(Food-Beverage-News.Com, February 12, 2018 ) The Global Food Packaging Market was worth USD 271.14 billion in 2016 and estimated to be growing at a CAGR of 4.00%, to reach USD 329.88 billion by 2021. The gaining importance of this market can be attributed to increased demand for processed and packaged food and visual appeal of packaged food and convenience for use.
The food industry is largest industry globally and plays a vital role in the economy of a country. Food products have to be packaged in a robust manner to avoid spoilage due to micro-organisms. Food packaging ensures the extension of shelf life of the products within highly sterile environments that restricts the growth of the microorganisms that are responsible for the decay and spoilage of food products.
The main drivers for the progress of this market are increase in demand for processed and packaged food to adapt to the rapid changing lifestyle in developing countries and developed countries and shifting population dynamics to urban areas, increasing consumer awareness regarding the current environmental concerns and gradual alteration of buying habits. However the environmental concerns regarding the poor bio-degradability of plastics can hinder the growth of this market. Additionally, technological improvements in the synthesis of these packaging materials improves the growing potential of this market
The Global market for Food Packaging is broadly categorized into Material, Type and Application. Based on Material – Paper and Board, Metal, Rigid Plastic, Flexible Plastic, Glass and Others. Based on Type – Rigid, Semi-rigid and Flexible. Based on Application – Bakery, Confectionary, Convenience Foods, Dairy Products, Fruits and Vegetables, Sauces, dressing and condiments and Others. Based on geographical analysis the market is categorized into regions of North America, Asia Pacific, Europe, Latin America and Middle East and Africa. Asia Pacific is leading this market with highest share and Europe is second. Asia Pacific is also the fastest growing region due to its growing urban population and rapid lifestyle changes in developing countries.
Some of the key players dominating the market include Amcor Ltd., Rock-Tenn Company, Crow Holdings, Owens-Illinois, Rexam, Tetra Pak, Anchor Packaging, CKS Packaging, McCain Foods, Kellogg’s, Cargill Inc.
Food Packaging Market Segmentation: Material Introduction Paper and Board Metal Rigid Plastic Flexible Plastic Glass Others Y-o-Y Growth Analysis, By Material Market Attractiveness Analysis, By Material Market Share Analysis, By Material
Type Introduction Rigid Semi Rigid Flexible Y-o-Y Growth Analysis, By Type Market Attractiveness Analysis, By Type Market Share Analysis, By Type
Application Introduction Bakery Confectionary Convenience Foods Diary Products Fruits and Vegetables Sauces, dressings and condiments Other Applications Y-o-Y Growth Analysis, By Application Market Attractiveness Analysis, By Application Market Share Analysis, By Application
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