The US food industry is projected to grow at a steady rate of 2.9 percent CAGR through 2022, according to the just released 2016 Food Packaging Trends and Advances report from PMMI, The Association for Packaging and Processing Technologies.
Of all the segments within the food industry, meat products and snack foods are anticipated to outperform other segments in the market with more than 3 percent growth. According to PMMI, the growth in these two segments is attributed to consumer demand for portion control and convenience options.