Food Packaging Market Expanding at a CAGR of 4.3% during 2019-2024 - IMARC Group

Global Food Packaging Market Report, Share, Size, Trends, Growth and Forecast Till 2024

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Report Description

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Report Description and Highlights

Report Description

Food Packaging Market Report By Packaging Type (Flexible Packaging, Paper & Paperboard Packaging, Rigid Plastic Packaging, Glass Packaging, Metal Packaging and Others), Application (Bakery, Confectionery, Dairy Products, Sauces, Dressings, and Condiments, Snacks and Side Dishes, Convenience Foods, Meat, Fish, and Poultry, Fruits and Vegetables and Others), , Region The global food packaging market has witnessed a stable growth over the past few years. The market is being driven by R&D activities by the manufacturers coupled with rising popularity of single-serve packaging which complements on-the-go consumption.

Market Overview: The recently published report by IMARC Group, titled “Food Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the global food packaging market reached a value of US$ 289.5 Billion in 2018. Food packaging represents the largest segment of the global packaging industry. This type of packaging helps in the containment, handling and delivery of a food product to the end-consumer. Food packaging is generally made from glass, plastic, paper, cardboard, metal and wood, and plays a key role in protecting the food items from outside influences and damage. Nowadays, food packaging also provides the consumers with detailed nutritional and ingredient information; offers improved traceability, convenience and tamper indication; and carries promotional items such as gifts, additional products and coupons.

Report Description and Highlights

Report Description

Global Food Packaging Market Trends: The major factor facilitating the growth of the food packaging market is the inflating demand for specialty and packaged foods. The increasing number of dual income households has shifted the eating habits from traditional meals to snacks and frozen meals. Moreover, rural to urban migration, hectic lifestyles and time constraints have resulted in the rising popularity of single-serve packs which complement on-the-go consumption. In addition, the manufacturers are investing in R&D activities so as to improve the shelf-life of the food products along with the barrier property and safety of packaging by using high performance and anti-microbial materials. Apart from this, the demand for sustainable and eco-friendly packaging has also witnessed a surge in recent years on account of rising consciousness among the consumers regarding global warming and environmental pollution. Some of the other factors driving the market growth include emerging online food retail and production facility expansions by the manufacturers. Looking forward, the global food packaging market is projected to reach US$ 372.8 Billion by 2024, expanding at a CAGR of 4.3% during 2019-2024.

Food Packaging Market Segmentation: Market Segmentation by Packaging Type Request for a sample report: https://www.imarcgroup.com/food-packaging-market/requestsample

Market Forecast

Sample Figure: Global: Food Packaging Market Forecast: Sales Value (in Billion US$), 2019-2024

184.3

191.7

199.3

207.3

2019

2020

2021

2022

215.6

224.2

2023

2024

Market Segmentation

Report Description o o o o o o

Flexible Packaging Paper and Paperboard Packaging Rigid Plastic Packaging Glass Packaging Metal Packaging Others

On the basis of type, flexible packaging currently leads the global food packaging market as it offers better protection against air, moisture and light. Other types of food packaging are paper and paperboard, rigid plastic, glass and metal.

Market Segmentation by Application • • • • • •

Bakery, Confectionery, Pasta, and Noodles Dairy Products Sauces, Dressings, and Condiments Snacks and Side Dishes Convenience Foods Meat, Fish, and Poultry

For more information, click here: https://www.imarcgroup.com/food-packaging-market

Market Segmentation

Report Description • •

Fruits and Vegetables Others

Based on application, the major segments include dairy products; bakery, confectionery, pasta, and noodles; snacks and side dishes; sauces, dressings, and condiments; meat, fish, and poultry; convenience foods; fruits and vegetables; and others. Amongst these, the bakery, confectionery, pasta, and noodles segment dominates the market.

Market Segmentation by Region • • • • •

North America Europe Asia Pacific Latin America Middle East and Africa

Region-wise, North America represents the largest food packaging market globally on account of the well-established food processing industry in the region. Other major regions include Europe, Latin America, Asia Pacific, and Middle East and Africa.

Regional Segmentation

North America

Europ e

Asia- Pacific

Latin America

Middle East and Africa

Market Segmentation

Report Description Competitive Landscape:

The competitive landscape of the market has also been examined with some of the key players.

• • • • • • •

Amcor Crown Holdings Owens-Illinois Bemis Tetra Pak American Packaging Corporation Ball

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institutions

Report Description and Highlights

Report Description

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