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North American Rigid Food Packaging Markets
Frost & Sullivan, April 2008, Pages: 76
This research service presents the detailed findings of the North American rigid food packaging market with various end user segment analysis.
This Frost & Sullivan research service titled North American Rigid Food Packaging Markets provides a detailed analysis in terms of forecasts by product types. This report reviews the principal drivers and restraints, examines various end-user application types, and provides a competitive structure, revenue forecast and market share analysis for this market. In this research, Frost & Sullivan's expert analysts thoroughly examine the containers and trays market.
Market Overview
Changing Lifestyles Create a Lucrative Market for Rigid Food Packaging
The modern consumer society has taken to food packaging in a big way due to two primary reasons – a rise in household income and changing lifestyles. Rigid foods packaging has especially received a huge boost with the shift away from glass containers to plastic ones as fast lifestyles are causing consumers to increasingly demand greater ease of use in products. People are opting for convenient packages such as sliced vegetables, meat, and ready-to-eat meals in trays. 'More than 60 percent of the women in North America are part of the labor force, and surveys estimate that meal preparers spend less than an hour a day on food preparation and cleanup,' says the analyst of this research. 'This lifestyle has resulted in greater demand for ready-to-eat meals and precooked food, which has been driving the rigid food packaging market.'
The market can expect continuous and steady growth since consumers’ higher purchasing power allows them to spend more on food. For instance, U.S. consumers spend nearly 10 percent of their disposable personal income on food, and Canadian consumers, almost 14 percent. Manufacturers will have to sustain these vast markets by developing technologically advanced products that offer longer shelf life. Advancements in material sciences enabled the use of high-barrier and breathable films as well as packaging trays and lightweight plastic jars and bottles. These improvements have lured customers away from the more expensive and inconvenient traditional package types such as glass or metal bottles and jars.
Technological Improvements to Brighten Market Prospects
The North American rigid food packaging market is increasingly witnessing consolidation, with the larger companies acquiring small- and medium-sized enterprises to enhance their market shares. The market is also challenged by the need to find suitable disposal methods for multilayered plastic rigid packages, as they pose a major problem in recycling. The rising emphasis on recycling plastic products due to the high resin cost and the increasing environmental awareness are compelling manufacturers to develop alternative packaging materials.
'The success of a company primarily depends on the investments in technological upgradation, implementation of an inorganic growth strategy, and adoption of effective supply chain management principles,' notes the analyst. 'Therefore, it is necessary to have consistent product innovation along with excellent customer service and technical support.'
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