PUNE, India, April 11, 2023 (GLOBE NEWSWIRE) — Worldwide Food packaging market It is projected to grow from $338.34 billion in 2021 $478.18 billion One in 2028 CAGR of 5.1% During the forecast period. Growing demand for packaged products due to evolving lifestyles and changes in eating habits is expected to influence the market, Fortune Business Insights said in its report titled, “Food Packaging Market Size, Share, Growth and Forecast 2021-2028“.
The food packaging market has witnessed significant growth over the years due to the increasing demand for packaged food products. Packaging plays an important 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 Major Market Players in Food Packaging Report:
- Mondi Group (Austria)
- Amcor plc (Australia)
- Berry Global Inc. (US)
- Stora Enso (Finland)
- Constantia Flexibles (Austria)
- Plastipak (USA)
- Tetra Pak International SA (Switzerland)
- DS Smith (UK)
- Crown Holdings, Inc. (US)
- ExxonMobil Chemical (US)
- Coveris Group (UK)
Report Scope and Segmentation:
| Report coverage | Details |
| Forecast period | 2021-2028 |
| CAGR forecast | 5.1% |
| 2028 price projection | USD 478.18 billion |
| Market size in 2021 | USD 338.34 billion |
| Historical data | 2017-2019 |
| Number of pages | 150 |
| Report coverage | Revenue forecasts, company profiles, competitive landscape, growth factors and latest trends |
| Sections covered |
|
| Areas covered |
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| Food Packaging Market Growth Drivers | To generate the highest revenue by market, paper and paperboard |
| New packaging solutions strengthen the market position for key players |
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Competitive Landscape:
New packaging solutions strengthen the market position for key players
North America and Europe are the two largest producers in the market. Mondi Group, Amcor plc, Berry Global Inc., and Ball Corporation are the major market players. Amcor is one of the world’s leading packaging companies, offering a range of packaging solutions for the food and beverage industry. Air Sealed 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, consistency, and distribution channels. In recent years, there has been an increasing focus on sustainability, with companies offering a range of eco-friendly packaging solutions to meet the growing demand for sustainable packaging materials.
Market Trends:
1. Sustainable packaging materials: With growing 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, reusable, and easy-to-open packaging.
3. Branding and Marketing: Food packaging is not only the protection of the product, but also the promotion of the brand. Companies are investing in innovative packaging designs and materials to differentiate their products from competitors.
4. Ecommerce: The growth of e-commerce has increased the demand for packaging materials that can protect products during transportation and withstand the rigors of e-commerce logistics.
Development Opportunities:
- The demand for sustainable packaging materials is expected to increase significantly in the coming years, providing growth opportunities for companies offering 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.
- E-commerce is expected to continue to grow, providing growth opportunities for companies offering packaging solutions for online sales.
- Emerging markets such as India, China, and Brazil are expected to drive significant growth in the food packaging market due to increasing demand for packaged food products.
Regional Analysis:
The food packaging market is a global market, with significant growth opportunities in various sectors. Following is 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 leading markets. The growth of the market is facilitated by the increasing demand for 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 the leading markets. Europe holds a significant market share and is expected to witness significant growth due to increased demand from the food and beverage industry. Growing demand for packaging and processed foods, as well as changes in consumer lifestyles, will support regional growth, particularly in Germany, the UK 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 the leading markets. Asia Pacific will hold the largest share of the global market. Due to growing urban population and retail infrastructure development, this sector is expected to remain the largest during the forecast period. The sustainable packaging trend is also gaining traction in the sector, 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 the major markets. Europe holds a significant market share and is expected to witness significant growth due to increased demand from the food and beverage industry. Growing demand for packaging and processed foods, as well as changes in consumer lifestyles, will support regional growth, particularly in Germany, the UK and Italy.
- Middle East and Africa: The Middle East and Africa food packaging market is a growing market, with countries such as South Africa, Saudi Arabia, and UAE being the major markets. Growing demand for dairy products and meat, poultry, and seafood is expected to drive growth in the Middle East and Africa markets.
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Detailed table of contents:
- introduction
- Research field
- market segmentation
- Research methodology
- Definitions and assumptions
- Executive summary
- Market dynamics
- Market drivers
- Market restrictions
- Market opportunities
- Key insights
- Major trends
- Latest technological advances
- Insights into the regulatory landscape
- Porter’s five forces analysis
- Major developments: acquisitions, collaborations, strategic partnerships, and joint ventures
- Global Food Packaging Industry Analysis, Insights and Forecast – By Material, 2017-2028
- Key Findings / Summary
- Market analysis, insights and forecasts – by content
- the glass
- Metals
- Paper and paperboard
- wood
- Plastic
- Global Food Packaging Market Analysis, Insights and Forecast – By Product Type, 2017-2028
- Key Findings / Summary
- Market analysis, insights and forecasts – by product type
- Global Food Packaging Market Analysis, Insights and Forecast – By Application, 2017-2028
- Key Findings / Summary
- Market analysis, insight and forecasting – by application
- Fruits and vegetables
- Bakery and Confectionery
- Dairy – Production
- Meat, poultry and 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 forecasts – by region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
TOC continues…!
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