Food Packaging Market to Surpass US$563 Billion Amid Growth
NEWARK, Del, May 31, 2022 (GLOBE NEWSWIRE) — According to Future Market Insights, demand in the food packaging market is driven by a growing need for packaged foods and stringent government policies on packaging. Consequently, end users in developing economies are shifting from unpackaged to packaged foods. Consumption of packaged products with longer shelf life is increasing due to growing health awareness and the importance of eating fresh foods.
With the increase in demand for convenience foods, sales in the food packaging market are expected to reach $335.9 billion by 2022. As packaged and processed meals are simple and quick to prepare, the global packaged and processed food sector is expected to grow significantly. In the years to come.
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Main food packaging market takeaways
The food packaging market is expected to grow at approximately 1.7x its current value, surpassing US$563 billion by 2032.
· Based on the type of packaging, the flexible food packaging market is estimated to dominate the market throughout the forecast period.
· Dairy products are expected to remain the top product in the food packaging market and are expected to grow 1.7x.
· The food packaging market in South Asia is expected to account for around 26% of the global market share during the forecast period.
“With the increase in working hours, the food behavior of consumers is changing which will help the market to grow. To capitalize on this trend, key players focusing on innovation and redesign of food packaging to retain the Longer product freshness will be essential to be in the market IMF analyst comments
Food packaging market landscape
Mondi Group, Berry Global Group, Tetra pak, Amcor plc, DS Smith plc, Stora Enso, Plastipak, Crown Holdings Inc., Graham Packaging Company, Sealed Air Corporation, Westrock Company, Ball Corporation, International Paper Company, Constantia Flexibles Group GmbH
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Food Packaging Market by Category
By type of packaging:
- flexible food packaging
- Bags and pouches
- Films and films
- Stick Packs & Sachets
- Rigid food packaging
- Bottles and jars
- Boxes and Cartons
- Cups and pots
- Meals ready to eat
- Dairy products
- Bakery and confectionery products
- Fresh products
- Meat, seafood and poultry
- Sauces, dressings and condiments
- Other food products
- North America
- Latin America
- Middle East and Africa
- East Asia
- South Asia
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1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Technology roadmap
1.5. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Key Market Trends
3.1. Key trends impacting the market
3.2. Product Innovation / Development Trends
4. Key success factors
4.1. Product Adoption / Usage Analysis
4.2. USP/Product Features
4.3. Strategic promotional strategies
Check out FMI’s extensive ongoing coverage on packaging
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About Future Market Insights (IMF)
Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments based on source, application, sales channel, and end-use over the next 10 years.
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