According to the latest report by IMARC Group, titled “Food Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, provides an extensive analysis of the industry, including food packaging market trends, share, and growth opportunities. The report also covers competitor and regional analysis and the latest advancements in the global market. The global food packaging market size reached US$ 363.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 512.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5.94% during 2023-2028.
Food Packaging Market Overview:
Food packaging refers to the materials and containers used to enclose and protect food products during storage, transportation, and sale. Rigid plastic, metal, flexible, glass, paper, and paperboard are some of the commonly available types of food packaging. It helps in preserving the quality and safety of food, as well as providing information to consumers. Food packaging is commonly available in unique designs, shapes, and colors. In comparison to other packaging, food packaging exhibits higher insulation, cost-effectiveness, and durability. As a result, it finds extensive application in dairy products, bakery and confectionery, meat, fish, poultry, sauces, dressings, condiments, food and vegetables.
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Global Food Packaging Market Trends and Drivers:
The rising demand for convenience food across the globe is one of the key factors propelling the market growth. In line with this, the rising demand for packaged and ready-to-eat (RTE) food products due to busy lifestyles, hectic schedules, and changing consumption patterns are favoring the market growth. Apart from this, the widespread product utilization to extend the shelf life of perishable foods, minimize contamination risks and ensure food safety is providing a considerable boost to the market growth.
Furthermore, increasing usage of green packaging solutions due to rising environmental concerns is further propelling the market growth. Other factors, including rising expenditure capacities of consumers, growing e-commerce platforms, rapid product innovations, and significant growth in food and industry, are presenting remunerative growth opportunities for the market.
Key Market Segmentation:
Top Food Packaging Companies Worldwide:
- Amcor PLC
- Crown Holdings Incorporated
- Owens-Illinois Inc.
- Tetra Pak Ltd.
- American Packaging Corporation
- Ball Corporation
Breakup by Packaging Type:
- Flexible
- Paper and Paperboard
- Rigid Plastic
- Glass
- Metal
- Others
Breakup by Application:
- Bakery, Confectionery, Pasta, and Noodles
- Dairy Products
- Sauces, Dressings, and Condiments
- Snacks and Side Dishes
- Convenience Foods
- Meat, Fish, and Poultry
- Fruits and Vegetables
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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