Packaged Food Industry Analysis
ID Number: 3765990
MGTS 4481: Section 002
Industry Analysis
Introduction
According to Market Research, the packaged food industry “consists of all types of foods and/or beverages found in mass, gourmet, and specialty markets internationally. These products range from raw ingredients like spices, to convenience products like ready-made meals. Packaged foods can be shelf-stable, refrigerated/frozen, and can be packaged in bags, bowls, bottles, boxes, brick packs, cans, cartons, crates, jugs, packets, pouches, spray or pump dispensers, tins, tubes, and tubs, among other packaging formats” (Packaged Foods Market Research Reports, 2012). Products that are not included in the packaged food industry would be products that do not go through the packaging process; meals served at restaurants, drive-thru fast food, and relevant services. The value chain for the packaged foods industry would start with raw materials which are generated and converted, which then move to production and distribution to retailers and consumers which are then used and disposed of (Innovative Food Packaging Solution, 2008). The inputs for the industry would be the raw materials and production and distribution labor that goes into producing the products, while the companies in the industry are selling to wholesalers and consumers.
In 2010 the global packaged food retail value was approximated at $1.95 trillion, with a projected forecast in 2015 of $2.14 trillion ("Packaged Food 2010 - Part 1: Global Market Performance”). This forecast is showing the growth of the packaged food market is expected to be increasing substantially over the next few years. While the market often changes due to behavior shifts and social/cultural trends, new technological developments must be made to meet these changing needs. An example of the technology changes that are currently occurring would be the trend towards sustainability; companies are going to need new technology in order to make their packaging more
MGTS 4481: Section 002
Industry Analysis
Introduction
According to Market Research, the packaged food industry “consists of all types of foods and/or beverages found in mass, gourmet, and specialty markets internationally. These products range from raw ingredients like spices, to convenience products like ready-made meals. Packaged foods can be shelf-stable, refrigerated/frozen, and can be packaged in bags, bowls, bottles, boxes, brick packs, cans, cartons, crates, jugs, packets, pouches, spray or pump dispensers, tins, tubes, and tubs, among other packaging formats” (Packaged Foods Market Research Reports, 2012). Products that are not included in the packaged food industry would be products that do not go through the packaging process; meals served at restaurants, drive-thru fast food, and relevant services. The value chain for the packaged foods industry would start with raw materials which are generated and converted, which then move to production and distribution to retailers and consumers which are then used and disposed of (Innovative Food Packaging Solution, 2008). The inputs for the industry would be the raw materials and production and distribution labor that goes into producing the products, while the companies in the industry are selling to wholesalers and consumers.
In 2010 the global packaged food retail value was approximated at $1.95 trillion, with a projected forecast in 2015 of $2.14 trillion ("Packaged Food 2010 - Part 1: Global Market Performance”). This forecast is showing the growth of the packaged food market is expected to be increasing substantially over the next few years. While the market often changes due to behavior shifts and social/cultural trends, new technological developments must be made to meet these changing needs. An example of the technology changes that are currently occurring would be the trend towards sustainability; companies are going to need new technology in order to make their packaging more