Food Packaging Market
The global food packaging market is poised to expand at 4% CAGR over the estimated years (2020–2027). Upsurge in the demand for packaged food products and increasing production volume of food products has significantly driven the market for food packaging. Hectic lifestyle and easy availability have induced high demand for on-the-go, convenience food products largely. Spending in food items tends to be influenced by income levels among consumers and gradual rise in spending capabilities, especially in the developing countries has influenced the food packaging industry positively. Advances made in food packaging technology which protect food products against external weather conditions and transit damage have excelled in recent years which leaves more room for market expansion. The food packaging industry is investing heavily in such technologies which is likely to push the market further. In addition, the emergence of advanced robotics in the food packaging industry is likely to catapult the market growth in the coming years. Availability of low-cost robots and high investments in automated solutions in food packaging industry is motivating the use of robots which is expected to benefit the food packaging market.
On the contrary, strict regulations prohibiting the use of plastic-based packaging materials is likely to be a hindrance to the Food Packaging Market growth. Meanwhile, bioactive packaging has cropped up as an appropriate solution amidst growing worldwide effort to reduce the use of various plastic-based materials for food packaging and is likely to provide opportunities to the food packaging market. Various legislations which restrict the use of plastics have been laid down in multiple countries. This presents a significant challenge to the food packaging industry which is aptly remediated by eco-friendly and recyclable packaging materials.
Market Segmentation
MRFR report offers a broad segmental analysis of the food packaging market on the basis of material, type, and application.
Based on material, the food packaging market has been segmented into glass, paper & paperboard, plastic, metal and others.
Based on application, the food packaging market has been segmented into bakery & confectionery, dairy, meat, fruits and vegetables and others. Of these, the meat segment is likely to exhibit notable growth over the estimated years due to increasing demand for protein-rich food products.
Based on type, the food packaging market has been segmented into bottles, cans, pouches, boxes, and others. Of these, the boxes segment accounts for the foremost share of the food packaging market.
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Regional Analysis
By region, the global food packaging market covers growth opportunities and latest trends across North America, Europe, Asia Pacific (APAC) and the Middle East & Africa (MEA). Of these, North America captures the majority share of the food packaging market. Increased intake of packaged food in the region, developed retail industry, and expansion of the food & beverage industry are factors driving the growth of the North America food packaging market. Additionally, the presence of various retailing giants in the region such as Walmart, Costco, and the Kroger Company lay greater emphasis on packaging and have laid down packaging guidelines which boost the growth of the market. The APAC food packaging market is spurred by increasing consumption of packaged food in the region purveyed by increasing disposable income. Moreover, development of food retail chains and development of the food & beverage industry in the region augurs the growth of the market.
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Key Players
Leading players profiled in the food packaging market include RockTenn Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), D.S. Smith Plc. (U.K.), International Paper Company (U.S.), Coveris Holdings S.A (Luxembourg), The Smurfit Kappa Group plc (Republic of Ireland), Amcor Limited (Australia), Silgan Holdings Inc. (U.S.), Mondi Plc (Austria), and Bemis Company, Inc. (U.S.).
April 2019 — Ahlstrom-Munksjö, a leading player in sustainable and innovative fiber solutions, announced the expansion of its Grease-Gard portfolio with the launch of new FluoroFree papers. The papers are suitable for food wraps, lamshells, microwave popcorn bags, and fast-food products and are devoid of per and polyfluoroalkyl substances (PFAS).
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