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Global Food Packaging Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report – Segmented By Materials (Glass, Metal, Paper & Paperboard, Wood and Plastics), Product (Rigid, Semi-Rigid and Flexible), Application (Fruits & Vegetables, Bakery & Confectionery, Dairy Products, Meat, Poultry & Seafood, Sauces, Dressings and Condiments and Others) and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Industry Analysis (2024 to 2029)

Published: March, 2023
ID: 2755
Pages: 170
Formats: report pdf report excel report power bi report ppt

Global Food Packaging Market Size (2024 to 2029)

The size of the global food packaging market was worth USD 415.64 billion in 2023. The global market is anticipated to grow at a CAGR of 5.6% from 2024 to 2029 and be worth USD 576.37 billion by 2029 from USD 438.9 billion in 2024.

Food Packaging is the bundling of food for security from harm, sullying, decay, bug assaults, and altering during transport, stockpiling, and local dealers. Bundling types incorporate jugs, sacks, plates, jars, and containers. Packaged food is utilized for different purposes, such as boundary and sullying security, accommodation, and bit control. Manageable packaging tends to reduce food waste and misfortune and decreases well-being issues by forestalling nourishment-borne ailments and substance pollution and protecting food quality. Food packaging is produced using different materials that explicitly don't respond with the food and drinks put away inside, in this manner giving excellent quality items and a timeframe of realistic usability. There is a developing interest in typical high-quality food, which is insignificantly processed or non-prepared, doesn't contain additives, and offers a longer shelf-life. Food packaging is utilized for different applications, such as bundling natural products and vegetables, dairy items, meat, poultry and fish, sauces, dressings, and toppings.

Comfort food is significantly utilized because of its simple versatility, the extended timeframe of realistic usability, and ease of making. These food items comprise snacks, frozen food, finger food, candy, drinks, and others. These items, as a rule, require less planning time and are served hot in prepared-to-eat holders. Rising interest in ready-to-eat snacks alongside a stationary way of life will cultivate accommodation food market development. Moreover, rising per capita discretionary cash flow with expanding working populace are the key variables driving this present market's interest. Most shoppers exchange for palatable nourishment promptly, which will prompt the growth of the global food packaging market.

These days, because of the quick-moving way of life of shoppers, there has been expanding interest in fast food items. This popularity has caused comfort food creators to concoct items containing better health benefits and with less unsafe impacts on the body. This popularity for comfort foods is straightforwardly expanding the interest in food packaging, hence supporting the development of this market. To achieve manageability, there has been an expanding utilization of green packaging arrangements. They help diminish natural contamination and offer a wide assortment of advantages that incorporate a decrease in plastic use, expanding reusing, vitality protection, and productive vehicles, prompting an upsurge in business development.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

CAGR

5.6%

Segments Covered

By Materials, Product, Application and Region

Various Analyses Covered

Global, Regional, & Country Level Analysis; Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Mondi Group, Crown Holdings Inc, DS Smith Plc, Amcor plc, Berry Global Inc, Orora Ltd, Owens-Illinois Inc, Ardagh Group S.A, Ball Corporation, CPMC Holdings Ltd, International Paper Co, Sealed Air Corp and Others.

 

This research report on the global food packaging market has been segmented and sub-segmented based on product, material, application and region.

Global Food Packaging Market - By Material:

  • Glass
  • Metal
  • Paper & Paperboard
  • Wood
  • Plastics
    • Polypropylene,
    • Polyethylene
    • PET
    • Others

Based on material, the Paper & Paperboard segment to anticipated to account for the largest share of the global market during the forecast period. Increasing adoption of paper in food packaging of various edible foods, fresh vegetables, and beverages is the primary factor driving the demand in this business. Glass bottles are usually used for storage and packaging of food products for an extended period or reusable items. However, plastic in food packaging is considered a feasible option as it is flexible, lightweight, cost-effective, does not cause splintering, and protects food from damage.

Global Food Packaging Market - By Product:

  • Rigid
  • Semi-Rigid
  • Flexible

Based on the product, the rigid packaging segment is likely to dominate the worldwide market during the forecast period. Rigid packaging accounted for the most substantial market portion due to its increased usage in vegetables, fruits, and other easily crushable food products. Semi-rigid packaging comprises plastics and cardboard, which is majorly used to protect food products from humid, rot, and harsh environments. In addition, flexible packaging is gaining more prominence demand due to increasing technological advancements and the launch of an innovative solution for product packaging.

Global Food Packaging Market - By Application:

  • Fruits & Vegetables
  • Bakery & Confectionery
  • Dairy Products
  • Meat
  • Poultry & Seafood
  • Sauces
  • Dressings and Condiments
  • Others

Based on application, the bakery & confectionery segment is estimated to exhibit a notable CAGR during the forecast period. The food packaging industry is witnessing massive demand with the unique and attractive packaging launched recently for a different type of products. Fruits and vegetables have perishable properties and spoil when coming in contact with moisture and, therefore, require flexible packaging. Growth in the meat, poultry & seafood sectors can be linked to the augmenting demand for these products from consumers around the world. Sauces and dressings are often available in rigid packaging as they are non-perishable.

Global Food Packaging Market - By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Of these, the Asia Pacific food packaging market registered the highest share in 2023 and is likely to continue its demand in the foreseen years. The increasing population in nations like China, India, etc., is creating a massive demand for food products, which is supporting the growth in the packaging sector. The rise in consumer disposable income along with the increase in the middle-class section is accelerating the demand for the food packaging sector. Major players of the global food packaging market are present in North America and Europe.

KEY MARKET PLAYERS:

Mondi Group, Crown Holdings Inc, DS Smith Plc, Amcor plc, Berry Global Inc, Orora Ltd, Owens-Illinois Inc, Ardagh Group S.A, Ball Corporation, CPMC Holdings Ltd, International Paper Co and Sealed Air Corp are playing a significant role in the global food packaging market.

RECENT HAPPENINGS IN THIS MARKET:

  • In June 2019, Mondi Group built up a fully recyclable polypropylene for thermoforming applications that will lessen carbon impression by 23% for packaging. This item holds all the usefulness and offers fantastic optical and gas obstruction properties that expand the timeframe of the realistic usability of stuffed food items.
  • In August 2019, Amcor planned lightweight PET jugs for the purified brew in Brazil. These PET compartments are a trade for glass that withstands high-heat conditions and inward weight during the sanitization process. This packaging permits the organization to build up a superior swap for glass which will convey to an expansive scope of customers all through Latin America.
  • In October 2019, Ball Corporation constructed another assembling plant of aluminum cups in Georgia with a speculation of USD 200 million. This plant will serve the developing interest of U.S. clients and customers for maintainable drink packaging.

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FAQ's

What can be the size of the global Food Packaging market by 2028?

By 2028, it is predicted that the global Food Packaging market can reach a valuation of US$ 606.3 billion.

What can be the compound annual growth rate of the global Food Packaging market?

The global Food Packaging market can expand with a CAGR of 5.6% during the forecast period.

Mention the major key players in the global Food Packaging market?

Mondi Group, Crown Holdings Inc, DS Smith Plc, Amcor plc, Berry Global Inc, Orora Ltd, Owens-Illinois Inc, Ardagh Group S.A, Ball Corporation, CPMC Holdings Ltd, International Paper Co, Sealed Air Corp and Others.

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