NEW YORK, May 16, 2024 /PRNewswire/ -- The global food packaging market size is estimated to grow by USD 79.41 bn from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of 4.32% during the forecast period.

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Key Market Trends Fueling Growth

The food packaging market experiences significant growth due to the increasing sale of food products on e-commerce platforms. Durable primary packaging is essential to maintain product quality and freshness during storage and transit. Secondary packaging plays a crucial role in ensuring safe shipment, preventing damage, contamination, spoilage, and pest attacks. Factors influencing the market include customization options, inventory control, consumer education, market availability, shelf life, product safety, smart packaging, antioxidants, antimicrobials, moisture absorbers, visual alerts, time and temperature, food waste, convenience food, readymade meals, and various external environmental factors such as relative humidity, light, pressure, heat, and microorganisms.

Market Challenges

• The food packaging market encompasses various types of materials, including plastic, glass, metals, and paper. Notable packaging formats are stick packs and sachets, bottles and jars, boxes and cartons, cans, trays, clamshells, and dairy products. Prices of raw materials, such as virgin fibers and recycled fibers, significantly impact vendors, leading to increased product pricing due to fluctuating costs. High-performance materials with diverse compositions and extended shelf life are essential for fresh food products, quick-service restaurants, cafes, and kiosks. The market includes rigid and flexible packaging, with applications in dairy product segments and primary, secondary, and tertiary packaging. Innovations like smart packaging, bioplastics, and nanotechnology further enhance the industry.

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Segment Overview

This food packaging market report extensively covers market segmentation by

1. Product 
   • 1.1 Flexible plastic
   • 1.2 Rigid plastic
   • 1.3 Glass
   • 1.4 Metal
   • 1.5 Others
2. Application 
   • 2.1 Bakery and confectionery
   • 2.2 Dairy products
   • 2.3 Poultry meat and sea food
   • 2.4 Fruits and vegetables
   • 2.5 Others
3. Geography 
   • 3.1 APAC
   • 3.2 Europe
   • 3.3 North America
   • 3.4 South America
   • 3.5 Middle East and Africa

1.1 Flexible plastic- The Plastic material segment dominates the food packaging market, particularly in the realm of Plastic food packaging. This segment encompasses a diverse range of products such as bags, pouches, liners, wraps, sachets, and containers. The advantages of Plastic food packaging are numerous. It extends the shelf life of food items, making it an ideal choice for fast-food and convenience food. Plastic containers offer high barriers properties, ensuring product safety and preserving the freshness of perishable goods. Primary packaging, including Plastic containers, offers customization options, enabling brands to showcase their unique identities through various shapes, sizes, and printing options. Secondary and tertiary packaging, also made of Plastic, are lightweight and easy to ship, reducing transportation costs. Innovations in Plastic food packaging include the use of Paper packaging, Bioplastic material, PCR plastic, and Bio-based polymers. Smart packaging solutions, incorporating Nanotechnology, Antioxidants, Antimicrobials, Moisture absorbers, Visual alerts, and Time and temperature indicators, enhance consumer experience and minimize Food waste. Market availability, Shelf life, and Product safety are crucial factors driving the growth of Plastic food packaging. Consumer education plays a vital role in increasing awareness about the benefits of Plastic food packaging and its sustainable alternatives. Inventory control and convenience are additional advantages, making Plastic food packaging a preferred choice for the food industry.

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Research Analysis

The Food Packaging Market encompasses various types of packaging solutions designed to protect and preserve food products from contamination, spoilage, damage, and pest attacks during storage, transit, retail sale, and external environment exposure. High barrier properties of packaging materials play a crucial role in extending the shelf life of food items, particularly dairy products and single-serve packs. The market caters to a wide range of retail products, including fast-food items, through primary, secondary, and tertiary packaging solutions. Plastic food packaging, such as containers, is a significant segment due to its versatility and ability to maintain the required relative humidity levels. Recycling initiatives are gaining momentum in the market to ensure sustainability in online purchasing trends.

Market Research Overview

The Food Packaging Market encompasses various types of packaging materials and technologies used to preserve and protect food products from contamination, damage, and prolong their shelf life. Key packaging materials include plastic, paper & board, metal, and glass. Technologies such as active packaging, smart packaging, and biodegradable packaging are gaining popularity due to their sustainability and advanced functionalities. The market is driven by factors like increasing consumer awareness towards food safety, convenience, and the growing demand for ready-to-eat and on-the-go food products. Additionally, regulatory initiatives and government policies promoting the use of eco-friendly packaging solutions are expected to fuel market growth. The market is segmented by material type, technology, application, and region.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• • Flexible Plastic
  • Rigid Plastic
  • Glass
  • Metal
  • Others
• Application
• • Bakery And Confectionery
  • Dairy Products
  • Poultry Meat And Sea Food
  • Fruits And Vegetables
  • Others
• Geography
• • APAC
  • Europe
  • North America
  • South America
  • Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio