Food Packaging Market to Expand at a 5.3% CAGR, Exceeding US$ 563.0 Bn By 2032 | Key Players - Mondi Group, Tetra pak, Plastipak

As per Future Market Insights, the demand in the food packaging market is driven by rising need for packaged food and stringent government policies regarding packaging. Hence, end users in developing economies are switching from unpackaged to packaged foods. Consumption of packaged products with a longer shelf life is surging due to rising health consciousness and awareness about the importance of eating fresh food.

With demand for convenience foods on the rise, the sales in food packaging market are expected to reach US$ 335.9 Bn by 2022. As packaged and processed meals are simple and quick to prepare, the worldwide packaged and processed food business is expected to increase significantly in the coming years.

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Key Takeaways from Food Packaging Market

· The food packaging market is expected to grow by ~1.7x its current value, surpassing US$ 563 Bn by 2032.

· Based on packaging type, the flexible food packaging market is estimated to dominate the market throughout the forecast period.

· Dairy product is expected to remain top item in food packaging market and estimated to grow by 1.7x.

· South Asia food packaging market is predicted to account for roughly 26% of the worldwide market share during the forecast period.

"With increasing workhours food behaviour of consumers are shifting which will help the market to grow. To capitalize on this trend, key players re focusing on innovation and redesigning of food packaging to keep the product fresh for a longer duration will be essential to be in the market." comments FMI Analyst

Food Packaging Market Landscape

Mondi Group, Berry Global Group, Tetra pak, Amcor plc, DS Smith plc, Stora Enso, Plastipak, Crown Holdings Inc., Graham Packaging Company, Sealed Air Corporation, Westrock Company, Ball Corporation, International Paper Company, Constantia Flexibles Group GmbH

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Food packaging Market by Category-

By Material:
Plastic
Paper
Metal
Glass

By Packaging Type:
Flexible Food Packaging
Bags & Pouches
Films & Wraps
Labels
Stick Pack & Sachets
Others
Rigid Food Packaging
Bottles & Jars
Boxes & Cartons
Cans
Trays
Cups & Tubs
Clamshells
Others

By Application:
Ready-to-Eat Meals
Dairy Products
Bakery & Confectionery Products
Fresh Produce Products
Meat, Seafood and Poultry
Sauces, Dressings and Condiments
Other Food Products

By Region:
North America
Latin America
Europe
Middle east and Africa
East Asia
South Asia
Oceania

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Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Product Innovation / Development Trends

4. Key Success Factors

4.1. Product Adoption / Usage Analysis

4.2. Product USPs / Features

TOC Continued…

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How will Food Packaging Market Benefit from Next-Gen Smart Packaging Revolution?

Smart packaging is offering value added ways to package product, providing cost effective packaging solutions to monitor environmental conditions of the food products in the supply chain. Smart packaging is a combination of active and intelligent packaging that offers dual benefit of quality assurance and consumer interaction.

Inclusion of antimicrobials, antioxidants, moisture absorbers, MAP, VAP, and others in the packaging is rapidly increasing to delay ripening of the food products and prolong shelf life by reducing microbial growth. Hence, demand for the active food packaging is surging.

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This release was published on openPR.