6) Food safety is becoming paramount.
What this means to you: No longer are the words tampering and bio terrorism buzz phrases. They are facts of life. Product integrity will become increasingly important to consumers. New packaging ideas have been developed in response to growing food manufacturer fears about food safety and tampering. Packaging is likely to perform a key role in establishing and maintaining consumer confidence.
7) Environmentally friendly biodegradable packaging is another growth area, reflecting consumer and retailer awareness of the issue of waste disposal.
What this means to you: A large number of packaging firms are launching products made of 100 per cent recycled materials. There is increasing evidence of biodegradable inks on the market. All it takes is a few early adapters to make huge swings in the use of environmentally friendly materials. Remember how quickly the market changed when McDonalds switched from an EPS clamshell to a paperboard product? Literally overnight, the entire packaging climate changed.
8) Niche markets for products are being created. Niches that are large enough to be very profitable.
What this means to you: New products are being introduced for specific target markets. No longer can one product capture the majority of a consumer segment. Many of these markets are obscure but very lucrative. Innovation is continuing at a rampant pace. Look for new and previously untapped markets. Two growing areas are products marketed to women and boomers.
The over 50 market is the hottest market for prestige products. With 76 million U. S. boomers born between 1946 and 1964, the potential for profit and growth are enormous. Every seven seconds, someone is turning 50 years old. Baby boomers will push the number of 50-and-over adults to more than 108 million by 2015.
9) Look for the continued growth of dual purpose products.
What this means to you: Growth can come from unlikely areas. Markets that were once strong have become so diluted they have become unprofitable. Whether you call if “phood” or pharmaceutically engineered and enhanced food, this category is hot. Explore all of the new product introductions that fall under these parameters.
The New U. S. “Phood" Market: Functional, Fortified, and Inherently Healthy Foods and Beverages
What You’ll Get in this Report
The New U. S. “Phood" Market-Functional, Fortified, and Inherently Healthy Foods and Beverages makes important predictions and recommendations regarding the future of this market, and pinpoints ways current and prospective marketers can capitalize on current trends and spearhead new ones. No other market research report provides both the comprehensive analysis and extensive data that The New U. S. “Phood" Market-Functional, Fortified, and Inherently Healthy Foods and Beverages offers. http://www.packagedfacts.com/pub/1020433.html
10) Competition will continue unabated.
What this means to you: Today's market leader may be tomorrow's out of business company. Keep abreast of changing technology and innovation is the key.
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