Farmington, March 29, 2023 (GLOBE NEWSWIRE) -- The Global Food Packaging Market Was Valued At USD 346.5 Billion In 2022 And Is Expected To Expand USD 468.18 Billion By 2030 at a CAGR Of 5.5% From 2022 To 2030. The market for food packaging encompasses a wide variety of different packaging materials, including plastics, metals, paper and board, glass, and others. Due to the fact that it is lightweight, long-lasting, and relatively inexpensive, plastic packaging currently retains the biggest market share. In addition, there has been an increase in demand for plastic packaging due to the growing popularity of ready-to-eat meals and foods that can be prepared quickly.
The Asia-Pacific region is the most important player in the global food packaging market. This region accounts for the biggest share of the market both in terms of value and volume. The increasing population, higher levels of discretionary money, and shifting consumer lifestyles are all factors that are contributing to the expansion of the food packaging industry in this region.
Amcor Limited, Ball Corporation, Crown Holdings Inc., Mondi Group, Sealed Air Corporation, and Tetra Pak International S.A. are among the companies that are considered to be the most important competitors in the global market for food packaging. These businesses are implementing a variety of methods, including mergers and acquisitions, the introduction of new products, and collaborations, in order to broaden their market share and increase the number of customers they serve.
Request Sample Copy of Report “Food Packaging Market Size, Share & Trends Estimation Report By Type Outlook (Rigid, Semi-rigid & Flexible) By Material Type (Paper & Paper-based, Plastic, Metal, Glass & Others) By Application Outlook (Bakery & Confectionery, Dairy Products, Fruits &Vegetables, Meat, Poultry, & Seafood, Sauces & Dressings & Others) By Region, And Segment Forecasts, 2023 - 2030”, published by Contrive Datum Insights.
Segmentation Overview:
Material Insights:
Plastic is by far the most popular material for use in the food packaging industry as a result of its adaptability, durability, and relatively low price. A wide range of food items, such as beverages, snacks, and baked goods, are typically packaged in plastic. On the other hand, there is a growing concern about the impact that waste plastic has on the environment, which has led to a shift toward alternatives that are sustainable and favourable to the environment.
Paper and paperboard, biodegradable plastics, and compostable materials are likely to see significant expansion in the food packaging market as a result of rising demand for sustainable and environmentally friendly packaging solutions. Nonetheless, due to its low cost and versatility, plastic is anticipated to continue to be the predominant material. Despite this, there is likely to be more pressure placed on businesses to develop materials that are more environmentally friendly.
End User Insights:
Drinks such as water, soft drinks, juices, and alcoholic drinks need to be packaged in containers that are strong enough to withstand the liquid contents and keep the beverages free from contamination. Bottles made of plastic, cans made of metal, and bottles made of glass are the most common types of containers used for the packaging of beverages. Packaging that can maintain the products' flavor and freshness is necessary in the bakery and confectionary industries. These industries produce baked goods and candy, respectively. Paperboard boxes, plastic bags, and metal tins are all examples of common types of packaging materials used for products sold in bakeries and candy stores.
Packaging that is able to keep the products' freshness and quality while also protecting them from infection is necessary in the industries that deal with meat, poultry, and seafood. Boxes made of paperboard, trays covered in plastic film, and vacuum-sealed plastic containers are some of the common types of packaging used for meat, poultry, and seafood. The markets for pet food, frozen foods, and ready-to-eat meals are three more end-use categories that are served by the food packaging industry.
It is anticipated that the desire for convenient and portable packaging solutions will be the primary driver of growth in the ready-to-eat food and beverage markets, respectively. It is anticipated that the demand for sustainable and environmentally friendly packaging solutions will drive growth across all segments, notably in the segments representing fruits and vegetables, as well as the baking and confectionery industries. In addition, there is anticipated to be an increase in demand for packaging that can safeguard products while they are being transported and delivered as a direct result of the rising prevalence of online shopping, particularly for groceries.
Regional Outlook:
The increasing demand for convenient and portable food products is the primary factor driving growth in the food packaging industry in North America. The demand for sustainable and environmentally friendly packaging solutions, in particular in North America countries such as the United States and Canada, is another factor driving the market.
The rising demand for packaged food products across Latin America, and particularly in Brazil and Mexico, is the primary factor propelling growth in the food packaging industry. The rising emphasis on environmentally responsible and sustainable packaging solutions is another factor driving the market. The rising demand for food products that are already packaged is the primary factor propelling growth in the food packaging industry across the Middle East and Africa, notably in countries such as Saudi Arabia and South Africa. The rising emphasis on environmentally responsible and sustainable packaging solutions is another factor driving the market.
Even though the adoption of these solutions may vary based on local restrictions and customer preferences, it is anticipated that the desire for sustainable and environmentally friendly packaging solutions will drive growth in all countries. This demand is likely to drive growth in all regions. In addition, the expansion of e-commerce and online grocery shopping is anticipated to stimulate need for packaging that can preserve products while they are being sent and delivered, in particular in areas where there is a significant volume of online shopping.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 5.5% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 468.18 Billion |
| By Type | Rigid, Semi-rigid, Flexible, Others |
| By Material | Paper & Paper-based, Plastic, Metal, Glass, Others |
| By End-use | Bakery & Confectionery, Dairy Products, Fruits &Vegetables, Meat, Poultry, & Seafood, Sauces & Dressings, Others |
| By Companies | Amcor plc, Sealed Air, Sonoco Products Company, Berry Global, Inc., WestRock Company, Mondi, Genpak LLC, Pactiv LLC, Chantler Packages, WINPAK LTD., Alpha Packaging, BE Packaging, Cheer Pack North America, Evanesce Packaging Solutions Inc., Pacmoore Products Inc., Innovative Fiber, Emmerson Packaging, PakTech, Tradepak, ProAmpac |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Restraining Factors:
Increasing raw material costs: There has been an increase in the price of raw materials like plastic, paper, and metal that are used in food packaging, which might lead to an increase in the price of food packaging itself. This can make it more difficult for businesses, particularly those that are small and medium-sized, to embrace new methods of food packaging.
Competition from alternative packaging solutions: There is a rise in the use of alternative packaging options, such as reusable and biodegradable containers, which is creating more competition. Consumers who are looking for environmentally friendly alternatives to conventional packaging solutions are increasingly turning to these options, which are gaining popularity.
COVID-19 pandemic: The COVID-19 pandemic has caused substantial disruptions in supply chains, changes in consumer behavior, and swings in demand, all of which have had a considerable influence on the market for food packaging. Because of this, there is now uncertainty in the market, which has the potential to slow growth in the short term.
Opportunity Analysis:
Digital printing: The use of digital printing technology in the packaging of food can help businesses cut costs, increase the efficiency of manufacturing, and tailor the designs of their packaging to better satisfy the preferences of individual customers.
Emerging markets: Food packaging businesses have a tremendous opportunity for expansion in the world's emerging markets, particularly in Asia-Pacific and Latin American countries. Demand for food packaging solutions may be pushed higher in these areas by factors such as expanding urbanization and disposable income levels, as well as shifting customer tastes.
Health and wellness: Companies now have a chance to design packaging solutions that respond to the growing demand for healthier food options and natural ingredients. This opportunity presents itself in the form of a growing demand. Consumers who are concerned about their health may be more likely to purchase products with packaging that not only maintains the food's freshness and nutritional content but also provides information about the product's components and potential advantages.
Key Segments Covered:
Top Market Players:
Amcor plc, Sealed Air, Sonoco Products Company, Berry Global, Inc., WestRock Company, Mondi, Genpak LLC, Pactiv LLC, Chantler Packages, WINPAK LTD., Alpha Packaging, BE Packaging, Cheer Pack North America, Evanesce Packaging Solutions Inc., Pacmoore Products Inc., Innovative Fiber, Emmerson Packaging, PakTech, Tradepak, ProAmpac, and others.
By Type
- Rigid
- Semi-rigid
- Flexibl
- Others
By Material
- Paper & Paper-based
- Plastic
- Metal
- Glass
- Others
By End-use
- Bakery & Confectionery
- Dairy Products
- Fruits &Vegetables
- Meat, Poultry, & Seafood
- Sauces & Dressings
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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