Food Packaging Market

The global food packaging market exhibited a robust growth of 6.3% in 2020.The market is expected to grow at a CAGR of 5.1% during 2021-2028. The augmenting demand for packaged products due to the changes in dietary habits and evolving lifestyles will leave an imperative impact on market.

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Food Packaging Market Dynamics

Food packaging market is the biggest application segment of the packaging industry and gauges for more than one-third of the international packaging market. Good food packaging provides protection and enlarges the shelf-life of products which captivates a large number of consumers. The market for food packaging is likely to expand over the coming years with the accelerating urban population. Also, the nation is experiencing huge changes in lifestyle and food choices with economic growth. The surge in the consumption of ready to eat food items has driven the market growth. Convenience features such as portability, easy opening, and single-use packaging has substantially bolstered the food packaging market size.

The ongoing technological modernizations in the food packaging industry, such as the evolution of smart and micro packaging wherein the packaging alters color if the food is adulterated and various research & development activities to introduce innovations in the packaging method will entice a huge consumer base to the market. There has been a rapid drift among consumers towards viable and eco-friendly packaging, which has compelled the market growth. However, the negative impacts of packaging material and the increasing agitation towards waste production has restrained the food packaging market share.

Type Segment Drivers

Based on the type, the Rigid Packaging segment is projected to experience a substantial growth over the forecast period. This is owing to the increasing enforcement of this sort of packaging for vegetables, fruits, and other perishable food products. Moreover, as per the food packaging market report, the rigid packaging offers various remarkable advantages such as the ability to withstand extreme environments, not degenerated easily in cold and hot temperatures, and better protection of the product.

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