Snacks to drive packaging market
consumer spending is falling for food and drink manufacturers and
retailers in Europe.
A recently published report from Research and Markets suggests that the overall share of consumer spending is falling for food and drink manufacturers and retailers in Europe, conditions that are forcing companies to re-think on which sectors they should be targeting.
According to the report findings, food and drink packaging manufacturers will need to offer consumers a much higher level of control over the use of their products, particularly with respect to portioning; allowing multiple use at different moments in time, in different locations and by different individuals with different appetites.
The report, which is titled, Growth Strategies in Packaging Food and Drink to 2007: Identifying the key market sectors, aims to identify and react to the latest developments in the food and drink packaging industry. Research and Markets says it provides a comprehensive breakdown and future forecast of each key packaging segment to 2007 backed up by in-depth analysis as well as relevant and up to-to-date case studies.
One of the key findings of the report is the fact that the food and drink industry is now at the forefront of packaging design. Accordingly this means that manufacturers and designers are very dependent on the attitudes of the major national retailers, which account for the majority of their sales.
The report also finds that in the years up to 2005, the largest segment of the European food and drinks market will continue to be the burgeoning dairy products segment. The segment is estimated to be worth €62.1 billion in 2005 and currently leads the way in the food and beverage sector with by far the largest number of product launches.
'Smart' packaging is another area that will play an increasingly important role in the day-to-day priorities of packaging professionals over the next five years, as packaging companies focus on increasingly sophisticated technologies to provide safer and more flexible solutions.
Notwithstanding, the snacks market is still the fastest growing food and drinks market by value, recording a growth rate of 7.2 per cent in 2001. The report also underlines how this segment will continue to be a primary driving force, alongside the dairy segment.
"...Drinks, snacks and dairy segments will be driving growth in kids' packaging markets. Interestingly, the ambient meals and frozen segments were the only segments where no one believed growth rates would 'highly' decline over the next five years..."
For further information about this and a selection of other market reports produced by Research and Markets. click here.