Packaging Innovation-2, Food, Project #14490
Packaging Innovation-2, Food, Project #14490
Uriel Corporation® (DBA: "Epic Ventures™") Projects
Three disruptive eras in the global packaging industry:
Packaging is a critical enabler for the everyday lives of most consumers. It helps to support the purchasing decision journey in retail stores, creates cost-efficient delivery systems for brand owners, minimizes product breakage and food waste throughout the value chain, and facilitates the consumer’s need for convenience. In 2019, we outlined five major trends we expected to change the game in the diverse $1 trillion-plus packaging industry: e-commerce, changing consumer preferences, margin compression, sustainability, and digitization. We predicted that these trends would raise the bar for performance over the next five to ten years. In 2020, the COVID-19 pandemic made food safety and hygiene a sixth key industry-shaping trend. Overall, the strategic importance of well-functioning and cost-efficient packaging materials for customers in the value chain accelerated, given the stretched supply chains of the pandemic. What now lies in store for the packaging industry during the next normal up to 2030? How can CEOs navigate these choppy waters?
To understand the future, industry leaders must consider where the packaging industry is coming from. Each of the three eras we identified (Exhibit 1) has been characterized by major changes in consumer behavior (factor 1), which promoted innovation and the development of new packaging products (factor 2). Changes in the market and global environment ultimately led to renewed corporate and value-chain structures as well (factor 3).
In the context of today’s era of disruption, transformational change in markets, and increasing volatility, these are the six priority moves that industry leaders can use to create resilience, capture growth, and navigate transformational change.
- Sustainability: Invest where it matters to consumers and regulators.
- Growth: Win by identifying granular pockets of opportunity.
- Procurement and the supply chain: Use strategic category management to get ahead of inflation and supply headwinds.
- Pricing excellence: Recapture inflation and use it to capture margins.
- Talent: Attract, retain, and retrain employees, and get the return to work right.
- Digital and e-commerce: Embrace digitization (including the use of automation) in the front, back, and middle of processes.
US Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)
The US Packaging Market size is estimated at USD 200.98 billion in 2024, and is expected to reach USD 244.17 billion by 2029, growing at a CAGR of 3.97% during the forecast period (2024-2029).
The United States is one of the fastest-growing packaging markets in North America. Large packaging companies, such as Amcor Ltd, Mondi PLC, etc., drive investments for innovation and R&D activities in the country and provide unique solutions for many packaging challenges.
- The differential growth across materials and formats drives the fundamental shifts in the packaging industry. In the United States, these differentials are a by-product of the changing consumer behaviors and product innovation within the market.
Source: https://www.mordorintelligence.com/industry-reports/packaging-industry-in-united-states
Retail Ready Packaging Market Research, 2031
The global retail ready packaging market size was valued at $65.1 billion in 2021, and is projected to reach $107.8 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031. Retail ready packaging is a kind of secondary packaging that displays brands of products, which help in product identification. Retail ready packaging exhibits numerous benefits for retailers as well as brand owners; for instance, its design helps in effective and efficient stocking and sales. In addition, it provides easy transportation with easy shelf replenishment to retailers while displaying brand without removing external secondary packaging, which acts as a value-added specialty for brand owners.
Increase in demand for packaged processed foods & beverages is expected to spur growth of the market. Growth in fast moving consumer goods which mainly consist of packed food is anticipated to boost the retail ready packaging market growth. FMCG goods raised demand for retail ready packaging, owing to its creative and effective functional design that helps retailers in product identification to facilitate effective stocking, improve store efficiency, and reduce labor efforts by placing products directly on retail shelves without unpacking inner contents and turnover time for re-stocking that ultimately increase sales and profit of a store. Other than these benefits, it helps in improving shelf life of fragile and sensitive products. From consumer’s perspective, its product identification character facilitates consumers with convenient shopping experience, which propels the growth of the retail ready packaging industry in global market.
INDUSTRY STATISTICS:
Food Storage Container Market Analysis and Size.
Nowadays, awareness regarding sustainability issues and environmental challenges related to food packaging is growing rapidly, which positively influences the growth of the food storage container market. Moreover, the growing focus of manufacturers on aesthetics and innovation of the food containers is significantly attracting food manufacturers to provide their products in different innovative food packaging, which, in turn, is likely to increase the market growth in the upcoming period.
Data Bridge Market Research analyses state that the food storage container market is expected to reach USD 227.19 Billion by 2030, which was USD 158.54 Billion in 2022, registering a CAGR of 4.60% during the forecast period of 2023 to 2030.
SOURCE: reports/global-food-storage-container-market
US Packaging Market Overview
The United States (US) packaging market size was valued at 647 billion units in 2022. The market is anticipated to register a CAGR of more than 1% during 2022-2027. The United States (US) packaging market report brings together multiple data sources to provide a comprehensive overview of the packaging industry in the US, as part of our coverage of the industry across 50 countries.
US Packaging Market Overview, 2022-2027 (Billion Units)
The market research report provides an overview of the usage of different packaging materials across different industries in terms of the number of units, packaging share, and growth rates during 2017–27, in addition to key packaging innovations for key industries in each of the categories analyzed. The report also includes data and analysis for five-pack materials across several sectors.
US Packaging Market Growth Factors:
- Due to the strong build, convenience, and impermeable nature of gases and vapors, the usage of metal cans has increased in recent years.
- Owing to growing eco-consciousness, consumers are seeking products packaged in paper & board format.
US Packaging Market Segmentation by Pack Material
In 2022, the rigid plastics segment dominated the US packaging market.
The key pack materials in the US packaging market are rigid plastics, rigid metal, paper & board, flexible packaging, and glass. Rigid plastics are usually a preferred choice in non-alcoholic beverages and food industries because of their portability, convenience, and lightweightness that facilitate on-the-go consumption. The durable and cost-effective packaging ensures long-term protection for stored food and beverages alike.
US Packaging Market Analysis by Pack Material, 2022 (%)
US Packaging Market Segmentation by Industry
The packaging industry in the US is characterized by its strong use in the food industry.
The key industries using pack materials in the US packaging market are food, alcoholic beverages, non-alcoholic beverages, cosmetics & toiletries, and other industries. In the food industry, flexible packaging was the most widely used pack material in 2022. The demand for flexible packaging in food products is mostly attributed to its high consumption in savory snacks, bakery & cereals, and confectionery wherein consumers prefer products that provide the benefits of safe delivery and ease of transportation.
US Packaging Market Analysis by Industry, 2022 (%)
Requirements For National, Regional, or Global Commercialization:
1) Global Intellectual Property Cooperative Development Agreements. (To Be Discussed.)
2) Patent Litigation & Defense Fund/Insurance Cooperative Agreements. (To Be Discussed.)
3) Engineering, Development & Prototyping Cooperative Agreements. Estimated time required = 6 months to a year. (To Be Discussed.)
4) Key Executive & Project Commercialization Team Agreements, Employee Agreements, Recruiting Firm Agreements, Third-Party Operations Management Agreements, Installation & Service Technician Agreements, Warranty Services Agreements, and other Third-Party Consulting Agreements. (To Be Discussed.)
5) Production Manufacturing & Tooling Agreements. (To Be Discussed.)
6) Internal and External Marketing & Sales Agreements. (To Be Discussed.)
7) Website Development & Management Agreements; Social Media Development & Management Agreements; Online Advertising & Public Relations Agreements; E-commerce & E-Store Development & Management Agreements. (To Be Discussed.)
8) Distribution, E-Store, Manufacturing Rep, and Channel Partners Alliance Partner Agreements. (To Be Discussed.)
9) Equity Crowd Funding Platform Agreements; Fund-Raising Agreements; Loan, Credit Line, or other Financing Agreements; Business Broker Agreements, Merger & Acquisition Advisory Agreements, and or other related Agreements. (To Be Discussed.)
*NOTICE: Further Agreements or Other Agreements may be required for National, Regional, or Global Commercialization that may pertain to the project above. The Agreements shown above are only general requirements. Please further note that Uriel Corporation® (DBA: Epic Ventures™) reserves the right to cancel, abandon or withdraw, edit, amend, or replace this project for another project at its sole discretion. Uriel Corporation® (DBA: Epic Ventures™) reserves the right to remove this project from its activities, from its commercialization interests and from its pursuits. Please note that a listing on this site does not guarantee that this project will be commercially available, nor does a listing on this website guarantee that Uriel Corporation® (DBA: Epic Ventures™) will pursue any actual or potential collaborations with third parties. A project listing on this site does not guarantee that third parties will be able to participate in the commercial pursuit of this project or related ventures. Collaborations that might result from this listing are not guaranteed to succeed. Collaborators that wish to work with Uriel Corporation® (DBA: Epic Ventures™) on this project do so entirely at their own risk. Collaborators are urged to perform their own proper due diligence and they are urged to seek their own counsel to determine whether they should participate in this commercialization venture. All information, documents, designs, plans or other materials that may be obtained or communicated from Uriel Corporation® (DBA: Epic Ventures™) that may pertain to this project are the property of Uriel Corporation® (DBA: Epic Ventures™) and may be used by the recipient only for the purposes specifically intended by Uriel Corporation® (DBA: Epic Ventures™). The information that may be transmitted, including any emails, attachments, phone communications, faxes, snail mail, virtual meetings, physical meetings, or communications otherwise, is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, re-transmission, dissemination, or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited, and all liability arising therefrom is disclaimed. All collaborators shall agree to enter into NDAs/Non-Compete Agreements that will be required before any collaborations related to this project are further formalized in writing.