Report ID: UCMIG30I2166
Report ID:
UCMIG30I2166 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global food packaging industry was valued at US$7.21 billion in 2019 and is projected to grow at a compound annual growth rate (CAGR) of 13.1% from 2020 to 2027. The rising consumer awareness regarding health and wellness has contributed to a significant increase in the consumption of organic food products on a global scale. Consumers are increasingly opting for natural food options to avoid the potential negative effects associated with synthetic ingredients commonly used in conventional food production.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Packaged Foods & Meats by segment aggregation, the contribution of the Packaged Foods & Meats in Food, Beverage & Tobacco and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG30I2166