The "Food Packaging Market Size, Share, Forecast, & Trends Analysis by Material, Packaging Type, Product Type, Application - Global Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.
Food packaging market is projected to reach $698.4 billion by 2031, at a CAGR of 5.9% during the forecast period 2024-2031.
The growth of the food packaging market is driven by the growing demand for convenience food products, the increasing demand for convenient & portable packaging solutions, the rising demand for food products with extended shelf life, and high growth in the retail sector. However, food packaging materials' susceptibility to degradation and fluctuations in raw material prices restrain market growth.
Moreover, the growing emphasis on eco-friendly packaging & recyclability and innovation in packaging technology are expected to create market growth opportunities. However, stringent regulatory requirements pose a significant challenge to the market's growth.
Asia-Pacific is expected to witness significant growth during the forecast period 2024-2031, mainly due to growing government support for the food processing sector and rising disposable incomes in the region.
The key players operating in the food packaging market are Amcor plc (Australia), Smurfit Westrock plc (Ireland), Mondi plc (U.K.), Berry Global Group, Inc. (U.S.), Sealed Air Corporation (U.S.), Ball Corporation (U.S.), Tetra Pak International SA (Switzerland), Schur International Holding A/S (Denmark), Anchor Packaging LLC (U.S.), Crown Holdings, Inc. (U.S.), International Paper Company (U.S.), Graham Packaging Company Inc. (U.S.), Borealis AG (Austria), and B.C. Jindal Group (India).
In 2024, the plastic segment is expected to account for the largest share of 43.3% of the food packaging market. The large share of this segment is mainly attributed to technological advancements, including the development of biodegradable plastics and the increasing demand for lightweight packaging.
In 2024, the flexible segment is expected to account for the largest share of 46.6% of the food packaging market. The large market share of this segment is attributed to the increasing adoption of flexible packaging due to its advantages, including convenience, sustainability, cost-effectiveness, versatility, and extended shelf life of food products.
The films & wraps segment is projected to register the highest CAGR of 7.1% during the forecast period 2024-2031, mainly due to the growing consumption of convenience foods, growth of the food service and food & grocery delivery sectors, and a shift from rigid to flexible packaging.
In 2024, the beverages segment is expected to account for the largest share of 24.3% of the food packaging market. The segment's large market share can be attributed to the growing demand for ready-to-drink beverages and the increasing focus of beverage manufacturers on brand identity, continuous innovation, and new product development.
Based on end user, the food packaging market is segmented into food manufacturers, food service providers, packaging service providers, and other end users. The food service providers segment is projected to register the highest CAGR of 7.1% during the forecast period. The segment's growth is primarily driven by the increasing number of food service outlets, the rising consumption of ready-to-eat meals and fast food, and the growing penetration of E-commerce.
Key Questions Answered in the Report:
- What is the current revenue generated in the food packaging market globally?
- - At what rate is the demand for food packaging solutions projected to grow over the next 5-7 years?
- What are the historical market size and growth rate of the food packaging market?
- What are the major factors impacting the growth of this market at the regional and country levels?
- What are the major opportunities for existing players and new entrants in this market?
- Which segments in terms of material, packaging type, product type, application, and end user are expected to create traction for the manufacturers in this market during the forecast period 2024-2031?
- What are the key geographic trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the food packaging market?
- Who are the major players in the food packaging market? What are their specific product offerings in this market?
- What are the recent strategic developments in the food packaging market? What are the impacts of these strategic developments on the market?
Food Packaging Market Insights
Drivers
- Growing Demand for Convenience Food Products
- Increasing Demand for Convenient & Portable Packaging Solutions
- Rising Demand for Food Products with Extended Shelf Life
- High Growth in the Retail Sector
Restraints
- Food Packaging Materials' Susceptibility to Degradation
- Fluctuations in Raw Material Prices
Opportunities
- Growing Emphasis on Eco-friendly Packaging & Recyclability
- Innovation in Packaging Technology
Challenges
- Stringent Regulatory Requirements
Trends
- Rise of E-Commerce
- Edible Packaging
Porter's Five Forces Analysis
Companies Featured
- Amcor plc (Australia)
- Smurfit Westrock plc (Ireland)
- Mondi plc (U.K.)
- Berry Global Group Inc. (U.S.)
- Sealed Air Corporation (U.S.)
- Ball Corporation (U.S.)
- Tetra Pak International SA (Switzerland)
- Schur International Holding A/S (Denmark)
- Anchor Packaging LLC (U.S.)
- Crown Holdings Inc. (U.S.)
- International Paper Company (U.S.)
- Graham Packaging Company Inc. (U.S.)
- Borealis AG (Austria)
- B.C. Jindal Group (India)
Scope of the Report:
Food Packaging Market Assessment - by Material
- Plastics
- Non-biodegradable Plastic Packaging
- Low-density Polyethylene (LDPE) Packaging
- High-density Polyethylene (HDPE) Packaging
- Polyethylene Terephthalate (PET) Packaging
- Polyvinyl Chloride (PVC) Packaging
- Polystyrene (PS) Packaging
- Polypropylene (PP) Packaging
- Other Non-biodegradable Plastic Packaging
- Biodegradable Plastic Packaging
- Starch-based Plastic Packaging
- Polylactic Acid (PLA) Packaging
- Cellulose-based Plastic Packaging
- Poly-3-Hydroxybutyrate (PHB) Packaging
- Polyhydroxyalkanoates (PHA) Packaging
- Other Biodegradable Plastic Packaging
- Paper & Paper-based Packaging
- Metal Packaging
- Glass Packaging
- Other Packaging Materials
Food Packaging Market Assessment - by Packaging Type
- Flexible
- Rigid
- Semi-rigid
Food Packaging Market Assessment - by Product Type
- Bags & Pouches
- Bottles & Jars
- Films & Wraps
- Boxes & Cartons
- Trays
- Cans
- Stick Packs & Sachets
- Other Product Types
Food Packaging Market Assessment - by Application
- Beverages
- Bakery Products
- Dairy Products
- Confectionery Products
- Snacks
- Meat, Poultry, and Seafood Products
- Ready-to-eat Meals
- Pet Food
- Baby Food
- Other Applications
Food Packaging Market Assessment - by End User
- Food Manufacturers
- Food Service Providers
- Packaging Service Providers
- Other End Users
Food Packaging Market Assessment - by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/uzqn0j
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View source version on businesswire.com: https://www.businesswire.com/news/home/20250228915334/en/
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