Food Packaging Industry | Forecast 2030
Food Packaging Industry Data Book – Flexible Food Packaging, Fresh Food Packaging, Food Container and Micro-perforated Food Packaging Market
The economic value generated by the food packaging industry was estimated at approximately USD 346.5 billion in 2021.
Access the Global Food Packaging Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Food Packaging Industry Data Book Coverage Snapshot
- Food Packaging Industry USD 346.5 billion in 2021
- Flexible Food Packaging Market Size USD 150.9 billion in 2021 6.3% CAGR (2022-2030)
- Fresh Food Packaging Market Size USD 129.0 billion in 2021 5.0% CAGR (2022-2030)
- Food Container Market Size USD 147.5 billion in 2021 4.2% CAGR (2022-2030)
- Micro-perforated Food Packaging Market Size USD 1.5 billion in 2021 6.1% CAGR (2022-2030)
Flexible Food Packaging Market Growth & Trends
Flexible food packaging combines the benefits of paper, aluminium foil, and plastic without impacting the barrier protection properties, printability, ease of use, and durability of packaging products. This packaging also keeps the freshness of packaged products intact. Some examples of flexible food packaging products are chip bags, protein bar wrappers, juice pouches, and granola pouches.
Brands operating in the food & beverages industry try to use flexible packaging materials in the form of unbreakable, lightweight, and portable pouches for packaging food products instead of glass and plastic packaging products as they are easy to handle. Flexible packaging products have lower costs than rigid packaging products and are eco-friendly resulting in their low carbon footprint.
Order your copy of the Free Sample of “Food Packaging Industry Data Book – Flexible Food Packaging, Fresh Food Packaging, Food Container and Micro-perforated Food Packaging Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030, published by Grand View Research
Fresh Food Packaging Market Growth & Trends
The global fresh food packaging market size is expected to reach USD 181.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.0% from 2021 to 2028. Increasing demand for fresh dairy products from developing countries is expected to be the key driver for the market over the forecast period.
The industry has experienced a significant impact of the COVID-19 pandemic owing to the disruption of the supply chain. The shutdown in China, which is one of the key raw material producers, has impacted packaging manufacturers globally. The shortage in supply of raw materials like plastics, aluminum, steel, and others from Chinese manufacturers has resulted in a demand-supply gap, however, the manufacturing is expected to ramp up the production gradually.
The demand for packaging of fresh vegetables and fruits remained intact as the supply chain remained unaffected and imports continued during the COVID-19 pandemic. Specifically, the fruits and vegetables with high vitamin C content witnessed a significant increase in sales which further contributed to the increased supply-demand gap for the market.
Food Container Market Growth & Trends
The global food container market size is anticipated to reach USD 201.9 billion by 2028, registering a CAGR of 4.2% over the forecast period, according to a new report by Grand View Research, Inc. The global market is predominantly driven by the rapid growth in the food processing industry mainly in the emerging markets. In addition, the rising need to reduce carbon footprints and increasing adoption of bioplastics in the packaging industry are driving the market. Moreover, innovation and new product developments are attracting food manufacturers, which is expected to augment the market growth.
For instance, in 2020, Tetra Pak and Dabur formed a partnership to launch low-calorie juice products in a new packaging format i.e., bare paperboard with wood fiber packaging for a natural look. Due to the COVID-19 pandemic, the market witnessed a decline in demand in 2020. Raw material shortage due to supply chain disruption resulted in the reduced production of food containers. Various major players witnessed a decline in their annual revenue in 2020. For instance, the annual turnover of Amcor plc reduced by approximately 6% in 2020 compared to 2019.