Key players operating in global pasta & couscous market are The Hain Celestial Group, Inc., Valeo Foods Group Limited, Pastificio Antonio Pallante S.R.L., Pasta Foods Ltd., US Durum Products Ltd., Regina Pasta & Food Industries, Nestle S.A., Ebro Foods S.A, Weikfield Foods Pvt. Ltd., and ITC Foods Limited.

Few Recent Developments

Pastificio Antonio Pallante S.R.L.

In March 2016, the company launched its new range of pasta products, which is made from whole wheat and marketed under the brand name, Nutri Bio integrate. The launch was in line with the company’s plan to expand its pasta product portfolio.

US Durum Products Ltd.

In December 2015, US Durum Products Ltd started manufacturing organic toasted pearl couscous in the U.S., with an annual capacity of 20 Mn pounds in order to increase its production capacity of couscous
In January 2016, the company established a new packaging facility in Lancaster, U.S. in order to cater to customer needs for couscous for application in the retail and foodservice

Market Taxonomy

By Product Form