Global Food Packaging Market by Packaging Type, Material, Application & Region - Forecast 2022 - 2028

Market Overview:
The Global Food Packaging Market was valued at USD 82.99 billion in 2021 and is expected to reach USD 166.52 billion by the year 2028, at a CAGR of 10.46%.

Food packing is the technique of packaging food to guard it against harm, contamination, spoilage, and insect attack during transportation, storage, and retail sales. On the package, details about the product are frequently listed, including its quantity, additives, nutritional value, cooking instructions, shelf life, and others. The food packaging method utilized a range of flexible materials, including foil, plastic, paper, and clothing, to create pouches, bags, bottles, cans, cartons, and trays. Only a few of the packaged foods that are readily available are dairy, convenience foods, confectionary, bakery, vegetables, fruits, meat, and sauces. Food packaging is crucial for safely keeping and transporting food items while preserving their flavour and freshness.

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Market Dynamics:
Driver:
The need for convenience food products is anticipated to increase as a result of evolving lifestyles and new eating patterns, which will help to support overall industry demand. Convenience and the utilization of high-performance materials are anticipated to support industry expansion. The industry is anticipated to grow faster as a result of increased efficiency in the prevention of content contamination and improved shelf-life. Additionally, factors including rising disposable income, declining household sizes, and population growth all contribute to the market growth.

Market Trend:
Growing Demand for Shelf-Life Extension of Foods Fueling the Market
Food that has been packaged takes some time to get to consumers all around the world. Before it reaches the consumer, the packaged food may not be fresh and may have lost its flavour and scent. Food spoilage before it reaches the consumer is becoming a greater risk because it would mean losing the money invested in the packing. To combat this, the food processing industry is investing in novel packaging methods and technologies including intelligent packaging and engineering science, which lengthens the product's shelf life. Apart from profits, businesses are putting more emphasis on customer happiness even though it affects their reputation and market worth.

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Market Segmentation
Packaging Type Insights
By Packaging Type, Food packaging market is segmented into Flexible Packaging, Rigid Packaging, Pouches, Bags, Others. In this segment, Rigid packaging segment is accounted for the largest segment with the market share of 52.12% and estimated to have a market size of USD 69.90 billion in the year 2026 with the CAGR of 10.32%. However, flexible packaging is estimated to grow at a higher CAGR of 10.62% during the forecast period with the estimated Food packaging market size of USD 65.73 billion in the year 2026.
• Rigid
• Semi-rigid
• Flexible

Material Insights
By Material, Food packaging market is segmented into Plastic, Metal, Aluminium, Paperboard, Molded Fibers, Others. In this segment, plastic segment is accounted for the largest segment with more than half of the market share of 32.12% and estimated to have a market size of USD 43.37 billion in the year 2026 with the CAGR of 10.41%. Due to it easy availability and flexibility, this segment is expected to dominate Food packaging market forecast period. Although, environmental hazards caused by the segment might be a restraint during the forecast period.
• Plastic
• Metal
• Aluminium
• Paperboard
• Molded Fibers
• Others

Food Packaging Market, By Application:
• Bakery & Confectionery
• Convenience foods
• Dairy products
• Fruits & vegetables
• Sauces
• Others

Regional Analysis of Food Packaging Market
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, UAE, South Africa)

Players Covered in Food Packaging Market are:
• Amcor Ltd. (Australia)
• Rock-Tenn Company (U.S.)
• Sealed Air Corp. (U.S.)
• Nuconic Packaging LLC (U.S.)
• Tetra Pak International S.A. (Switzerland)
• Crown Holdings Inc. (U.S.)
• Ball Corporation
• Berry Global Inc
• DS Smith PLC
• Genpak LLC
• Huhtamäki Oyj
• Reynolds Group Holdings Limited and Others

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The Food Packaging market report reveals the top competitors as well as their effective market strategies that helped them achieve their goals. It also considers the features and attributes that may influence market sales growth. The analysis contains precise market size, share, production capacity, demand, and growth numbers for the industry for the projected year. The market is fast changing, according to the research report, and the impact is being evaluated in terms of both current position and expected ramifications. The market research report provides type, industry, channel, and other factor information, as well as market volume and value for each segment of the market. The global Food Packaging market research report provides an in-depth analysis of the industry's current and future position. The research report, which was created through rigorous primary and secondary research, provides all necessary market data.

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The Report Covers -
• Full in-depth analysis of the Food Packaging market and Important changes in market dynamics.
• Detailed considerate of Food Packaging market-particular drivers, Trends, constraints, Restraints, Opportunities and major micro markets.
• The report focus on Complete valuation of all prospects and risk.
• In depth analysis of business tactics for development of the Food Packaging market core players.
• Market latest innovations and major procedures.
• the Research focus on Vital changes in market changing aspects, growth, current trends, Competitive Landscape.
• Conclusive study about the growth conspiracy of Food Packaging market for forthcoming years.

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