Pune, March 08, 2021 (GLOBE NEWSWIRE) -- Global Snack Food Packaging Market Overview
Snack food packaging comprises various methods to keep snacks fresh and easy to consume. Snack food producers are looking at various options ranging from cardboard tubes to flexible pouches. The global snack food packaging market is anticipated to register 5.5% CAGR over the forecast period (2019-2025), according to Market Research Future (MRFR). It stood at USD 37 billion in 2018.
The global market is set to garner huge demand over the forecast period owing to consumption of snacks and edibles. Adoption of healthy lifestyles by the masses and emergence of retail stores in urban areas can drive the market growth. Product appeal, awareness of nutritional value, variety in products, and aging population are other factors driving market growth. High production of sustainable packaging and user convenience for handling small packages can augur favorably for snack food packaging market growth. Bags and pouches are integrating modified atmosphere packaging (MAP) for extending the shelf life of products. Consumer packaged goods are increasingly adopting new approaches to increase chemical resistance and mechanical strength of packages.
But strict regulations pertaining to use of plastics in the packaging process can hamper market growth.
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COVID-19 Impact:
The COVID-19 pandemic had affected the production chains of snack food manufacturers owing to misconceptions of the transference of the virus through food. Reports by the International Commission on Microbiological Specifications for Foods (ICMSF) have concluded reports on supporting this theory. But snack food packaging manufacturers are adopting stringent measures for preserving foods and drinks to prevent bacterial growth and illnesses. Change in eating habits of customers has been noted by manufacturers and reflected in new packages.
Industry Trends:
Digital printing is bound to gain prominence in the global snack food packaging market. Packaging design is of prime importance and plays a key role in attracting customers. It has advantages over offset printing and being noticed by brands to be used in small stock keeping units (SKUs). Digital printed labels that contain product information and the design of the brand are in high demand due to their sustainable nature and customizations available for snack food companies.
Trade dress is gaining recognition in protecting the intellectual property of companies creating brands. Digital printing can play a huge role in differentiating the distinct identities of companies and prevent litigation. The increased capacity of digital printers can lead to breakthroughs in innovation.
Segmentation:
Based on the packaging type, the global market has been divided into rigid packaging and flexible packaging. The flexible packaging segment held the largest market share of the global snack food packaging market in 2018 and is expected to grow at the highest CAGR during the forecast period. Flexible pouches are single use containers that are used in packing fruit drinks and eatables. Resealable nature of these packs and its sustainability with respect to current business standards can drive the segment demand.
Based on material, the global snack food packaging market has been segmented into metal, plastic, paper, and others. The plastic segment is further segmented into Bopp, polyester, polypropylene, polyethylene, LLDPE, and others. The plastic segment held the largest market share of the global snack food packaging market in 2018 and is poised to witness the highest growth rate during the forecast period. Plastic is used in rigid containers and comes readily in various shapes and sizes. The extra protection accorded to the content in plastic containers against tampering and contamination can drive the segment demand.
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By application, the global market has been segmented into savory snacks, bakery snacks, nuts & dried fruits, candy & confections, and others. The savory snacks segment held the largest market share of the global snack food packaging market. This is attributed to consumer awareness of benefits of dried fruits, nutritional bars, and nuts. Indication of healthy eating owing to design of small pouches for fruits and nuts can drive the segment growth.
Regional Segmentation:
The snack food packaging market covers regions of North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
APAC held the dominant position in the market in 2018 and touted to rule over the forecast period. High consumption rate of snacks in developing regions of Malaysia, Indonesia, China, and India is expected to bode well for the global market. The need for comfort foods during stressed times can work in favor of the global snack food packaging market. The COVID-19 pandemic has driven the surge of single-serve foods as well as renewed packaging to assure the safety of foods.
North America is likely to accrue huge market demand over the assessment period. This is attributed to the presence of major food manufacturers in the region and consumption by the populace. Moreover, change in consumer attitudes, adoption of healthy lifestyles, and new dietary guidelines can drive the demand for better packaging for products. Dairy products featuring nuts, cheese, and meat are witnessing huge demand.
Competitive Analysis:
The snack food packaging market is driven by alliances, expansion, collaboration, mergers, and acquisitions.
Key players involved in the market are Swiss Pack Private Limited, Sealed Air Corporation, Sonoco Products, Graham Packaging Holdings, Bryce Corporation, ProAmpac, Modern-Pak Pte Ltd, American Packaging, Amcor, Bemis Company, Huhtamaki Global, and Clondalkin Group.
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Industry News
J&J Snacks Foods have started to offer self-serve offerings for their pretzels for customers commuting to office during the pandemic. The pretzels can be consumed with various dips and sauces and can be warmed from the store for the convenience of customers. Retailers are providing customized packages for their regular customers to ensure their safety.
Consumption of Baked Foods to Drive Global Snack Food Packaging Market
The global snack food packaging market is deemed to expand owing to the consumption of snacks by people globally. The fight for shelf space at retail outlets and awareness of consumption of healthy edibles can drive the market demand significantly. Emergence of various franchises focusing on food and adoption of convenience foods by families can induce market demand. Online stores are offering another outlet for sales of products, with consumers shopping on ecommerce portals.
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