Summary

Global Food Packaging Market Segments, Trends, Challenges, Demand, Analysis, Opportunities, Future Scope by Material (Glass, Paper & Paperboard, Plastic, Metal), Type (Bottles, Cans, Pouches, Boxes), Application (Bakery & Confectionery, Dairy, Meat, Fruits & Vegetables) and Region - Forecast to 2023  

Food Packaging Market Overview

Food packaging enables the preservation of food products and ensures improved shelf-life of the product thereby, satisfying increased number of customers. The food packaging market is estimated to develop substantially over the forecast period with the advent of numerous production facilities. The rapid transformation in the lifestyle of people, the varying food preferences of consumers collectively with rising population in the emerging economies is estimated to propel the market growth during the forecast period. The growing preference of people for processed food owing to shifts in population dynamic from rural to urban regions is also stimulating the growth of the food packaging market.

The reports published by Market Research Future reveals that the food packaging market is estimated to develop at 4% CAGR over the forecast period 2017-2023.

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Key Players

The global food packaging Industry is dominated by key players such as

• Coveris Holdings S.A (Luxembourg)
• Amcor Limited (Australia)
• I. du Pont de Nemours and Company (U.S.)
• The Smurfit Kappa Group plc (Republic of Ireland)
• Bemis Company, Inc. (U.S.)
• Mondi Plc (Austria)
• S. Smith Plc. (U.K.)
• International Paper Company (U.S.)
• RockTenn Company (U.S.)
• Silgan Holdings Inc. (U.S.)

Industry Updates

In October 2018, it was announced that the Gneuss MRS recycling process has passed the EFSA challenge test for processing of 100% post-consumer PET in Europe and has been approved worldwide for food packaging

In October 2018, Evoware, an Indonesian startup that designs food wrapping and sachets, has come up with an edible food packaging alternative. This packaging is made out of seaweed and is being used for three different purposes that include package coffee, noodle seasonings and wrappers for burgers.

In October 2018, Mondelez International, an American multinational confectionery, food and beverages company, has announced that it will shift to all recyclable packaging by the end of 2025.

Food Packaging Industry Segmentation

Global food packaging market is segmented based on application, region, type, and material. Based on application, the market is segmented as dairy, bakery & confectionery, fruits, vegetables, meat, and others. Amongst these, the meat industry is the most lucrative within the food packaging market. The growing preferences of the consumer for protein-rich food are in turn, resulting into increased consumption of seafood and meat. The busy lifestyle of the customers is propelling the demand for frozen foods. Based on region, the food packaging market is segmented into Asia-Pacific, North America, Europe, and Rest of the World. Based on type, the market is segmented as cans, bottles, boxes, pouches, and others. Amongst these, boxes type food packaging contributed towards the largest revenue share of the food packaging market over the forecast period. Boxes are normally made up of corrugated paper and they offer extremely strong tertiary packaging to the food products. Additionally, pouches are generally made of plastic, which offers better design flexibility for food packaging manufacturers and facilitates optimum consumption of shelf space. Based on material, the market is segmented into paper & paperboard, metal, glass, plastic, and others.

Regional Analysis

North America market is anticipated to contribute primarily to the food packaging market followed by Asia Pacific and Europe market. However, the North America market is estimated to be at the maturity stage of the product life cycle process, which makes the market saturated and restricted for prominent growth. The Asia Pacific market is expected to witness remarkable growth owing the presence of emerging economies such as India and China. The growing population in this market coupled with the surging per capita income drives the food packaging market significantly. Additionally, the preference for processed foods fuel the demand for food packaging market in APAC. The growth is further likely to expand owing to the application of innovative technologies in food packaging.

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