As per Future Market Insights, the demand in the food packaging market is driven by rising need for packaged food and stringent government policies regarding packaging. Hence, end users in developing economies are switching from unpackaged to packaged foods. Consumption of packaged products with a longer shelf life is surging due to rising health consciousness and awareness about the importance of eating fresh food.
With demand for convenience foods on the rise, the sales in food packaging market are expected to reach US$ 335.9 Bn by 2022. As packaged and processed meals are simple and quick to prepare, the worldwide packaged and processed food business is expected to increase significantly in the coming years.
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Key Takeaways from Food Packaging Market
· The food packaging market is expected to grow by ~1.7x its current value, surpassing US$ 563 Bn by 2032.
· Based on packaging type, the flexible food packaging market is estimated to dominate the market throughout the forecast period.
· Dairy product is expected to remain top item in food packaging market and estimated to grow by 1.7x.
· South Asia food packaging market is predicted to account for roughly 26% of the worldwide market share during the forecast period.
“With increasing workhours food behaviour of consumers are shifting which will help the market to grow. To capitalize on this trend, key players re focusing on innovation and redesigning of food packaging to keep the product fresh for a longer duration will be essential to be in the market.” comments FMI Analyst
Food Packaging Market Landscape
Mondi Group, Berry Global Group, Tetra pak, Amcor plc, DS Smith plc, Stora Enso, Plastipak, Crown Holdings Inc., Graham Packaging Company, Sealed Air Corporation, Westrock Company, Ball Corporation, International Paper Company, Constantia Flexibles Group GmbH
Food packaging Market by Category
By Material:
• Plastic
• Paper
• Metal
• Glass
By Packaging Type:
• Flexible Food Packaging
o Bags & Pouches
o Films & Wraps
o Labels
o Stick Pack & Sachets
o Others
• Rigid Food Packaging
o Bottles & Jars
o Boxes & Cartons
o Cans
o Trays
o Cups & Tubs
o Clamshells
o Others
By Application:
• Ready-to-Eat Meals
• Dairy Products
• Bakery & Confectionery Products
• Fresh Produce Products
• Meat, Seafood and Poultry
• Sauces, Dressings and Condiments
• Other Food Products