The global Food Packaging Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
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.
Key Players:
- Amcor
- Bemis Company Inc.
- Berry Plastics Group
- Sigma Plastics Group
- American Eagle Packaging
- Sealed Air Corporation
- Ball Corporation
- Silgan Holdings, Inc.
- Crown Holdings, Inc.
- Ardagh Group
- The Dow Chemical
- Exxon Mobil Chemical
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Growth Drivers:
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.
Type Outlook:
- Rigid
- Semi-rigid
- Flexible
Material Outlook:
- Paper & Paperboard
- Plastics
- Metal
- Glass
Application Outlook:
- Bakery & Confectionary
- Dairy Product
- Fruits & Vegetables
- Meat & Seafood
- Sauces & Dressing
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.
Regional Outlook:
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.
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