Packaged Foods Surged Considerably In 2020
Supply and demand is always a factor driving M&A transactions. The COVID-19 pandemic helped certain types of businesses, and those sectors are now targeted acquisitions for smart investors.
The sales of packaged foods surged considerably in 2020 in the U.S. due to the COVID-19 pandemic and lockdown. The retail sales of the products grew with a double-digit growth rate from March to May in 2020.
The U.S. packaged food market size was valued at USD 996.56 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.1% from 2021 to 2028. Given that the world population is expected to grow to 9 billion by 2050, the packaged food industry will continue to grow.