GMI Research analysis indicates that the global food packaging market estimated at 315.0 Billion in 2020 and is slated to register a single-digit growth of about 5.3% over the period, 2021-2028 and projected to reach 476.1 Billion in 2028

Food packaging is a process of enclosing food to prevent it from contamination, damage, pest attacks, spoilage, and getting damaged at the time of storage, transport, and retail sale. The packaging material is used for the packing of different food products and several other types of products such as cans, bags, cartons, and trays. The food packaging assists in many purposes ranging from protecting the food to creating portion sizes to present the information on the product.

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Changing lifestyle of individuals, varying food choices, and accelerating population across the emerging nations are the major factors fueling the global food packaging market. Increasing demand for packaged food by consumers aided by the hectic lifestyle, increasing working population, and rising disposable income has contributed to the market expansion. The advent of new packaging technologies, which include active and smart packaging, allows flexible packaging of food products, compelling the market size. In addition, with the growing environmental concerns, companies have shifted towards more sustainable packaging solutions including thermoplastics and bio-based plastics, boosting the Food Packaging Market Size.

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Type Segment Analysis
Rigid Packaging is forecast to witness a higher CAGR during the forecast period, owing to its ability to its ability to block light, moisture, and oxygen to preserve food contamination. Changing lifestyle, increasing use of flexible packaging in fruits, vegetable, and other perishable items, and rising food retail outlets will drive their growth.

Flexible packaging is predicted to expand at the fastest CAGR over the upcoming years, owing to the technological developments and rising trend of smaller packaging. Further, shift in demand from rigid to flexible packaging as it requires less energy and material is contributing to the segment’s growth.

Material Segment Analysis
Paper & board material segment is expected to grow at a higher CAGR over the coming years, owing to the emerging need to substitute non-biodegradable packaging solutions. Also, easy printability, innovations in designs, and sustainability will drive the segment’s size. Metal packaging will witness a promising growth over the forecast period. Increasing application of metal packaging in canned fish, food, and meat as metal cans extend the shelf-life of food items and preserve nutrients is predicted to augment the Food Packaging Market share.

Application Segment Drivers
Bakery & Confectionery application is estimated to hold a larger share over the coming years, primarily because of the increasing consumption of chewing gums, candies, chocolates, and cakes. Increasing drift towards dairy products in smaller packaging and adoption of strategic food packaging norms by producers are anticipated to pave the way for Food Packaging market growth.

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Regional Analysis
Asia-Pacific is predicted to expand at the fastest CAGR over the forecast period, primarily because of the rapid urbanization, development in retail infrastructure, and growing penetration of frozen food. The strong presence of leading players, expansion in retail sector, and growing consumption of packaged food by consumers are some other factors augmenting the market growth.

Various notable players operating in the market include Ball Corporation, Amcor plc, EasyPak, Crown, Sealed Air, WestRock Company, Tetra Pak International S.A., Owens-Illinois Inc., Silgan Holdings, Inc., and Toyo Seikan Group Holdings, Ltd, among others.

Key Developments:

• • In 2020, Amcor plc entered into a collaboration with Moda vacuum packaging systems to offer advanced packaging solutions to the customers. In this collaboration, the company will combine its shrink bag and stock film for cheese and meat with the system of Moda to assist the producers to enhance the operational efficiency and also reduce the
  • In 2019, Sealed Air acquired the flexible packaging business of MGM to expand its operation in food packaging and footprint in the Asia Pacific market.
  • In 2021, Four04 Packaging was acquired by Coveris Group. Four04 Packaging introduced innovative solutions to revive the quality of fresh food & bakery products. This acquisition helped Coveris to expand across the U.K. by increasing production capacities & product offerings.
  • In 2020, Amcor plc collaborated with Moda vacuum packaging systems to provide advanced packaging solutions to the customers. This collaboration will incorporate its shrink bag and stock film for cheese and meat with the system of Moda to help producers improve the operational efficiency.
  • In 2019, Sealed Air acquired the MGM to extend its operation in food packaging and footprint in the Asia Pacific market.

The global food packaging market has been segmented on the basis of material, type, application, and region. Based on the material, the market is segmented into rigid plastic, paper & board, glass, flexible plastic, metal, and other packaging material. Based on the type, the market is segmented into flexible packaging, rigid packaging, and semi-rigid packaging. Based on the application, the market is segmented into bakery & confectionery, dairy products, fruits & vegetables, convenience foods, sauces, dressings & condiments, meat, fish, & poultry, and other food products.

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Key questions answered in this research report:

• • At what pace is the global food packaging market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global food packaging market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global food packaging market?
  • Which material generated maximum revenues in 2020 and identify the most promising material during the forecast period?
  • What are the various application areas of the food packaging, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2020)	USD 315.0 Billion
Market Base Year	2020
Market Forecast Period	2021-2028
Base Year & Forecast Units	Value (USD Billion)
Market Segment	By Material, By Type, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Ball Corporation, Amcor Ltd, Nuconic Packaging LLC, Crown Holdings, Inc., Sealed Air Corp., Rock-Tenn Company, Tetra Pak International S.A., Owens-Illinois Inc., Silgan Holdings, Inc., and Toyo Seikan Group Holdings, Ltd, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation:

Global Food Packaging Market by Material

• • Rigid Plastic
  • Paper & Board
  • Glass
  • Flexible Plastic
  • Metal
  • Other Packaging Material

Global Food Packaging Market by Type

• • Flexible Packaging
  • Rigid Packaging
  • Semi-Rigid Packaging

Global Food Packaging Market by Application

• • Bakery & Confectionery
  • Dairy Products
  • Fruits & Vegetables
  • Convenience Foods
  • Sauces, Dressings & Condiments
  • Meat, Fish, & Poultry
  • Other Food Products

Global Food Packaging Market by Region

• • North America Food Packaging Market (Option 1: As a part of the free 25% customization)
    • By Material
    • By Type
    • By Application
    • United States of America Market (US) All-Up
    • Canada Market All-Up
  • Europe Food Packaging Market (Option 2: As a part of the free 25% Customization)
    • By Material
    • By Type
    • By Application
    • United Kingdom (UK) Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Food Packaging Market (Option 3: As a part of the free 25% Customization)
    • By Material
    • By Type
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Food Packaging Market (Option 4: As a part of the free 25% Customization)
    • By Material
    • By Type
    • By Application
    • Brazil Market Market All-Up
    • South Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Food Packaging (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Ball Corporation
  • Amcor Ltd
  • Nuconic Packaging LLC
  • Crown Holdings, Inc.
  • Sealed Air Corp.
  • Rock-Tenn Company
  • Tetra Pak International S.A.
  • Owens-Illinois Inc.
  • Silgan Holdings, Inc.
  • Toyo Seikan Group Holdings, Ltd