US Prepared Foods Packaging

US Prepared Foods PackagingDemand for prepared food packaging is forecast to increase 3.5% per year to $6.5 billion in 2027, with real growth of 2.1% per year to 63 billion units. Gains will be supported by increased demand for fresh (refrigerated) prepared foods such as grab-and-go dinners, salads, and sandwiches at grocery and convenience stores. Market value will also be boosted by the shift to higher value packaging formats such as stand-up pouches, two-piece plastic containers, and molded fiber trays and bowls.Plastic Remains Top Prepared Foods Packaging Material Despite Sustainability ConcernsWhile concerns over the sustainability of plastic packaging continue to rise, its performance and cost benefits and firmly established role in supply chains have maintained plastic’s dominance in the prepared food packaging market. In order to address sustainability concerns, plastic manufacturers continue to increase the use of recycled content in their products, reduce the amount of plastic used per packaging unit, and focus on improving the overall plastic recycling rate.Strong Interest in Health & Convenience Driving Demand for Fresh/Refrigerated FoodsFresh/refrigerated prepared foods represent the fastest growing format for prepared foods packaging. Consumers are increasingly looking for quick meal solutions and easy alternatives to restaurant meals, and this has led retailers to expand their offerings of fresh prepared food options throughout the store. With the resumption of normal activities and busier lifestyles following the COVID-19 pandemic, there is renewed demand for convenient on-the-go meal solutions that are perceived as being relatively healthy.Packaging, such as clamshells and two-piece containers, have grown in popularity as they can effectively protect these foods while also making their contents visible, allowing consumers to confirm the freshness of the food.Dinners Will Be the Largest Application for Prepared Foods PackagingDinners will account for the largest share of prepared foods packaging demand due to the convenience of these meals for a wide varitey of consumers. Prepared dinners allow consumers who are crunched for time to eat a meal without preparing it from scratch or enduring a lengthy cooking process. These meals can also reduce food waste by offering right-sized portions, which can be important for small-sized households or elderly consumers. Prepared dinners will continue to incorporate higher value packaging that either facilitates cooking (e.g. steamable packaging) or is more sustainable (e.g., molded fiber trays and bowls).Study DescriptionThis study examines the US market for food packaging, defined as primary and secondary packaging materials sold to food manufacturers, primarily for products targeted at retail or foodservice markets. Historical data are provided for 2012, 2017, and 2022, with forecasts through 2027. Annual data is provided for 2019-2026. Data are provided in current dollar value and units. Also provided is an analysis of key industry players.