Food Packaging 2020 Global Market Demand, Growth Opportunities and Top Key Players Analysis Report

Food Packaging Market 2020

Food Packaging offers a maximum level of protection to food and improves the life span of the product. Besides, good quality packaging always attracts a greater number of customers. That’s why more and more companies are now enhancing their packaging style and quality. It is expected that this packaging market will grow dramatically during the forecast period due to the growing number of production facilities with an objective of capture substantial market shares.
On the other side, continuous changes in people’s lifestyle and food preferences, along with the increasing population in different regions, will drive the market growth from 2017 to 2023. Experts have also predicted that the growing choice of the consumer for processed food following the enormous shifts in population from rural to urban areas will also drive the growth of the market.

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Some other major driven factors are a trend of people shifting towards specialty food, the adoption of various marketing strategies by prominent companies in this market, growing demand for better quality product packaging materials, advancement in materials used for packaging, and increasing awareness among the consumers about the importance of good packaging. The introduction of different kinds of food packaging types will further drive the market.
Leading Market Players

The top companies who are dominating the Food Packaging market are Coveris Holdings S.A (Luxembourg), Amcor Limited (Australia), The Smurfit Kappa Group plc (Republic of Ireland), International Paper Company (U.S.), Bemis Company, Inc. (U.S.), Silgan Holdings Inc. (U.S.), E. I. du Pont de Nemours and Company (U.S.), RockTenn Company (U.S.), Mondi Plc (Austria), and D.S. Smith Plc. (U.K.).

Global Market Segmentation
Based on rat material, this market is categorized into Plastic, Glass, Metal, and Paper & Paperboard.

Considering the type, it is segmented into Pouches, Boxes, Bottles, and Cans. Among all these, boxes are accounted for the maximum revenue generator during the forecast period. These are made of high-quality corrugated paper and have a greater level of durability. These are perfect for packaging food products. After boxes, pouches will drive the market as they give design flexibility to manufacturers.

Based on the application, the market is split into Dairy, Meat, Bakery & Confectionery, and Fruits & Vegetables.
The busy lifestyle of people has increased the demand for frozen foods in the market. So, meat food is the leading application segment in this market.

Geographical Market Segmentation
The geographical segmentation of the Global Food Packaging Market includes North America, Europe, Asia Pacific, and Rest of the World. The report says the North America region is expected to dominate the market, followed by the Asia Pacific and Europe region. The developing countries in the Asia Pacific, such as India, China, and Japan are exhibiting massive growth and is expected to take over the countries of the North America region.

Latest Marker Updates
International Paper has agreed with West Coast Paper Mills Limited to sell the interest in International Paper APPM Limited. Talking about International Paper, it has around 30 million shares of International Paper.

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