The U.S. microwaveable packaging market is expected to hit $2 billion by 2016, reflecting revenue growth of 9.4% per year during the next five years, according to a new study from Allied Development, Burnsville, Minn. One factor driving market growth is the rapid adoption of microwaveable packaging within food product categories that require increased packaging functionality.
Hormel Foods is buying Skippy, the country's number two peanut butter brand, from Unilever for about $700 million. Skippy debuted on the market in 1932 and is a staple in American pantries. Hormel says it hopes the brand will boost its presence in the center aisles of the supermarket, where shelf-stable foods are sold. It also gives the company a clearer path for growth overseas, where Hormel is also looking to expand its Spam line, reports The Associated Press.
That’s what one graphic designer feels a brand should be: Packaging design should give personality and flair to its product, especially in a crowded marketplace. Communicating brand benefits is the top priority for packaging, says Mark Salisbury, director of graphic design agency Solid Block.