Golden times lie ahead for the food and beverage packaging industry, in Europe as well as North America. Smithers Pira expects packaged food and drink consumption in Europe will grow 3 percent annually to 953 billion packages by 2020. Along similar lines, the market research firm projects volume consumption in North America to reach 551.32 million tonnes by 2022. With the rising demand, however, come increased expectations.
Self-heating food packaging is about to get hot!
Interestingly, Smithers Pira also notes that, even though North America is the largest market for food packaging, the demand is increasing more rapidly in Mexico. This is due to Mexico’s food retail industry having lagged behind up to now. As we speak, more and more Mexican consumers are starting to do their shopping at modern outlets similar to those found in the US.
As the demand for packaged food rises, the food packaging industry finds itself faced with brand owners whose expectations are higher than ever. They want their packaging to be light weight and made with a minimum of materials, but most of all they want it to be ecofriendly. Wasteful and unrecyclable packaging materials such as Styrofoam are shunned, while green alternatives including paperboard and bioplastics are trending. Industry experts believe it is only a matter of time before brand owners start to demand packaging materials that not just offer ecofriendly properties, but have also been sustainably sourced.
Inspired by Smithers Pira and Packaging Strategies
Food packaging is ‘ready’ for success
The key drivers behind this interesting development? Time-pressed consumers and their increasing need for convenience. Ready meals and takeaway services have proven wildly popular in recent years, as consumers would rather spend their precious time doing other things than making freshly cooked meals from scratch. Indeed, the rising demand for food packaging is reflected in a decreased demand for fresh products.Self-heating food packaging is about to get hot!
Interestingly, Smithers Pira also notes that, even though North America is the largest market for food packaging, the demand is increasing more rapidly in Mexico. This is due to Mexico’s food retail industry having lagged behind up to now. As we speak, more and more Mexican consumers are starting to do their shopping at modern outlets similar to those found in the US.
Rising demand, increased expectations
As the demand for packaged food rises, the food packaging industry finds itself faced with brand owners whose expectations are higher than ever. They want their packaging to be light weight and made with a minimum of materials, but most of all they want it to be ecofriendly. Wasteful and unrecyclable packaging materials such as Styrofoam are shunned, while green alternatives including paperboard and bioplastics are trending. Industry experts believe it is only a matter of time before brand owners start to demand packaging materials that not just offer ecofriendly properties, but have also been sustainably sourced.
Inspired by Smithers Pira and Packaging Strategies