Global food packaging market 2018-2023 | Paper and packaging market research
Food packaging plays a vital role in preserving and transporting a food item to its desired location without hampering its taste or quality. It helps to prevent food products from bacteria, spillage, moisture, and toxins. Food packaging is also used for information transmissions such as the food products nutrition content, expiry date, price, and origin. It also acts as a modern marketing medium for the sellers to attract a large number of consumers. According to the latest report, titled “Food Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global food packaging market reached a value of approximately US$ 273.9 Billion in 2017.
A rapid change in the food preferences of the consumers coupled with expanding food retail sector worldwide is one of the major factors catalysing the growth of the global food packaging market. In addition, surging working population, rising disposable incomes and hectic lifestyles have led to the trend of a rising consumption of fast food and ready-to-eat products. This has further widened the growth prospects of the global food packaging market. Some of the other factors that have been proactive in maintaining the demand for food packaging are population growth, eco-friendly food packaging and a strong demand from emerging markets. Looking forward, the market value is projected to exceed US$ 356.7 Billion by 2023, expanding at a CAGR of 4.5% during 2018-2023.
Market Summary:
Based on type, the market has been segmented as flexible packaging, paper & paperboard packaging, rigid plastic packaging, glass packaging, metal packaging and others. Currently, flexible packaging dominates the market holding the largest share.
Based on application, the food packaging market is segmented as bakery, confectionery, pasta, & noodles; dairy products; daily meals; sauces, dressings, & condiments; snacks & side dishes; convenience foods; meat, fish, & poultry; fruits & vegetables, and others.
Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
The competitive landscape of the market has also been examined with some of the key players being Amcor, Crown Holdings, Owens-Illinois, Bemis, Tetra Pak, Ball and American Packaging Corporation.
This report provides a deep insight into the global food packaging market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the food packaging market in any manner.
Browse Full Market Research Report: Global Food Packaging Market 2018-2023
Key Questions Answered in This Report:
How has the global food packaging market performed so far and how will it perform in the coming years?
What are the key regions in the global food packaging market?
What are the key application segments in the global food packaging market?
What are the major packaging materials used in the global food packaging market?
What are the various stages in the value chain of the global food packaging market?
What are the key driving factors and challenges in the global food packaging market?
What is the structure of the global food packaging market and who are the key players?
What is the degree of competition in the global food packaging market?
How has the global food packaging market performed so far and how will it perform in the coming years?
What are the key regions in the global food packaging market?
What are the key application segments in the global food packaging market?
What are the major packaging materials used in the global food packaging market?
What are the various stages in the value chain of the global food packaging market?
What are the key driving factors and challenges in the global food packaging market?
What is the structure of the global food packaging market and who are the key players?
What is the degree of competition in the global food packaging market?
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