A latest report from Absolute Markets Insights covers insights into the global Food Packaging market. This comprehensive report offers insights into the market, models and drivers of business growth. Also includes Food Packaging market share, sales volume and education charts. Research analysts have combined important and additional information, such as commitments from market leaders, into a well-crafted report. This report is an essential insight into strategies and information and is primarily aimed at business leaders. The main objective of this Food Packaging report is to provide industry knowledge and help our clients achieve natural growth in their respective fields. The Food Packaging report also shows a new uptrend that includes market conditions and market forecast 2022-2030.
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Some of the major players operating in the global Food Packaging market include: Amcor Ltd, AmeriPak, Inc., Beam Suntory, Berry Plastics, Cargill Inc., ConAgra Foods, DS Smith PLC, Georgia Pacific Corporation, Impact Plastics, INX International Packaging, Kelloggs Co, Kraft Foods, PepsiCo and Tetra Pak amongst others.
The global food packaging market revenue stood at US$ 950.29 billion in 2022 and is expected to grow at a CAGR of 4.62% during the forecast period of 2022 – 2030.
The competitive landscape of the market study contains a broader analysis of the regions including North America, Europe, Asia-Pacific, Middle East and Africa, Latin America, which are expected to capture the essence of the market in its broadest category. The list encompasses significant players who manage the sector based on the system’s overall production capabilities, environmental contributions, appropriate channels, and territorial proximity through a system of primary and secondary research methodologies followed by an in-house analytical model. Furthermore, the generated income and a generalized market share for the market is presented with the help of graphs, charts and tables.
Furthermore, the report also contains important collaborations, mergers and acquisitions, key market trends and business policies are evaluated. The study contains primary and secondary information pertaining to the Food Packaging Market in terms of its global status, market size, growth forecasts, trends, segments, and a detailed forecast.
Key insights from the report:
- The report provides key statistics on the market status of Food Packaging Manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
- The report provides a basic overview of the industry, including its definition, applications and manufacturing technology.
- The report features the company profile, product specifications, capacity, production value and market share 2022-2030 for the top vendors.
- The total market is further divided by company, by country and by application/type for the analysis of the competitive landscape.
- The report then estimates the 2022-2030 market development trends of the P2P Loans industry.
- Analysis of upstream raw materials, downstream demand and current market dynamics is also performed.
- The report makes some important proposals for a new project of Food Packaging Market before evaluating its feasibility.
Covid-19 cumulative impact:
This study presents insights into COVID-19 on consumer behavior and changes in demand, purchasing patterns, supply chain reorganization, dynamics of market forces, and substantial government involvement. The new research provides insights, analysis, estimates and predictions in light of the effect of COVID-19 on markets. The Food Packaging Market report provides a solid observation on the prominent players in terms of strategic analysis, micro and macro market trends and opportunities, pricing trends, and a generalized overview of the market. The Food Packaging Market is a detailed study packed with primary and secondary market factors, market share, leading segments and a proper geographic analysis.
Key questions answered in this report:
- What will the market size and growth rate be in 2030?
- What are the key drivers of the global market?
- What are the key market trends impacting the growth of the global market?
- What are the market growth challenges?
- Who are the key vendors in the global market?
- What are the global market opportunities and challenges for sellers?
- What are the key findings of the global five-point analysis of the Food Packaging market?
Food packaging protects the quality of food and expands the shelf life during each phase of the food chain in order to ensure the quality of fresh produce. Food packaging are available in many distinct forms, depending on technical demands across the supply chain, marketing requirements and other essential criteria. Plastic, glass, paper and paperboard, metal and wood are among the widely used food packaging materials. Among the available packaging materials, plastic packaging materials are prominently used in the food packaging market. Various polymer materials are combined to make the final plastic food packaging. Paper and paperboard food packaging is also gaining momentum owing to their recyclable properties. Prominent example for such packaging include pizza boxes, beverages cartons and carriers and frozen food packaging amongst others.
Population growth is causing exponential demand for food which is fueling growth in the food and agriculture sector. The adherence to certain compliances has been mandated for agribusiness companies and food packaging industries alike. The stringent regulatory frameworks regarding food packaging across the verticals are driving the growth of the global food packaging market. The Global Food Safety Initiative (GFSI) is an industry-driven global collaboration to advance food safety. GFSI strives for continuous improvement in food safety management systems around the world. All food packaging companies complying and attaining GFSI-benchmarked food safety audits, are accepted by global food manufacturers as well as retailers and suppliers. In addition, the FSSC 22000 certification scheme of the International Standards Organization (ISO) is designed to provide the accreditation of food safety management systems to businesses working in the food industry.
Rapid urbanization is augmenting the number of middle-class populations with increased purchasing power in developing countries. This dynamic shift in population is creating huge demand for processed and packaged food materials.
Growing awareness among consumers regarding environmental issues is compelling manufacturers to use food packaging technologies which are either bio-degradable or environment friendly. Over the years, there have been significant technological breakthroughs in the field of food packaging such as sterile food processing and packaging, flexible and reusable containers, microwaveable materials, intelligent and recyclable packaging systems, etc. Moreover, demand for prolonged shelf life of food products and reduction in environmental waste is gaining momentum worldwide. For instance, European commission has set a target to reduce food waste by 50% and recycle 75% of packaging materials, by 2030. Similar initiatives are being undertaken across difference countries globally, thus offering potential growth opportunity for food packaging market over the forecast period.
Sustainable food packaging alternatives over plastic based packaging materials help protect environment. Potato and whey coated cartons are good biodegradable replacement. Research is being carried out to develop food packaging which can control or speed up the composting time. Tetra Pak, the global food packaging company, uses sustainable food packaging cartons to contribute to low carbon circular economy. Its sustainable packages are entirely made up of renewable or recyclable materials without compromising on food safety requirements. Food manufacturers are largely opting for similar packaging materials, thus attributing to the growth of food packaging market.
Meat industry is among the most lucrative application in the food packaging market. Increasing health awareness has led to rise in the consumption of protein-rich diet among consumers. Meat and sea food, which are among the prominent food products in this category, require specific packaging solution, so as to ensure product’s safety and freshness along with increasing their shelf life. Thus, the shift of consumer’s food preferences is estimated to further supplement the growth of food packaging market.
The usage of certain derivatives of plastic polymers for food packaging such as Polycarbonate and PVC are harmful. It can release Bisphenol A (BPA), a chemical that may cause serious health problems. Furthermore, improper food packaging causes premature spoilage of perishable food commodities leading to tremendous wastage of food. These factors are collectively restraining the market growth. However, the introduction of nano technology based intelligent food packaging is being used to overcome the food wastage issues. Smart nano sensors instantly detect leakage in the packaging and temperature variations over time. The growing adoption of such technologies in food packaging market is expected to help in overcoming the challenges, thus promoting industry’s growth.
Global Food Packaging Market Segmentation:
Global Food Packaging Market, By Packaging Material (Plastic, Glass, Metal, Wood, Paper &Board, Others); By Type (Bottles, Cartons, Sachets, Boxes, Cans, Others); By Application (Dairy Products, Meat & Seafood, Bakery & Confectionary, Fruits & Vegetables, Beverages, Others); By Region (U.S., Canada, Mexico, Rest Of North America, France, The UK, Spain, Germany, Italy, Nordic Countries, Benelux Union, Rest Of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia, Rest Of Asia Pacific, Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest Of Middle East & Africa, Brazil, Argentina, Rest Of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends And Forecast, 2022 – 2030
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