Global Packaged Food Industry
The world packaged food industry turns to internal investment during an economic crisis, and the industry is expected to recover slowly, with external investment becoming increasingly prevalent. During the recession, the food industry sought to minimize damage through cost cutting and restructuring. As economic recovery is expected to be gradual, companies in the packaged food industry are likely to look to acquisitions to grow their businesses at a global level.
US Packaged Foods Regional Market Share
US demand for packaged food is expected to grow. Larger disposable income and growing demand for convenient packaged ready-to-eat food will continue to spur growth.
Flexible foodservice packaging is expected to grow at a faster rate than rigid packaging. Environmental concerns will fuel foodservice packaging market expansion as flexible foodservice packaging is less harmful to the environment than rigid packaging. Pouches will lead the flexible foodservice packaging segment, encroaching on the metal cans market.
The rigid foodservice packaging market is predicted to expand. Use of corrugated boxes to ship food products will support market growth. Plastic container demand will be boosted by use of single-serving plastic condiment containers.
Key Packaged Food Market Segments
The packaged food industry includes several sub-segments such as the functional food, dried food, canned food, baby food and pet food sectors.
The world meat, seafood, and poultry packaging (muscle food packaging) market are predicted to reach almost $31.5 billion by 2017, according to Global Industry Analysts. The main market drivers include better packaging practices, use of case-ready packaging and developments in production technologies. Rising demand for packaging is being fuelled by greater demand for convenience foods, ethnic foods, and microwaveable products.
Frozen meat products represent the leading sub-segment at over 40% of the overall market. The EU represents almost 38% of the global frozen food market. Brasil Foods is the number one company in operation, holding 5% of the overall market.
Canned meat products represent the leading sub-segment in the world canned food market, representing over a quarter of the overall canned food market. The EU represents almost 50% the global canned food market; it is lead by Del Monte Foods, which generates over 5% of the market’s value.
Frozen ready meals represent the leading sub-segment of the world ready meals market at over 60% of the overall market. The EU represents almost 40% of the global market, which is lead by Nestle, a company that represents 6.5% of the overall market. Other leading players on the ready meals market include ConAgra Foods and H.J. Heinz.
