Food Packaging Market Forecasts to 2028 – Global Analysis By Product (Boxboard, Gusseted Box, Cans, Corrugated Box, Converted Roll Stock, Bottles, Pouches and Other Products), By Type (Flexible, Semi Rigid and Rigid), By Material (Glass, Metal, Plastic, P

Food Packaging Market Forecasts to 2028 – Global Analysis By Product (Boxboard, Gusseted Box, Cans, Corrugated Box, Converted Roll Stock, Bottles, Pouches and Other Products), By Type (Flexible, Semi Rigid and Rigid), By Material (Glass, Metal, Plastic, Paper & Paper Board and Wood), By Application, By End User and By Geography

According to Stratistics MRC, the Global Food Packaging Market is accounted for $362.9 billion in 2022 and is expected to reach $566.3 billion by 2028 growing at a CAGR of 7.7% during the forecast period. Active packaging is the most common packaging strategy used for preserving food products. Food packaging is classified as enclosing food to protect it from tampering or contamination from physical, chemical, and biological sources. Food packaging's major goal is to provide an affordable, effective method of protecting and transporting food products while satisfying the demands and expectations of both customers and industries. Additionally, modern trends like sustainability, limiting the influence on the environment, and extending shelf life have steadily risen to the top of the list of crucial considerations when designing a packaging system.

Market Dynamics

Driver:

Increasing demand for convenience food to aid market growth

Due to its easy transportation, lengthy shelf life, and ready-to-eat quality, convenience food is widely used. Snacks, frozen foods, finger foods, candies, beverages, and other food products are included in this list. These foods are typically served hot in ready-to-eat containers and require less preparation time. The convenience food market is anticipated to grow as a result of an increase in demand for ready-to-eat snacks brought on by sedentary lifestyles. The primary driver of market expansion is also an increase in the working population and per capita disposable income. The majority of consumers are shifting to quickly consumable foods, which will fuel market growth for food packaging.

Restraint

Rapid changing technologies and increase in cost of raw materials

One of the primary raw materials for food packaging is plastic. Synthetic polymers like polypropylene and polyethylene that are produced from natural resources are used to make the plastic packaging. The packaging industry is impacted by the shifting cost of various raw materials. The price of these raw materials is also rising due to laws the government and associations have set around resource conservation, which is limiting the market from expanding. The lack of conveniently available raw materials is a barrier to technological innovation in packaging solutions. Several innovative packaging technologies are becoming expensive due to high raw material costs, and companies are forced to rely on conventional packaging, which has an equal negative impact on the economy and the environment.

Opportunity

Food industry packaging innovation to promote growth

Rising packaging technologies provide an opportunity for market expansion. For the duration of the shelf life, packaging is essential for maintaining food quality and ensuring food safety. Plastic packaging is outstanding for developing creative product solutions. Plastic cling film is one of the many types of plastic packaging that is still used today. The market is being driven by the trend towards environmentally friendly packaging and cutting-edge advances in cling film packaging. This innovation offers a variety of packaging possibilities, including edible and biodegradable packaging, active packaging, nanocomposites, intelligent packaging, and many packaging design options. Various packaging options support increased market accessibility, inventory management, consumer education, improved shelf life, and even the assurance of the food product's safety and quality.

Threat

High skilled manpower

Costly skilled labour is another barrier to market expansion. Rapid technological evolution requires the use of highly skilled labour. Workers with significant training and experience are needed to produce packaging materials. This causes an increase in the price of packaging materials, which is further increased by the high cost of the production process and the high cost of labour. Additionally, only high-income areas where consumers may buy premium packaged foods have access to these materials.

Covid-19 Impact:

The impact of COVID-19 on the worldwide market is less than that of other manufacturing sectors because the food industry was kept under vital services by all countries. Flexible packaging businesses that serve industries like packaged foods might do well during the continuing pandemic. The need for packaged food is being fueled by shifting consumer demand patterns, governmental initiatives, and stockpiling. Several consumers in developing nations like India have switched from unpackaged food to packaged food as a result of the pandemic's increasing threat to food safety. Also, during the outbreak, the emergence of e-commerce shopping and flexible packaging for packaged foods contributed to the increase in domestic packaged food sales. The expansion of the market, however, is being constrained by trade barriers and supply chain disruptions.

The paper & paper board segment is expected to be the largest during the forecast period

Due to its adaptability, eco-friendliness, low carbon emissions, and suitability for use in food packaging, the paper and paperboard segment is expected to hold the largest share of the market during the projection period. However, the main factor in the market is the growing usage of paper in the packaging of various easily eatable foods, fresh vegetables, and beverages. These aspects are driving the segments growth.

The rigid packaging segment is expected to have the highest CAGR during the forecast period

Because of its increasing use in vegetables, fruits, and other readily crushable food products, rigid packaging segment has the highest CAGR among these types over the forecast period. In addition, a shift in consumer lifestyle and rising bread, sausage, and snack consumption, particularly in China, India, Germany, and the U.K., will support industry demand. Nevertheless, the growing number of food retail stores with cutting-edge product launches may stimulate the market and increase the overall size of the market.

Region with largest share

Owing to growing urban population levels and the development of retail infrastructure in the Asia Pacific region, which is anticipated to support the expanding demand for packaged goods in China, Japan, and India, this region had the largest market share during the projection period. Moreover, increasing demand in the region may be driven by consumer demand for inexpensive, easily accessible packaging that is also environmentally friendly. Because there are many factories in the country and a growing market for frozen foods, China is a significant consumer of packaging. Furthermore, consumer expenditure on packaged foods and a better quality of life may increase the market for regional products.

Region with highest CAGR

Asia-Pacific region has witnessed positive growth in the food packaging market and is anticipated to experience profitable growth throughout the projected period as residents of this region are living better because of substantial increases in their disposable income. In addition, the market is growing as a result of increased fruit and vegetable exports to the Asia-Pacific region. The need for creative and useful fruit and vegetable powders and pieces is rising as a result of the massive urbanisation taking place in Asia-Pacific countries. Such cutting-edge ingredients are easy to incorporate into products made by food processing companies, maintaining the original flavour and helping to cook the finished products. Furthermore, in a nation like India, where the need for online meal ordering is rising, packaged food boxes are becoming more and more popular in the food packaging industry.

Key players in the market

Some of the key players in Food Packaging market include Amcor Plc, American Eagle Packaging, Ardagh Group, Ball Corporation, Berry Plastics Group, Constantia Flexibles, Crown Holdings, Inc, DS Smith PLC, Graham Packaging Company Inc., International Papers, Mondi Group, Sealed Air Corporation, Sigma Plastics Group, Tetra Pak International S.A and WestRock.

Key Developments

In August 2022, Seal Packaging introduced fresh eco-friendly packaging options. The first UKCA-marked plastic-free paper cups, the It's Not Paper bag collection, a workable and ecological replacement for conventional paper bags, and the Compostabowl are just a few of the new, creative goods now being introduced.

In June 2022, SIG completed the acquisition of Scholle IPN, a flexible packaging solution provider with an enterprise value of USD 1.53 billion. The acquisition is expected to enable SIG to offer sustainable, low-carbon packaging solutions across a broad range of categories and product sizes.

In February 2022, Coveris announced making the further expansion of its production capacity for stretch and shrink hoods prepared from recycled materials for industrial applications.

In July 2020, Mondi partnered with Austrian meat producer Hütthaler to produce a fully recyclable thermoforming film made from a mono-material for their meat and sausage products. The film is made of a mono-material solution that can be fully recycled and provides a barrier to protect the food and extend its shelf life.

Products Covered:
• Boxboard
• Gusseted Box
• Cans
• Corrugated Box
• Converted Roll Stock
• Bottles
• Pouches
• Other Products

Types Covered:
• Flexible
• Semi Rigid
• Rigid

Materials Covered:
• Glass
• Metal
• Plastic
• Paper & Paper Board
• Wood
• Other Materials

Applications Covered:
• Sauces & Dressings
• Meat, Poultry, & Seafood
• Fruits & Vegetables
• Dairy Products
• Bakery & Confectionary
• Condiments
• Other Applications

End Users Covered:
• Snacks and Side Dishes
• Convenience Food
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements