Global Food Packaging Market size is anticipated to reach USD 411.3 billion by 2025. Food packaging is a method to protect food from contamination & damage enhance the shelf life of a food product. Packaging food is a combination of science, art and technology that is used in the transportation and selling of foods. The primary role of food packaging is to protect food from the external factors& damage and provide information regarding food ingredients and nutrition to the consumers. The food packaging market is expected to register a CAGR of 5.1% over the forecast period as the scope, product types, and its applications are increasing across the world.
The factors that play an important role in the growth of food packaging industry include increasing demand for processed food, increasing urbanization, rising disposable income, and stringent government rules & regulations regarding food safety. Moreover, improving shelf life of food products, changing lifestyle & eating habits, and crisp marketing by key manufactures are the factors which are expected to boost the growth of the market in the years to come. However, fluctuating prices of raw materials and side effects of packaging food on health are negatively affecting the growth of market. The food packaging industry is widely analyzed based on different regional factors such as gross domestic product (GDP), demographics, acceptance, inflation rate, and others. The market is categorized based on type, material, application and geography.
Types that could be explored in food packaging market comprise rigid packaging, flexible packaging, semi-rigid packaging, and others. Flexible food packaging is expected to hold the largest market share in the forthcoming period due to its ability to form lighter, thinner, and compact packing. Also, shifting demand from rigid to flexible packing solution, technological innovations in product development, increasing trend of smaller packaging and cost-effective material are likely to boost the demand for flexible packaging during the projected period.
Applications such as dairy product, bakery & confectionary, meat & seafood, fruits & vegetables, sauces & dressing, and others may be explored in food packaging industry in the future period. Bakery & confectionery is expected to be the largest application due to growing demand for candies, cakes and frozen ready-to-eat bakery products. Food packaging may be explored by material such as plastics, cardboard, aluminum, metal, glass and others. Plastic packaging is expected to hold the highest market share during the forecast period due to its superior properties.
Asia Pacific is projected to be the highest market followed by North America and Europe. The increasing population in urban areas, rising per capita income, and growing demand for healthy food products in developing countries such as India & China are major factors driving the growth of the market in Asia Pacific region. The food packaging market in China is projected to grow at a significant CAGR owing to its large population and their rising purchasing power.
The key players operating in the food packaging industry are Amcor Ltd., Georgia Pacific Corporation, Bemis Company Inc., Ball Corporation, Crown Holdings Inc., International Paper Company, Sealed Air Corporation, WestRock Company, Berry Plastics, CM Packaging, Mondi Plc, RockTenn Company, Coveris Holdings S.A., D.S. Smith Plc., Tetra Park International, Owens Illinois and DS Smith PLC. Also, these players are concentrating on new joint ventures, collaborations, agreements, and strategies to improve their production facilities and gain a larger share in the market.
Food Packaging Type Outlook (Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)
Food Packaging Material Outlook (Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)
• Paper & Paperboard
Food Packaging Application Outlook (Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)
• Bakery & Confectionary
• Dairy Product
• Fruits & Vegetables
• Meat & Seafood
• Sauces & Dressing
Food Packaging Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
Research Support Specialist, USA