Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The food packaging market is influenced by various factors that shape its dynamics and determine its performance. Food packaging plays a critical role in preserving food quality, safety, and shelf life while also ensuring convenience and attractiveness for consumers. One of the primary market factors impacting the global food packaging market is the increasing demand for packaged food products. As consumer lifestyles become busier and the demand for convenience rises, there is a growing preference for packaged foods that are easy to store, transport, and consume. Food packaging offers several benefits, including protection from contamination, preservation of freshness, and portion control, driving its adoption in the food industry and contributing to market growth.
For increasing the shelf life of the food and ensuring the protection of food for travel and home delivery purpose, the market plays a vital role. Good food packaging protects the food and attracts more customers, which increases the market for market in the global market. An increase in the changing lifestyle also resulted in the worldwide market’s market growth. These days, people prefer processed food or packed food as it can be stored for an extended period and are easy to use. With the changing shift from rural to urban areas, the market is expected to grow more.
Moreover, technological advancements and innovations significantly influence the global food packaging market. Manufacturers are constantly innovating to develop food packaging solutions with improved performance, sustainability, and cost-effectiveness. For example, advancements in packaging materials, such as biodegradable plastics and recyclable films, address growing concerns about environmental sustainability and regulatory requirements. Additionally, innovations in packaging machinery, such as modified atmosphere packaging (MAP) systems and vacuum sealing equipment, extend the shelf life of perishable foods and reduce food waste, driving adoption in the food industry.
Furthermore, regulatory factors play a crucial role in shaping the global food packaging market. Regulations and standards related to food safety, hygiene, and labeling drive the adoption of food packaging solutions that meet regulatory requirements. For example, regulations governing food contact materials, such as the Food Contact Materials Regulation (EC) No 1935/2004 in the European Union, mandate the use of packaging materials that are safe for food contact. Similarly, regulations related to product labeling, such as the Nutrition Labeling and Education Act (NLEA) in the United States, require accurate and informative labeling on packaged food products. Compliance with regulatory requirements is essential for food packaging manufacturers to access key markets and maintain customer trust.
Market dynamics such as supply chain considerations and technological advancements also impact the global food packaging market. The food packaging supply chain involves multiple stages, including the sourcing of raw materials, manufacturing of packaging materials, production of food packaging products, and distribution to food manufacturers and retailers. Disruptions at any stage of the supply chain, such as raw material shortages, transportation bottlenecks, or regulatory challenges, can affect the availability and pricing of food packaging. Additionally, advancements in food packaging technologies, such as active and intelligent packaging solutions, improve product safety, quality, and shelf life, driving adoption in the food industry.
Moreover, market factors such as globalization and trade policies influence the global food packaging market. As food packaging manufacturers expand their operations to new markets and regions, there is a growing demand for packaging solutions that comply with local regulatory requirements and cultural preferences. Additionally, trade policies, tariffs, and international agreements related to packaging materials and technologies can impact the competitiveness of food packaging manufacturers in global markets, affecting market dynamics and pricing. Understanding these market factors and adapting manufacturing and distribution strategies accordingly is essential for food packaging manufacturers to remain competitive in the dynamic and evolving global market.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | 6.00% (2023-2030) |
Food Packaging Market Highlights:
Global Food Packaging Market Overview
Food Packaging Market Size was valued at USD 390.74 Billion in 2023. The Food Packaging industry is projected to grow from USD 418.98 Billion in 2024 to USD 763.40 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.79% during the forecast period (2024 - 2032). The food packaging market plays a critical role in preserving food material and improving the shelf-life of food during travel and home delivery. Packaged meals also improve the hygiene factor. The packaged food includes all of the necessary information on the product's manufacturing and expiration dates, as well as an ingredient list, which will help raise awareness about the foods consumers are using are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Food Packaging Market Trends
-
Rise in changing lifestyles to boost market growth
The rise in changing lifestyles is one of the major driving factors for the food packaging market. As more people are leading busy and on-the-go lifestyles, the demand for packaged foods and convenience foods is increasing. This, in turn, drives the demand for food packaging solutions that can preserve the quality and freshness of the food while also providing convenience and portability for consumers. Additionally, as consumers become more health conscious and environmentally aware, there is a growing demand for sustainable and eco-friendly food packaging solutions.
Additionally, increasing technological advancements in the food packaging industry are another major driving factor for the market. Technology has enabled the development of innovative packaging solutions that can better preserve the quality and freshness of food, improve food safety, and provide better convenience and portability for consumers. For example, the use of modified atmosphere packaging (MAP) technology can extend the shelf life of food products by replacing the air inside the packaging with a specific mix of gases. Additionally, smart packaging technologies such as temperature sensors and indicators can help to monitor the condition of the food and ensure that it remains safe and fresh for consumption. These advancements in technology have greatly improved the functionality and effectiveness of food packaging, leading to increased demand for such products. Therefore, such factors related to Food Packaging have enhanced the Food Packaging market CAGR across the globe in recent years.
Food Packaging Market Segment Insights
Food Packaging Material Insights
The Food Packaging market segmentation, based on material, includes Glass, Paper & Paperboard, Plastic, and Metal. The plastic segment held the majority share in 2022 of the Food Packaging market revenue. plastic has been a popular material for food packaging due to its versatility, durability, and low cost. Plastic packaging can take various forms, including bottles, containers, films, and bags, and is used to package a wide range of food products, from snacks and confectionery to fresh produce and meat.
Food Packaging Type Insights
The Food Packaging market segmentation, based on type, includes Bottles, Cans, Pouches, and Boxes. The boxes segment held the majority share in 2022 of the Food Packaging market. Boxes have traditionally been a popular form of food packaging due to their versatility, durability, and ease of customization. They are used to package a wide range of food products, including dry goods, snacks, frozen foods, and fresh produce.
Food Packaging Application Insights
Based on application, the Food Packaging market segmentation includes Bakery & Confectionery, Dairy, Meat, Fruits & Vegetables. The meat segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2030. The meat segment has traditionally been a significant market trends in food packaging, as meat products require specialized packaging to ensure their freshness, safety, and longevity. Meat packaging can take various forms, including vacuum-sealed bags, modified atmosphere packaging (MAP), and trays with a plastic or foam base and a plastic film lid. In terms of projected growth, several factors could contribute to the growth of the meat packaging segment. For example, the increasing demand for convenience foods, the growth of e-commerce and home delivery, and the rising demand for high-quality and sustainable packaging solutions could drive the growth of the meat packaging market in the coming years. These all factors for Food Packaging positively impact market growth.
Figure 2: Food Packaging Market, by Material, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Food Packaging Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region has seen rapid growth in demand for food packaging due to the increasing population, rising disposable income, and the growth of the e-commerce sector. The food packaging market is a industry, and the market share of each region will depend on various factors, such as economic conditions, consumer preferences, and industry trends. As such, the market share of each region may vary over time as market conditions change.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Figure 3: FOOD PACKAGING MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe’s Food Packaging market accounts for the third-largest market share. Europe has a well-developed food industry and a strong focus on sustainability, which has driven the demand for eco-friendly and innovative packaging solutions. The region has also seen the adoption of new technologies, such as active and intelligent packaging, which can help to extend the shelf life of food products and improve their safety and quality. Further, the Germany Food Packaging market held the largest market share, and the UK Food Packaging market was the fastest-growing market in the European region.
North America, Food Packaging market, is expected to hold the largest market share from 2023 to 2030. The North American region has traditionally been a significant market for food packaging, given the large and diverse food industry in the region. The United States, in particular, is home to several major food and beverage companies and has a robust and well-developed packaging industry to support them. Moreover, the U.S. Food Packaging market held the largest market share, and the Canada Food Packaging market was the fastest-growing market in the North American region.
Food Packaging Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Food Packaging market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Food Packaging industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Food Packaging. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Food Packaging industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Food Packaging industry to benefit customers and expand the market sector. Major Food Packaging companies, including Amcor Limited, Coveris Holdings S.A., The Smurfit Kappa Group plc, I. du Pont de Nemours and Company, Mondi Plc, Bemis Company, Inc., International Paper Company, S. Smith Plc., Silgan Holdings Inc, Rock-Tenn Company, and others, are attempting to increase market demand by funding R&D initiatives.
Amcor Limited and Coveris Holdings S.A. are both companies that operate in the packaging industry, including the food packaging market. Amcor Limited is a leader in packaging solutions, with operations in more than 40 countries and a diverse range of products and services. The company's portfolio includes flexible and rigid packaging for food and beverage, healthcare, personal and home care, and other industrial applications. Amcor is committed to sustainability and has set ambitious targets to reduce its environmental footprint, such as increasing its use of recycled materials and reducing waste.
Coveris Holdings S.A is also a provider of packaging solutions, with operations in Europe, the Americas, and Asia. The company offers a wide range of packaging products, including flexible and rigid packaging for food and beverage, healthcare, and other consumer goods. Coveris also has a strong focus on sustainability and has developed several eco-friendly packaging solutions, such as compostable and recyclable packaging materials.
List of the Key Companies in the Food Packaging market includes
-
Amcor Limited
-
-
The Smurfit Kappa Group plc
-
I. du Pont de Nemours and Company
-
Mondi Plc
-
Bemis Company, Inc.
-
International Paper Company
-
S. Smith Plc.
-
Silgan Holdings Inc
-
Rock-Tenn Company among others
Food Packaging Industry Developments
February 2022: Coveris announced making the further expansion of its production capacity for stretch and shrink hoods prepared from recycled materials for industrial applications.
Food Packaging Market Segmentation
Food Packaging Material Outlook
-
Glass
-
Paper & Paperboard
-
Plastic
-
Metal
Food Packaging Type Outlook
-
Bottles
-
Cans
-
Pouches
-
Boxes
Food Packaging Application Outlook
-
Bakery & Confectionery
-
Dairy
-
Meat
-
Fruits & Vegetables
Food Packaging Regional Outlook
-
North America
-
US
-
Canada
-
-
Europe
-
Germany
-
France
-
UK
-
Italy
-
Spain
-
Rest of Europe
-
-
Asia-Pacific
-
China
-
Japan
-
India
-
Australia
-
South Korea
-
Australia
-
Rest of Asia-Pacific
-
-
Rest of the World
-
Middle East
-
Africa
-
Latin America
-
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
