Market Overview:
The global food packaging market was valued at US$ 293.27 billion in 2019 and is estimated to increase by 4.00% to reach US$ 356.81 billion in 2024. The growing importance of this market has been supported by increased demand for processed and packaged food. The food industry is the largest in the world and plays a vital role in the economy of a country. Food should be packed tightly to avoid spoilage by microorganisms. Food packaging guarantees a longer shelf life of products in very sterile environments, which limits the growth of microorganisms responsible for food spoilage.
Market Drivers and Restraints:
The main forces driving this market are the growing demand for processed and packaged food to adapt to the rapidly changing lifestyle in developing and developed countries, improved population dynamics to urban areas, increasing consumer awareness of current environmental concerns, and gradually make changes in shopping habits.
However, ecological concerns about the poor biodegradability of plastics can hamper the growth of this market. Besides, technological improvements in the synthesis of these packaging materials increase the growth potential of this market.
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Report segmented as
By Material:
- Paper And Board,
- Metal,
- Rigid Plastic,
- Flexible Plastic,
- Glass And Others
By Types:
- Rigid,
- Semi-Rigid
- Flexible
By Application:
- Bakery,
- Confectionary,
- Convenience Foods,
- Dairy Products,
- Fruits And Vegetables,
- Sauces,
- Dressings And Condiments, Others
Geographical Analysis:
According to the geographical analysis, the market is divided into regions of North America, the Asia-Pacific, Europe, Latin America, the Middle East and Africa. The Asia-Pacific region has the largest share of this market and Europe ranks second. The Asia-Pacific region is also the fastest-growing region as urban populations balloons, and lifestyles in developing countries change rapidly.
Important Market Players:
Some of the main players controlling the marketplace include Amcor Ltd., Rock-Tenn Company, Crow Holdings, Owens-Illinois, Rexam, Tetra Pak, Anchor Packaging, CKS Packaging, McCain Foods, Kellogg’s, Cargill Inc.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
About Us:
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