Food Packaging Industry Data Book Covers Flexible Food Packaging, Fresh Food Packaging, Food Container, and Micro-perforated Food Packaging Market
The global Food Packaging industry was estimated at USD 346.5 billion in 2021 and is anticipated to increase at a significant CAGR from 2023 to 2030.
Grand View Research’s food packaging industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.
Fresh Food Packaging Market Insights
The global fresh food packaging market size was estimated at USD 129.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.0% from 2022 to 2030. Increasing demand for organic fresh food products like fruits, vegetables, and dairy from diet and health-conscious consumers is expected to have a positive impact on the market over the forecast period. Furthermore, ever-increasing foodservice operators and retail chains in North American and European economies are projected to switch from plastic packaging to a sustainable solution to attract an environment-conscious consumer base in the region. Thus, the aforementioned factors are expected to drive the demand for eco-friendly fresh food packaging.
Plastic resins such as polypropylene (PP), polyethylene (PE), polyvinyl chloride (PVC), polystyrene (PS), and others like paper pulp, metals, and glass are mainly used to package produce products. These plastic resins are derived from crude oil. In addition, materials like steel, aluminum, and glass are energy-intensive materials. Therefore, continuous fluctuation in crude oil prices leads to uncertainty around the availability of raw materials at lower or economical prices creating challenges for fresh food packaging.
Furthermore, to curb the humongous amount of plastic waste generated annually, many regulatory bodies and governments around the world have imposed restrictions on the generation of primarily plastic waste over the years. The regulatory bodies are emphasizing the circular economy under which higher importance would be given to the reusability of packaging products and strengthening of recycling activities which is expected to create challenges for the plastic material and opportunities for paper and paper board, bagasse, and polylactic acid.
Order your copy of the Free Sample of “Food Packaging Industry Data Book - Flexible Food Packaging, Fresh Food Packaging, Food Container and Micro-perforated Food Packaging Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Food Container Market Insights
The global food container market size was valued at USD 147.5 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 4.2% from 2022 to 2030. The market growth is expected to be driven by the growing demand for packaged food products across the globe. Moreover, the convenience offered by these containers in packaging, carrying, and transporting food products is another major factor driving the product demand in the global industry. Packaged foods primarily include Ready-To-Eat (RTE) meals, RTE convenience foods, frozen meals, cake mixes, snacks, and desserts, among others. The growing demand for these products is expected to force manufacturers to enhance production capacities, which, in turn, will fuel the demand for food containers over the forecast period. Due to the COVID-19 pandemic, the market witnessed sluggish growth in 2020.
Raw material shortage due to supply chain disruption resulted in the reduced production of food containers. Several major players witnessed a decline in their annual revenue in 2020. For instance, the annual turnover of Amcor plc reduced by approximately 6% in 2020 compared to 2019.
As the food items come under the essential products, the demand for the packaged food items has increased during the pandemic. Moreover, with the deep market penetration and the strong supply chain of established food brands in several economies, the demand for food containers has not witnessed a downfall. However, the turnover of various big companies, such as Amcor plc, has declined in 2020 due to supply chain disruptions and transportation restrictions.
Food containers help in increasing the shelf life of products by preserving and preventing food from deterioration. Increasing consumer awareness regarding sustainability and environmental issues is expected to influence the market. Moreover, the increasing focus of manufacturers on innovation and aesthetics of the food containers is also significantly attracting food manufacturers to offer their products in different innovative food packaging, which, in turn, is expected to fuel the market growth in the near future.
Go through the table of content of Food Packaging Industry Data Book to get a better understanding of the Coverage & Scope of the study
Food Packaging Industry Data Book Competitive Landscape
The increasing popularity of ready-to-eat foods, frozen foods, and convenience foods is expected to be one of the factors that are accelerating the growth of the food packaging market. Furthermore, the rising demand for sustainable and eco-friendly food packaging products and solutions by consumers and food processing companies is expected to enhance market growth. Stringent government policies and regulations regarding the use of plastic are increasing the demand for eco-friendly packaging products.
Key players operating in the Food Packaging industry are:
- Berry Global Inc.
- Amcor plc
- American Eagle Packaging
- Sealed Air Corporation
- Sigma Plastics Group
- Mondi
Check out more Industry Data Books, published by Grand View Research
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com/sector-reports-list
Follow Us: LinkedIn | Twitter
No comments:
Post a Comment