Industries Study Report: Food Packaging Industry

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How Sustainable Practices are Shaping the Future of the Food Packaging Industry?

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

The global Food Packaging Industry was estimated at USD 346.5 billion in 2021 and is anticipated to increase at a significant CAGR from 2022 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.

Access the Global Food Packaging Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Flexible Food Packaging Market Growth & Trends

The global Flexible Food Packaging Market is expected to expand at a CAGR of 6.3% from 2022 to 2030. Flexible food packaging combines the benefits of paper, aluminium foil, and plastic without impacting the barrier protection properties, printability, ease of use, and durability of packaging products. This packaging also keeps the freshness of packaged products intact. Some examples of flexible food packaging products are chip bags, protein bar wrappers, juice pouches, and granola pouches.

The flexible segment of the food packaging market is growing significantly worldwide. According to a report titled ‘Flexible Packaging Facts & Figures’ released by the Flexible Packaging Association (FPA), it was the second-largest segment of the packaging market in the U.S. as of August 2021. Increasing demand for flexible packaging products for packing food products owing to their cost effectiveness, lightweight, etc. is anticipated to fuel the growth of this segment of the market.

Ongoing technological advancements in flexible packaging in the form of improving moisture and freshness retention properties are expected to fuel the demand for flexible packaging products across the world in the coming years. For instance, Fresh-Lock technology offers reclosable flexible packaging solutions with improved durability and slow oxidation when used with appropriate refrigeration and freezing conditions.

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 Growth & Trends

The global Food Container Market is growing at a CAGR of 4.2% during the forecast period, as per a new report by Grand View Research, Inc. The global market is primarily driven by the enormous increase in global food output. The demand for convenient packaging that is easy to store, and carry, and enables immediate consumption of food is likely to rise. Thus, it is critical for food container manufacturers to stay up to the changing consumer tastes.

The rise in the number of employed women, the proportion of households consuming packaged goods, and a significant rise in double-income households are boosting the worldwide industry for food containers' future growth. The population growth in metropolitan areas and the growing number of single-person households are expected to drive the demand for food containers.

However, the market's expansion would be constrained by the environmental impact of food storage container disposal in the forecast period. Moreover, food contamination as a result of the usage of lower-quality materials is another factor that is expected to hamper the target market's expansion 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

Competitive Landscape

Key players operating in the Food Packaging industry are:

Berry Global Inc.
Amcor plc
American Eagle Packaging
Sealed Air Corporation
Sigma Plastics Group

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.

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Food Packaging Industry: Value Addition and Profit Margin Analysis, 2023 - 2030

Access the Global Food Packaging Industry Data Book, 2023 to 2030, compiled with details like trade data, pricing intelligence, and competitive benchmarking.

Fresh Food Packaging Market Report Highlights

The global Fresh Food Packaging Market size was valued at USD 129.0 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2022 to 2030.

The flexible segment accounted for a significant revenue share of 47.6% in 2020. Manufacturers are actively investing in increasing the production capacity of flexible packaging owing to the increasing preference for economical and low-cost packaging by the application industry
The plastic material segment accounted for the largest revenue share of 37.2% in 2020 and is expected to witness a CAGR of 4.7% over the forecast period. Abundant raw material availability and lower costs owing to high production levels in APAC and North America are responsible for the high market share
The dairy products segment dominated the market in 2020 and is expected to witness a CAGR of 5.3% over the forecast period. Higher dependency on milk for daily protein requirement in developing countries is expected to drive the demand for dairy products, thereby driving the market
In Asia Pacific, the market is estimated to witness the highest CAGR of 6.3% from 2021 to 2028. Abundant raw material availability and large output from application industries are responsible for the high market share and fastest growth
Key companies are increasingly offering custom packaging solutions to end-use companies; besides key companies are increasingly focusing on the use of recycled material as it offers complete sustainability

Order your copy of 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 Report Highlights

The global Food Container Market size was valued at USD 147.5 billion in 2021 and is expected to grow at compound annual growth rate (CAGR) of 4.2% from 2022 to 2030.

The plastic material segment accounted for the largest revenue share of over 46% in 2020 owing to high demand for plastic as it is durable, inexpensive compared to alternatives, and available in different shapes and sizes
The metal segment is expected to grow at a significant CAGR from 2021 to 2028 owing to properties of metal, such as reusability and durability. However, the material’s higher price and weight compared to plastic may retrain the segment growth
The cans product segment is expected to witness the fastest CAGR from 2021 to 2028 on account of the increasing demand for canned foods across the globe, such as canned tuna and vegetables/fruits
The bottles and jars product segment accounted for the maximum revenue share in 2020 and will expand at a steady CAGR from 2021 to 2028

Go through the table of content of Food Packaging Industry Data Book to get a better understanding of the Coverage and Scope of the study

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:

Mondi
Sonoco Products Company
Genpak LLC
DS Smith PLC
Westrock Company

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Food Packaging Industry Driver, Restraint, Challenges and Opportunities Study

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.

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.

Fresh Food Packaging Market share, by region, 2022 (%)

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

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

Contact:

How Sustainable Practices are Shaping the Future of the Food Packaging Industry?

Food Packaging Industry: Value Addition and Profit Margin Analysis, 2023 - 2030

Food Packaging Industry Driver, Restraint, Challenges and Opportunities Study

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