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A recent report published by Infinium Global Research on food grade packaging market provides in-depth analysis of segments and sub-segments in the global as well as regional food grade packaging market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional food grade 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 grade packaging market. The global food grade packaging market was valued at around USD 355 billion in 2022 and is expected to reach up to more than USD 535 billion by 2030, with a CAGR of over 5% over the forecast period.
Food-grade packaging refers to packaging materials and products that are designed and approved for use in contact with food. This means that the packaging material or product is made from materials that are safe for consumption or use with food products and that it does not introduce any harmful substances or contaminants into the food. Food packaging increases the shelf life of food products. Today it plays an important role in the quality of food products by providing protection from environmental, and physical challenges. This provides 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.
Increasing demand for shelf-life extension of foods accelerating the food grade packaging market. Furthermore, the availability of advanced food packaging materials and technology is expected to support the growth in demand for the packaging food industry. In addition, the visual appeal of packaged food and its convenience for use are expected to boost the market growth over the forecast period. Moreover, growing consumer preference for health and safety is expected to drive the market. Additionally, regulations regarding contamination of foods for food and safety in the U.S., 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. However, the cost of raw materials used in food packaging, such as aluminum, paper, and plastic, can fluctuate due to market conditions which are expected to hamper the market growth. Further, there is a growing demand for sustainable and eco-friendly packaging materials. Innovative packaging materials, such as biodegradable and compostable materials, offer an opportunity for manufacturers to meet this demand and tap into new markets.
The Asia-Pacific region holds the largest market share in the food-grade packaging market due to the large population and changing dietary habits, leading to a growing demand for packaged food products. Further, Countries such as China, India, Japan, and Australia are expected to be the key contributors to the growth of the food-grade packaging market in the Asia Pacific region. These countries have a large population base and are witnessing rapid urbanization and industrialization, which is leading to an increase in the consumption of packaged food and beverages. North America and Europe also hold significant market shares due to the high standard of living and increasing demand for sustainable and eco-friendly packaging solutions.
The report on global food grade 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 Sealed Air, Tetra Pak, Crown Holdings, Inc., Amcor plc, WestRock Company, Ball Corporation, Graham Packaging Company, Smurfit Kappa, Mondi, and Berry Global Inc..
The report provides deep insights into 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 the food grade packaging market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. 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.
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