“Global Staple Food Market to reach a market value of USD 2.6 Trillion by 2031 growing at a CAGR of 7%”
The Global Staple Food Market size is expected to reach $2.6 trillion by 2031, rising at a market growth of 7.0% CAGR during the forecast period.
Retail stores stock staple foods, including grains, cereals, pulses, oils, sugar, fruits, vegetables, and dairy products. This variety allows consumers to choose from different brands, packaging sizes, and price points, meeting individual household requirements and culinary preferences. Consequently, the Retail stores segment would acquire nearly 21% of the total market share by 2031. Retail stores frequently offer promotional discounts, bulk purchasing options, loyalty programs, and seasonal sales on essential foods.
As the global population grows, so does the demand for essential foods such as grains, cereals, vegetables, and fruits. Furthermore, urbanization fosters the development of robust retail and distribution networks, including supermarkets, grocery stores, and food markets. Thus, population growth and rising urbanization are propelling the market's growth. Additionally, Increasing consumer awareness and concerns about health and wellness drive the demand for organic and non-GMO essential foods. Stringent regulations and certification standards for organic and non-GMO products assure consumers about product quality and authenticity. In conclusion, rising demand for organic and non-GMO staples propels the market's growth.
However, Climate change increases the frequency and intensity of extreme weather events such as droughts, floods, hurricanes, and heatwaves. Furthermore, rising global temperatures alter growing seasons and affect crop development. Heat stress during critical growth stages reduces crop yields and diminishes the nutritional quality of essential foods, impacting food security and human health. Hence, climate change and environmental impact are hampering the market's growth.
By distribution channel, the market is segmented into wholesale distributors, online retailers, direct-to-consumer (D2C), retail stores, and others. The direct-to-consumer (D2C) segment procured a 25% revenue share in the market in 2023. D2C models offer convenience by allowing consumers to purchase essential foods directly from producers or manufacturers through online platforms, farm stands, subscription services, or farmers’ markets.
Based on product type, the market is divided into cereals, sugar, roots & tuber, fruit, vegetables, oil, and others. The vegetables segment attained 20% revenue share in the market in 2023. Vegetables are recognized for their high nutritional value, providing essential vitamins, minerals, fiber, and phytochemicals necessary for maintaining health and preventing diseases. Increasing awareness of the health benefits of vegetable consumption drives higher demand among health-conscious consumers.
On the basis of nature, the market is segmented into organic and conventional. In 2023, the organic segment attained 32.7% revenue share in the market. Growing consumer awareness and concerns about health and environmental sustainability drive demand for organic staple foods. Organic farming practices prioritize natural inputs, avoiding synthetic pesticides, herbicides, and genetically modified organisms (GMOs).
Free Valuable Insights: Global Staple Food Market size to reach USD 2.6 Trillion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region witnessed 36% revenue share in the market in 2023. The Asia-Pacific region is home to a significant portion of the world’s population, including densely populated countries such as China, India, Indonesia, and Pakistan. The population's sheer size and growth rate drive substantial demand for staple foods to meet basic nutritional needs and dietary requirements
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 1.5 Trillion |
| Market size forecast in 2031 | USD 2.6 Trillion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 7% from 2024 to 2031 |
| Number of Pages | 284 |
| Number of Tables | 399 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Nature, Product Type, Distribution Channel, Region |
| Country scope |
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| Companies Included | Cargill, Incorporated, Danone S.A., JBS S.A., Archer Daniels Midland Company, The Kraft Heinz Company, Kellogg Company, General Mills, Inc., Unilever PLC and Arla Foods amba |
By Nature
By Product Type
By Distribution Channel
By Geography
This Market size is expected to reach $2.6 trillion by 2031.
Population growth and rising urbanization are driving the Market in coming years, however, Climate change and environmental impact restraints the growth of the Market.
Cargill, Incorporated, Danone S.A., JBS S.A., Archer Daniels Midland Company, The Kraft Heinz Company, Kellogg Company, General Mills, Inc., Unilever PLC and Arla Foods amba
The expected CAGR of this Market is 7.0% from 2024 to 2031.
The Cereals segment led the Market by Product Type in 2023; thereby, achieving a market value of $499.8 billion by 2031.
The Asia Pacific region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $960 billion by 2031.
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