Food service companies expect growth in volume and profit

By Jim Johnson
Senior Staff Reporter

Published: June 23, 2014 2:59 pm ET
Updated: June 23, 2014 3:03 pm ET

Related to this story

Topics Food service, Thermoforming

Those involved in food service packaging feel good these days, according to a new survey.

The Foodservice Packaging Institute’s annual survey of members and invited guests show that two-thirds of the respondents expect volume to increase this year. And 60 percent expect profits to grow as well, the trade group said.

The survey gathered more than 80 responses, including FPI members and invited guests along with members of FPI sister association Pack2Go Europe.

Nearly 60 percent of the food service packaging manufacturers and suppliers saw increased volume last year. Nearly 50 percent saw increased profits, FPI reported.

More than half of the manufacturers in survey, both North American and European, reported plans to grow through the construction of new facilities, expansion of current sites and through mergers and acquisitions, the Falls Church, Va.-based group said.

Convenience stores, fast casual dining and quick-service restaurants are seen as driving growth during the next five years.

But converters and supplier respondents said the industry is not without its challenges. They include increasing raw material costs, margin compression, public perception of packaging as waste, global economic recession and recovery, and mergers and acquisitions, FPI said.


Comments

Food service companies expect growth in volume and profit

By Jim Johnson
Senior Staff Reporter

Published: June 23, 2014 2:59 pm ET
Updated: June 23, 2014 3:03 pm ET

Post Your Comments


Back to story


More stories

Image

Sidel opens training center in Mexico

August 29, 2014 9:00 am ET

Swiss machinery company Sidel Group has opened a new training center in Guadalajara, Mexico, featuring a virtual factory environment, augmented...    More

Image

PolyOne expands special effects offerings for PET

August 27, 2014 11:03 am ET

PolyOne Corp. has added a new line of shimmer and frost-effect colorants to its InVisio line of color services and solutions.    More

Image

Canadian thermoformer ICI gets new financial backing

August 26, 2014 3:11 pm ET

Innovative Composites International Inc. (ICI) will get a $1.5 million infusion in the form of a loan and equity funding to cover a corporate...    More

Image

Sonoco buys Germany's Weidenhammer, plans for thin-walled packaging growth

August 25, 2014 1:41 pm ET

Sonoco Products Co.'s acquisition of Weidenhammer Packaging Group GmbH of Germany includes plastic packaging technology that the company is targeting ...    More

Image

Private equity firm buys Berlin Packaging

August 25, 2014 11:36 am ET

Private equity firm Oak Hill Capital Partners plans to buy rigid packaging distributor Berlin Packaging LLC for $1.43 billion.    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events