NEW
YORK, May 16, 2024 /PRNewswire/ -- The
global food packaging market size is estimated to grow
by USD 79.41 bn from 2023-2027,
according to Technavio. The market is estimated to grow at a CAGR
of 4.32% during the forecast period.
For more insights on the forecast market size and
historic data (2017 - 2021) - Download Free sample
report in minutes
Forecast
period
|
2023-2027
|
Base Year
|
2022
|
Historic
Data
|
2017 - 2021
|
Segment
Covered
|
Product (Flexible
plastic, Rigid plastic, Glass, Metal, and Others), Application
(Bakery and confectionery, Dairy products, Poultry meat and sea
food, Fruits and vegetables, and Others), and Geography (APAC,
Europe, North America, South America, and Middle East and
Africa)
|
Region
Covered
|
APAC, Europe, North
America, South America, and Middle East and Africa
|
Key companies
profiled
|
Amcor Plc, Ardagh Group
SA, Ball Corp., Berry Global Inc., BWAY Corp., CANPACK SA, COFCO
Corp., DS Smith Plc, International Paper Co., Kian Joo Can Factory
Bhd, Metal Packaging Europe, O I Glass Inc., Orora Ltd., Sealed Air
Corp., Silgan Holdings Inc., Tata Steel Ltd., Tetra Laval S.A.,
Toyo Seikan Group Holdings Ltd., Crown Holdings Inc., and Huhtamaki
Oyj
|
Key Market Trends Fueling Growth
The food packaging market experiences significant growth due to
the increasing sale of food products on e-commerce platforms.
Durable primary packaging is essential to maintain product quality
and freshness during storage and transit. Secondary packaging plays
a crucial role in ensuring safe shipment, preventing damage,
contamination, spoilage, and pest attacks. Factors influencing the
market include customization options, inventory control, consumer
education, market availability, shelf life, product safety, smart
packaging, antioxidants, antimicrobials, moisture absorbers, visual
alerts, time and temperature, food waste, convenience food,
readymade meals, and various external environmental factors such as
relative humidity, light, pressure, heat, and microorganisms.
Market Challenges
- The food packaging market encompasses various types of
materials, including plastic, glass, metals, and paper. Notable
packaging formats are stick packs and sachets, bottles and jars,
boxes and cartons, cans, trays, clamshells, and dairy products.
Prices of raw materials, such as virgin fibers and recycled fibers,
significantly impact vendors, leading to increased product pricing
due to fluctuating costs. High-performance materials with diverse
compositions and extended shelf life are essential for fresh food
products, quick-service restaurants, cafes, and kiosks. The market
includes rigid and flexible packaging, with applications in dairy
product segments and primary, secondary, and tertiary packaging.
Innovations like smart packaging, bioplastics, and
nanotechnology further enhance the industry.
Research report provides comprehensive data on
impact of trend, driver and challenges - Buy
Report
Segment Overview
This food packaging market report extensively covers market
segmentation by
- Product
- 1.1 Flexible plastic
- 1.2 Rigid plastic
- 1.3 Glass
- 1.4 Metal
- 1.5 Others
- Application
- 2.1 Bakery and confectionery
- 2.2 Dairy products
- 2.3 Poultry meat and sea food
- 2.4 Fruits and vegetables
- 2.5 Others
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Flexible plastic- The Plastic material segment
dominates the food packaging market, particularly in the realm of
Plastic food packaging. This segment encompasses a diverse range of
products such as bags, pouches, liners, wraps, sachets, and
containers. The advantages of Plastic food packaging are numerous.
It extends the shelf life of food items, making it an ideal choice
for fast-food and convenience food. Plastic containers offer high
barriers properties, ensuring product safety and preserving the
freshness of perishable goods. Primary packaging, including Plastic
containers, offers customization options, enabling brands to
showcase their unique identities through various shapes, sizes, and
printing options. Secondary and tertiary packaging, also made of
Plastic, are lightweight and easy to ship, reducing transportation
costs. Innovations in Plastic food packaging include the use of
Paper packaging, Bioplastic material, PCR plastic, and Bio-based
polymers. Smart packaging solutions, incorporating Nanotechnology,
Antioxidants, Antimicrobials, Moisture absorbers, Visual alerts,
and Time and temperature indicators, enhance consumer experience
and minimize Food waste. Market availability, Shelf life, and
Product safety are crucial factors driving the growth of Plastic
food packaging. Consumer education plays a vital role in increasing
awareness about the benefits of Plastic food packaging and its
sustainable alternatives. Inventory control and convenience are
additional advantages, making Plastic food packaging a preferred
choice for the food industry.
For more information on market segmentation with geographical
analysis including forecast (2023-2027) and historic data (2017 -
2021) - Download a Sample Report
Research Analysis
The Food Packaging Market encompasses various types of packaging
solutions designed to protect and preserve food products from
contamination, spoilage, damage, and pest attacks during storage,
transit, retail sale, and external environment exposure. High
barrier properties of packaging materials play a crucial role in
extending the shelf life of food items, particularly dairy products
and single-serve packs. The market caters to a wide range of retail
products, including fast-food items, through primary, secondary,
and tertiary packaging solutions. Plastic food packaging, such as
containers, is a significant segment due to its versatility and
ability to maintain the required relative humidity levels.
Recycling initiatives are gaining momentum in the market to ensure
sustainability in online purchasing trends.
Market Research Overview
The Food Packaging Market encompasses various types of packaging
materials and technologies used to preserve and protect food
products from contamination, damage, and prolong their shelf life.
Key packaging materials include plastic, paper & board, metal,
and glass. Technologies such as active packaging, smart packaging,
and biodegradable packaging are gaining popularity due to their
sustainability and advanced functionalities. The market is driven
by factors like increasing consumer awareness towards food safety,
convenience, and the growing demand for ready-to-eat and on-the-go
food products. Additionally, regulatory initiatives and government
policies promoting the use of eco-friendly packaging solutions are
expected to fuel market growth. The market is segmented by material
type, technology, application, and region.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Flexible Plastic
- Rigid Plastic
- Glass
- Metal
- Others
- Application
-
- Bakery And Confectionery
- Dairy Products
- Poultry Meat And Sea Food
- Fruits And Vegetables
- Others
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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