Publish Date: 31-Mar-2020
Currently, consumer decisions and buying patterns are heavily influenced by the ever-increasing environmental concerns. People are moving towards healthier eating habits and trying to incorporate fitness into their lifestyles as a key to well-being and longevity. The shift in buying patterns has forced packaged food companies to reimagine their processing and packaging techniques.
Several foods and beverage packaging industries are moving towards greener packaging, less waste, and more sustainable operations, along with several efforts at brand extensions focusing on healthier products. For instance, the top global packaged food industry Nestle has recently developed a new paper packaging for its products, a technology it hopes to extend to its entire product portfolio, to make all of its packaging reusable and recyclable by 2025.
The new paper wrapper guarantees the same shelf life as plastic. The packaged food company rolled out the paper packaging for its popular flavored milk powder Nesquik at the beginning of 2019 and has planned to introduce paper packaging for its other products as well in 2020.
Straits Research has studied the latest statistics provided by Statista, showing that the global packaged food market accounted for USD 2.70 trillion in 2018. Research analysts claim that the industry will reach USD 3.86 trillion by 2026, with an expected CAGR of 4.56 percent during 2020-2026.
Nestle S.A. is currently is leading the list of the top packaged food companies in the world, both in terms of sales and revenue. The Swiss food company was established in 1866 by founder Henri Nestle. The packaged food company is well known for its brilliant food products consumed by all across the borders, with nearly 2000 products.
Nestle’s product portfolio includes bottled water, baby food, coffee, breakfast cereal, confectionery, dairy products, ice cream, snacks, and pet food. More than 29 of the food company’s brands record a net sale of over USD 1.1 billion, with 450 factories and operations in 86 countries. The company’s most popular products are Nespresso, Nescafe, KitKat, Nesquik, Smarties, Vittel, Stouffer’s, and Maggi.
General Mills Inc. is a gigantic manufacturer of branded packaged consumer foods and pet food products sold through retail stores and supermarkets. The food company is a prominent supplier of branded and non-branded packaged food products to the North American Food Service and baking industries.
General Mills Inc. has a vast list of branded food it manufactures, including Betty Crocker dessert mixes, Pillsbury cookie dough, Gold Medal flour, and Yoplait yogurt. The company competes with Kellogg to become the top cereal maker as it offers a diverse range to choose from. The brand arsenal includes Kix, Chex, Cheerios, Wheaties, and Lucky Charms. General Mills Inc also owns the famous gourmet ice cream brand Haagen-Daz.
Frito-Lay Inc. is the world’s number 1 manufacturer and producer of potato chips, becoming the leader in the salty snack category. Frito-Lay holds 35 percent of the world’s market in chips and 60 percent in the United States. Lay’s, Ruffles, Doritos, and Cheetos are dominating the world of snack chips. The company attracts a revenue of USD 4 billion outside of the United States, with operations in 42 countries.
Another popular name in the list, The Hershey Company, is a global leader in the packaged food industry known for bringing quality confectionary to the world, including sweets, chocolates, mints, and other delicious snacks.
The Hershey Company has around 18,000 employees around the world, working to deliver quality products. The packaged food manufacturer has more than 80 brands retailed all over the world, generating more than USD 7.4 billion in annual revenues. The Hershey Company’s iconic brand names include Hershey’s, Hershey’s Kisses, Reese’s, Jolly Rancher, and Ice Breakers. The company aims to enhance its product portfolio and focuses on expanding its operations to other key international markets.
Kraft Heinz, together with its subsidiaries, is a global manufacturer and marketer of packaged food and beverage products across the United States, Canada, the United Kingdom, and other key regions internationally. It is known for its classic condiments and sauces, cheese and dairy, meats and seafood, packaged meals, beverages, coffee, salted snacks and nuts, frozen food, infant nutrition products, and other grocery products.
The company offers its products under the following brand names: Kraft, Heinz, Oscar Mayer, Philadelphia, Velveeta, Planters. Capri Sun, Lunchables, Kool-Aid, Classico, McCafe, and many more. The distribution and supply chain include independent brokers, grocery stores, wholesale, convenience stores, drug stores, value stores, bakeries, mass merchants, pharmacies, club stores, and drug stores.
Conagra Brands, Inc. is North America’s leading packaged food conglomerates headquartered in Chicago. The company is guided by an entrepreneurial spirit that combines a rich heritage and sharpened innovation to bring quality products to supermarkets. Some of ConAgra’s most famous brands include Birds Eye, Healthy Choice, Banquet, Marie Callender’s, and Duke, offering quality food for every occasion.
In 2019, ConAgra Foods showcased its expanded “better-for-you” product portfolio, with ten new brands focusing on health and nutrition and representing the company’s commitment towards transforming and contemporizing its portfolio.
Headquartered in Greeley, Colorado, the company American company processes and packages fresh, value-added meat products for sales to customers in more than 105 countries. The global food company has recently announced a USD 95 million expansion project for its Grand Island, Nebraska beef facility. The massive project includes new and improved meat handling facilities, temperature-controlled harvest floor, and facility reconfiguration designed to improve member experience, quality, and food safety.
Tyson Foods Inc. is an American international branded and packaged food corporation based in Springdale, Arkansas. The company is the world’s second-largest marketer of chicken, beef, and pork after JBS S.A. Brand names like Jimmy Dean, Hillshire Farm, Wright, Ball Park, and State Fair are included in the product portfolio. Tyson Foods continues innovating to make food more sustainable and crafts food fit for all.
Recently, Tyson Foods Inc. has planned on accelerating the growth of the company’s digital technology capabilities and scale up production while reducing costs. Enhancing the computing system has helped the company to remain competitive in the intense branded food market.
Kellogg has become a household name by producing the world’s favorite breakfast, Kellogg’s Cornflakes. The packaged food company follows the founders’ vision of providing food that supports sustainable well-being. The American multinational food company produces a wide range of branded food, including cereal, crackers, and other packaged food marketed under the brand names Corn Flakes, Frosted Flakes, Pringles, Cheez-It, and Eggos.
Global packaged food manufacturer Mars Inc has been proudly owned for over 100 years and has been ranked as the 6th largest privately held company in the world by Forbes. Headquartered in McLean, Virginia, the American company today has operations in more than 80 countries around the world. The packaged food company owns brands like Twix, Mars, Extra, Snickers, and pet foods Pedigree and Whiskas.
Mars Inc aims to invest USD 1 billion over the next several years to deliver products and expand its operations to other sectors in the food industry as well. Leveraging and sharing research to create a better world for pets is one of the main tasks on the company’s list.
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