Food Packaging Market Current Trends, Demand and Business Opportunities 2021 to 2025

The Food Packaging Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data. The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The food packaging market was valued at USD 301.3 billion in 2019 and is expected to reach USD 411 billion by 2025, at a CAGR of 5.5% over the forecast period 2020- 2025.

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Top Leading Companies of Global Food Packaging Market are Amcor Plc., Smurfit Kappa Group plc., Mondi Limited, Berry Global Group, Ball Corporation, Tetra Pak, Schur Flexibles Group, Anchor Packaging Inc., Crown Holdings Inc., International Papers, WestRock, Sealed Air Corp., Graham Pac and others.

Industry News and Updates:

- May 2019 - Sealed Air Corporation signed a definitive agreement to acquire Automated Packaging Systems, Inc., a leading manufacturer of high-reliability, automated bagging systems, for a purchase price of USD 510 million on a cash and debt-free basis.
- April 2019 - Amcor Plc. launched Amite Ultra Recyclable, its first packaging product made from the company’s revolutionary, more sustainable high-barrier polyolefin film. It can reduce a pack’s carbon footprint by up to 64%.

Key Market Trends:

Increasing Demand for Shelf-Life Extension of Foods Accelerating the Food Packaging Market

- After packaging, it takes time for packaged food to reach consumers across various parts of the world. The packaged food may not be fresh and might lose its aroma and taste before reaching the consumer. The threat of food being spoilt before reaching the consumer is increasing, as it would result in a loss of the capital invested in the packaging.
- To overcome this, food processing industries are investing in technologies and various new packaging techniques, such as intelligent packaging and engineering science, which help in increasing the shelf life of the product. Organizations are focusing on consumer satisfaction, apart from revenues, as it impacts the image and value in the market.
- According to a survey of American Adults by Consumer Action, in July 2019, 34% of adults have knowledge of most recyclable food packaging material as cardboard, followed by plastic 26%, glass 21%, and metal 8%.
- Increasing health consciousness and awareness regarding consuming fresh food are influencing consumers to opt for packaged products with a longer shelf life. Therefore, rising demand for better shelf life products across countries such as the United States is driving the market growth.

Asia-Pacific to be the Fastest Growing Market

- Asia-Pacific has experienced positive growth in the food packaging market and is estimated to witness significant growth, over the forecast period. The disposable income of consumers in the region has witnessed significant growth, which has increased the standard of living of people in the region.
- The growing urban population in India and China is increasing the demand for food packaging in this region. India and China, together contributed over 70% of the total share of Asia-Pacific share, in 2018.
- The increasing exports of fruits and vegetables in Asia-pacific is increasing the growth of the market. The world imports of fruit and vegetables have increased by 17.6%, imports of fruits and vegetables in the Asia Pacific region increased by a remarkable 51.6%.
- Moreover, in a country such as India, the growing demand for online food ordering is increasing which is pushing the usage of packaged food boxes for the food packaging market.

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Highlights of the Food Packaging Market Report:

– Detailed overview of Food Packaging Market
– Changing the Food Packaging market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, current and projected Food Packaging market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Food Packaging Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth.

The research includes historic data from 2015 to 2021 and forecasts until 2025 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, the Food Packaging Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Food Packaging industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.

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