Market Share of Packaged Food Industry
Global packaged food is highly fragmented, with major players operating in the market, including Nestle SA., the Coca-Cola Company, PepsiCo Inc., and General Mills, among others. The major players in the market have been indulging in strategies like product innovation, mergers, acquisitions, partnerships, and geographical expansions, which have leveraged them to gain an esteemed position in the market. Owing to the changing taste and preferences of consumers, there has been considerable development of products by various global and regional players.
Moreover, owing to the increasing demand for fruit-flavored and dairy-free products, primarily in North American and European countries with increased lactose intolerance consumers, the major players are expanding their product portfolio with new products to satisfy market needs.
For instance, Coca-Cola expanded its footprint in dairy-free smoothies in the United Kingdom under its brand AdeZ. AdeZ is its first-ever range of plant-based drinks in Britain. They are made with seeds such as almonds, rice, and oats, which are increasingly popular in the UK, with the emerging category growing by 10 percent.
Packaged Food Market Leaders
Nestle SA
PepsiCo, Inc.
The Coca-Cola Company
General Mills Inc.
Mondelez International
*Disclaimer: Major Players sorted in no particular order
