Food Packaging Market size is estimated to reach USD 560 Billion by the end of 2033, growing at a CAGR of 10% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of food packaging was around USD 320 Billion. The growth of the market can primarily be ascribed to the globally changing lifestyles of people, and their rising preference for packaged and processed foods. Moreover, owing to the hectic lifestyle, people usually don’t have time to prepare their own food before going to office, so they opt for packed food that is easy to access. Therefore, it is anticipated to boost the market’s growth in the upcoming years. For instance, the global consumption of ultra-processed foods has hugely increased. These foods now account for 27-62% of a person's daily energy needs.
Food packaging is significant for keeping food items fresh and ensuring that they reach their destination without losing any of their original flavor or quality. It shields the food from contaminants and moisture, guards against spills and tampering, and aids in maintaining the products' shape and quality. The importance of food packaging as a means of transmitting information, such as the nutritional value, expiration date, cost, and country of origin of the packaged goods, has increased. Additionally, packaging serves as a contemporary marketing tool used by retailers to attract more customers. The rising count of novel and efficient food processing techniques that need a quality packaging of food after processing is fueling up the demand for packaging market over the forecast period. For instance, the concept of nanotechnology for food processing has opened the door for the processing and formulation of colorants, sensors, flavors, additives, preservatives, and food supplements in both animal and plant-based products (nanoencapsulation and nanoemulsion). Nanomaterials have demonstrated a variety of electrochemical and optical properties in various sauces, beverages, oils, and juices. Unique properties have demonstrated excellent qualities in the field of food processing as ingredients and supplements. Oxide chemicals such as magnesium oxide and silicon dioxide are able to flavor, color, and bake foods. Titanium dioxide has also been approved for use as an ingredient in gums, sauces, and cakes.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
10% |
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Base Year Market Size (2022) |
USD 320 Billion |
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Forecast Year Market Size (2033) |
USD 560 Billion |
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Regional Scope |
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Material (Metal, Glass, Plastic, Wood, Paper & Paperboard)
The global food packaging market is segmented and analyzed for demand and supply by material into plastic, glass, metal, paper & paperboard, wood, and others. Out of which, the plastic segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the wide use in form of containers, wraps, pouches, tubs, and others. Moreover, features such as, flexibility, spill proof, cost-effectiveness, and lightweight are some plus points that make plastic a most preferred material to be used in food packaging. Moreover, there has been an increase in the production of plastic across the globe, along with the use of plastic for convenient food packaging, that is anticipated to surge the segment’s growth in the market. As per the United States Environmental Protection Agency (EPA), 14.5 million tons of packaging and plastic containers were manufactured in 2018.
Type (Rigid, Flexible, Semi-Rigid)
On the other hand, the global food packaging market is segmented by type into semi-rigid, rigid, and flexible. Out of these, the rigid segment is anticipated to hold the largest market size in the upcoming years. This can be attributed to the presence of moisture, oxygen, and light in the rigid packaging that helps prevent food contamination. Moreover, there has been a rising consumption of fresh vegetable, fruit, and dairy product, which is increasing the use of rigid packaging. Hence, it is predicted to increase the growth of the rigid segment in the market.
Our in-depth analysis of the global market includes the following segments:
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Material |
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Type |
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Application |
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Asia Pacific Market Forecast
The Asia Pacific food packaging market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of market can be ascribed to the increasing urban population, growing demand for packaged food, the rise in online food ordering, and increasing disposable income in the region. Additionally, there has been surging awareness among the businesses, and consumers for sustainable packaging, and it is expected to boost the market’s growth in the region. Furthermore, a rising demand and export for frozen food in the countries such as China, and India, is predicted to add up the global market. According to the World Bank data, in 2021, the ratio of urban populations in East Asia and the Pacific reached 61% of the total population of the region. Moreover, the China exports of agri-food commodities accounted for nearly USD 64 billion in the year 2019.
Mondi plc has partnered with Heiber + Schröder to launch the eComPack automatic packaging machine to automate the packaging of its EnvelopeMailer for eCommerce operations.
Berry Global Inc. has started the initiative with Taco Bell to manufacture plastic cup with post-consumer recycled plastic. Taco Bell has scheduled to test the new, clear polypropylene (PP) cup in select U.S. restaurants in the latter part of 2022.
Author Credits: Sadaf Naaz, Mohd Shadab
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