Food Packaging Market Size, Share, Trends, Growth 2032

Food Packaging Industry Prospective:

The global food packaging market size was worth around USD 384.35 billion in 2023 and is predicted to grow to around USD 646.05 billion by 2032 with a compound annual growth rate (CAGR) of roughly 5.94% between 2024 and 2032.

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In order to give the users of this report a comprehensive view of the food packaging market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

Food Packaging Market: Growth Drivers

Packaging is as an enclosure for food items in numerous forms, such as a bag, wrapped pouch, tray, box, and can. Food packaging offers damage resistance, protection, and superior chemical, physical, and biological benefits. Food packaging is the largest segment of the packaging industry. Food falls under the category of consumable goods, which makes it essential to preserve, protect, and avoid adulteration caused by biological elements.

Food packaging standards have been considered for smooth transportation and distribution, storage, and delivery of food products. The rising demand for packaged food products due to altering eating habits, shifting lifestyles, and fast-paced lifestyle are major factors likely to drive the global food packaging market growth over the estimated period.

Packaged food reduces the preparation time as it can be consumed instantly, which, in turn, will positively impact the global food packaging market in the upcoming years. The stabilization of food quality and elongated shelf life are major benefits offered by food packaging. Furthermore, food packaging makes transportation of food convenient will also escalate the demand for food packaging in the future. 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.

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The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new material launch, agreements, partnerships, collaborations & joint ventures, research& development, and regional expansion of major participants involved in the market on a global and regional basis. Moreover, the study covers the product portfolio of various companies.

Food Packaging Market: Segmentation

The study provides a decisive view of the food packaging market by segmenting the market based on material, type, application, and region.

Based on material, the food packaging market is segmented into the paper and board, plastic, glass, metal, and others.

On the basis of type, the market is segmented into semi-rigid, rigid, and flexible.

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.

Food Packaging Market: Report Scope

Food Packaging Market: Regional Analysis

The regional segmentation includes the historic and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

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.

Food Packaging Market: Competitive Analysis

The global food packaging market is led by players like:

• 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
• ConAgra Foods, Inc

This report segments the global food packaging market into:

Global Food Packaging Market: Material Analysis

• Paper and Board
• Plastic
• Glass
• Metal
• Others

Global Food Packaging Market: Type Analysis

• Rigid
• Semi-Rigid
• Flexible

Global Food Packaging Market: Application Analysis

• Dairy Products
• Bakery and Confectionery
• Convenience Foods
• Fruits and Vegetables
• Meat, Fish, and Poultry
• Sauces, Dressings, and Condiments
• Others

Global Food Packaging Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa