Food Packaging Market to Surge at 5.85% CAGR over 2023 to 2030; Rising Concerns about Packaging Waste and its Environmental Impact to Spur Market Growth

The global food packaging market size was valued at USD 456.00 billion in 2022. The market is anticipated to expand from USD 479.73 billion in 2023 to USD 714.16 billion by 2030, exhibiting a CAGR of 5.85% over the estimated period.

Fortune Business Insights™ presents this information in its report titled “Food Packaging Market Size, Share & COVID-19 Impact Analysis, By Material (Glass, Metal, Paper & Paperboard, Plastic {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, 2023-2030”.

Food packaging helps in preventing pest-attacks and offer protection from decaying food and damage during transit. The market is experiencing significant growth driven by rising consumer demand for packaged products, which can be attributed to shifting consumption habits and changing lifestyles.

Increased Demand for Packaged Food During Pandemic Spurred Market Growth

During the pandemic, a positive impact on the growth of the food packaging sector was observed. Factors such as shifting consumer demand patterns, government measures, and stockpiling efforts all led to heightened demand for packaged food. Moreover, the surge in e-commerce retail during the pandemic further accelerated domestic packaged food sales, which, in turn, elevated the food packaging market growth.

ProAmpac Introduced High-Performance Retort Pouches to Strengthen Industry Foothold

In May 2022, a U.S.-based material science and packaging manufacturer, ProAmpac, introduced a groundbreaking solution in the form of high-performance retort pouches. These pouches are made from post-consumer recycled materials, emphasizing a commitment to sustainability within the realm of food packaging.

Surging Demand for Sustainable Packaging to Spur Market Progress

Rising concerns about packaging waste and its environmental impact are driving the demand for more sustainable packaging solutions, such as edible packaging. Consumers and regulatory bodies are increasingly emphasizing the need for eco-friendly and biodegradable packaging materials, promoting growth in this market.

However, the limited availability of essential raw materials hinders the development of innovative packaging technologies, thereby limiting market advancement.

Prominent Players Strike Alliances to Increase Geographical Footprint

Key participants operating in the market are forging collaborations to expand their geographical footprints. Companies such as Berry Global Inc., Stora Enso, Constantia Flexibles, Mondi Group, and Amcor plc are also undertaking R&D activities and focusing on the formation of alliances and launching new food packaging products to strengthen the positions of their businesses.

List of Key Players Profiled in 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.)

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

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

Key Industry Development

• January 2023 - Cascades introduced a fresh approach to eco-friendly packaging, with a dedicated solution for fresh fruits and vegetables. The company's latest offering featured a closed basket made from recycled and recyclable corrugated cardboard, designed to meet the unique requirements of the produce sector.

Further Report Findings:

• The food packaging market share in Asia Pacific is poised to hold a key position in the global market. The increasing urban population in China, Japan, and India is contributing to higher demand for packaged goods, as urban dwellers often seek convenient and ready-to-eat food products.


• The rising demand for meat, poultry, seafood applications, and dairy products in the Middle East & Africa is fueling the demand for packaging solutions, promoting market growth.

Table of Segmentation