Food Packaging Market Scope
Food packaging is the packaging for food, which provides protection, tampering resistance, as well as take care of special physical, chemical, or biological needs. Nowadays, it also provides a nutrition facts label as well as give other information about food being offered in the market. It helps in the containment, handling as well as delivery of a food product to the end-consumer. Various materials used for packaging includes glass, cardboard, plastic, paper, metal and wood. Food packaging market is possibly the major application segment of the packaging sector. Visual appeal coupled with convenience are the driving aspects for growth of the food packaging market. Increasing demand for convenience food in developing economies is one key factor which propels the market growth. With adoption of new technology and supply chain around the globe, the global food packaging market is likely to grow over the coming years.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Bemis Company, Inc. (United States), Amcor Limited (Australia), Sealed Air Corp. (United States), Nuconic Packaging LLC (United States), Tetra Pak International S.A. (Switzerland), Crown Holdings, Inc. (United States), Ball Corporation (United States), Owens-Illinois Inc. (United States), Rock-Tenn Company (United States) and Berry Global, Inc. (United States) |
CAGR | 4.0% |
The major players invest heavily in the expansion of their business as well as development of new food packaging material to lead in the market. The key players are preferring new joint ventures, collaborations, agreements, & expansions as strategies to improve their production facilities & acquire a major share in the market. Research Analyst at AMA estimates that Switzerland, United Kingdom, and United States Vendors will contribute to the maximum growth of Global Food Packaging market throughout the predicted period.
Bemis Company, Inc. (United States), Amcor Limited (Australia), Sealed Air Corp. (United States), Nuconic Packaging LLC (United States), Tetra Pak International S.A. (Switzerland), Crown Holdings, Inc. (United States), Ball Corporation (United States), Owens-Illinois Inc. (United States), Rock-Tenn Company (United States) and Berry Global, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are American Packaging Corporation (United States), The Smurfit Kappa Group plc (Republic of Ireland) and Rexam PLC (United Kingdom).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Food Packaging market by Type , by Application (Dairy, Bakery and Confectionery, Convenience Foods, Fruits and Vegetables, Meat, Fish, and Poultry, Sauces, Dressings & Condiments and Other Food Products) and Region with country level break-up. On the basis of Type, Flexible Packaging are dominating the market in the year 2023
On the basis of application, Convenience Foods segment is dominating the market in the year 2023
On the basis of geography, the market of Food Packaging has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
The United States (FDA) Food and Drug Administration regulates the packaging & labeling of food. The intent of these regulations is to improve the safety of food distributed throughout the United States & keep consumers informed regarding the food they're consuming. New regulations about contamination of foods proposed by the government authorities for food & safety in the United States, Europe as well as other key economies are expected to have a positive impact on the market during coming years.
Influencing Trend:
Increasing preference to eco-friendly food packaging techniques
Market Growth Drivers:
Growing demand for convenience food and beverages products, Increasing Demand for Convenience Foods in Developing Economies, Extension of food Shelf-Life Speeding the Demand for Food Packaging and Shrinking Household
Challenges:
Strict Government Regulations
Restraints:
Damaging Effects of Packaging Materials
Opportunities:
Advancements in Packaging Technology and Growing investments in food processing industry globally
Key Target Audience
Food Packaging Manufacturers, Raw Materials Suppliers, Government and Research Organizations, Industry Associations and Others