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

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.