USD 343.3 billion
Food Packaging Market Size, Share, Growth Analysis, By Materials(Paper & board, Metal, Rigid plastic, Flexible plastic), By Types(Rigid, Semi-rigid, Flexible), By Application(Bakery, Confectionery, Convenience foods, Dairy products), By 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.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Semi Rigid
Fastest Growth
Semi-Rigid
Growth Rate
5.7% CAGR
Global Food Packaging market By Type ($ Bn)
Country Share for North America Region (%)
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Food Packaging Market Segmental Analysis
Global Food Packaging market is segmented based on Materials, Types, Application, and region. Based on Materials, the market is segmented into Paper & board, Metal, Rigid plastic, Flexible plastic, Glass, Others. Based on Type, the market is segmented as Rigid, Semi-rigid, Flexible. Based on Application, the market is segmented as Bakery, Confectionery, Convenience foods, Dairy products, Fruits & vegetables, Sauces, Dressings and Condiments, Others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
Analysis by Type
In 2022, the food packaging market dominated the flexible packaging segment and accounted for 43.0% of the total market share in terms of revenue. The shift in demand from hard to soft packaging is expected to drive the market. The high performance and convenience offered by retortable packaging is expected to show high demand during the forecast period.
Rigid packaging is the fastest growing segment in the market. Rigid packaging is widely used because of its oxygen, light and moisture content, which prevents food from spoiling. The demand for durable packaging products from North America has been observed due to increasing consumer demand for nutritious and convenient packaged foods. Due to the health consciousness of the public, the demand for protein-rich processed fish and meat products and processed foods such as fruits and vegetables is constantly increasing in countries like Canada, China and India.
Applications for semi-solid packaging include dairy products, fresh sandwich packaging, and bakery and confectionery products. Thus, the consumption of milk, milk, bread and confectionery products is expected to boost the demand for semi-solid packaging.
Analysis by Application
The fruits and vegetables segment dominates the global food packaging market. This prominent position reflects the critical role that packaging plays in preserving the freshness, quality, and nutritional value of food items throughout the supply chain. As consumers recognize the importance of a balanced plant-based diet, the demand for innovative packaging solutions expands and equalizes innovation.The convenience foods segment is the fastest growing application in the global market. This rapid growth is due to the changing lifestyle and eating habits of consumers worldwide, who are looking for easy-to-prepare, time-saving foods that do not significantly compromise taste or quality. Packaging manufacturers have brought their innovation and came up with a variety of packaging that can suit convenience foods such as resealable pouches, microwavable containers, smart packaging. Though these innovative packaging technologies improve the shelf life of the convenience foods and maintain the product's quality. It also provides convenience factors which can be beneficial for consumers with busy lifestyles.
Global Food Packaging market By Type
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Food Packaging Market Regional Insights
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.
Asia Pacific is estimated to be the largest market. Asia Pacific accounted for more than 38.0% of the total market revenue in 2022. The food packaging industry is expected to drive from rising per capita income, growing population and increasing in developing countries such as India and Japan. The food packaging industry in China is expected to grow significantly due to the expanding middle class and growing purchasing power.
Global Food Packaging market By Region
- Largest
- Fastest
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Food Packaging Market Dynamics
Drivers
Growing Demand for Convenient and Ready to Eat Foods
- 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.
Growth in E-commerce and Online Sales
- The expansion of e-commerce and online groceries is increasing the need for advanced food packaging solutions. As consumers increasingly shop online, there is an increasing need for packaging that will keep products safe in transit and keep them fresh until delivery.
Restraints
Environmental Problems and Regulations
- The food packaging market faces major challenges due to environmental concerns and regulations on plastic waste and sustainability. Stricter regulations and consumer demand for environmentally friendly packaging are prompting companies to invest in sustainable products, potentially raising cost savings production and complexity have increased.
High Cost of New Packaging Technology
- The adoption of advanced packaging technologies, such as smart, dynamic packaging, could be critical. These innovations often require the significant investments in research and development, as well as specialized equipment, which can be a barrier for smaller companies or those with limited budgets.
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Food Packaging Market Competitive Landscape
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.
Top Player’s Company Profiles
- 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)
Recent Developments
- In June 2022, Walki introduced new frozen packaging to make the paper stream of packaging 100% recyclable. The new materials are expected to consume frozen foods to meet the needs of the industry. Two of Waki's other products, Waki Evo Seal and Waki Opti Seal, are recyclable paper packaging designed for frozen food pillowcases.
- In April 2022, Mondi introduced new packaging products for the food industry at Anuga Foodtech in Cologne, Germany. Monloop and Mono-Formable PP will deliver high-barrier foods, demonstrating the critical role packaging plays throughout the supply chain.
- In August 2022, Seal Packaging launched new environmentally friendly packaging. The first UKCA certified plastic-free paper cups, a biologically active alternative to traditional paper bottles, and the Compostbowl are just some of the new creative products currently being launched.
Food Packaging Key Market Trends
Sustainable Packaging Innovation
- 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.
Food Packaging Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types of team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the global food packaging market has emerged as a dynamic and rapidly growing industry, driven by the ever-changing needs of consumers across the globe. Industry has been following the growing demand for packaging convenient solutions, safe and environmentally friendly by investing in new shelf enhancing technologies life, food -Improves safety and meets growing demand for durable goods the increase is handled. Currently, active and smart technologies are gaining traction, as packaging solutions embedded with new functions such as temperature change indicators, freshness detectors, and anti-bacterial coatings are growing in demand.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 361.4 Billion |
| Market size value in 2031 | USD 595.2 Billion |
| Growth Rate | 5.7% |
| Base year | 2023 |
| 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:-
|
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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 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 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 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 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 Food Packaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the 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.
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