Pune, India, April 11, 2023 (GLOBE NEWSWIRE) -- The global food packaging market is projected to grow from $338.34 billion in 2021 to $478.18 billion in 2028 at a CAGR of 5.1% in forecast period. The growing demand for packaged products due to the shift in evolving lifestyles and eating habits is anticipated to impact the market, says Fortune Business Insights in its report titled, “Food Packaging Market Size, Share, Growth and Forecast 2021-2028”.
The food packaging market has seen significant growth over the years due to the increasing demand for packaged food products. Packaging plays a critical role in protecting food products from damage during transportation and ensuring their safety and freshness. This report aims to provide an analysis of the food packaging market, including market size, trends, and growth opportunities.
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List of Key Market Players in the Food Packaging Report:
- Mondi Group (Austria)
- Amcor plc (Australia)
- Berry Global Inc. (U.S.)
- Stora Enso (Finland)
- Constantia Flexibles (Austria)
- Plastipak (U.S.)
- Tetra Pak International S.A. (Switzerland)
- DS Smith (U.K.)
- Crown Holdings, Inc. (U.S.)
- ExxonMobil Chemical (U.S.)
- Coveris Group (U.K.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast CAGR | 5.1% |
| 2028 Value Projection | USD 478.18 Billion |
| Market Size in 2021 | USD 338.34 Billion |
| Historical Data | 2017-2019 |
| No. of Pages | 150 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Food Packaging Market Growth Drivers | By Market, Paper & Paperboard to Generate the Highest Revenue |
| New Packaging Solutions Strengthen Market Position for Key Players |
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Competitive Landscape:
New Packaging Solutions Strengthen Market Position for Key Players
North America and Europe are the market's two largest producers. Mondi Group, Amcor plc, Berry Global Inc., and Ball Corporation are some of the major market players. Amcor is one of the leading packaging companies in the world, offering a range of packaging solutions for the food and beverage industry. Sealed Air is a global leader in food packaging, offering a range of innovative packaging solutions that improve food safety and extend shelf life. Berry Global is a leading manufacturer of plastic packaging products for the food and beverage industry. Tetra Pak is a leading provider of packaging solutions for the food and beverage industry, with a strong focus on sustainability.
These companies compete based on factors such as product innovation, quality, pricing, sustainability, and distribution channels. In recent years, there has been a growing focus on sustainability, with companies offering a range of eco-friendly packaging solutions to meet the increasing demand for sustainable packaging materials.
Market Trends:
1. Sustainable Packaging Materials: With increasing environmental concerns, there is a growing demand for sustainable packaging materials such as biodegradable plastics, recycled paper, and plant-based materials.
2. Convenience: Consumers are increasingly looking for convenient food packaging solutions such as microwaveable, resealable, and easy-to-open packaging.
3. Branding and Marketing: Food packaging is not only about protecting the product but also about promoting the brand. Companies are investing in innovative packaging designs and materials to differentiate their products from competitors.
4. E-commerce: The growth of e-commerce has led to an increase in demand for packaging materials that can protect products during transportation and withstand the rigors of e-commerce logistics.
Growth Opportunities:
- The demand for sustainable packaging materials is expected to grow significantly in the coming years, providing growth opportunities for companies that offer eco-friendly packaging solutions.
- Consumers are willing to pay a premium for convenience, and companies that offer convenient food packaging solutions are likely to see growth in the market.
- The growth of e-commerce is expected to continue, providing growth opportunities for companies that offer packaging solutions for online sales.
- Emerging markets such as India, China, and Brazil are expected to see significant growth in the food packaging market due to the increasing demand for packaged food products.
Regional Analysis:
The food packaging market is a global market, with significant growth opportunities in various regions. The following are the regional analysis of the food packaging market:
- North America: The North American food packaging market is the largest market in the world, with the United States and Canada being the major markets. The growth of the market is driven by the increasing demand for convenience food products and the growth of e-commerce.
- Europe: Europe is the second-largest food packaging market in the world, with countries such as Germany, France, and the United Kingdom being major markets. Europe held a significant market share and is expected to grow significantly due to increased demand from the food and beverage industry. Growing demands for packaging and processed food, as well as changes in consumer lifestyle, will support regional growth, particularly in Germany, the U.K., and Italy.
- Asia Pacific: The Asia Pacific food packaging market is the fastest-growing market in the world, with countries such as China, India, and Japan being major markets. Asia Pacific will hold the largest share of the global market. Due to rising urban population numbers and retail infrastructure development, this region is expected to stay the largest over the forecast period. The sustainable packaging trend is also gaining traction in the region, with companies offering eco-friendly packaging solutions.
- Latin America: The Latin American food packaging market is a growing market, with countries such as Brazil, Mexico, and Argentina being major markets. Europe held a significant market share and is expected to grow significantly due to increased demand from the food and beverage industry. Growing demands for packaging and processed food, as well as changes in consumer lifestyle, will support regional growth, particularly in Germany, the U.K., and Italy.
- Middle East & Africa: The Middle East & Africa food packaging market is a growing market, with countries such as South Africa, Saudi Arabia, and UAE being major markets. Increasing demand for dairy products and meat, poultry, and seafood is expected to fuel growth in the Middle East & Africa markets.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Trends
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Key developments: Acquisition, Collaboration, Strategic Partnership, and Joint Venture
- Global Food Packaging Industry Analysis, Insights and Forecast – By Material, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Material
- Glass
- Metals
- Paper & Paperboard
- Wood
- Plastics
- Global Food Packaging Market Analysis, Insights and Forecast – By Product Type, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Rigid
- Semi-Rigid
- Flexible
- Global Food Packaging Market Analysis, Insights and Forecast – By Application, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Application
- Fruits & Vegetables
- Bakery & Confectionery
- Dairy Products
- Meat, Poultry & Seafood
- Sauces, Dressings and Condiments
- Others
- Global Food Packaging Industry Analysis, Insights and Forecast – By Region, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued...!
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