The global food packaging market size is expected to reach USD 411.3 billion by 2025, according to
a new report by Grand View Research, Inc., registering a CAGR of 5.1% during
the forecast period. Rising demand for convenience foodstuff owing to lifestyle
changes and altering eating habits is anticipated propel the growth of the
global market.
The industry exhibits
rapid growth for single-serve and portable food packs. Increasing purchasing
power of buyers owing to rising per capita income is expected to boost growth.
Furthermore, increasing urban population and attraction toward ready-to-eat
meals by consumers is expected to escalate industry growth.
The industry is expected to be restrained
by high volatility observed in prices of raw materials. In addition, introduction
of sustainable packing materials by major manufacturers, coupled with
increasing consumption volume by buyers, is expected to provide an impetus to
industry growth over the next few years.
Rising concerns of consumers regarding
contamination and food safety is predicted to bolster demand for effective
packaging solutions. In addition, increasing number of retail chains is
anticipated to propel sales of packaged foodstuff, consequently driving demand
for packaging material. Surge in demand for food delivery services is also
expected to have a positive impact on the industry.
Rising inclination toward innovation in
environment-friendly and sustainable packing is an emerging trend in the
industry. Emergence of new and innovative packing types and technologies is
expected to boost industry growth across the globe. Players also insist on
investing in development of cost-effective, lightweight, and high performance
packing materials.
Access Research Report of Food Packaging
Market @ https://www.grandviewresearch.com/industry-analysis/food-packaging-market
Further key findings from the report suggest:
· Flexible packaging is expected to register
the highest CAGR of 5.9% in terms of revenue from 2018 to 2025, owing to its
cost-effectiveness, high performance, and constant innovations undertaken by
major manufacturers
· Plastic packaging is estimated to be the
fastest growing segment, exhibiting a volume-based CAGR of 6.2% from 2018 to
2025, owing to its superior properties leading to better performance attributes
of the material
· Bakery and confectionary is anticipated to
be the largest application, which recorded a market value of USD 74.8 billion
in 2017, in a view of growing demand for cakes, candies, and frozen
ready-to-eat bakery products
· The market in Asia Pacific is expected to
reach a value of USD 166.7 billion by 2025 on account of growing population,
increasing urbanization, and rising disposable income of consumers
· The industry is characterized by presence
of large number of players and is highly fragmented. Key players comprise Amcor
Ltd., Ball Corporation, Georgia Pacific Corporation, and DS Smith PLC.
Grand View Research has segmented the
global food packaging market report on the basis of type, material,
application, and region:
Food Packaging Type Outlook (Volume, Kilotons;
Revenue, USD Billion, 2014 - 2025)
·
Rigid
·
Semi-rigid
·
Flexible
Food Packaging Material Outlook (Volume,
Kilotons; Revenue, USD Billion, 2014 - 2025)
·
Paper & Paperboard
·
Plastics
·
Metal
·
Glass
·
Others
Food Packaging Application Outlook (Volume,
Kilotons; Revenue, USD Billion, 2014 - 2025)
·
Bakery & Confectionary
·
Dairy Product
·
Fruits & Vegetables
·
Meat & Seafood
·
Sauces & Dressing
·
Others
Food Packaging Regional Outlook (Volume,
Kilotons; Revenue, USD Billion, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
