Emerging markets drive growth in food industry

A NEW report tracking the US food industry shows a growth of 2.9 percent CAGR through 2022. The 2016 Food Packaging Trends and Advances report from PMMI, The Association for Packaging and Processing Technologies, is based on interviews with 70 industry professionals in the US and overseas. Its says that consumers value innovations that boost convenience, flexibility, safety, sustainability and technology.

The report notes that meat and related products as well as snack foods are segments outpacing the market with 3 percent growth, as portion control and convenience remain important to consumers.

The US food industry trails the global market. North America is the largest global market across all food segments, the overall growth of the food industry, which includes food packaging, is being driven by emerging markets like Argentina, Brazil, China and India.

Global growth rates for most segments are double US growth rates, except for meat and related products (8.5 percent), and candy and confections (8 percent), which have higher rates of global growth compared to those of the US.

Single-serve packaging for fresh vegetables remain popular

New packaging breakthroughs

According to the report, U.S. food packaging innovations are often concepts that have been applied in other segments, while new packaging from other countries are entering the US food packaging market. One packaging breakthrough for meat products has a film that opens during cooking to allow the meat to brown after a pre-determined period of time.

• Snack Foods: Recycled and biodegradable materials for salty snacks; stylish, vivid graphics and shapes for single-serve packs

• Meat and Related Products: New films to keep meat fresher longer; active labels to sense when meat is past its expiration

• Fruits and Vegetables: Clear, tactile films to make consumers pause and consider the product; more single-serve packaging

• Pet Food: More recycled materials in packaging; single-serve containers to differentiate niche or premium products

To learn more, an infographic illustrating key findings is now available on packexpointernational.com or visitPMMI.org/research to download the Executive Summary or full Food Packaging Trends and Advances report ($500 for non-members).