Global Food Packaging Market

Food Packaging Market Size, Share, Growth Analysis, By Material(Paper & board, Metal, Rigid plastic, Flexible Plastic, Glass, Others), Types(Rigid, Semi-Rigid, Flexible), Application(Bakery, Confectionery, Convenience foods, Dairy products, Others), and Region - Industry Forecast 2024-2031


Report ID: SQSG30I2011 | Region: Global | Published Date: June, 2024
Pages: 157 | Tables: 97 | Figures: 76

Food Packaging Market Insights

Global Food Packaging Market size was valued at USD 361.4 Billion in 2022 and is expected to grow from USD 382 Billion in 2023 to reach USD 595.2 Billion by 2031, at a CAGR of 5.7% during the forecast period (2024-2031).

Food packaging offers various key benefits such as food contamination prevention, improved food storage efficiency and these are expected to boost the food packaging industry. Furthermore, declining households, increasing disposable income and rising population are expected to positively impact the market.

Rising consumption of packaged foods due to the increasing popularity of single packaged foods and increasing urban populations. These factors are also supported by a growing program to recycle glass, metal and plastic. However, concerns about waste due to inappropriate packaging can hamper progress.

The purchasing power of consumers in the food packaging segment is expected to continue to grow over the forecast period. The packaged food industry is characterized by a large customer base, which is expected to grow during the forecast period. Furthermore, customers seek new and better solutions for their products and exhibit a greater sense of value.

US Food Packaging Market is poised to grow at a sustainable CAGR for the next forcast year.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Food Packaging Market size was valued at USD 361.4 Billion in 2022 and is expected to grow from USD 382 Billion in 2023 to reach USD 595.2 Billion by 2031, at a CAGR of 5.7% during the forecast period (2024-2031).

The food packaging market is fiercely competitive, with the need to meet evolving consumer needs and stringent regulatory standards. Tetra Pak, a global leader in food processing and packaging solutions, partners with The Coca-Cola Company to develop and implement innovative packaging. This collaboration focuses on products that used in packaging that increases storage, reduces environmental impact and fulfills Coca- Cola’s sustainability commitments by Coca-Cola will also use its market knowledge to has led all companies to adopt environmentally friendly packaging. 'Amcor plc (Switzerland)', 'Sealed Air (USA)', 'Sonoco Products Company (USA)', 'Berry Global, Inc. (USA)', 'WestRock Company (USA)', 'Mondi (Austria)', 'Genpak LLC (USA)', 'Pactiv LLC (USA)', 'Chantler Packages (Canada)', 'WINPAK LTD. (Canada)', 'Alpha Packaging (USA)', 'BE Packaging (USA)', 'Cheer Pack North America (USA)', 'Evanesce Packaging Solutions Inc. (USA)', 'Pacmoore Products Inc. (USA)', 'Innovative Fiber (USA)', 'Emmerson Packaging (Canada)', 'PakTech (USA)', 'Tradepak (USA)', 'ProAmpac (USA)'

Increasing consumer demand for convenience and ready meals is a major driver for the food packaging market. Busy lifestyles have increased the demand for innovative packaging solutions that offer convenience, durability and ease of handling.

Sustainability is becoming a priority in the food packaging market. Companies are increasingly investing in biodegradable, recyclable and compostable materials to meet consumer demand for environmentally friendly packaging. Innovations such as plant-based plastics, reduced packaging, and environmentally conscious policies are driving the market towards sustainable practices, aiming to reduce environmental impact and overcoming increasing regulatory pressure.

North America stands out as the dominating region in this market. This high prevalence can be explained by many factors like packaged food consumption, high technological developments in packaging, and safety measures required by law for consumable products. United States and Canada owe a favourable block for packaged food production and distribution channel added to the retail selling outlets commonly available in different parts of the world.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Food Packaging Market

Report ID: SQSG30I2011

$5,300
BUY NOW GET FREE SAMPLE