The $1.2 billion market for primary packaging materials for microwavable products is forecast to grow at a robust 9.4 percent annual rate through 2016 according to a newly released market research and intelligence report from Allied Development Corp. The study U.S. Microwaveable Packaging 2012-2016 forecasts that U.S. annual sales of primary packaging materials for microwavable products will nearly reach $2.0 billion in 2016.
The study evaluates packaging technologies that are expanding microwavable packaging into new end-user categories by increasing package functionality. One example are self-venting pouches or trays that can be transferred directly from the freezer to the microwave oven, eliminating the need for manual venting by consumers. This feature has helped spur growth in the largest end-user segment—entrees (which in 2011 accounted for 29 percent of all U.S. sales of primary packaging materials for microwavable products)—as well in the fastest growing end-user segment: vegetables. The study forecasts 18.5 percent annual sales growth through 2016 for primary packaging materials for microwavable vegetables.
Another innovation, susceptor technology, is an ongoing and major development in microwavable packing that is contributing to the projected high growth rate of particular types of packaging materials, notably paperboard cartons and sleeves for hand-held entrees and pizza slices. Susceptors enable microwave-prepared foods to more closely match the quality, taste and texture of food prepared in conventional ovens. This technology has been instrumental in the relatively high growth rate of folding cartons as a type of microwavable packaging, which the study forecasts to be a 13.2 percent rate of growth per year through 2016.
Source: Allied Development Corp.