Pune, India, August 18, 2022 (GLOBE NEWSWIRE) — Global Food packaging market size is expected to rise from USD 338.34 billion in 2021 To USD 478.18 billion by 2028for sale CAGR 5.1% during the forecast period. Increasing demand for packaged products due to evolving lifestyles and changes in eating habits is expected to impact the market. Fortune Business InsightTMs In a report entitled “Food Packaging Market, 2021-2028”.
The study includes qualitative and quantitative insights into this market as well as an in-depth analysis of market size and growth. The report also includes an in-depth study of market dynamics and competitive landscape. Porter’s five forces, recent market trends, key country regulatory scenarios, competitive landscape, micro- and macro-economic factors, SWOT analysis, key food packaging industry trends, and company profiles are key insights in the report. is one of his.
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List of key market players in Food packaging industry:
- Mondi Group (Austria)
- Amcor plc (Australia)
- Berry Global Inc. (USA)
- Stora Enso (Finland)
- Constantia Flexible (Austria)
- Plasticak (U.S.)
- Tetra Pak International SA (Switzerland)
- DS Smith (UK)
- Crown Holdings, Inc. (USA)
- ExxonMobil Chemical (USA)
- Cobelis Group (UK)
Impact of COVID-19
Flexible Food Packaging Increases Market Demand Due To COVID-19 Outbreak
The food industry has been placed under essential services by all governments, so the impact of COVID-19 on global markets is lower than other manufacturing industries. Flexible packaging companies serving sectors such as packaged food are expected to do well during the ongoing pandemic. Changes in consumer demand patterns, government actions and stockpiles are increasing the demand for processed foods. Due to the increase in food safety crises during the pandemic.
Report scope and segmentation:
|2028 value projection||US$478.18 billion|
|Food packaging market size in 2021||US$338.34 billion|
|Target segment||Insights by type, end-user, and geography|
|Food packaging market growth drivers||Growing need for convenience food to boost market growth|
|Packaging innovations fueling food industry growth|
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Paper and paperboard generate the highest revenues by market
The market is divided into glass, metal, paper and paperboard, wood and plastic. Paper and paperboard have the largest market share and are suitable for use in food packaging due to their recyclable and eco-friendly nature, versatility and low carbon emissions. The major factor driving the market is the increasing use of paper in the packaging of various ready-to-eat foods, fresh vegetables, and beverages.
By product, rigid packaging holds the largest market share
Based on product, the food and packaging market is divided into rigid, semi-rigid, and flexible segments. Rigid packaging has the largest market share among these packaging types due to its increasing use in vegetables, fruits, and other easily crumbleable foods. Changing consumer lifestyles and overconsumption of breads, sausages and other snacks, mainly in China, India, Germany and the UK, will boost the demand for the industry. An increase in food retailers launching creative products is likely to drive the overall market size.
By application, confectionery and baked goods show significant CAGR
The market is divided into several uses such as fruits and vegetables, bakery and confectionery, dairy products, meat, poultry, seafood, sauces, dressings and seasonings. Among these applications, the bakery and confectionery segment is expected to maintain its dominance over the forecast period. Mainly used in toffee, chewing gum, candy and chocolate bakery and confectionery applications. Increased consumption of these foods will lead to market growth.
Europe dominates global market due to low temperatures
In 2020, Asia-Pacific will hold the largest share of the global market. The region is expected to remain the largest during the forecast period, owing to urban population growth and retail infrastructure development.
Europe accounts for a large market share and is expected to grow significantly due to increasing demand from the food and beverage industry. Growing demand for packaging and processed foods, and changing consumer lifestyles will boost regional growth, especially in Germany, the United Kingdom, and Italy.
This market is expected to boom significantly in North America. The United States is a major consumer of ready-to-eat meals, which will boost the growth of the market.
Latin America, Mexico and Brazil will contribute significantly to the market growth. The expansion in this region is mainly due to the increasing demand for canned food.
Increasing demand for dairy products, meat, poultry, and seafood is expected to boost the growth of the Middle East and Africa market.
Competitive environment –
New packaging solutions strengthen market position of key players
North America and Europe are the two largest producers of the market. Mondi Group, Amcor plc, Berry Global Inc., and Ball Corporation are some of the key market players. Mondi provides sustainable packaging and manufacturing companies, develops industrial and consumer packaging products, and produces plastic films, pulp and paper.
View a detailed overview of the research report using TOC:
table of contents:
- Research scope
- market segmentation
- research method
- definitions and assumptions
- executive summary
- market dynamics
- market driver
- market constraints
- market opportunity
- key insight
- main trends
- latest technological advances
- Insights into regulatory scenarios
- Porters Five Forces Analysis
- Key Developments: Acquisitions, Collaborations, Strategic Partnerships, Joint Ventures
- COVID-19 impact analysis
- Supply chain challenges
- Steps companies have taken to overcome the impact of COVID-19
- Potential Opportunities Due to the Impact of COVID-19
- Global Food Packaging Market Analysis, Insights and Forecasts – By Material, 2017-2028
- Main Findings/Summary
- Market Analysis, Insights & Forecasts – By Material
- Global Food Packaging Market Analysis, Insights and Forecasts – By Product Type, 2017-2028
- Main Findings/Summary
- Market Analysis, Insights & Forecasts – By Product Type
- Global Food Packaging Market Analysis, Insights and Forecasts – By Application, 2017-2028
- Main Findings/Summary
- Market Analysis, Insights & Forecasts – By Application
- fruits and vegetables
- Bakery & Confectionery
- dairy products
- meat, poultry, seafood
- sauces, dressings, condiments
- Global Food Packaging Market Analysis, Insights and Forecasts – By Region, 2017-2028
- Main Findings/Summary
- Market Analysis, Insights & Forecasts – By Region
- North America
- Asia Pacific
- latin america
- Middle East and Africa
Notable industrial development-
Constantia Flexibles announces collaboration with Sappi
October 2019: Constantia Flexibles has announced a collaboration with Sappi to develop paper-based packaging materials. Value To enhance collaboration across his chain, the company has partnered with his Sappi to drive innovation in sustainable packaging.
Drivers and Restraints-
Growing Demand for Convenience Foods Helping Market Growth
The convenience food market is expected to grow as sedentary lifestyles result in increased consumption of ready-to-eat snacks. Moreover, increasing disposables per capita coupled with increasing working population are the main drivers of market growth. The majority of consumers are shifting to easily digestible foods, spurring the expansion of the food packaging market. However, regulations set by governments and associations on resource conservation are driving up the prices of these raw materials, hindering the growth of the food packaging market.
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Read related insights:
Flexible packaging market sizeShare and Regional Forecast 2022-2029
Rigid packaging market sizeshare and regional forecast 2022-2029
Glass packaging market sizeShare and Regional Forecast, 2020-2027
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