USD 343.3 billion
Global Food Packaging Market Size, Share, Growth Analysis, By Materials(Glass, Metals), By Product Type(Rigid, Semi-Rigid), By Application(Fruits & Vegetables, Bakery & Confectionery) - Industry Forecast 2024-2031
Report ID:
SQSG30I2011 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
97 |
Figures:
76
Global Food Packaging Market Insights
Global Food Packaging Market size was valued at USD 343.3 billion in 2019 and is poised to grow from USD 362.9 billion in 2023 to USD 562.3 billion by 2031, growing at a CAGR of 5.7% in the forecast period (2024-2031).
Growing consumer demand for packaged goods as a result of changing dietary preferences and altering lifestyles may have a critical influence on the industry. Due to their high barrier qualities, shelf lives, and consumer safety, products will be in greater demand as the population and per capita income rise. Foods that are natural, of excellent quality, barely processed or unprocessed, free of preservatives, and with a longer shelf life are in higher demand. Food that has been packaged is used for convenience, barrier and contamination protection, and portion control, among other things. Food safety concerns are addressed through sustainable packaging, which guards against chemical contamination, food-borne illnesses, and loss reduction while maintaining food quality.
US Food Packaging Market is poised to grow at a sustainable CAGR for the next forcast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Semi Rigid
Fastest Growth
Semi-Rigid
Growth Rate
5.7% CAGR
Global Food Packaging Market 2021-2028 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
Global Food Packaging Market Size by Packaging Type, 2021-2028 ($ Bn)
Global Food Packaging Market Size by Packaging Type, 2021-2028 (%)
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Global Food Packaging Market Segmental Analysis
The Global Food Packaging Market is segmented based on Materials, Product Type, Application, and Region. Based on the Materials, the Food Packaging Market is segmented as Glass, Metals, Paper & Paperboard, Wood, and Plastics. Based on the Product Type, the Global Food Packaging Market is segmented as Rigid, Semi-Rigid, and Flexible. Based on the Application, the Global Food Packaging Market is segmented as Fruits & Vegetables, Bakery & Confectionery, Dairy Products, Meat, Poultry & Seafood, Sauces, Dressings & Condiments, and Others. Based on Region Food Packaging Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Food Packaging Market Analysis by Product Type
Due to its growing use in vegetables, fruits, and other readily crushable food goods, rigid packaging has the biggest market share among these packaging types. Demand for products will be boosted by consumer lifestyle changes and rising consumption of bread, sausages, and other snacks, particularly in China, India, Germany, and the United Kingdom. The growing number of food retail stores that are launching cutting-edge products might expand the industry and increase its size. Plastics and cardboard make up semi-rigid packaging, which is mostly used to shield food goods from hostile conditions like humidity and rot. These materials are mostly utilized for microwaveable uses, are lightweight, non-corrodible, shock-resistant, and heat-sealable.
Global Food Packaging Market Share By Packaging Type, 2021 (%), 2023 (%)
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Global Food Packaging Market Regional Insights
In 2020, Asia Pacific had the largest market share worldwide. In 2020, the Asia Pacific market was worth USD 112.65 billion. Due to growing urban population levels and the development of retail infrastructure, which is anticipated to support the expanding demand for packaged goods in China, Japan, and India, this region is likely to stay the biggest during the projection period. The demand in the region may be driven by rising disposable income and customer need for inexpensive, easily handled packaging that is also environmentally benign. Because there are many factories there and there is a growing market for frozen foods, China is a significant user of packaging.
Due to rising demand from the food and beverage sector, Europe, where a significant portion of the market was held, is predicted to experience significant expansion. The change in consumer lifestyle, particularly in Germany, the U.K., and Italy, as well as the rising need for packaging and processed food, will support regional growth. Key drivers of regional expansion are frantic lives, rising buying power parity, easy access to packaged foods, and time restraints for meal preparation.
The Middle East and Africa are predicted to have significant market expansion because of rising demand for dairy products, meat, poultry, and seafood applications. The increase in western culinary culture and food service in the area is a sign of rising consumer demand, which will fuel industry expansion.
Global Food Packaging Market By Geography, 2021 - 2028, 2024-2031
- Largest
- Fastest
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Global Food Packaging Market Dynamics
Food Packaging Market Driver
Rising Demand for Convenience Food
- The demand for ready-to-eat snacks is expected to rise due to sedentary lifestyles, which will lead to the growth of the convenience food business. Additionally, an increase in the working population and per capita disposable income is the main factor driving market expansion. The market for food packaging will develop as a result of consumers' swift shift to consumable foods. Due to consumers' more active lives, there has been an increase in the demand for fast food items in recent years. Because of the rising demand, makers of convenience foods have developed products with better nutritional value and less harmful health effects. The rising demand for convenience foods, which quickly raises the demand for food packaging, supports the market's expansion.
Food Packaging Market Restraint
Rapid Changing Technologies and Rising Cost of Raw Materials
- The packaging sector is impacted by changes in raw material prices. The price of these raw resources is also rising due to laws the government and groups have set around resource conservation, which is preventing the market from expanding. Many novel packaging technologies are becoming unaffordable due to high raw material costs, and businesses are forced to rely on conventional packaging, which has an equally negative impact on the economy and the environment. Costly skilled labor is another obstacle to market expansion. Rapid technological evolution necessitates the use of highly trained workers.
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Global Food Packaging Market Competitive Landscape
The Global Food Packaging market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability.
Food Packaging Market Top Player's Company Profiles
- Amcor Limited
- Ball Corporation
- Berry Global Inc.
- Crown Holdings Inc.
- DS Smith Plc
- International Paper Company
- Mondi Group
- Owens-Illinois Inc.
- Sealed Air Corporation
- Sonoco Products Company
- Tetra Pak International S.A.
- WestRock Company
- Huhtamaki Oyj
- Bemis Company Inc.
- Coveris Holdings S.A.
- Silgan Holdings Inc.
- AptarGroup Inc.
- Greif Inc.
- Ardagh Group S.A.
- Smurfit Kappa Group plc
Food Packaging Market Recent Developments
- In July 2020, Mondi collaborated with the Austrian meat manufacturer Hütthaler to create a thermoforming film that is 100% recyclable and made of a single material for their meat and sausage products. The film serves as a barrier to safeguarding the food and increasing its shelf life. It is composed of a mono-material solution that can be totally recycled.
- In October 2019, Constantia Flexibles and Sappi collaborated to create paper-based packaging materials. The business teamed up with Sappi, which is pushing innovation for sustainable packaging, to boost cooperation across the value chain.
- In July 2019, Berry Global Group, Inc. announced that it has acquired RPC Group Plc. The two will be combined to form a major global provider of protective solutions. With a varied and large production base, the firm will be better able to serve thousands of clients with creative, high-quality solutions.
Global Food Packaging Key Market Trends
- Rising packaging technologies offer a chance for market expansion. For the duration of the shelf life, the packaging is essential for maintaining food quality and ensuring food safety. Plastic packaging is excellent for developing creative product solutions. Plastic cling film is one of the many types of plastic packaging that is still used today. The market is being shaped by the trend toward environmentally friendly packaging and cutting-edge advances in cling film packaging.
Global Food Packaging Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Food Packaging Market Analysis, top packaging companies are deliberately investing in bolstering their positions in the expanding food packaging market. The expansion of the worldwide market is being hampered by trade barriers and supply chain disruptions. The market is expected to expand faster as a result of mitigation measures taken by packaging providers and regional government aid packages to revive the economy.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 343.3 billion |
| Market size value in 2031 | USD 562.3 billion |
| Growth Rate | 5.7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Food Packaging Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Food Packaging Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Food Packaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Food Packaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Food Packaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Food Packaging Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Food Packaging Market Report Snapshots
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