A recent report ongoing by Infinium Global Research on food packaging market provides in-depth analysis of segments and sub-segments in the global as well as regional food packaging market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional food packaging market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global food packaging market. According to the report, the global food packaging market is projected to grow at a CAGR over the forecast period of 2021-2027.
Food Packaging is an effective method for protecting food against contamination caused due to factors such as biological, chemical, environmental and physical. The food packaging helps in preserving the food during the journey from factory to the end user in the distribution. Food Packaging increases the shelf life of the food products. Today it plays an important role in the quality of food products by providing protection from environmental, and physical challenges. This providing barriers to moisture, oxygen, carbon dioxide, and other gases as well as flavors and aromas. Packaging can block light to protect nutrients in a product from deteriorating. In addition to providing passive protection, many packages today play an active role in the quality of a product by helping to maintain a desired atmosphere around the product.
Growing awareness among consumers about importance of food packaging in developing economies and preference for convenience food products is driving the growth of the market. Furthermore, availability of advanced food packaging materials and technology are expected to support the growth in demand for packaging food industry. In addition, visual appeal of the packaged food and convenience for use are expected to boosts the market growth over the forecast period. Moreover, growing consumer preference for the health and safety, is expected to drive the market. Additionally, regulations regarding contamination of foods for food and safety in the US, Europe and other major economies are likely to have a positive impact on the market over the period. Again, increasing consumer demand for environment-friendly food packaging solutions is expected to drive the demand over the next few years.
North America holds the largest market shares in the food packaging market. Increasing urban population leading to growth in consumption of packaged food and rising popularity of single-serve packs is attributing to the growth of the market in this region. Furthermore, increasing infrastructure for the recycling of plastics, metals, and glass is contributing to the growth of the market. Asia Pacific is growing with a healthy CAGR. The increasing population, rising per capita income, and growing demand in emerging economies such China, Japan, and India is provides a growing demand for the market in Asia Pacific.
The report on global food packaging market covers segments such as materials, food packaging, and applications. On the basis of materials, the sub-markets include paper & board, metal, rigid plastic, flexible plastic, glass, and others. On the basis of food packaging, the sub-markets include rigid, semi-rigid, and flexible. On the basis of applications, the sub-markets include bakery, confectionery convenience foods, dairy products, fruits & vegetables, sauces, dressings and condiments, and others.
The report provides profiles of the companies in the market such as Nuconic Packaging LLC, Sealed Air Corp, Tetra Pak International S.A, Crown Holdings, Inc, Amcor Ltd, Rock-Tenn Company, Ball Corporation, Graham, WestRock India Private Limited Packaging, and Tetra Pak International.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of food packaging market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.