Market Overview:
Food Packaging Market Size Was Valued at USD 91.69 Billion in 2022, and is Projected to Reach USD 203.51 Billion by 2030, Growing at a CAGR of 10.48 % From 2023-2030.
Food packaging is a packaging system specifically designed for food and represents one of the most important aspects of the processes involved in the food industry, as it provides protection from chemical, biological, and physical alterations. Products like cans, bottles, jars, ampules, plastic pots, aerosol containers, and others are included in the food packaging service to store food goods for a long time. It helps keep food fresh by defending against contamination brought on by bacteria, organisms, air, and moisture. It is crucial for maintaining food safety throughout supply and transportation. Also, it keeps the food's quality high. Food packaging gives service suppliers a marketing platform and raises consumer satisfaction levels.
Top Key Players Covered In The Food Packaging Market:
- Amcor Ltd. (Australia)
- Rock-Tenn Company (U.S.)
- Sealed Air Corp. (U.S.)
- Nuconic Packaging LLC (U.S.)
- Tetra Pak International S.A. (Switzerland)
- Crown Holdings Inc. (U.S.)
- Ball Corporation (US)
- Berry Global Inc (US)
- DS Smith PLC (UK)
- Genpak LLC (US)
- HuhtamAki Oyj (Finland)
- Reynolds Group Holdings Limited (New Zealand) and other major players.
Market Dynamics and Factors:
Increasing Demand for Ready-To-Cook and Ready-To-Eat Food Products from the Consumers. The sector is expected to grow as a result of consumers' changing eating patterns and increased demand for convenience foods. The major growth driver for the food packaging sector is the increased consumption of processed and ready-to-eat food, owing to consumers' busy lifestyles and changing culinary tastes, as well as the global population expansion. The market is comprehensively evaluated in the study on the global food packaging market.
One of the main drivers of the food packaging industry is the trend toward clean rooms and hygienic packaging for consumable goods. Using technologically advanced packaging forms like modified atmospheric packaging (MAP) and vacuum atmospheric packaging, manufacturers are taking extra steps to safeguard the quality and shelf life of food goods (VAP). Interactive food packaging is becoming more popular with people who are concerned about their health. All of these distinct qualities contribute to the market's rapid growth during the forecast period.
Food Packaging Market Report Highlight:
- By Type, the Rigid segment is anticipated to lead the growth of the Food Packaging market in the forecasted timeframe. Due to its attributes, such as a strong barrier to light, moisture, and oxygen, which prevents food contamination, rigid packaging is widely used. due to the growing demand from consumers for packaged foods that are convenient and nutritious. Semi-rigid packaging is used for bakery, confectionery, fresh sandwich packs, and dairy products. Consequently, the need for semi-rigid food packaging is projected to increase over the coming years due to the increased consumption of milk and dairy goods, as well as bread and confectionary items.
- By Material, the plastic packing segment is expected to have the highest share of the Food Packaging market over the projected period. Paper packaging has a competitive edge over plastic and metal packaging due to design innovations, printability, and sustainability. Because of its low cost, end users are projected to adopt plastic food packaging at a quick rate.
- By Application, the fruits and vegetable segment are set to develop at the highest CAGR during the forecasted timeframe. Online delivery of vegetables and fruit is growing very fast, that’s the reason the segment is anticipated to be driven during the forecast period,
- The Asia Pacific region is expected to have the highest share of the Food Packaging market over the projected period. The presence of the prominent key players, as well as an increase in population in India and China, are the main factors driving the development of the market in this region.
Key Industry Development:
- In May 2023, Mondi's Advantage StretchWrap, this paper-based solution replaces plastic stretch film for pallet wrapping, offering a sustainable alternative with comparable performance.
- In May 2023, Detpak's Vanguard Line, Australia's first compostable, No-Added PFAS sugarcane plates, bowls, and containers address both environmental concerns and consumer demand for eco-friendly packaging.
- In May 2023, Emerald Packaging & D'Arrigo California's Post-Consumer Recycled (PCR) Plastic Packaging. This collaboration introduces sustainable packaging for produce, utilizing recycled plastic to minimize environmental impact.
Food Packaging Market Segmentation:
By Type
- Rigid
- Semi-rigid
- Flexible
By Material
- Plastic
- Metal
- Aluminium
- Paperboard
- Molded Fiber
- Others
By Application
- Bakery & Confectioner
- Convenience foods
- Dairy products
- Fruits & vegetables
- Sauces
- Others
For this report, Introspective Market Research has segmented the Food Packaging Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
