Organic pasta market set to grow with millennial consumers as driving force
Persistence Market Research (PMR) has published a report on the organic pasta market, which includes the global industry analysis 2014-2018 and opportunity assessment 2019-2029, and projected that the global organic pasta market is expected to reach approximately US$400 million by the end of 2019 in terms of value, and is forecasted to reach around $1,100 million by the end of 2029.
According to the report, increasing consumption of organic food products will continue to contribute to the growth of the organic pasta market through 2029. The demand for organic pasta likely to be primarily driven by the growing consumer preference for chemical-free goods, right from their source and production process to final products.
Millennial consumers are the main driving force for the organic pasta market
Millennials are found to have a high awareness regarding the health benefits of organic pasta. Increasing spending on nutritional food products by the millennial is positively impacting the organic pasta market. The organic benefits are flattering the millennial and they do not hesitate to pay the high price for the organic pasta. In the developed regions including North America and Europe, pasta is considered as regular food to consume. The energetic millennial population in these regions follows the trend of exploring and trying new food products. Growing awareness of the health benefits associated with organic pasta, especially among the millennial demographic, will remain instrumental for the market growth in the future. Furthermore, the other trends followed by the millennial such as the non-GMO, clean label, vegan, and others are likely to support the consumption of the organic pasta.
Innovation remains key to gain competitive edge
Innovation strategies adopted by food and beverage manufacturers are likely to create “lucrative” opportunities for stakeholders in the organic pasta market. In addition, these stakeholders are focusing on new product development to attract a larger segment of customers, which is expected to propel the growth of the organic pasta market, as the consumers are keen to try the different variants. Moreover, the manufacturer’s prime target is to establish well-developed R&D facilities for the development of innovative products with better ingredients.
For instance, in 2019, a group of designers tried to develop innovative shapes of organic pasta and photographed them for the Milan Design Week. This was a combined effort by two pasta manufacturers, Trafile Turconi and Baradello. Barilla Group has also developed a 3D printer along with Bühler, which produces innovative pasta shapes for sale in the retail market. For Sanrio, the Japanese company has introduced organic pasta under the Hello Kitty range to target children. This was launched in August 2019 alongside organic pasta sauce under the Hello Kitty range. The launch was in the US and the products are available through online retail channels and in Hello Kitty cafés.