At 92 million strong, the millennial generation is the largest in U.S. history. Currently holding over $600 billion in annual purchasing power, millennials’ buying power is predicted to reach $1.4 trillion annually by 2020 and $11.3 trillion by 2030. Like it or not, millennials are taking over the joint.
According to a report by Transparency Market Research, the global biscuits market is estimated to reach U.S. $109,959.9 million by the end of 2025. Increasing consumer demand for natural and GMO-free products is pushing the market due to rising health awareness and food safety concerns,
Increased government regulations, rising consumer demand and personalized care are among the top five reasons for growth in the pharmaceutical and medical device industry, according to PMMI, The Association for Packaging and Processing Technologies. PMMI just released the 2017 Pharmaceutical and Medical Device White Paper and accompanying infographic exploring the top five forces shaping this market.
The global sanitary food and beverage packaging market is likely to grow at a CAGR of nearly 6% during the forecast period 2017-2021, according to Future Market Insights (FMI). Increasing emphasis on maintaining food safety during the supply chain is promoting investments by manufacturers.
The global ready meals market is expected to grow due to increasing advancement in the packaging industry. Demand for food that is additive-free, minimally processed and with extended shelf life is expected to drive the market.
The global packaging divider market is expected to grow at a CAGR of close to 6% during 2017-2021 period, report projects; food and beverage accounted for close to 33% of total market in 2016, while pharmaceuticals held 27% market share and automotive took 18%.
The global packaging adhesives market is expected to reach U.S. $10.11 billion by 2025, according to a new report by Grand View Research Inc. The growing usage of packaging adhesives in flexible packaging, paper & board packaging, and rigid packaging is anticipated to strengthen the market growth.
Mintel announces the four key trends set to impact North American consumer markets over the coming year. With surprises at every turn and vague uncertainty, being attuned to consumer trends across transparency, value, self-care and automation is perhaps more crucial in 2018 than ever before.
In the November issue of Packaging Strategies, we feature a new trend: Re-commerce, brands and Generation Z, resealable closures in food packaging, a pretzel company with filling & weighing equipment for more productivity and much more!