U.S. Snack Food Packaging Demand to Reach $5.6 Billion in 2010
Posted on: Monday, 19 June 2006, 12:00 CDT
U.S. demand for snack food packaging is projected to advance 3.7 percent per year to $5.6 billion in 2010. Gains will slightly outpace expected growth in snack product shipments, reflecting changes in food consumption patterns and trends that are changing the way snack food is packaged. One such trend is the downsizing of package sizes, which increases demand since smaller packages use more packaging relative to their volume than standard-sized products. Although the growth of club stores will boost demand for larger containers, this will be more than offset by the growth in single-serving snacks. Demand will also be driven by greater use of higher-value packaging or unique packaging chosen for increased marketing appeal. These and other trends including market share and company profiles are presented in "Snack Food Packaging," a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.
Best packaging advances are anticipated for nutrition bars. Packaging demand growth is also expected to be favorable in savory snacks and nuts and dried fruit. Savory snack packaging will be aided by a rebound in snack shipments as well as expanded offerings of single-serving size products and a healthy outlook for quick casual sandwich restaurants, which tend to sell small bags of chips as side items. Health and wellness trends and increased demand for single-serving items will also aid prospects for related packaging in candy and confection and bakery snack applications.
Flexible packaging will present above-average opportunities, with demand expected to rise 4.3 percent annually through 2010. Best advances are anticipated for pouches, including stand-up and side seal types, the result of cost, performance, convenience and differentiation advantages. Flexible packaging, while continuing to expand its overall share of snack packaging, will face growing competition from smaller rigid containers such as cups, canisters and other molded containers as these latter types can differentiate products and their compatibility with car cup holders provides greater on-the-go convenience. Plastic containers will log the fastest growth among rigid snack packaging products, driven by conversions from glass, metal and paperboard containers as well as some inroads into flexible packaging.
Contact: Corinne Gangloff Contact via http://www.marketwire.com/mw/emailprcntct?id=3306031E9F5A3CA1 440-684-9600
SOURCE: Freedonia Group, Inc.
Source: MARKET WIRE
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