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Food Packaging Market Size, Share & COVID-19 Impact Analysis, By Materials (Glass, Metal, Paper & Paperboard, Wood, and Plastics [Polypropylene, Polyethylene, PET, and Others]), By Product (Rigid, Semi-Rigid, and Flexible) By Application (Fruits & Vegetables, Bakery & Confectionery, Dairy Products, Meat, Poultry & Seafood, Sauces, Dressings and Condiments, and Others), and Regional Forecast, 2020-2027

Region : Global | Format: PDF | Report ID: FBI101941

 

KEY MARKET INSIGHTS

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The global food packaging market size was USD 304.98 billion in 2019 and is projected to reach USD 463.65 billion by 2027, exhibiting a CAGR of 5.9% during the forecast period.

COVID-19 Cover

This report covers COVID-19 impact analysis on Food Packaging Market

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Food is an indispensable elementary component of day to day life. According to the World Packaging Organization (WPO), the revenue of the global packaging industry is over USD 500 billion. Sustainability, convenience, efficiency, traceability, counterfeit protection, and flexibility are the parameters associated with packaging solutions. For consumers, easy-to-use and sustainable packaging is becoming a priority now than ever before.


Rising consumer demand for packaged food due to shift in eating habits and evolving lifestyles may have an imperative impact on this market. Rise in per capita disposable income and growing population shall aid in the product demand owing to high barrier properties, shelf life, and consumer safety.


There is a growing demand for natural and high‐quality foods, which are minimally processed or non-processed, do not contain preservatives, and offer longer shelf-life. Food packaging is used for various applications such as packaging of fruits & vegetables, dairy products, meat, poultry and seafood, sauces, dressings, and condiments. Packaged food is used for various purposes such as barrier and contamination protection, convenience, and portion control. Sustainable packaging addresses food waste and loss reduction by safety issues by preventing food-borne diseases, chemical contamination, and preserving food quality.


Impact on Food Packaging Market due to COVID-19 Outbreak


The global packaging market is vast and mature, where most of the investors are heavily investing in the packaging business during the pandemic. However, the packaging industry has had low exposure to coronavirus outbreak. Packaging companies serving the sectors like food, personal care, beverages, and pharmaceutical are expected to do well in the present situation, with changing demand patterns, government measures, and stockpiling may lead to a growing demand for the products.


Increasing demand for packaging materials in the food industry and shelf-ready packaging for the grocery sector has driven the retailers to meet the growing consumer demand and to restock the shelves. The foodservice business must reconsider using refillable and reusable items that could minimize the spread of the virus. The shift in consumer and retailer preferences towards pre-packaged items mainly fruits & vegetables has increased amid the COVID-19 outbreak.


LATEST TRENDS


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Packaging Innovation in the Food Industry to Favor Growth


The rising innovations in packaging solutions hold an opportunity for food packaging market growth. Packaging plays an important role in preserving food quality and guaranteeing food safety for the duration of the shelf life, and plastic packages are very useful in achieving the innovative product solution. Among various plastic packaging kinds, plastic cling film is a widely used plastic packaging today. The shift towards eco-friendly packages, along with advanced innovations in the cling film packaging, is shaping the market.


This innovation includes a wide range of packaging options, that includes intelligent packaging, active packaging, nanocomposites, edible/biodegradable packaging, and different types of packaging design. These packaging solutions help in increased market availability, inventory control, consumer education, and improved shelf life, and even ensures the safety and quality of the food product. Active packaging is an exceptional solution for wide range of applications within the food industry, owing to its longer shelf life, thus reducing food wastage. Nanotechnology is a newly developing methodology that can minimize spoilage, increase food shelf life, repair the tears in packaging, ensure food safety, reduce the food shortage problem, and improve consumer health.


DRIVING FACTORS


Rising Demand for Convenience Food to Aid Market Growth


Convenience food is majorly used due to easy portability, long shelf life, and ready to eat. These food items consist of snacks, frozen food, finger food, candy, beverages, and others. These products usually require less preparation time and are served hot in ready-to-eat containers. Rising demand for ready-to-eat snacks owing to a sedentary lifestyle is expected to fuel growth in convenience food market. Additionally, rising per capita disposable income with an increasing working population is the key factor driving market growth. Most consumers are switching towards readily edible food which will lead to this market growth. 


Nowadays, due to the fast-moving lifestyle of consumers, there has been an increasing demand for fast food items. This high demand has caused convenience food makers to come up with products with better nutritional value and with less harmful effects on the body. This high demand for convenience food is directly increasing the demand for food packaging, thus supporting the growth of this market.


To attain sustainability, there has been an increasing use of green packaging solutions. They help in reducing environmental pollution and provide a wide variety of benefits that include reduction of plastic use, increasing recycling, energy conservation, and efficient transport, leading to an upsurge in the industry growth.


RESTRAINING FACTORS


Rapid Changes in Technologies along with Shortage and Rising Cost of Raw Materials


Plastic is one of the main raw materials used for food packaging. The plastic packaging is made from synthetic polymers like polypropylene and polyethylene, manufactured from natural resources. The fluctuating price of these raw materials affects the packaging industry. Moreover, regulations developed by government and associations over resource conservation are surging the price of these raw materials, which in turn is restraining the market growth.


The technological advancement is not supported by raw material availability; that is hindering technological improvement in packaging solutions. High raw materials costs are causing inaccessibility to many new packaging technologies and companies are dependent on traditional packaging solutions, which in turn is affecting the economy and environment equally.


Costly skilled manpower is also a restraining factor in market growth. Rapid changes in technologies require highly skilled labor to work upon. Highly knowledgeable and experienced workers are required for the manufacturing of packaging materials. This, along with the high cost of the manufacturing process added to the costly manpower, is making the packaging materials highly expensive. These materials are thus available to only high economic regions where the consumers can afford good-quality packaged food.


SEGMENTATION


By Material Analysis


Paper & Paperboard to Generate the Highest Revenue


On the basis of material, the market is segmented into glass, metal, paper & paperboard, wood, and plastics. Amongst these, paper & paperboard segment accounts for the largest market share owing to the recyclable and eco-friendly nature, versatility, and fewer carbon emissions, making it suitable for usage in food packaging. Increasing use of paper in packaging of various readily eatable food, fresh vegetables, and beverages is the major factor driving the market.


Glass bottles are usually used for storage and packaging of food products for a long period or reusable items. Glass is a widely used material, which is GRAS-certified by the US FDA, as it is 100% recyclable. Growing demand for glass packaging for food products such as milk and dairy products owing to its non-reactive, recyclable, and washable characteristics, is expected to contribute to an increase in the market size substantially.


The plastic used in packaging is the most feasible material as it is flexible, lightweight, cost-effective, does not cause splintering and protects food from damage. Most of the plastic resins used in packaging are recyclable. Plastic packaging offers opportunities to innovate. For instance, modified atmosphere packaging (MAP) helps in conserving food freshness, which, in turn, increases the shelf life of the product by slowing bacterial growth. Increasing consumption of beverages has led to a rise in the plastic demand which in turn may favor market growth.


Plastic packaging is sub-segmented into polypropylene, polyethylene, PET, and others. Among these, polyethylene is the majorly used plastic owing to its relatively low cost and is easily processed into various packaging forms. Properties of plastic packagings, such as good moisture barrier, easy processing, increased sealing capacity, and low cost is driving the market growth.


By Product Analysis


Rigid Packaging to Generate the Highest Revenue in the Market


The food & packaging market is segmented into rigid, semi-rigid, and flexible, based on product. Rigid packaging has the largest market share owing to its increased usage in vegetables, fruits, and other easily crushable food products. Change in consumer lifestyle, along with increasing consumption of bread, sausages, and other snacks, mainly in China, India, Germany, and the UK, will foster industry demand. The burgeoning number of food retail outlets with innovative product launches may boost the market, which in turn will drive the overall market size.


Semi-rigid packaging consists of plastics and cardboard, majorly used for protecting food products from humid, rot, and harsh environments. These materials are lightweight, no corrodible, shock-resistant, and heat-sealable, and mostly used for microwaveable purposes.


Additionally, flexible packaging is attaining high demand due to increasing technological advancement and innovation solutions for product packaging needs. Flexible packaging uses significantly less material than that of rigid containers and also requires less amount of energy during formation into packaging products. Moreover, the manufacturing process of flexible packaging produces lesser greenhouse gas emissions, making for a better environment. Rising demand for packaging for ensuring nutrient and flavor fortification will accelerate the market revenue. Strict government norms along with growing consumer awareness about hygiene and food safety will foster industry growth, which in turn boosts the market.


By Application Analysis


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Bakery & Confectionery to Exhibit a Significant CAGR


On the basis of application, the market is categorized into fruits & vegetables, bakery & confectionery, dairy products, meat, poultry & seafood, sauces, dressings and condiments, and others. Amongst these applications, bakery & confectionery segment is expected to remain dominant during the forecast period. In bakery & confectionery applications, it is mainly for products such as chewing gums and candies, toffees, and chocolates. Increasing the consumption of these food products will lead to the growth of the food packaging market.


The packaging industry has witnessed high demand due to the unique and attractive packaging for different types of products. Fruits and vegetables have perishable properties as they get spoiled when they come in contact with moisture, and thus, they require flexible packaging.


Growth in meat, poultry & seafood segments can be linked to the increasing demand for these food products from consumers. The growing population has increased the consumption of chicken, beef, pork, and seafood. Meat and its products have chemical properties including sensory attributes, microbial flora, and natural pigments. Packaging material selection is done carefully to protect these properties of meat and its products.


Sauces and dressings always come in rigid packaging as they are non-perishable products. They come in glass bottles, sachets, plastic packets, and others, and are used in homes, offices, and restaurants. Increasing number of restaurants may cause high demand for sauces and dressing items, thereby driving the industry growth.


REGIONAL INSIGHTS


Asia Pacific Food Packaging Market Size, 2019 (USD Billion)

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Asia Pacific accounted for the highest share of the global food packaging market in 2019. This region is projected to remain the largest over the forecast period due to rising urban population levels and retail infrastructure development, which is expected to support the growing need for packed goods in China, Japan, and India. Growing disposable income, along with consumer demand for environment-friendly packaging solutions with ease of handling and low costs, may drive the demand in the region. China is a major consumer of packaging owing to the presence of various manufacturers and increasing demand for frozen food. Further, consumer spending on packaged food and improving lifestyles may fuel regional product demand.


Europe held a major food packaging market share and is anticipated to witness substantial growth in the market owing to increasing demand from the food & beverage industry. Increasing demand for packaging and processed food, along with the change in consumer lifestyle, mainly in Germany, the UK, and Italy, will bolster regional growth. Hectic lifestyles, increasing purchasing power parity, easy packaged food availability, and time constraints for meal preparation are key factors contributing to regional growth.


North America is expected to witness significant growth in this market. The U.S. is one of the major consumers of packaged foods, which will aid in market growth. Packaging in the U.S. is gaining immense traction owing to the rapid rise in the number of food outlets. Rising awareness of a healthy lifestyle has influenced consumers to shift to a higher quality of packaged food and that, in turn, will drive the product demand.


In Latin America, Mexico and Brazil are the major countries that will support market growth. Growth in the region is mainly attributable to the growing demand for canned food. Some novel packaging tools such as Modified Atmosphere Packaging (MAP) are increasing as consumers are demanding products with greater transparency and minimal processing.


The Middle East & Africa is expected to observe substantial growth in the market owing to increasing demand for dairy products and meat and poultry & seafood applications. The surge in western food culture and food service in the region indicates the increasing product demand that will lead to this market growth.


KEY INDUSTRY PLAYERS


Key Market Players to Strengthen Market Position by Offering Packaging Solutions to the Food & Beverage Industry


Major producers in the market are present in North America and Europe. Some of the key market players are Mondi Group, Amcor plc, Berry Global Inc., and BALL CORPORATION. Mondi offers sustainable packaging and produces plastic films, pulp, and paper, and manufactures and develops consumer and industrial packaging products. The company has 102 production sites in more than 33 countries. On the other hand, Amcor develops and produces packaging for various industries that includes food & beverage, pharmaceutical, medical, home & personal care, and other products. The company has 250 manufacturing sites located in more than 12 countries, with their strategies consisting of differentiated capabilities and aspiration to be the global leader. Similarly, other key industry participants in the market have developed strong distribution channels, product offerings, and regional presence.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS:



  • June 2019 - Mondi Group developed a full-recyclable polypropylene for thermoforming applications that will reduce carbon footprint by 23% for packaging. This product retains all the functionality and offers excellent optical and gas barrier properties that increase the shelf life of packed food products.

  • August 2019 - Amcor designed lightweight PET bottles for pasteurized beer in Brazil. These PET containers are a replacement for glass that withstands the high-heat conditions and internal pressure during the pasteurization process. This packaging allows the company to develop a better replacement for glass which will deliver to a broad range of consumers throughout Latin America.


REPORT COVERAGE


The market research report provides a detailed analysis of the market and focuses on crucial aspects such as leading companies, applications, and types. Also, the report offers insights into the food packaging industry trends and highlights vital industry developments. In addition to the factors mentioned above, the report encompasses various factors that have contributed to boost the growth of the market over recent years.


An Infographic Representation of Food Packaging Market

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Report Scope & Segmentation











































 ATTRIBUTE



 DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Million)



Segmentation



By Material



  • Glass

  • Metal

  • Paper & Paperboard

  • Wood

  • Plastics

    • Polypropylene

    • Polyethylene

    • PET

    • Others





By Product



  • Rigid

  • Semi-Rigid

  • Flexible



By Application



  • Fruits & Vegetables

  • Bakery & Confectionery

  • Dairy Products

  • Meat, Poultry & Seafood

  • Sauces, Dressings and Condiments

  • Others



By Geography



  • North America (U.S., and Canada)

  • Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe)

  • Asia-Pacific (China, India, Japan, South Korea, Australia, and Rest of Asia-Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East & Africa (Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa)



Frequently Asked Questions

Fortune Business Insights says that the global food packaging market size was USD 304.98 billion in 2019 and is projected to reach USD 463.65 billion by 2027.

In 2019, the market value stood at USD 304.98 billion.

Growing at a CAGR of 5.9%, the market will exhibit steady growth in the forecast period (2020-2027).

The rigid packaging segment is the leading segment based on the product.

Rising demand for packaging in bakery & confectionery applications will drive the market growth.

Mondi Group, Amcor plc, Berry Global Inc., and BALL CORPORATION are few of the leading players in the global market.

Asia Pacific dominated the global market in 2019.

Rising demand for convenience food and confectionary food items is an important market trend.

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Food Packaging Market Size, Share and Global Industry Trend Forecast till 2026
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