Food Packaging Market to reach US$ 505.0 Bn by 2030 growing at CAGR of 5.2%,” according to ChemView Consulting’s Analyst

According to a research survey conducted by ChemView Consulting, in 2022, the Global Food Packaging Market was worth US$ 336.6 Bn and is expected to grow at a CAGR of 5.2% over the forecast period. The market is expected to hit US$ 505.0 Bn by 2030 end.

The need for convenience food items is anticipated to increase due to evolving lifestyles and new eating patterns, which will help support overall industry demand. Convenience and the utilization of high-performance materials are expected to support industry expansion.

The industry is anticipated to develop faster due to increased efficiency in avoiding content contamination and improved shelf-life. Factors including increased disposable income, declining family sizes, and population growth contribute to the industry’s expansion.

Antimicrobials, antioxidants, moisture absorbers, MAP, VAP, and other ingredients are being added to the packaging at an accelerated rate to delay food product ripening and increase shelf life by lowering microbial growth. As a result, there is a growing need for active food packaging.

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Segments Covered in Report

By Material:

  • Plastic
  • Paper
  • Metal
  • Glass

By Packaging Type:

  • Flexible Food Packaging
    • Bags & Pouches
    • Films & Wraps
    • Labels
    • Stick Pack & Sachets
    • Others
  • Rigid Food Packaging
    • Bottles & Jars
    • Boxes & Cartons
    • Cans
    • Trays
    • Cups & Tubs
    • Clamshells
    • Others

By Application:

  • Ready-to-Eat Meals
  • Dairy Products
  • Bakery & Confectionery Products
  • Fresh Produce Products
  • Meat, Seafood, and Poultry
  • Sauces, Dressings, and Condiments
  • Other Food Products

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Key Takeaways from the Food Packaging Market

  • Based on Material, the plastic material category became dominant, with a revenue share of nearly 35.0% in 2021. The food and beverage sector makes substantial use of plastic packaging goods such as trays, containers, tubs, wraps, pouches, and others to package convenience foods, frozen meals, carbonated and non-carbonated beverages, and snacks.
  • Based on Application, the segment with the highest revenue share, more than 25.0%, was bakery and confectionery. High moisture barrier packaging is typically used to increase the shelf life of bakery and confectionery items. Due to its benefits over paper cartons and tins, such as lightweight, printability, and cost-effectiveness, flexible packaging is frequently utilized for food packaging. Additionally, the category development is anticipated to be aided by the confectionary items’ appealing packaging.
  • Based on Region, the Asia-Pacific area had the highest revenue share—more than 35.0% in 2021. Population growth, rising per capita income, and expanding demand in developing nations like China, Japan, and India in the Asia Pacific are anticipated to propel the market. With its enormous population and expanding economy, China is the biggest consumer. Due to its burgeoning middle class and growing purchasing power, China’s market is anticipated to increase at a rapid rate.

Competition Summary

Key companies covered in the market study are Mondi Group, Berry Global Group, Tetra Pak, Amcor plc, DS Smith plc, Stora Enso, Plastipak, Crown Holdings Inc, Graham Packaging Company, and Sealed Air Corporation.

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Report Key Highlights and Coverage

  • Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
  • Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
  • The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
  • Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
  • Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
  • Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
  • Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
  • Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
  • Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
  • Strategic market analysis, recommendations, and future headways on crucial winning strategies.

About ChemView Consulting

ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have been collaborating with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.

What sets ChemView Consulting apart?

  • Full-time research experts and subject matter experts
  • In-house primary research team
  • The in-house data visualization team
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