Food Packaging Market to Grow at a CAGR of 6.26% During the Forecast Period; Increased Consumer Inclination Toward Packaged Products to Foster Market Expansion

The global food packaging market size stood at USD 505.27 billion in 2024. The market is predicted to rise from USD 533.22 billion in 2025 to USD 815.51 billion by 2032 at a CAGR of 6.26% from 2025 to 2032.

Fortune Business Insights™ presents this information in its report titled, “Food Packaging Market Size, Share & Industry Analysis, By Material (Glass, Metal, Paper & Paperboard, Plastics {Non-biodegradable, Biodegradable}, and Wood), By Product Type (Rigid, Semi-rigid, and Flexible), By Packaging Type (Bags & Pouches, Films & Wraps, Stick Packs & Sachets, Bottles & Jars, Boxes & Cartons, Cans, Trays, Clamshells, and Others), By Application (Fruits & Vegetables, Bakery & Confectionery, Dairy Products, Meat, Poultry & Seafood, Sauces, Dressings, and Condiments, and Others), By End-user (Quick Service Restaurants, Café & Kiosks, Full Service Restaurants, Chain Restaurants, and Others), and Regional Forecast, 2025-2032”.

Food packaging is essential in maintaining the quality, security, and shelf life of food products. It meets numerous functions, such as safety from contamination, transportation simplification, and crucial information communication to consumers. The market includes a variety of materials and technologies specifically made to fulfil the various requirements of the food industry. Increased consumer inclination toward packaged products owing to the change in consumption habits and varying lifestyles fueling market expansion.

The COVID-19 pandemic positively impacted the market, driven by huge demand for packaged foods. Increased consumer preferences, government procedures, and storage fueled the consumption of packaged food and assisted market growth amid the pandemic.

Growing Focus on Collaborations by Key Players to Boost Market Progress

In June 2024, Crocco made a collaboration with Versalis to generate food packaging film using recycled post-consumer plastics. By utilizing Versalis' Balance product, this packaging maintains vital food safety and performance values. The partnership underscores the worth of wide-ranging raw materials and supply chain alliances in endorsing circular economy goals.

Growing Consumption of Ready-to-Eat Snacks to Propel Market Growth

There is an increased demand for convenience food owing to its easy transferability and extended shelf life. These items comprise frozen food, finger food, snacks, candy, and beverages. These products generally need less preparation and are served hot in ready-to-eat containers. Growing disposable income and growth in the working population are driving market growth. Currently, consumers choose fast food products due to the fast-paced lifestyle of consumers. This pushes convenience food producers to create products with improved nutritional value and less harmful effects on the body. Surging need for significant packaging for convenience food is propelling market expansion. Growing consumption of ready-to-eat snacks due to an inactive lifestyle is fueling the food packaging market growth.

Conversely, fluctuating prices of raw materials are hindering market growth.

Top Players Introduce Advanced Packaging Solutions to Strengthen Their Market Presence

The global market is characterized by intense competition and fragmentation, with a few key players leading the industry through cutting-edge food packaging solutions. Additionally, numerous smaller players in the market remain focused on evolving market trends and delivering state-of-the-art food packaging solutions.

Notable Industry Development:

• May 2024: Mondi launched 'TrayWrap,' a revolutionary paper-based packaging alternative to plastic shrink wrap for food and beverage bundles. Developed from Mondi’s Advantage StretchWrap line, this sustainable option has been adopted by a Swedish coffee brand for shipping 12-pack coffee units.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/food-packaging-market-101941

List of the Companies Profiled in the Report:

• Mondi Group (Austria)
• Amcor plc (Switzerland)
• Berry Global Inc. (U.S.)
• Stora Enso (Finland)
• Constantia Flexibles (Austria)
• Plastipak (U.S.)
• Tetra Pak International S.A. (Switzerland)
• DS Smith (U.K.)
• Crown Holdings, Inc. (U.S.)
• ExxonMobil Chemical (U.S.)
• Coveris Group (U.K.)
• International Paper Company (U.S.)
• Smurfit Kappa Group (Ireland)
• Graphic Packaging International, LLC (U.S.)
• WestRock Company (U.S.)
• Sonoco Products Company (U.S.)

Further Report Findings:

• Asia Pacific held the highest food packaging market share, fueled by a rise in urban population and retail infrastructure expansion. Increased demand for packaged goods in China, Japan, and India is propelling market expansion in the region.
• North America registers a second-dominating position in the market due to the increased need for food packaging in the U.S. Growing consciousness of a healthy regime has inspired consumers to move to a higher quality of packaged food, boosting product sales in the region.
• In terms of material, the plastics segment takes the lead in the global market as it guards food from damage and is lightweight. An increase in beverage consumption is fostering segment growth.
• Based on product type, the market is segregated into rigid, semi-rigid, and flexible. The flexible packaging segment dominates the market, spurred by rapid technological innovations to meet product packaging requirements.

Table of Segmentation