NEW YORK, USA, May 23, 2023 (Globe Newswire) — Overview of the food packaging market
According to a comprehensive research report by Market Research Future (MRFR), “food packaging market Information by type, material, application and region – forecast to 2030”, the food packaging market could grow at a rate of 6% from 2022 to 2030.The market size is expected to reach approximately $530 billion by the end of 2030
Market overview
The food packaging market includes the use of packaging materials and techniques to protect food during transportation, storage and consumption. The market is driven by several factors such as growing demand for convenient food packaging options, growing awareness of food safety, and growing preference for sustainable and environmentally friendly packaging materials.
One of the major drivers of the food packaging market is the increasing demand for convenient food packaging options. Consumers’ busy lifestyles are driving a shift toward food choices on the go, resulting in increased demand for portable, convenient and easy-to-use food packaging. This has led to the development of a wide range of packaging materials and designs to meet the needs of on-the-go consumers.
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Market Competitive Landscape:
Wealthy companies in the food packaging industry include:
- Amcor Limited
- Coveris Holdings SA
- Smurfit Kappa Group plc
- Dupont de Nemours & Company
- mondi company
- Bemis Company Co., Ltd.
- International Paper Company
- Smith company
- Silgan Holdings Co., Ltd.
- rock ten company
- Above all.
Report scope:
| report attribute | detail |
| Market size in 2030 | $530 billion |
| Compound Annual Growth Rate (CAGR) | 6.00% (2023-2030) |
| base year | 2022 |
| Market forecast period | 2023-2030 |
| historical data | 2018 and 2020 |
| Forecast unit | Value (USD Billion) |
| Report coverage | Earnings forecast, competitive environment, growth factors, trends |
| Target segment | By type, application, region |
| Target area | North America, Europe, Asia Pacific, and Rest of the World (RoW) |
| Key market trends | Change in trend toward specialization and sophistication of ingredients Change in trend toward processed foods Adoption of various strategies |
See full market research report (page 113) Food packaging:
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February 2022
Global packaging giant Coveris has announced plans to expand its production capacity of telescopic hoods made from recycled materials for industrial applications.
Target Market USP:
Market drivers:
One of the factors driving the food packaging market is the increasing demand for convenient, ready-to-eat food. This demand is driven by changing lifestyles, increasing urbanization and rising disposable incomes, which are driving more people to seek prepackaged and portable food options. This trend is especially strong in developing countries where busy lifestyles and long working hours make it difficult to prepare meals at home. As a result, food packaging companies are innovating and expanding their product lines to offer a wide range of convenient prepackaged food options to meet consumer needs.
Market constraints:
One of the constraints on the food packaging market is growing concern among consumers and governments about the environmental impact of packaging waste. Many governments have implemented regulations and policies to reduce plastic waste, increasing scrutiny of the use of non-biodegradable, single-use plastics in food packaging. This is forcing food packaging companies to seek and invest in sustainable and environmentally friendly packaging solutions. However, the transition to more sustainable packaging options can be costly and the development of new materials and technologies can be time consuming, which could impede the growth of the food packaging market in the short term.
Analysis of novel coronavirus disease (COVID-19)
The COVID-19 pandemic has had a major impact on the food packaging market. The pandemic has disrupted supply chains and increased demand for packaged food as consumers stock up on essentials. As a result, demand for food packaging materials and products such as paper and plastic containers, bags, and wraps surged.
However, the pandemic has also brought about a shift in consumer preferences towards sustainable and environmentally friendly packaging solutions. As more people become aware of the environmental impact of packaging waste, there is now a growing demand for packaging materials made from renewable and biodegradable resources. Additionally, the pandemic has caused some countries to temporarily ban the use of reusable bags and containers as a precautionary measure to prevent the spread of the virus, increasing the use of single-use packaging products.
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market segmentation
By material
Materials on the market include glass, paper and paperboard, plastic, metal), types (bottles, cans, pouches, and boxes).
By use
Segments by application include bakery and confectionery, dairy, meat, fruit and vegetables
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Regional Insight
The North American food packaging market is driven by factors such as increasing demand for conveniently packaged food, increasing awareness of sustainable packaging, and increasing adoption of biodegradable and environmentally friendly materials for packaging. The largest market for food packaging in the region is the United States, followed by Canada. Moreover, in Europe, the food packaging market is driven by factors such as increasing demand for ready-to-eat meals, rising awareness of the environmental impact of packaging waste, and the implementation of stringent regulations on food packaging. The UK, Germany and France are the major markets for food packaging in the region.
In addition, the Asia-Pacific food packaging market is driven by factors such as population growth and urbanization, increasing demand for processed and packaged foods, and adoption of innovative packaging technologies. China, Japan and India are the major markets for food packaging in the region.
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