Fig: Global Food Packaging Market by value 2015-2023
Food Packaging Market is an effective method for containing food and for protecting food against contamination caused due to factors such as biological, chemical, environmental and physical. Packaging helps in preserving the food during the journey from factory to the end user in the distribution chain. It increases the shelf life of the food products. Flexible packaging is the largest type of packaging used in the food packaging market globally. The global food packaging market is projected to reach USD X.XX billion by 2023, growing with a CAGR of 3.0% from 2017 to 2023.
Awareness among consumers about importance of food packaging in developing economies and preference for convenience food products are driving the market. Availability of advanced food packaging materials and technology are expected to support the growth in demand for packaging in food industry. Visual appeal of the packaged food and convenience for use are expected to enhance the prospects of players in the market over the forecast period. Moreover, customers’ preference for the health and safety, globally is expected to drive the market. Additionally, new regulations regarding contamination of foods mooted by the government authorities 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 of 2017 - 2023.
The report segments the global food packaging market by applications, end use, materials, type, and region. As per the applications, the food packaging market includes bakery and confectionery; convenience foods; dairy products; fruits and vegetables, meat, fish and poultry; sauces, dressing and condiments and others. On the basis of end use, the market has been segmented into package food manufacturers and suppliers, food trucks, restaurants, and others. As per material, the market is segmented as glass packaging, metal packaging, paper and paperboard, plastics and others. Furthermore, on the basis of type, the market is segmented into flexible packaging, rigid packaging and semi rigid packaging.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific region and European region have greater share in the global food packaging market. Asia-Pacific region is projected to grow at the fastest CAGR over the forecast period owing to rapid economic growth in China and India. Moreover, the increasing population in these countries and increase in demand for healthy food products are expected to drive the food packaging market in this region. Markets in the North America and Western Europe regions have attained maturity and the demand is for functional packaging in processed food segments is likely to be a trend in these markets. Brazil drives the Latin American market with its thriving exports of various food products. Emerging economies are expected to provide the opportunities for the major industry players in food packaging to develop small-medium segment over the period of 2017 - 2023. Major players in the food packaging market are investing heavily in research and development, to bring innovative products that provide ease of operation, and convenience for the consumers. These innovations are expected to provide opportunities for major players in the industry in the near future.
The companies covered in the report include, Amcor Ltd, Berry Plastics, Con Agra Foods Inc, CKS Packaging, INX International Packaging, McCain Foods, Phoenix Closures, Rock-Tenn Company, Südpack Verpackungen, Tetra Pak.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of food packaging market both globally and regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on 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 value chain analysis of food packaging market. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the food packaging market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market.
The report also provides in depth analysis of regulatory framework pertaining to Food Packaging Market . This will help the companies to understand the regulatory compliance, supports, barriers in the Food Packaging Market. This section highlights key amendments and their implication on Food Packaging Market in the short run as well as in the long run.
This report will help manufacturers, suppliers and distributors of the food packaging market to understand the present and future trends in this market and formulate their strategies accordingly.