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

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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 Container Market Is Predominantly Driven by The Rapid Growth in The Food Processing Industry

Food Container Industry Overview

The global food container market size is anticipated to reach USD 201.9 billion by 2028, registering a CAGR of 4.2% over the forecast period, according to a new report by Grand View Research, Inc. The global market is predominantly driven by the rapid growth in the food processing industry mainly in the emerging markets. In addition, the rising need to reduce carbon footprints and increasing adoption of bioplastics in the packaging industry are driving the market. Moreover, innovation and new product developments are attracting food manufacturers, which is expected to augment the market growth.

For instance, in 2020, Tetra Pak and Dabur formed a partnership to launch low-calorie juice products in a new packaging format i.e., bare paperboard with wood fiber packaging for a natural look. Due to the COVID-19 pandemic, the market witnessed a decline in demand in 2020. Raw material shortage due to supply chain disruption resulted in the reduced production of food containers. Various 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.

Food Container Market Segmentation

Grand View Research has segmented the global food container market on the basis of material, product, and region:

Based on the Material Insights, the market is segmented into Plastic, Metal, Glass, and Others

• The plastic segment led the market in 2020 with a revenue share of over 46%. On the basis of material, the market has been divided into plastic, metal, glass, and others.
• Plastic is lighter than other materials and is incredibly energy efficient to manufacture. Moreover, it is quite inexpensive compared to other materials, such as metals and glass.

Based on the Product Insights, the market is segmented into Bottles & Jars, Cans, Cups & Tubs, Boxes, and Others

• The bottles & jars product segment led the market in 2020 with a revenue share of over 28%. Bottles and jars are the most widely used products in the rigid food packaging
• The cans product segment is estimated to register the fastest CAGR of more than 4.5% from 2021 to 2028 due to the rising demand for various canned foods and beverages.
• The cups and tubs segment is also expected to register a significant CAGR over the forecast period.

Food Container Regional Outlook

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa

Key Companies Profile & Market Share Insights

The global industry is highly competitive due to the presence of global, regional, and local manufacturers. Manufacturers in the market offer a wide range of products in different sizes, shapes, and formats. The competition among players is based on numerous parameters including corporate reputation and product offerings, price, quality, recyclability, & sustainability. New product launches, innovations, distribution network expansions, joint ventures, and mergers & acquisitions are some of the key strategies adopted by most of the players to strengthen their position in the market and gain a higher share.

Some prominent players in the global Food Container market include:

• Amcor plc
• Silgan Holdings, Inc.
• Ardagh Group
• Berry Plastics Corp.
• Plastipak Holdings, Inc.
• Sonoco Products Company
• Graham Packaging Company, Inc.
• Weener Plastics
• Ball Corp.
• Tetra Pak

Order a free sample PDF of the Food Container Market Intelligence Study, published by Grand View Research.