Food Packaging Market

Food Packaging Market size reached USD 349.3 billion in 2022 and is estimated to reach USD 528.0 billion in 2030 and the market is estimated to grow at a CAGR of 5.3% from 2023-2030 attributed to increasing demand for convenience food products and changing lifestyles of consumers.

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Key Food Packaging Industry Trends and Drivers

Major factors driving food packaging market are surge in the demand for convenience food products, rise in the number of food service suppliers around the world, changes in the eating habits of consumers and improvements in the efficiency of food packaging solutions for protecting content contamination. Over the years, global employment rates have increased drastically, as per recent estimates almost 3.3 billion people were employed in 2021. As employment rates are increasing, consumers are becoming more engaged in work related activities, due to time constraints, they are preferring to eat food products, which requires less preparation time and have high shelf life, which in turn is pushing the demand for convenience food products. In addition, smart packaging is gaining traction in food packaging industry as it helps in maintaining quality of food items and increases costumer interaction by connecting with them through bar code labels and QR codes, which are supplementing the food packaging market growth.

Online foods delivery services have revolutionized food industry. Online food delivery services increased the demand for food and beverage, as the food delivery applications offer consumers convenient payment options and attractive discounts, which encourages customers to order more food from these apps. Online food delivery market in India was estimated to be USD 3 billion in 2020 and is expected to increase by 10 billion in coming 5-6 years. As acceptance for online shopping is increasing amongst consumers, demand for food will rise in future, which is expected to create lucrative opportunities for food packaging manufacturers to expand their business.

Increasing consumers preference towards hygienic packaging and clean room packaging solutions, is accelerating the growth of food packaging market. Manufacturers are focussing to use technology-based packaging formats like vacuum atmospheric packaging, to maintain shelf life and quality of food items. Moreover, increasing demand for water-soluble packaging and edible packaging for food and beverage products, growing popularity green packaging solutions and rise in the adoption of latest packaging technologies by companies, are some of the factors propelling the growth of eco-friendly food packaging market. Increasing per capita incomes of consumers, rising global population growth rates and shrinking household size, are expected to have a positive impact on food packaging industry. However, food packaging market is highly regulated, as various agencies worldwide such as Food and Drug Administration (U.S) have imposed strict regulations related to types of food packaging coupled with variations in the prices of raw materials and high cost of employing skilled workforce are some of the factors restricting the food packaging market growth.

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Based on Material, Rigid Plastic segment is forecast to hold the largest market share

Companies uses plastic packaging products such as containers, pouches and wraps for packaging various products like frozen meal items and carbonated beverages. Additionally, paper-based packaging solutions are gaining popularity in the food packaging industry due to growing consumers preference for eco-friendly food packaging solutions and strict regulations imposed by governing bodies to protect environment. Manufacturers are preferring to use aluminum as it can be heated and cooled for sterilization, which is driving the Metal segment.

As per food packaging market analysis, Flexible Packaging segment is projected to dominate the market

Enterprises are increasingly using flexible packaging solutions as it consumes less resources as compared to rigid packaging and is environment friendly. In addition, reduction in the sizes of households and growing demand for different snacks, are promoting the development of flexible packaging solutions materials like peel-off plastic.

Based on Application, Bakery & Confectionery segment will lead the food packaging market

Flexible packaging solutions are increasingly used for manufacturing bakery and confectionery related food items as it is comparatively lightweight and cost-effective than paper cartons and tins. Furthermore, confectionary and bakery items offer more convenience to consumers because it can be eaten instantly, which is boosting the segment’s growth.

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According to food packaging market report, Asia-Pacific region is expected to capture the largest market share

Asia Pacific food packaging market is driven by presence of large population, growing demand for convenience food items in developing countries in the region and rising per capita incomes. In addition, due to rising urbanization in Asia-Pacific region, demand for practical fruit and vegetable powders has increased in the food and beverage industry as these ingredients helps in preserving original flavours and assists in cooking final goods coupled with growing popularity of online food delivery services, are augmenting the market growth. North American food packaging market is driven by increasing vegan population, rising penetration of e-commerce and growing number of food outlets.

Top Market Players

Various notable players operating in the food packaging industry are Ball Corporation, Amcor plc, EasyPak, Crown, Sealed Air, WestRock Company, Tetra Pak International S.A., Owens-Illinois Inc., Silgan Holdings, Inc., and Toyo Seikan Group Holdings, Ltd, among others.

Key Developments:

• • In June 2022, Walki launched its new recyclable packaging materials for frozen food items, which is fully recyclable in paper stream. Two new products namely, Walki EVO Seal and Walki Opti Seal, are paper designed for pillow pouches of frozen food.
  • In May 2021, Coveris Group completes acquisition of Four04 Packaging. Through this acquisition company plans to expand its presence in the U.K market by introducing new product offerings and increasing their production capabilities.
  • In January 2020, Amcor plc, a global leader in developing flexible packaging and rigid containers based out of Austraila partnered with Moda vacuum to develop advanced packaging solutions for its customers. Through this partnership company will combine shrink bag and stock film for cheese and meat with Moda’s system to develop solution, which can help producers to increase their operational efficiency.
  • In 2019, Sealed Air, a major packaging company based out of United States, announced that it has acquired the MGM to expand its foothold in the Asia-Pacific market.

Segments Covered in the Report:

The global food packaging market has been segmented on the basis of material, type, application, and region. Based on the material, the market is segmented into rigid plastic, paper & board, glass, flexible plastic, metal, and other packaging material. Based on the type, the market is segmented into flexible packaging, rigid packaging, and semi-rigid packaging. Based on the application, the market is segmented into bakery & confectionery, dairy products, fruits & vegetables, convenience foods, sauces, dressings & condiments, meat, fish, & poultry, and other food products.

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Market Segmentation:

Global Food Packaging Market by Material

• • Rigid Plastic
  • Paper & Board
  • Glass
  • Flexible Plastic
  • Metal
  • Other Packaging Material

Global Food Packaging Market by Type

• • Flexible Packaging
  • Rigid Packaging
  • Semi-Rigid Packaging

Global Food Packaging Market by Application

• • Bakery & Confectionery
  • Dairy Products
  • Fruits & Vegetables
  • Convenience Foods
  • Sauces, Dressings & Condiments
  • Meat, Fish, & Poultry
  • Other Food Products

Global Food Packaging Market by Region

• • North America Food Packaging Market (Option 1: As a part of the free 25% customization)

    • By Material
    • By Type
    • By Application
    • United States of America Market (US) All-Up
    • Canada Market All-Up

  • Europe Food Packaging Market (Option 2: As a part of the free 25% Customization)

    • By Material
    • By Type
    • By Application
    • United Kingdom (UK) Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Food Packaging Market (Option 3: As a part of the free 25% Customization)

    • By Material
    • By Type
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Food Packaging Market (Option 4: As a part of the free 25% Customization)

    • By Material
    • By Type
    • By Application
    • Brazil Market Market All-Up
    • South Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Food Packaging (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • • Ball Corporation
    • Amcor Ltd
    • Nuconic Packaging LLC
    • Crown Holdings, Inc.
    • Sealed Air Corp.
    • Rock-Tenn Company
    • Tetra Pak International S.A.
    • Owens-Illinois Inc.
    • Silgan Holdings, Inc.
    • Toyo Seikan Group Holdings, Ltd