Food Packaging Market Shares, Forecast & Trends Analysis (2024-2031) By Material, Packaging Type, Product Type, Application, End User And Region

(MENAFN- GlobeNewsWire - Nasdaq) Amcor, Smurfit Westrock, Mondi Group, Berry Global Group, and Sealed Air Corporation Dominate the Competition

Dublin, Jan. 03, 2025 (GLOBE NEWSWIRE) -- The "Food Packaging market Size, Share, Forecast, & Trends Analysis by Material, Packaging Type, Product Type, Application - Global Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.
According to the market research report, the food packaging market is projected to reach $698.4 billion by 2031, at a CAGR of 5.9% during the forecast period 2024-2031. The report provides an in-depth analysis of the food packaging market across five major regions, emphasizing current market trends, market sizes, recent developments, and forecasts till 2031.
Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report provides an impact analysis of the key market drivers, restraints, opportunities, challenges, and trends.
The growth of the food packaging market is driven by the growing demand for convenience food products, the increasing demand for convenient & portable packaging solutions, the rising demand for food products with extended shelf life, and high growth in the retail sector. However, food packaging materials' susceptibility to degradation and fluctuations in raw material prices restrain market growth.
Moreover, the growing emphasis on eco-friendly packaging & recyclability and innovation in packaging technology are expected to create market growth opportunities. However, stringent regulatory requirements pose a significant challenge to the market's growth.
The key players operating in the food packaging market are Amcor plc (Australia), Smurfit Westrock plc (Ireland), Mondi plc (U.K.), Berry Global Group, Inc. (U.S.), Sealed Air Corporation (U.S.), Ball Corporation (U.S.), Tetra Pak International SA (Switzerland), Schur International Holding A/S (Denmark), Anchor Packaging LLC (U.S.), Crown Holdings, Inc. (U.S.), International Paper Company (U.S.), Graham Packaging Company Inc. (U.S.), Borealis AG (Austria), and B.C. Jindal Group (India).
Based on material, the food packaging market is segmented into plastic packaging, paper & paper-based packaging, metal packaging, glass packaging, and other packaging materials. In 2024, the plastic segment is expected to account for the largest share of 43.3% of the food packaging market. The large share of this segment is mainly attributed to technological advancements, including the development of biodegradable plastics and the increasing demand for lightweight packaging.
Based on packaging type, the food packaging market is segmented into flexible, rigid, and semi-rigid packaging. In 2024, the flexible segment is expected to account for the largest share of 46.6% of the food packaging market. The large market share of this segment is attributed to the increasing adoption of flexible packaging due to its advantages, including convenience, sustainability, cost-effectiveness, versatility, and extended shelf life of food products.
Based on product type, the food packaging market is segmented into bags & pouches, bottles & jars, films & wraps, boxes & cartons, trays, cans, stick packs & sachets, and other product types. The films & wraps segment is projected to register the highest CAGR of 7.1% during the forecast period 2024-2031, mainly due to the growing consumption of convenience foods, growth of the food service and food & grocery delivery sectors, and a shift from rigid to flexible packaging.
Based on application, the food packaging market is segmented into bakery products, confectionery products, dairy products, snacks, beverages, meat, poultry, and seafood products, pet food, baby food, ready-to-eat meals, and other applications. In 2024, the beverages segment is expected to account for the largest share of 24.3% of the food packaging market. The segment's large market share can be attributed to the growing demand for ready-to-drink beverages and the increasing focus of beverage manufacturers on brand identity, continuous innovation, and new product development.
Based on end user, the food packaging market is segmented into food manufacturers, food service providers, packaging service providers, and other end users. The food service providers segment is projected to register the highest CAGR of 7.1% during the forecast period. The segment's growth is primarily driven by the increasing number of food service outlets, the rising consumption of ready-to-eat meals and fast food, and the growing penetration of E-commerce.
An in-depth geographic analysis of the market provides detailed qualitative and quantitative insights into five major regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. Asia-Pacific is expected to witness significant growth during the forecast period 2024-2031, mainly due to growing government support for the food processing sector and rising disposable incomes in the region.
Key Questions Answered in the Report:

• What is the current revenue generated in the food packaging market globally?
• At what rate is the demand for food packaging solutions projected to grow over the next 5-7 years?
• What are the historical market size and growth rate of the food packaging market?
• What are the major factors impacting the growth of this market at the regional and country levels?
• What are the major opportunities for existing players and new entrants in this market?
• Which segments in terms of material, packaging type, product type, application, and end user are expected to create traction for the manufacturers in this market during the forecast period 2024-2031?
• What are the key geographic trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the food packaging market?
• Who are the major players in the food packaging market? What are their specific product offerings in this market?
• What are the recent strategic developments in the food packaging market? What are the impacts of these strategic developments on the market?

Key Topics Covered

1. Introduction
1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency & Limitations
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Approach
2.2. Data Collection & Validation Process
2.2.1. Secondary Research
2.2.2. Primary Research/Interviews with Key Opinion Leaders from the Industry
2.3. Market Sizing & Forecasting
2.3.1. Market Size Estimation Approach
2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study
3. Executive Summary
3.1. Overview
3.2. Segmental Analysis
3.2.1. Food Packaging Market, by Material
3.2.2. Food Packaging Market, by Packaging Type
3.2.3. Food Packaging Market, by Product Type
3.2.4. Food Packaging Market, by Application
3.2.5. Food Packaging Market, by End User
3.3. Food Packaging Market, by Region
3.4. Market Competitors & Competitive Landscape
4. Market Insights
4.1. Overview
4.2. Factors Affecting Market Growth
4.3. Drivers
4.3.1. Growing Demand for Convenience Food Products
4.3.2. Increasing Demand for Convenient & Portable Packaging Solutions
4.3.3. Rising Demand for Food Products with Extended Shelf Life
4.3.4. High Growth in the Retail Sector
4.4. Restraints
4.4.1. Food Packaging Materials' Susceptibility to Degradation
4.4.2. Fluctuations in Raw Material Prices
4.5. Opportunities
4.5.1. Growing Emphasis on Eco-friendly Packaging & Recyclability
4.5.2. Innovation in Packaging Technology
4.6. Challenges
4.6.1. Stringent Regulatory Requirements
4.7. Trends
4.7.1. Rise of E-Commerce
4.7.2. Edible Packaging
4.8. Porter's Five Forces Analysis
5. Food Packaging Market Assessment - by Material
5.1. Overview
5.2. Plastic Packaging
5.2.1. Non-biodegradable Plastic Packaging
5.2.1.1. Low-density Polyethylene (LDPE) Packaging
5.2.1.2. High-density Polyethylene (HDPE) Packaging
5.2.1.3. Polyethylene Terephthalate (PET) Packaging
5.2.1.4. Polyvinyl Chloride (PVC) Packaging
5.2.1.5. Polystyrene (PS) Packaging
5.2.1.6. Polypropylene (PP) Packaging
5.2.1.7. Other Non-biodegradable Plastic Packaging
5.2.2. Biodegradable Plastic Packaging
5.2.2.1. Starch-based Plastic Packaging
5.2.2.2. Polylactic Acid (PLA) Packaging
5.2.2.3. Cellulose-based Plastic Packaging
5.2.2.4. Poly-3-Hydroxybutyrate (PHB) Packaging
5.2.2.5. Polyhydroxyalkanoates (PHA) Packaging
5.2.2.6. Other Biodegradable Plastic Packaging
5.3. Paper & Paper-based Packaging
5.4. Metal Packaging
5.4.1. Aluminum Packaging
5.4.2. Tin-free Steel (TFS) Packaging
5.4.3. Tinplate Packaging
5.4.4. Stainless Steel (SS) Packaging
5.5. Glass Packaging
5.6. Other Packaging Materials
6. Food Packaging Market Assessment - by Packaging Type
6.1. Overview
6.2. Flexible
6.3. Rigid
6.4. Semi-rigid
7. Food Packaging Market Assessment - by Product Type
7.1. Overview
7.2. Bags & Pouches
7.3. Bottles & Jars
7.4. Films & Wraps
7.5. Boxes & Cartons
7.6. Trays
7.7. Cans
7.8. Stick Packs & Sachets
7.9. Other Product Types
8. Food Packaging Market Assessment - by Application
8.1. Overview
8.2. Beverages
8.3. Bakery Products
8.4. Dairy Products
8.5. Confectionery Products
8.6. Snacks
8.7. Meat, Poultry, and Seafood Products
8.8. Ready-to-eat Meals
8.9. Pet Food
8.10. Baby Food
8.11. Other Applications
9. Food Packaging Market Assessment - by End User
9.1. Overview
9.2. Food Manufacturers
9.3. Food Service Providers
9.4. Packaging Service Providers
9.5. Other End Users
10. Food Packaging Market Assessment - by Geography
10.1. Overview
10.2. Asia-Pacific
10.2.1. China
10.2.2. Japan
10.2.3. India
10.2.4. Australia
10.2.5. Rest of Asia-Pacific
10.3. Europe
10.3.1. Germany
10.3.2. France
10.3.3. U.K.
10.3.4. Italy
10.3.5. Spain
10.3.6. Netherlands
10.3.7. Rest of Europe
10.4. North America
10.4.1. U.S.
10.4.2. Canada
10.5. Latin America
10.5.1. Brazil
10.5.2. Mexico
10.5.3. Argentina
10.5.4. Rest of Latin America
10.6. Middle East & Africa
10.6.1. United Arab Emirates
10.6.2. Saudi Arabia
10.6.3. South Africa
10.6.4. Rest of Middle East & Africa
11. Competition Analysis
11.1. Overview
11.2. Key Growth Strategies
11.3. Competitive Benchmarking
11.4. Market Share Analysis (2023)
11.5. Competitive Dashboard
11.5.1. Industry Leaders
11.5.2. Market Differentiators
11.5.3. Vanguards
11.5.4. Emerging Companies
12. Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments, and SWOT Analysis)
12.1. Amcor PLC
12.2. Smurfit Westrock plc
12.3. Mondi Group
12.4. Berry Global Group, Inc.
12.5. Sealed Air Corporation
12.6. International Paper Company
12.7. Graham Packaging Company
12.8. Borealis AG
12.9. B.C. Jindal Group
12.10. Ball Corporation
12.11. Tetra Pak International S.A.
12.12. Schur International Holding A/S
12.13. Anchor Packaging LLC
12.14. Crown Holdings, Inc.
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