Food Packaging Market Overview
Food Packaging is an essential factor to ensure the protection of food materials. The reports published by Market Research Future reveals that food packaging market is estimated to develop at 4% CAGR over the forecast period 2017-2023.The food packaging market is driven by several other factors such as progressions in materials integrated for packaging of food products, the patterns of consumers shifting towards processed & specialty food, collectively with increasing consumer awareness about the need for quality food packaging.
Rise in demand for processed food products with higher shelf life and rapid increase in global population are majorly impacting on the global food packaging market, leading to the expansion of the global market for food packaging. Introduction of wide variety of food products that require good quality packaging to maintain their quality is propelling the growth of the global food packaging market.
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Key Players
The global food packaging Industry is dominated by key players such as
- Coveris Holdings S.A (Luxembourg)
- Amcor Limited (Australia)
- E. I. du Pont de Nemours and Company (U.S.)
- The Smurfit Kappa Group plc (Republic of Ireland)
- Bemis Company, Inc. (U.S.)
- Mondi Plc (Austria)
- D.S. Smith Plc. (U.K.)
- International Paper Company (U.S.)
- RockTenn Company (U.S.)
- Silgan Holdings Inc. (U.S.)
Industry Updates
In October 2018, it was announced that the Gneuss MRS recycling process has passed the EFSA challenge test for processing of 100% post-consumer PET in Europe and has been approved worldwide for food packaging
In October 2018, Evoware, an Indonesian startup that designs food wrapping and sachets, has come up with an edible food packaging alternative. This packaging is made out of seaweed and is being used for three different purposes that include package coffee, noodle seasonings and wrappers for burgers.
In October 2018, Mondelez International, an American multinational confectionery, food and beverages company, has announced that it will shift to all recyclable packaging by the end of 2025.
Food Packaging Industry Segmentation
Global food packaging market is segmented based on application, region, type, and material. Based on application, the market is segmented as dairy, bakery & confectionery, fruits, vegetables, meat, and others. Amongst these, the meat industry is the most lucrative within the food packaging market. The growing preferences of the consumer for protein-rich food are in turn, resulting into increased consumption of seafood and meat. The busy lifestyle of the customers is propelling the demand for frozen foods. Based on region, the food packaging market is segmented into Asia-Pacific, North America, Europe, and Rest of the World. Based on type, the market is segmented as cans, bottles, boxes, pouches, and others. Amongst these, boxes type food packaging contributed towards the largest revenue share of the food packaging market over the forecast period. Boxes are normally made up of corrugated paper and they offer extremely strong tertiary packaging to the food products. Additionally, pouches are generally made of plastic, which offers better design flexibility for food packaging manufacturers and facilitates optimum consumption of shelf space. Based on material, the market is segmented into paper & paperboard, metal, glass, plastic, and others.
Regional Analysis
North America market is anticipated to contribute primarily to the food packaging market followed by Asia Pacific and Europe market. However, the North America market is estimated to be at the maturity stage of the product life cycle process, which makes the market saturated and restricted for prominent growth. The Asia Pacific market is expected to witness remarkable growth owing the presence of emerging economies such as India and China. The growing population in this market coupled with the surging per capita income drives the food packaging market significantly. Additionally, the preference for processed foods fuel the demand for food packaging market in APAC. The growth is further likely to expand owing to the application of innovative technologies in food packaging.
Table Of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
Continues…….
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List Of Figures
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 MARKET DYNAMICS
FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS
FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS
FIGURE 6 PORTER’S FIVE FORCES ANALYSIS
Continues…..
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