Food markets for converted flexible packaging accounted for 71% of total demand in 2016 and are expected to rise to $15.5 billion in 2021. Ongoing product introductions and trends favoring smaller package sizes will fuel opportunities as will the need for enhanced shelf life and package resealability. These and other trends are presented in Converted Flexible Packaging Market in the US, 14th Edition, a new study from The Freedonia Group (Cleveland).
“Pouches and bags will capture share from rigid packaging most significantly in areas where convenience of use and storage economy are critical advantages, such as in the candy, snack, and beverage markets,” says analyst Katie Wieser.
Meat/poultry/seafood, baked goods, snack food, produce, candy/confections, and pet food were the largest food markets for converted flexible packaging in 2016, accounting for a combined 65% of food packaging demand. Through 2021, the fastest advances are anticipated in beverages, with meat/poultry/seafood and snack food also seeing good gains.
Further inroads by pouches into rigid beverage container applications are supported by the availability of spout fitments that enable resealability and provide improved dispensing. In the meat market, gains will reflect the significance of case-ready fresh meats and convenience-oriented products, such as preseasoned meats and individually wrapped portions. Snack food gains will be the result of heightened interest in better-for-you snacks, which generally have higher barrier requirements and are packaged in distinctive stand-up pouches.
For more information on the report, click here.