28th November 2019 – Global Food
Packaging Market size is anticipated to reach USD 411.3 billion by
2025. Food packaging is a method to protect food from contamination &
damage enhance the shelf life of a food product. Packaging food is a
combination of science, art and technology that is used in the transportation
and selling of foods. The primary role of food packaging is to protect food
from the external factors& damage and provide information regarding food
ingredients and nutrition to the consumers. The food packaging market is
expected to register a CAGR of 5.1% over the forecast period as the scope,
product types, and its applications are increasing across the world.
The factors that play an important role
in the growth of food packaging industry include increasing demand for
processed food, increasing urbanization, rising disposable income, and
stringent government rules & regulations regarding food safety. Moreover,
improving shelf life of food products, changing lifestyle & eating habits,
and crisp marketing by key manufactures are the factors which are expected to
boost the growth of the market in the years to come. However, fluctuating
prices of raw materials and side effects of packaging food on health are
negatively affecting the growth of market. The food packaging industry is
widely analyzed based on different regional factors such as gross domestic
product (GDP), demographics, acceptance, inflation rate, and others. The market
is categorized based on type, material, application and geography.
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Types that could be explored in food
packaging market comprise rigid packaging, flexible packaging, semi-rigid
packaging, and others. Flexible food packaging is expected to hold the largest
market share in the forthcoming period due to its ability to form lighter,
thinner, and compact packing. Also, shifting demand from rigid to flexible packing
solution, technological innovations in product development, increasing trend of
smaller packaging and cost-effective material are likely to boost the demand
for flexible packaging during the projected period.
Applications such as dairy product,
bakery & confectionary, meat & seafood, fruits & vegetables, sauces
& dressing, and others may be explored in food packaging industry in the
future period. Bakery & confectionery is expected to be the largest
application due to growing demand for candies, cakes and frozen ready-to-eat
bakery products. Food packaging may be explored by material such as plastics,
cardboard, aluminum, metal, glass and others. Plastic packaging is expected to
hold the highest market share during the forecast period due to its superior
properties.
Asia Pacific is projected to be the
highest market followed by North America and Europe. The increasing population
in urban areas, rising per capita income, and growing demand for healthy food
products in developing countries such as India & China are major factors
driving the growth of the market in Asia Pacific region. The food packaging
market in China is projected to grow at a significant CAGR owing to its large
population and their rising purchasing power.
The key players operating in the food
packaging industry are Amcor Ltd., Georgia Pacific Corporation, Bemis Company
Inc., Ball Corporation, Crown Holdings Inc., International Paper Company,
Sealed Air Corporation, WestRock Company, Berry Plastics, CM Packaging, Mondi
Plc, RockTenn Company, Coveris Holdings S.A., D.S. Smith Plc., Tetra Park
International, Owens Illinois and DS Smith PLC. Also, these players are
concentrating on new joint ventures, collaborations, agreements, and strategies
to improve their production facilities and gain a larger share in the market.
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