U.S. food industry forecast to reach $31.7B by 2022
U.S. food industry forecast to reach $31.7B by 2022
2016-03-28 From:Packaging World Steady growth of 2.9 CAGR expected; slightly more for meat and related products and snack foods The U.S. food industry is forecast to grow at a steady rate of 2.9 percent CAGR through 2022, according to the just released 2016 Food Packaging Trends and Advances report from PMMI, The Association for Packaging and Processing Technologies. Based on interviews from 70 professionals across the food processing and packaging industry in the U.S. and overseas, the study forecasts that meat and related products and snack foods will outperform the market with over 3 percent growth. The growth in these two segments is attributed to consumer demand for portion control and convenience options.
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