Food Packaging Market (By Type: Rigid, Flexible, Semi-rigid; By Material: Paper & Paper-based, Plastic, Metal, Glass; By Application) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

The global food packaging market was surpassed at USD 346.7 billion in 2021 and is expected to hit around USD 562.68 billion by 2030, growing at a CAGR of 5.53% from 2022 to 2030.

Food Packaging Market Size 2021 to 2030

Report Highlights

  • The flexible segment accounted for the largest revenue share of over 40.04% in 2021 and is expected to witness significant growth during the forecast period. 
  • The rigid packaging segment is expected to register a CAGR of 4.53% from 2022 to 2030. 
  • Plastic emerged as the leading material segment with a revenue share of over 35.09% in 2021. 
  • The paper and paper-based segment has been witnessing an upsurge in terms of demand globally and is expected to register a lucrative CAGR of 6.6% over the forecast period. 
  • The metal segment is anticipated to expand at a CAGR of 5.3% over the forecast period. 
  • The bakery and confectionery segment held the largest revenue share of over 25.5% in 2021. 
  • The meat, poultry, and seafood segment are expected to exhibit a CAGR of 6.08% during the forecast period. 
  • The Asia Pacific region held the largest revenue share of over 35.2% in 2021. 

Increasing food delivery services globally and high demand for single-serve and portable food packs are expected to propel the industry growth over the next few years.

Rising concerns among consumers regarding contamination and food safety are predicted to bolster the demand for effective packaging solutions. In addition, an increasing number of retail chains globally, especially in developing economies such as China, India, and Brazil, is anticipated to propel the sales of packaged food, consequently driving the market.

Packaging products made of plastic are affordable and they feature strong barrier properties, which contribute to their wide use in the food & beverage industry. Government interventions in plastic product production have prompted producers operating in the plastic food packaging industry to use eco-friendly and sustainable raw materials in their products.

The global market is expected to be buoyed by the introduction of new and innovative packaging types and technologies, including modified atmosphere packaging (MAP), active packaging, and printing technologies. Additionally, players are investing in lightweight materials and materials with a high performance, which is further expected to benefit industry growth.

The hectic work schedules of consumers and the increased demand for convenient food options drive the market for packaged food items in North America. Moreover, the flourishing e-commerce industry in different countries of the region such as Canada and Mexico is fueling the sales of packed food items across the region.

Scope of The Report

Report Coverage Details
Market Size in 2021 USD 346.7 billion
Revenue Forecast by 2030 USD 562.68 billion 
Growth rate from 2022 to 2030 CAGR of 5.53%
Base Year 2021
Forecast Period 2022 to 2030
Segmentation Type, material, application, region
Companies Covered

Amcor plc; Sealed Air; Sonoco Products Company; Berry Global, Inc.; WestRock Company; Mondi; Genpak LLC; Pactiv LLC; Chantler Packages; WINPAK LTD; Alpha Packaging; CuBE Packaging; Cheer Pack North America; Evanesce Packaging Solutions Inc; Pacmoore Products Inc.; Innovative Fiber; Emmerson Packaging; PakTech; Tradepak; ProAmpac

 

Type Insights

The flexible segment accounted for the largest revenue share of over 40.04% in 2021 and is expected to witness significant growth during the forecast period. Factors such as shrinking household sizes and increasing snacking have encouraged the development of flexible packaging materials, such as peel-off foil, peel-off plastic, and peel-off paper in the food industry.

Flexible packaging products such as bags are preferred for rigid packaging by end-user companies since the former consumes fewer resources, making it more environmentally friendly. This trend is likely to accelerate the growth of bags and pouches as a preferred packaging type over the forecast period.

The rigid packaging segment is expected to register a CAGR of 4.53% from 2022 to 2030. The demand for rigid food packaging is projected to be driven by its applicability and functionality of offering high protection to packaged food such as ready-to-eat food products and single-serve food, which are highly popular.

The demand for fresh food products such as fruits and vegetables, along with processed protein-rich fish and meat, is steadily growing in countries such as Canada, China, and India owing to health awareness among the masses. Rigid products are extensively utilized for the packaging of these products, contributing to segment growth.

Material Insights

Plastic emerged as the leading material segment with a revenue share of over 35.09% in 2021. Plastic packaging products such as trays, containers, tubs, wraps, pouches, and others are extensively utilized in the food & beverage industry for packaging convenient food, frozen meals, carbonated and non-carbonated beverages, and snacks.

The paper and paper-based segment has been witnessing an upsurge in terms of demand globally and is expected to register a lucrative CAGR of 6.6% over the forecast period. As consumers seek eco-friendly packaging, companies have adapted environmentally friendly packaging in conjunction with changing regulatory environments that place greater emphasis on environmental protection.

The stringent regulations governing packaging products are expected to pose several challenges. California, Delaware, Connecticut, Maine, Hawaii, New York, Vermont, and Oregon are among the states that have banned single-use plastic bags. This trend is expected to impact the growth of plastic materials in the North American market for food packaging over the forecast period.

The metal segment is anticipated to expand at a CAGR of 5.3% over the forecast period. Aluminum has become a popular choice for home packaging due to its ability to be cooled and heated for sterilization. Additionally, stringent regulations regarding the use of plastics are expected to support the demand for metal packaging solutions over the forecast period.

Application Insights

The bakery and confectionery segment held the largest revenue share of over 25.5% in 2021. Bakery and confectionery products are generally packed in high moisture barrier packaging to extend their shelf life. Flexible packaging is widely used for the aforementioned application owing to its advantages such as lightweight, printability, and cost-effectiveness over paper cartons and tins. Furthermore, the attractive packing of confectionery products is expected to boost the segment growth.

The bakery and confectionery segment is expected to witness growth over the forecast period. The convenience offered by prepared or ready-to-eat bakery products makes it a popular choice for dual-earner households and students. Thus, high acceptance of packaged food is expected to fuel the growth of the bakery and confectionery segment.

Consumer inclination toward dairy products in smaller packs due to shrinking households is anticipated to augment market growth. Adoption of attractive food packaging strategies by manufacturers is also likely to boost the segment growth. Moreover, the rising demand for dairy products such as yogurt and ice cream is expected to augment the growth.

The growing presence of vegans in the region has increased the growth opportunities for companies that operate in the plant-based packaged food industry. The demand for ready-to-eat meals is expected to witness significant growth during the forecast period.

The meat, poultry, and seafood segment are expected to exhibit a CAGR of 6.08% during the forecast period. The versatility offered by packaging solutions such as bags, sacks, aluminum films, glass bottles, and containers in the form of heat insulation, moisture resistance, ease of storage, and aroma retention enables their increased use in meat, poultry, and seafood.

Regional Insights

The Asia Pacific region held the largest revenue share of over 35.2% in 2021. The industry is expected to be driven by increasing population, rising per capita income, and growing demand in emerging economies such as China, Japan, and India in the Asia Pacific region. China is the largest consumer owing to its large population and growing economy. The market in China is expected to grow at a significant rate owing to its expanding middle-class population and rising purchasing power.

North America accounted for a considerable share in 2021. The shift in consumer preferences toward meat alternatives along with the growing vegan population is anticipated to open new growth avenues for the food packaging companies as Beyond Meat; AMY’s Kitchen Inc.; and Morning Star Farms are companies witnessing considerable growth over the past few years, aiding the growth of the market.

The penetration of e-commerce has been considerably growing in the region owing to the increased adoption of the internet and the emergence of various e-commerce-based services in the country. In 2021, over 66% of the Canadian population purchased products online, and the percentage is projected to cross the 77% mark by 2024.

Online distribution of packaged food products creates additional packaging requirements owing to the extensive demand for logistics and supply chain activities. Therefore, the growing penetration of e-commerce in Canada is expected to contribute to the growth of the market in the region.

Key Players

  • Amcor plc
  • Sealed Air
  • Sonoco Products Company
  • Berry Global, Inc.
  • WestRock Company
  • Mondi
  • Genpak LLC
  • Pactiv LLC
  • Chantler Packages
  • WINPAK LTD.
  • Alpha Packaging
  • BE Packaging
  • Cheer Pack North America
  • Evanesce Packaging Solutions Inc.
  • Pacmoore Products Inc.
  • Innovative Fiber
  • Emmerson Packaging
  • PakTech
  • Tradepak
  • ProAmpac

Market Segmentation

  • By Type Outlook
    • Rigid
    • Semi-rigid
    • Flexible
  • By Material Outlook
    • Paper & Paper-based
    • Plastic
    • Metal
    • Glass
    • Others
  • By Application Outlook
    • Bakery & Confectionery
    • Dairy Products
    • Fruits &Vegetables
    • Meat, Poultry, & Seafood
    • Sauces & Dressings
    • Others
  • By Regional Outlook
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K.
      • Italy
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
    • Central & South America
      • Brazil
    • Middle East & Africa
      • Saudi Arabia

Report Detail

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