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Food Packaging Industry Trends 2024, Leading Companies Share, Size and Forecast Report By 2032

The Food Packaging Industry Research analysis presents estimations of growth, size, and projections for each Industry segment, accompanied by trends and forecasts based on revenue (in USD million). This report encompasses historical, current, and prospective analyses and appraisals for the Food Packaging Industry. 

The global food packaging Industry size was valued at USD 456.00 billion in 2022 and is projected to rise from USD 479.73 billion in 2023 to USD 714.16 billion by 2030, growing at a CAGR of 5.85% during the forecast period.

The change in eating habits and the quickening pace of life has driven the demand for packaged food and is expected to significantly impact the food packaging industry. Moreover, the benefits offered by food packaging such as extended and stable shelf-life, high barrier properties, and safety, thereby boosted the food packaging industry’s growth. Factors such as the use of high-performance materials and the availability of diverse material compositions in the Industry are expected to aid the growth of the food packaging industry.

Food packaging provides various key benefits such as the prevention of food contamination and improvement of food shelf-life along with heightened efficiency. These are expected to boost the food packaging industry’s growth. Moreover, the shrinking household size, rising disposable income, and the increasing population are also expected to positively impact the Industry.

The growth of the industry in the U.S. is expected to be fueled by the rising popularity of single-serve packs and the growing urban population percentage leading to the growing consumption of packaged food. Industry growth. These factors are also supported by increasing infrastructural developments for the recycling of glass, metals, and plastics. However, concerns regarding wastage due to improper packaging may hamper growth.

The bargaining power of buyers in the food packaging industry is expected to remain high during the forecast period. The packaged food industry is characterized by the presence of a large number of buyers, which is expected to increase over the forecast period. In addition, buyers seek innovative and customized solutions for their products and exhibit high levels of price sensitivity. Furthermore, they often resort to material substitution.

China is the largest consumer of packaged food because of its growing economy and large population base. The Industry in China expected to flourish at a prominent rate due to its intensifying middle-class population along with their rising purchasing power. Among other Asian countries, India is the fastest growing Industry in consequence of increasing usage of the products in retail chains.

On the contrary, high rate of consumption of packaged food by consumers, thriving retail sector, as well as the presence of large number of manufacturers are the key factors projected to propel the demand for food packaging solutions in North America. Despite of high saturation level, Europe predicted to register a positive outlook over the analysis period. Single Industry policy within European countries allows free-trade that expected to encourage exports, consequently fuels the Industry growth.

Source- https://www.fortunebusinessinsights.com/industry-reports/food-packaging-market-101941

Industry Scope of the Report:

The Industry estimates presented in the report result from a comprehensive research approach involving various research channels such as primary research, secondary research, and subject-matter expert consultations. These Industry estimates consider the influence of existing Industry dynamics and a range of economic, social, and political factors on the Food Packaging Industry. Additionally, the Industry data is shaped by regulations, government expenditures, and advancements in research and development. Both positive and negative Industry changes are factored into these estimations.

Industry Segmentation:

The study offers detailed segmentation of the global Food Packaging Industry based on Type, End User, and region. The report provides in-depth discussions of these segments and their sub-divisions, supported by tables and figures. Industry players and investors can strategize their approaches based on the high-revenue and rapidly growing segments highlighted in the report.

Research Approach:

The report incorporates primary information collected directly from key stakeholders through quantitative and qualitative analyses utilizing the Porter Five Force model’s parameters. The report emphasizes macroeconomic indicators, trends within the parent Industry, and growth drivers. A comprehensive understanding of the Industry is achieved through both primary and secondary research. Rigorous checks were performed on the data used in the report to ensure its authenticity and quality. The credibility of evaluations and Industry segments is established using both bottom-up and top-down methodologies.

Key Inquiries Addressed in the Food Packaging Industry:

  1. What is the global Industry size for the Food Packaging Industry?

  2. Which screen size is most preferred by Food Packaging consumers?

  3. What distribution channel is preferred by Food Packaging manufacturers?

  4. Which age group is the target for Food Packaging manufacturers?

  5. What factors drive or hinder Industry growth, and how do these factors impact the Industry?

  6. How do regulations affect the growth of the Food Packaging Industry?

  7. Which region or country leads in Industry growth?

  8. How will emerging Food Packaging Industry perform in the coming years, and how will consumption patterns evolve?

  9. Who are the major players in the global Food Packaging Industry? What is their current Industry position? Who are the emerging players in this industry?