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 Thermoforming, Food service

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

Thermoforming Technology Group adds Lyle Industries to its portfolio

July 18, 2014 2:48 pm ET

Thermoforming Technology Group LLC has expanded its thermoforming equipment presence with the acquisition of Lyle Industries Inc.    More

Image

Portugal's Gepack setting up PET packaging facility in Arizona

July 18, 2014 3:32 pm ET

Gepack, a maker of PET bottles in Portugal, is setting up new a manufacturing facility in Arizona.    More

Image

Bag ban stalls, bottle bill may be headed to Massachusetts voters

July 18, 2014 12:26 pm ET

A proposed state-wide bag ban that drew much attention when it was proposed last spring has since stalled out, and a decades-long effort to include...    More

Image

PET prices climb 2 cents

July 17, 2014 2:22 pm ET

After holding their ground in May, North American PET prices rebounded to show an average increase of 2 cents per pound in June.    More

Image

Fabri-Kal introduces new HDPE packaging for mushrooms

July 16, 2014 11:04 am ET

Fabri-Kal Corp., the Kalamazoo, Mich.-based thermoforming company, has introduced a new line of mushroom packaging, known as tills, made from high den...    More

Market Reports

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Plastics Recycling Market Review & Outlook 2014

This special report from Plastics News examines the North American plastics recycling industry and provides insight into indicators that impact market viability, including Resin pricing trends for virgin and recycled market material and historical Resin production trends for post- consumer and industrial waste.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

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

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

More Events