Global Food Packaging Market anticipates Market Size to cross USD 415.8 BN by 2026
Posted On February 07, 2020
The Global Food Packaging Market size is expected to reach USD 415.8 BN by 2026, registering a revenue-based CAGR of 4.7% during the forecast period of 2020-2026, according to the latest report published by Value Market Research. The swelling population, rising disposable earnings and active lifestyles have governed the growing consumption of packaged food and ready-to-eat products. Besides, the world is undergoing rapid modifications in food priorities that are linked with the increasing population and economic expansion of the respective area. All these factors have acted significantly in driving the global food packaging market. Moreover, people are inclining toward processed food products as an outcome of shifting population dynamics from pastoral to the metropolitan regions which has fuelled the pace of growth of the market.
Food packaging has a significant position in preserving and transporting food products to its destination without influencing the quality. It conserves the quantities from moisture, prevents the food products from spillage and tampering, and enable to retain their shape and quality. Food packaging has also attained traction as a means of data transmission, such as the nutritional content, date of expiry, cost and origin of the packaged commodities. It also works as a contemporary marketing channel for dealers to lure consumers worldwide. Numerous advancements are observed in packaging norms and smart packaging techniques developed to enhance the quality of food. This will facilitate customers to spend on premium commodities, which is foreseen to drive the food packaging market growth in the forthcoming years.
The initial sections of the report "Global Food Packaging Market Report By Type (Rigid, Semi-Rigid And Flexible), By Material (Paper And Paper-Based Material, Plastics, Metal, Glass And Others), By Application (Bakery And Confectionary, Dairy Products, Fruits And Vegetables, Meat, Poultry And Seafood, Sauces And Dressings And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026" starts with the introduction, a crisp market summary followed by detailed revenue analysis as per segments and regions. The study researches the historical trends of the industry along with understanding all the geo-economic conditions related to the food packaging market, thus making the foundation of the report strong and reliable.
On the basis of type, food packaging market report is segmented into rigid, semi-rigid, and flexible type. Flexible food packaging will be witnessing a substantial growth during the forecast period in comparison to other types due to its benefits related to production, recycling & packaging design, shipping and handling among others.
On the basis of material, paper and paper-based material, plastics, metal, glass, and others are the segments in the report. Paper and paper-based materials dominated the material segment. By application, report is segmented as bakery and confectionary, dairy products, fruits and vegetables, meat, poultry and seafood, sauces and dressings and others.
Asia Pacific led the market as per geography due to rising population, increasing packaged food trends based on changing lifestyle and increasing disposable income.
The Report Segments Global Food Packaging Market -
- Paper And Paper-Based Material
- Bakery And Confectionary
- Dairy Products
- Fruits And Vegetables
- Meat, Poultry And Seafood
- Sauces And Dressings
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Players Profiled In the Report:
Amcor Ltd., American Packaging Corporation, Anchor Packaging, Ball Corporation, Bemis Company, Inc., Crown Holdings, Inc., DS Smith PLC., and Georgia Pacific Corporation.
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