Food Packaging Market Size, Industry Growth, Share, Global Report Analysis, 2032 | Growing at a CAGR of 6.05% during the forecast period

The global food packaging market size was valued at USD 479.73 billion in 2023 and is projected to grow from USD 505.27 billion in 2024 to USD 808.40 billion by 2032, growing at a CAGR of 6.05% during the forecast period. Asia Pacific dominated the food packaging market with a market share of 32.65% in 2023.

Food packaging is used to protect food from damage and pest attacks during sale and transport. The growth in the food packaging industry can be attributed to the increasing adoption of intelligent packaging techniques to cater to the changing needs of consumers.

Fortune Business Insights™ provides this information in its research report, titled "Food Packaging Market Size, Growth, Report Analysis, 2024-2032".

𝑮𝒆𝒕 𝒂 𝑭𝒓𝒆𝒆 𝑺𝒂𝒎𝒑𝒍𝒆 𝑹𝒆𝒔𝒆𝒂𝒓𝒄𝒉 𝑹𝒆𝒑𝒐𝒓𝒕 - https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/food-packaging-market-101941

Competitive Landscape:

Key Participants Strike Partnerships to Increase Product Reach

Prominent players operating in the market have adopted various strategies such as mergers, collaborations, and partnerships with an aim to expand their customer base. Additional steps include research initiatives, the launch of new products, and R&D expenditures.

Food Packaging Industry Development:

February 2023 - AmSty, a leading polystyrene company in North America, joined hands with Pactiv Evergreen, a renowned manufacturer of fresh food and beverage packaging. Their joint effort was focused on delivering innovative foam polystyrene packaging products to customers.
List of Key Players Mentioned in the Report:

Mondi Group (Austria)
Amcor plc (Switzerland)
Berry Global Inc. (U.S.)
Stora Enso (Finland)
Constantia Flexibles (Austria)
Plastipak (U.S.)
Tetra Pak International S.A. (Switzerland)
DS Smith (U.K.)
Crown Holdings, Inc. (U.S.)
ExxonMobil Chemical (U.S.)
Coveris Group (U.K.)
Food Packaging Market Segmentation:

Plastics Segment Dominates the Market due to Its Valuable Properties

On the basis of material, the market is segregated into metal, paper & paperboard, plastics, wood, and glass. The plastic segment holds the largest share due to its essential properties such as lightweight nature, flexibility, economic viability, and resistance to splintering.

FlexibleSegment Accounts for Major Share Owing toTechnological Advancement and Innovation

In terms of product type, the market is divided into semi-rigid, flexible, and rigid. The flexible segment leads the market due to the continuous progress in technology and the introduction of innovative packaging solutions. These advancements lead to more efficient and effective packaging options, meeting evolving product packaging needs.

Bags and Pouches Segment Holds Key Share Due to its Lightweight Nature

Based on the packaging type, the market is fragmented into films & wraps, stick packs & sachets, bottles & jars, boxes & cartons, cans, trays, clamshells, bags & pouches, and others. The bags and pouches segment commands the key share of the market due to their ability to maintain product integrity and are easy to reseal, lightweight, and convenient to carry.

Bakery & Confectionery Segment to Dominate Owing to Rising Consumer Demand for these Products

In terms of application, the market is divided into bakery & confectionery, dairy products, meat, poultry & seafood, sauces, dressings & condiments, fruits & vegetables, and others. The bakery & confectionery segment is touted to lead the segment. This is driven by the rising consumption of bakery and confectionery items such as croissants, pastries, toffees, chocolates, and candies among consumers.

Full-Service Restaurants Segment Leads the Market Driven by Rising Demand for Healthier Choices and Creative Presentation

In terms of end-user, the market is fragmented into cafe & kiosks, full-service restaurants, chain restaurants, and quick-service restaurants. Full-service restaurants segment maintains its leadership due to the rising demand for healthier menu offerings and visually appealing food presentation.

In terms of region, the market is categorized into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.

𝑮𝒆𝒕 𝒂 𝑸𝒖𝒐𝒕𝒆 - https://www.fortunebusinessinsights.com/enquiry/get-a-quote/food-packaging-market-101941

Food Packaging Market Report Coverage:

The report gives a comprehensive analysis of the leading factors favoring the industry growth over the coming years. It focuses on key aspects such as product type, modality, and leading companies. The report further provides insight into the major trends boosting the global business scenario. The impact of the COVID-19 pandemic on market growth is also included in the report.

Drivers and Restraints:

Increased Demand for Convenience Foods to Spur Market Growth

The increasing demand for ready-to-eat snacks and convenience foods due to sedentary lifestyles is driving the need for efficient food packaging solutions. Rising per capita disposable income and an expanding working population contribute significantly to market expansion, as consumers seek convenient and packaged food options.

However, the volatile prices of essential raw materials, especially plastics, affect the industry's stability.

Regional Food Packaging Market Insights:

Asia Pacific to Dominate due to Rising Development of Retail Infrastructure

Asia Pacific is set to dominate the food packaging market share over the forecast period. The ongoing expansion and development of retail infrastructure in the Asia Pacific region is providing more avenues for consumers to access packaged food products, driving market growth.

North America holds the second-largest share in the market. The growing awareness of healthy lifestyles among consumers in North America is leading to an increased preference for higher-quality packaged food products, supporting the growth of the food packaging market.

𝑹𝒆𝒂𝒅 𝑴𝒐𝒓𝒆 𝑰𝒏𝒇𝒐𝒓𝒎𝒂𝒕𝒊𝒐𝒏 - https://www.fortunebusinessinsights.com/industry-reports/food-packaging-market-101941

Detailed Table of Content Research Report, 2024-2032
1 Market Overview

2 Market Upstream and Downstream Analysis

3 Players Profiles

5 Global Sales, Revenue, Price Trend by Type

6 Global Market Analysis by Application

7 Global Market Sales and Revenue Region Wise (2017-2022)

8 Global Market Forecast (2024-2032)

9 Industry Outlook

10 Research Findings and Conclusion

11 Appendix

Continued…

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