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.
By Type:
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.
Comments