The food Packaging market was valued at USD 68.02 Billion in 2019 and is expected to reach USD 135.58 Billion by the year 2027, at a CAGR of 10.46% from 2021 to 2027.
Food
packaging plays a vital role in preserving and transporting food items to their
desired location without affecting the taste or quality. It protects the
contents from moisture and toxins, prevents the food products from spillage and
tampering, and helps retain their shape and quality. Food packaging has also
gained traction as a means of information transmission, such as the nutritional
content, expiry date, price and origin of the packaged products. It also acts
as a modern marketing medium for sellers to attract consumers worldwide.
Food Packaging Market report covers a detailed analysis of current and upcoming market trends, company market shares, market projections, competitive benchmarking, competition mapping, and in-depth research of the most significant sustainability strategies and their impact on industry growth and competition. The research was conducted using a combination of primary and secondary data, as well as input from leading industry players.
The Major Players In The Food
Packaging Market Include:
Amcor Ltd. (Australia), Rock-Tenn
Company (U.S.), Sealed Air Corp. (U.S.), Nuconic Packaging LLC (U.S.), Tetra
Pak International S.A. (Switzerland), Crown Holdings Inc. (U.S.), Ball
Corporation, Berry Global Inc, DS Smith PLC, Genpak LLC, Huhtamäki Oyj,
Reynolds Group Holdings Limited
Market has segmented the global Food
Packaging market on the basis of type, application, and region:
The Food Packaging market is
segmented by type and application. Growth between segments over the period
2022-2028 provides accurate calculations and forecasts of revenue by type and
application in terms of volume and value. This analysis can help you expand
your business by targeting eligible niches.
Rigid, Semi-rigid, Flexible
By Application:
Bakery, Confectionery,
Convenience foods, Dairy products, Fruits & vegetables, Sauces, Others
By Regional Outlook
(Revenue, USD Billion, 2017 – 2028)
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain,
Rest of Europe)
- Asia-Pacific (China, India, Japan, Southeast Asia, Rest
of APAC)
- Middle East & Africa (GCC Countries, South Africa,
Rest of MEA)
- South America (Brazil, Argentina, Rest of South
America)
IMR offers a comprehensive overview of the market through the analysis of key parameters such as revenue, price, competition, and promotions, as well as the study, synthesis, and summarization of data from different sources. It analyzes the leading industry drivers and shows numerous market components. The information offered is thorough, dependable, and the result of a comprehensive primary and secondary study. IMR market research reports offer a comprehensive global market as well as an in-depth strategic sourcing methodology and analysis based on qualitative and quantitative research to anticipate market growth.
Covid-19 Impact and Recovery
Analysis on Industry:
The COVID-19 pandemic has had
devastating effects on several industry verticals globally. To constrain the
number of cases and slow the coronavirus spread, various public health
guidelines were implemented in different countries across the globe. COVID-19
protocols ranging from declaring national emergency states, enforcing
stay-at-home orders, closing nonessential business operations and schools,
banning public gatherings, imposing curfews, distributing digital passes, and
allowing police to restrict citizen movements within a country, as well as
closing international borders. With the growing vaccination rate, governments
are uplifting the protocols to give a boost to the stagnant economy. Like other
industries, Food Packaging Market have experienced slowdown the growth,
however market is expected bounce back as restrictions are being lifted up by
governments across the globe.
Key Market Trends
·
Increasing
Demand for Shelf-Life Extension of Foods Accelerating the Food Packaging Market
·
After
packaging, it takes time for packaged food to reach consumers across various
parts of the world. The packaged food may not be fresh and might lose its aroma
and taste before reaching the consumer. The threat of food being spoilt before reaching
the consumer is increasing, as it would result in a loss of the capital
invested in the packaging.
·
To
overcome this, food processing industries are investing in technologies and
various new packaging techniques, such as intelligent packaging and engineering
science, which help in increasing the shelf life of the product. Organizations
are focusing on consumer satisfaction, apart from revenues, as it impacts the
image and value in the market.
· Increasing health consciousness and awareness regarding consuming fresh food are influencing consumers to opt for packaged products with a longer shelf life. Therefore, rising demand for better shelf life products across countries such as the United States is driving the market growth.
