Dallas, Texas, Oct. 28, 2022 (GLOBE NEWSWIRE) -- Food packaging refers to the method of bagging or sealing food goods for transport, storage, sale, and consumption. It aids in preserving food, extending its shelf life, and lowering waste and spoilage. Flexible, semi-rigid and rigid materials can all be used to package food in a range of ways. Containers constructed of materials such as glass, metal, and paperboard are examples of rigid packaging. Flexible packaging includes bags, pouches, wraps, and sachets constructed of foil and plastic film. Trays and lidded cartons constructed of plastic or paperboard are examples of semi-rigid packaging.
The market for food packaging is propelled by the expanding need for practical and environmentally friendly food packaging solutions around the world. Other factors influencing the market include the expansion of the e-commerce sector and consumers' shifting lifestyles. This industry is expected to increase as a result of rising disposable incomes as well as rising health and wellness consciousness.
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Food Packaging Market Players Analysis
- Signals and Systems India Pvt Ltd Overview
- Products Portfolio
- Recent Initiatives
- Company Financials
- FOOD PACKAGING TECHNOLOGY
- Manutech Europe
- SENECA
- HEYI
- Keysight
- Magnelab
- Automatic Mess und Steuerungstechnik GmbH
- Axis
- WAGO Kontakttechnik GmbH&Co.KG
- MBS AG
- AGW Electronics Ltd.
- Zappar
- Dahms GmbH
The market for food packaging is anticipated to increase by USD 437.86 billion by 2029, at a CAGR of 5.3% over the forecast period, from USD 248.27 billion in 2019. This industry is expanding as a result of the increased global demand for practical and environmentally friendly food packaging options.
The major market participants in the food packaging industry are concentrating on growing their companies through a variety of expansion tactics, including mergers and acquisitions, the creation of new products, and expansions. Further, these businesses are spending money on R&D to produce new products and meet consumer demand.
Food Packaging Market Material Analysis
- Paper and Board
- Plastic
- Glass
- Metal
Food Packaging Market Packaging Analysis
- Rigid
- Semi-Rigid
- Flexible
Food Packaging Market Equipment’s Analysis
- Bottling Line
- Cartoning
- Case Handling
- Closing
- Filling and Dosing
- Form
- Seal and Segment
- Labelling
- Decorating and Coding
- Pelletizing
- Wrapping and Buddling
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In the forecasted period, rigid packaging is anticipated to hold the biggest market share for food packaging. This industry's expansion can be linked to the increase in rigid packaging needs from the food and beverage sector. In 2019, it's anticipated that plastic will hold the biggest market share for food packaging. The excellent qualities of plastic, such as its low weight, flexibility, and durability, can be used to explain the expansion of this market. Furthermore, plastic packaging options are less expensive than those made of glass and metal.
It is predicted that the bakery & confectionery sector will hold the largest market share for food packaging over the planning horizon. The rising popularity of packaged bakery goods including cakes, pastries, and biscuits is responsible for this sector's expansion. Due to the expanding population and increasing discretionary income in the region, Asia Pacific is anticipated to hold the greatest market share for food packaging during the anticipated period.
Food Packaging Market Application Analysis
- Dairy
- Bakery
- Confectionary
- Connivence Foods
- Vegetables
- Fruits
- Sauces
- Dressings
Food Packaging Market Distribution Channel Analysis
- Offline
- Online
The Siegfried Group Ltd. sold Aclar Technologies LLC to Bemis Company, Inc. in March 2019. This acquisition aided Bemis Company in strengthening its position in the food packaging industry and diversifying its line of products.
A South African manufacturer of flexible packaging solutions, Polystar Packaging, was purchased by Mondi plc in May 2019. This acquisition aided Mondi in growing its clientele on the continent of Africa.
Graham Packaging Company Inc., a top supplier of rigid plastic containers for food and beverage applications, was purchased by Reynolds Group Holdings Limited in September 2019. Through this acquisition, Reynolds Group was able to solidify its position in the rigid plastic packaging industry.
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