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[175+ Pages Research Report] The U.S. Packaged Food & Beverages Market to surpass USD 2348.44 billion by 2030 from USD 815.55 billion in 2020 at a CAGR of 11.16% within the coming years, i.e., 2020-30.
Product Overview
Packaged food and beverages is the packaging provided for food to protect them from tampering resistance, and certain physical, chemical, or biological needs. Carons, coated packaging, cans, boxes, bags, trays, aseptic protecting, pallets, and wrappers are several significant types of food and beverage packings. It may also stand some nutrition facts label and other information about food being offered for sale. The packaging and labels are used by marketers to boost potential buyers to purchase the product. Aesthetically attractive and eye-appealing food exhibitions are encouraging people to ponder the contents. Packaging of food and beverages reduces the security risk of shipments.
Market Highlights
U.S. Packaged Food & Beverages Market is predicted to project a notable CAGR of 11.16% in 2030.
Globally, the U.S. Packaged Food & Beverages Market is enduring a big growth and is predicted to grow consequently within the next few years. U.S. Packaged Food & Beverages Market surge to a rapid climb due to its various benefits such as growing demand for natural and organic foods and mainly for premium products. Increasing customization depending upon the ingredients, consumer awareness, varying lifestyles are the major drivers to grow. These driving factors are emerging as market trends in U.S. Packaged Food & Beverages Market. Additionally, consumer's rising interest in craft, low ABV, and premium beer are boosting U.S. Packaged Food & Beverages Market. Hence, these market drives are generating accelerated opportunities for glass packaging in the mature market of North America.
Recent News and Developments
Bloomington, Minn.-based Schwan, a business unit of South Korean producer CJ Cheil Jedgang, plans to create a 400,000-square-foot growth to its pizza plant in Salina, Kan. Work on the new production lines, shipping and receiving docks, and work area are regular to start within the distended area in Gregorian calendar month 2022.
In January 2020, Nestlé announced it would invest up to $ 2.12 billion in advanced sustainable packaging solutions to move to recycled food-grade plastics made from virgin plastics. The company is committed to making 100% of its packaging reusable or recyclable by 2025.
U.S. Packaged Food & Beverages Market: Segments
Rigid segment to grow with the highest CAGR during 2020-30
U.S. Packaged Food & Beverages Market is segmented by Packaging Material into Rigid, Semi-Rigid, and Flexible. The Rigid segment is anticipated to dominate the U.S. Packaged Food & Beverages Market. Rigid packaging is extensively used owing to its approving properties such as a strong barrier to light, moisture, and oxygen, which helps in preventing the food from getting soiled. North America is projected to be the largest merging market for rigid food packaging, due to rising consumer demand for packaged food that offers nutritional value and convenience. The U.S. market is also mounting its demand for the Semi-Rigid segment that includes dairy products, fresh sandwich packs, and bakery and confectionery products. Consequently, increased ingesting of milk and dairy products and bakery and confectionery products is expected to drive the demand for semi-rigid food packaging in the coming years that will propel the U.S. Packaged Food & Beverages Market.
Beverages segment to grow with the very best CAGR during 2020-2030
U.S. Packaged Food & Beverages Market is segmented by Product Type into Seafood, Meat & Poultry, Milk & Dairy, Oils, Fruits & Vegetables, Beverages, and Others. The Beverages segment is projected to dominate the U.S. Packaged Food & Beverages Market. The Beverages segment is booming U.S. Packaged Food & Beverages Market due to its wide application in consumers day-to-day lifestyle. Healthy protein-based drinks made with natural and organic ingredients and low sugar are acquiring traction among consumers. Furthermore, increasing demand for functional beverages is fueling the growth of the U.S. Packaged Food & Beverages Market. Milk, butter, and cheese are widely spreader applications in the daily lives of consumers in the U.S. Also, increasing demand for smaller components of meat and food is anticipated to drive the demand for the U.S. Packaged Food & Beverage Market. The emergence of fish and food as snacks is anticipated to drive regional market growth. Moreover, government initiatives to push healthy consumption habits are expected to boost the demand for meat, poultry, and seafood packaging. Moreover, yogurt and yogurt drinks are also capturing customer traction across the nation.
Market Dynamics
Drivers
Mounting consumption of RTE food products
Consumers are rapidly shifting their preferences from homemade cooking food to RTE meals. Preventing consumers' time and efforts due to the changing lifestyle have boosted the demand for RTE food products. Prepared or ready meals are an enormously convenient substitute for dual-earning households and students across the country. Besides, consumers are willing to pay a premium price for higher-quality expedient foods that are favorably improving the growth of the U.S. Packaged Food & Beverages Market. In addition to this, millennial consumers are winning traction for RTE stew, soup, sandwiches, burgers, and salads in the U.S. Food & Beverage market. Increased demand for exotic flavors in beverages is enhancing the regional market extension. Besides, bakery and confectionery products, dairy products, and snacks, and nutritional bars are also justifying the consequent growth of the U.S Packaged Foods & Beverages Market.
Rising consciousness in food selection
The food industry is experiencing a few variations in 2021 owing to the escalated consciousness of consumers in the type of food selection. The fueling demand for sustainable, regenerative, plant-based food and beverages along with immunity-boosting ingredients has fostered the U.S. Packaged Food & Beverages Market to grow promptly. (DIY) the trend has seen gigantic thrust during the pandemic time and is likely to continue in 2021 and further upcoming years. Moreover, cumulative demand for higher-quality cocoa products has fast-tracked confectionery sales in North America. Also, the U.S. packaging industry is increasingly and incessantly emerging more sustainable solutions for their products, with a surge in reusable solutions.
Restraints
Lack of consumption
The shift in the demand for catering services to the need to temporarily and sometimes permanently shut down catering services is one of the most shocking changes in the packaged food industry that tend to restraint the growth of the U.S. Packaged Food & Beverages Market. With the opening of COVID19 and disabled retail stores to limit its spread, consumers have turned to retailers to help satisfy many of their dinners. The emergence of several local brands masquerades major risks to the growth of the U.S. Packaged Food & Beverages Market.
COVID-19 Impact on the U.S. Packaged Food & Beverages Market
The sales of prepacked foods surged considerably in 2020 within the U.S. due to the COVID-19 pandemic and lockdown. The retail sales of the product grew at a double-digit rate from March to could in 2020. The buyer expenditure on food grew considerably throughout the pandemic compared to before the pandemic due to the social distancing practices and quarantine measures. shoppers have stockpiled snacks, ready-to-eat, and ready-to-cook products during the initial months of the pandemic. This emergence of panic searching has vividly fueled the demand for packaged foods in the U.S. market.
U.S. Packaged Food & Beverages Market: Key Players
Nestlé
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Stamford, CT
PepsiCo., Inc.
Tyson Foods
Archer Daniels Midland Company
Kraft-Heinz Company
Danone
White Plains, NY
Unilever
Minneapolis, MN
U.S. Packaged Food & Beverages Market.: Regions
The U.S. Packaged Food & Beverages Market is segmented based on regional analysis into four major regions. These include Northern USA, Southern USA, Eastern USA, and Western USA. In the U.S., many food corporations offer B2B or bulk services that have led the regional market to grow vividly. The rising sales for packaged food and beverages are dominating the U.S. Packaged Food & Beverages Market with the high revenue share, owing to accessibility of advanced packaging, health concerns, change in the standard of living, along with high consumer spending capacity on food and exotic and premium food products. Additionally, the existence of key service providers operating in the US is projected to fuel the regional market growth. Conversely, the APAC region is the main driver due to its highest concentration of manufacturers in agricultural foods such as grains, roots, tubers, oil seeds and beans, nuts, fruits, and vegetables in the world. The Asia Pacific is also projected to grow at a fast pace during the forecasted period, owing to the high production of animal products and fish in large amounts.
U.S. Packaged Food & Beverages Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - North Africa, Israel, GCC, South Africa, and Rest of MENA
U.S. Packaged Food & Beverages Market report also contains analysis on:
By Packaging Material
Rigid
Semi-Rigid
Flexible
By Product Type
Seafood
Meat & Poultry
Milk & Dairy
Oils
Fruits & Vegetables
Beverages
Others
U.S. Packaged Food & Beverages Market Dynamics
U.S. Packaged Food & Beverages Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
U.S. Packaged Food & Beverages Market Report Scope and Segmentation
Report Attribute Details
Market size value in 2020 USD 815.55 billion
Revenue forecast in 2030 USD 2348.44 billion
Growth Rate CAGR of 11.16% from 2021 to 2030
Base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Packaging Material, Product Type, and Region
North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
Key companies profiled Nestlé, Stamford, CT, PepsiCo., Inc., Tyson Foods, Archer Daniels Midland Company, Kraft-Heinz Company, Danone, White Plains, NY, Unilever, Minneapolis, MN
Frequently Asked Questions
How large is the U.S. Packaged Food & Beverages Market?
Which segment is projected to bolster the Market share in future?
Which regional market is highly dominating U.S. Packaged Food & Beverages Market?
What are the factors driving the U.S. Packaged Food & Beverages Market?