Food Packaging Market Size, Share, Forecast, & Trends Analysis by Material (Plastic, Metal, Glass), Packaging Type (Rigid, Flexible), Product Type, Application (Bakery Products, Dairy Products, Snacks, Meat Products, RTE Meals)—Global Forecast to 2031

Food Packaging Market Size, Share, Forecast, & Trends Analysis by Material (Plastic, Metal, Glass), Packaging Type (Rigid, Flexible), Product Type, Application (Bakery Products, Dairy Products, Snacks, Meat Products, RTE Meals)—Global Forecast to 2031

The Food Packaging Market to Reach $698.4 Billion by 2031, at a CAGR of 5.9% from 2024 to 2031

According to a new market research report titled ‘Food Packaging Market Size, Share, Forecast, & Trends Analysis by Material (Plastic, Metal, Glass), Packaging Type (Rigid, Flexible), Product Type, Application (Bakery Products, Dairy Products, Snacks, Meat Products, RTE Meals)—Global Forecast to 2031’ published by Meticulous Research®, the food packaging market is projected to reach $698.4 billion by 2031, at a CAGR of 5.9% during the forecast period 2024–2031. The report provides an in-depth analysis of the food packaging market across five major regions, emphasizing current market trends, market sizes, recent developments, and forecasts till 2031.

Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report provides an impact analysis of the key market drivers, restraints, opportunities, challenges, and trends.

The growth of the food packaging market is driven by the growing demand for convenience food products, the increasing demand for convenient & portable packaging solutions, the rising demand for food products with extended shelf life, and high growth in the retail sector. However, food packaging materials’ susceptibility to degradation and fluctuations in raw material prices restrain market growth.

Moreover, the growing emphasis on eco-friendly packaging & recyclability and innovation in packaging technology are expected to create market growth opportunities. However, stringent regulatory requirements pose a significant challenge to the market’s growth.

The key players operating in the food packaging market are Amcor plc (Australia), Smurfit Westrock plc (Ireland), Mondi plc (U.K.), Berry Global Group, Inc. (U.S.), Sealed Air Corporation (U.S.), Ball Corporation (U.S.), Tetra Pak International SA (Switzerland), Schur International Holding A/S (Denmark), Anchor Packaging LLC (U.S.), Crown Holdings, Inc. (U.S.), International Paper Company (U.S.), Graham Packaging Company Inc. (U.S.), Borealis AG (Austria), and B.C. Jindal Group (India).

Based on material, the food packaging market is segmented into plastic packaging, paper & paper-based packaging, metal packaging, glass packaging, and other packaging materials. In 2024, the plastic segment is expected to account for the largest share of 43.3% of the food packaging market. The large share of this segment is mainly attributed to technological advancements, including the development of biodegradable plastics and the increasing demand for lightweight packaging.

Based on packaging type, the food packaging market is segmented into flexible, rigid, and semi-rigid packaging. In 2024, the flexible segment is expected to account for the largest share of 46.6% of the food packaging market. The large market share of this segment is attributed to the increasing adoption of flexible packaging due to its advantages, including convenience, sustainability, cost-effectiveness, versatility, and extended shelf life of food products.

Based on product type, the food packaging market is segmented into bags & pouches, bottles & jars, films & wraps, boxes & cartons, trays, cans, stick packs & sachets, and other product types. The films & wraps segment is projected to register the highest CAGR of 7.1% during the forecast period 2024–2031, mainly due to the growing consumption of convenience foods, growth of the food service and food & grocery delivery sectors, and a shift from rigid to flexible packaging.

Based on application, the food packaging market is segmented into bakery products, confectionery products, dairy products, snacks, beverages, meat, poultry, and seafood products, pet food, baby food, ready-to-eat meals, and other applications. In 2024, the beverages segment is expected to account for the largest share of 24.3% of the food packaging market. The segment’s large market share can be attributed to the growing demand for ready-to-drink beverages and the increasing focus of beverage manufacturers on brand identity, continuous innovation, and new product development.

Based on end user, the food packaging market is segmented into food manufacturers, food service providers, packaging service providers, and other end users. The food service providers segment is projected to register the highest CAGR of 7.1% during the forecast period. The segment’s growth is primarily driven by the increasing number of food service outlets, the rising consumption of ready-to-eat meals and fast food, and the growing penetration of E-commerce.

An in-depth geographic analysis of the market provides detailed qualitative and quantitative insights into five major regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. Asia-Pacific is expected to witness significant growth during the forecast period 2024–2031, mainly due to growing government support for the food processing sector and rising disposable incomes in the region.

Key Questions Answered in the Report:

What is the current revenue generated in the food packaging market globally?
At what rate is the demand for food packaging solutions projected to grow over the next 5–7 years?
What are the historical market size and growth rate of the food packaging market?
What are the major factors impacting the growth of this market at the regional and country levels?
What are the major opportunities for existing players and new entrants in this market?
Which segments in terms of material, packaging type, product type, application, and end user are expected to create traction for the manufacturers in this market during the forecast period 2024–2031?
What are the key geographic trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the food packaging market?
Who are the major players in the food packaging market? What are their specific product offerings in this market?
What are the recent strategic developments in the food packaging market? What are the impacts of these strategic developments on the market?

Scope of the Report:

Food Packaging Market Assessment—by Material
Plastics
Non-biodegradable Plastic Packaging
Low-density Polyethylene (LDPE) Packaging
High-density Polyethylene (HDPE) Packaging
Polyethylene Terephthalate (PET) Packaging
Polyvinyl Chloride (PVC) Packaging
Polystyrene (PS) Packaging
Polypropylene (PP) Packaging
Other Non-biodegradable Plastic Packaging
Biodegradable Plastic Packaging
Starch-based Plastic Packaging
Polylactic Acid (PLA) Packaging
Cellulose-based Plastic Packaging
Poly-3-Hydroxybutyrate (PHB) Packaging
Polyhydroxyalkanoates (PHA) Packaging
Other Biodegradable Plastic Packaging
Paper & Paper-based Packaging
Metal Packaging
Glass Packaging
Other Packaging Materials
Food Packaging Market Assessment—by Packaging Type
Flexible
Rigid
Semi-rigid
Food Packaging Market Assessment—by Product Type
Bags & Pouches
Bottles & Jars
Films & Wraps
Boxes & Cartons
Trays
Cans
Stick Packs & Sachets
Other Product Types
Food Packaging Market Assessment—by Application
Beverages
Bakery Products
Dairy Products
Confectionery Products
Snacks
Meat, Poultry, and Seafood Products
Ready-to-eat Meals
Pet Food
Baby Food
Other Applications
Food Packaging Market Assessment—by End User
Food Manufacturers
Food Service Providers
Packaging Service Providers
Other End Users
Food Packaging Market Assessment—by Geography
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Spain
Netherlands
Rest of Europe
Asia-Pacific
China
Japan
India
Japan
Australia
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Argentina
Rest of Latin America
Middle East & Africa
United Arab Emirates
Saudi Arabia
South Africa
Rest of Middle East & Africa

Food Packaging Market - Report Summary

Report Metrics	Details
Years Considered	2016 - 2021
Base Year	2023
Forecast Period	2024-2031
Page Count	345
Units Referenced	Value (USD Million)
Segments/Key Topics	Market by Material, Packaging Type, Product Type, Application, End User, Geography
Regions Covered	Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa
Key Companies Mentioned	Amcor plc (Australia), Smurfit Westrock plc (Ireland), Mondi plc (U.K.), Berry Global Group, Inc. (U.S.), Sealed Air Corporation (U.S.), Ball Corporation (U.S.), Tetra Pak International SA (Switzerland), Schur International Holding A/S (Denmark), Anchor Packaging LLC (U.S.), Crown Holdings, Inc. (U.S.), International Paper Company (U.S.), Graham Packaging Company Inc. (U.S.), Borealis AG (Austria), and B.C. Jindal Group (India)

Report FAQs

What is the focus of the food packaging market study?

The food packaging market study covers the revenue generated from packaging products such as bags & pouches, films & wraps, stick packs & sachets, bottles & jars, boxes & cartons, trays, cans, and other packaging solutions manufactured using various materials. The food packaging market study provides valuable information, including market sizes, forecasts, and insights in terms of value by product type, material, packaging type, application, end user, and geography.

Each segment provides the market sizes & forecasts for five key geographies (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) along with the coverage of key countries in each region.

What is the current revenue generated in the food packaging market? At what rate is the food packaging market projected to grow in the next 5–7 Years?

The food packaging market is projected to reach $698.4 billion by 2031, at a CAGR of 5.9% during the forecast period.

Which is the high-growth application segment of the food packaging market?

The snacks segment is expected to witness the fastest growth during the forecast period 2024–2031.

What are the major drivers for this market?

Growing Demand for Convenience Food Products
Increasing Demand for Convenient & Portable Packaging Solutions
Rising Demand for Food Products with Extended Shelf Life
High Growth in the Retail Sector

What are the major restraints for the food packaging market?

Food Packaging Materials’ Susceptibility to Degradation
Fluctuations in Raw Material Prices

Who are the major players operating in the food packaging market?

The key players operating in the food packaging market are Amcor plc (Australia), Smurfit Westrock plc (Ireland), Mondi plc (U.K.), Berry Global Group, Inc. (U.S.), Sealed Air Corporation (U.S.), Ball Corporation (U.S.), Tetra Pak International SA (Switzerland), Schur International Holding A/S (Denmark), Anchor Packaging LLC (U.S.), Crown Holdings, Inc. (U.S.), International Paper Company (U.S.), Graham Packaging Company Inc. (U.S.), Borealis AG (Austria), and B.C. Jindal Group (India).

Which regions/countries are likely to offer significant growth opportunities for the vendors in this market during the analysis period?

Asia-Pacific is slated to register the highest CAGR of 6.5% during the forecast period 2024–2031, mainly due to growing government support for the food processing sector and food & beverage product manufacturers’ increasing focus on the development of innovative products.