Zion Market Research has published a new report titled “Food Packaging Market by Material (Paper & Board, Plastic, Glass, Metal, and Others), by Type (Rigid, Semi-Rigid, and Flexible), and by Application (Dairy Products, Bakery & Confectionery, Convenience Foods, Fruits & Vegetables, Meat, Fish, & Poultry, Sauces, Dressings, & Condiments, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global food packaging market was valued at approximately USD 292.91 billion in 2018 and is expected to generate around USD 423.27 billion by 2025, at a CAGR of around 5.4% between 2019 and 2025.
The growing number of health-conscious consumers and increasing preference for packaged food as compared to openly sold food products will enhance the need for food packaging, which is expected to positively impact the global food packaging market growth over the forecast time period. Various developments are witnessed in packaging standards and smart packaging techniques designed to improve the quality of food. This will enable consumers to spend on premium products, which is expected to drive the food packaging market growth in the upcoming years. However, stringent government regulations and concerns over food safety and health safety of consumers may hinder the food packaging market growth in the future.
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Recent advancements, such as automation in printing techniques, smart packaging, software systems, and interfaces, are projected to drive the global food packaging market growth over the estimated timeline. Safety of food is an important requirement for food production and packaging. According to the USDA, food poisoning is accountable for the illness of more than 75 million people annually.
Based on material, the food packaging market is segmented into the paper and board, plastic, glass, metal, and others. The paper and board segment held a substantial market share in 2018, due to high product adoption to substitute non-biodegradable packaging options. Moreover, paper packaging offers innovation in design, ease of printing, and sustainability.
On the basis of type, the market is segmented into semi-rigid, rigid, and flexible. The rigid packaging segment held a significant market share in 2018, due to high resistance to oxygen, light, and moisture that prevents food from being contaminated.
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Based on application, the food packaging market is segmented into dairy products, bakery and confectionery, convenience foods, fruits and vegetables, meat, fish, and poultry, sauces, dressings, and condiments, and others. The bakery and confectionery segment held the highest market share in 2018. Bakery and confectionary products are usually packed in high moisture barrier packaging to extend their shelf life. Flexible packaging is mostly used for the packaging of bakery and confectionary products due to its lightweightness and economical cost in comparison to tins and paper cartons.
By region, Asia Pacific held a major revenue share of the global food packaging market in 2018 and is expected to grow notably over the forecast timeframe. This growth is attributed to the huge demand for food packaging from Japan, India, and China for healthy food products and the region’s growing population base. Europe is expected to experience rapid growth in the years ahead, owing to economic sustainability to produce packaged food and the presence of major industry players that offer user-friendly, cost-effective, and advanced packaging solutions for food.
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Some key players operating in the global food packaging market include Berry Plastics, Kraft Foods, PepsiCo, Tetra Pak, DINE Marketing, Beam Suntory, Impact Plastics, INX International Packaging, Kellogg’s Co., McCain Foods, CSI Closure Systems International, Cargill Inc., AmeriPak, Inc., and ConAgra Foods, Inc., among others.
This report segments the global food packaging market into:
Global Food Packaging Market: Material Analysis
- Paper and Board
Global Food Packaging Market: Type Analysis
Global Food Packaging Market: Application Analysis
- Dairy Products
- Bakery and Confectionery
- Convenience Foods
- Fruits and Vegetables
- Meat, Fish, and Poultry
- Sauces, Dressings, and Condiments