Global Food Packaging Market Size, Segmentation, Trends and Growth Analysis Forecast by 2030

Food Packaging Market Overview and Analysis:

The Global Packaged Food Market is currently valued at USD 2.1 trillion in the year 2022 recording a CAGR of 6.5% over the forecast period, 2023-2030.

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Packaged food includes processed products such as meat and vegetables in preserved, canned, frozen, and other forms, as well as snacks and pre-packaged food items. Packaged food, other than potentially hazardous food, that is still packaged and is still wholesome, may be reserved.

The growth of the packaged food market can be attributed to innovations in processing techniques for extending the shelf life of food products. Furthermore, changes in food consumption patterns brought upon by the increasing working population all around the world drive market growth. Improvement in the retail infrastructure has increased the availability of packaged goods and this growing ease of acquiring food stuff combined with options of free home delivery and different promotional offers has led to the growth of the global packaged food market. 

Food Packaging Market Latest Trends:

Recyclable and biodegradable packaging materials like plant-based plastics are becoming more common in food packaging. Furthermore, active and intelligent packaging technologies are also gaining popularity as they can extend the shelf life of food products and improve food safety. Thus, due to these reasons, the demand for packaged food is growing significantly and driving the growth of the studied market.

Segmentation:

Food Packaging Market is expected to register a CAGR of 7% over the forecast period. The Food Packaged Market is Segmented

By Product Type

• Packaged Food Bakery
• Food Dairy Products
• Breakfast Products
• Meals
• Beverages
• Other Products

Distribution Channel

• Supermarket/Hypermarket
• Convenience Store
• Online Market
• Other

Distribution Channels Packaging Materials

• Plastic Tetra Pack
• Metal Cans
• Other

Geography

• North America
• Europe
• Asia-Pacific
• Middle East
• Africa
• South America

The report offers the value (in USD million) for the above segments.

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Drivers Food Packaging Market Growing Health Concerns and Increasing Awareness of Hygienic Food Products

An article published by PubMed Central in June 2021, reported that with the presence of widespread coronavirus, the chances for the spreading of this virus significantly increase through food products. To manage food safety risks and also the chances of food contamination, the food industry should strictly follow the Food Safety Management System (FSMS). The article also quoted that FSMS, the prerequisite programs are mandatory requirements, which include good hygiene practices, cleaning, sanitation and sanitization, area zoning (high risk and low risk), supplier evaluation and control, storage, logistics and supply chain, housekeeping, personnel hygiene, and also medical checkup to ensure fitness for the packaged foods. Thus, such awareness and concerns about packaged food are expected to drive the growth of the studied market over the forecast period.

Similarly, another article published by the Journal of the International Association of Agricultural Economists reported that in June 2022, reported that the global burden of food-borne infections (FBI) burden has emerged in the past decade, and along with this awareness, food safety economic research in lower and middle-income countries has evolved which has led to the development of packaged food. Thus, due to the above-mentioned reasons the market is expected to witness significant growth over the forecast period.

Food Packaging Market New Product Launches and Developments

Furthermore, the continuously burgeoning packaged food industry of the global market is driven by continuous innovation in the market, supported by augmenting consumer demand. For instance, in April 2022, Nestle’s brand DiGiorno launched Stuffed Pizza Bites—snack-sized rolls of its flagship pizza made with 100% real cheese. New DiGiorno Stuffed Pizza Bites are available in four varieties and can be prepared in the oven, air fryer, or microwave depending on your crust preference - pepperoni, supreme, three meat, and four cheese. Thus, such product launches are expected to drive the growth of the studied market over the forecast period.

Restraints 

Food Packaging Market

Food Packaging Market Stringent Government Regulation Government regulation in the food packaging industry serves to protect consumers’ interests and health. The downside is that it can also stifle industry growth if there is too much regulation in place. Regulation by both the EU and FDA covers packaging manufacturing practices, banned substances, food contamination, and material-specific policies. The FDA is often seen as less restrictive than the EU because it has faster approval times and allows for a less restrictive packaging material designation known as “Generally Recognized as Safe” (GRAS). Regulation is important because when food packaging fails it can lead to bacteria growth and human health problems. Thus, such stringent regulation in the packaged food industry is expected to slow down the growth of the studied market over the studied period.

COVID-19 Impact and the Russian War Impact on Food Packaging Market

The COVID-19 pandemic has had a significant impact on the growth of the food packaging market. For instance, an article published by the journal Sustainability, Science Practise, and Policy in June 2022, reported that a survey conducted among 1000 people living in one part of Melbourne, Australia recorded that people in that area reported an increase in their spending on packaged food eating by 1.1%. Thus, such instances are supposed to have increased the demand for packaged food in the country, thus positively impacting the growth of the studied market. In the current scenario, an article published by the journal MDPI in February 2022, stated that bread and bakery products are an essential part of the daily diet, and with the development of novel technologies leading to the development of better-packaged food, and also due to safety concerns of packaged food, the customers are opting more such foods, thereby the market is expected to witness growth over the forecast period. Furthermore, the Russian war led to a lot of supply chain disturbance, and the market faced significant challenges and the growth of the studied market may slow down over the forecast period.

Food Packaging Market Trends

By Product Type The Dairy Product Segment is Expected to Witness Significant Growth Over the Forecast Period Dairy products or milk products, also known as lacticinia, are food products made from (or containing) milk. The most common dairy animals are cows, water buffalo, nanny goats, and ewes. Dairy products include common grocery store food items in the Western world such as yogurt, cheese, milk, and butter. A facility that produces dairy products is known as a dairy.

Moreover, the demand for plant-based food alternatives is increasing among consumers, owing to growing awareness about animal welfare. Plant-based dairy product alternatives such as soy milk, almond milk, non-dairy ice creams, cheese analogs, and whipped cream are rapidly moving into the mainstream retail market, owing to the growing perception that plant-based products are healthier and safer.

Moreover, the new product launch is expected to drive the growth of the studied market. For instance, in February 2022, Perfect Day, Inc., creator of the world’s first animal-free dairy protein, and better land foods, launched the first-ever retail launch of animal-free milk. Better land milk will be available in retailers this summer. The launch marks a milestone moment for both companies and the industry — a USD 17 billion category with 95% household penetration. Thus, due to the above-mentioned reasons the market is expected to witness significant growth over the forecast period.

By Distribution Channel

Food Packaging Market Supermarket/Hypermarket is Expected to Witness Significant Growth Over the Forecast Period. A supermarket is a large store, but a hypermarket is much bigger than a supermarket. Hypermarkets store a higher number of FMCG products than supermarkets. Since the supermarket is highly accessible and people can easily go and find suitable packaged food, the demand for packaged food has significantly increased in the supermarket, thereby driving the growth of the studied market.

By Packaging Materials Tetra Pack is Expected to Witness Significant Growth Over the Forecast Period.

Tetra pack is the most common name for aseptic cartons used for liquid food items which have to be stored for up to one year without refrigeration. Tetra Pak aseptic processes allow liquid food to retain colour, texture, natural taste, and nutritional value for up to 12 months, without the need for preservatives or refrigeration. Thus, due to such benefits, the demand for tetra packs is expected to increase over the forecast period.

North America is Expected to Dominate the Packaged Food Market Over the Forecast Period

North America is expected to witness significant growth in the packaged food market over the forecast period owing to the popularity of packaged fermented or fortified food and beverages attributed to their perceived health benefits.

Furthermore, the recent developments in the region are expected to contribute to the growth of the studied market over the forecast period. For instance, in May 2022, General Mills acquired TNT Crust from private equity firm Peak Rock Capital. TNT Crust produces frozen pizza crusts for regional and national pizza franchises, food service distributors, and retail stores. Additionally, owing to the allergies caused by animal-based products, the percentage of consumers looking for alternatives has also increased. This has created a good platform for the growth of plant-based products. The production of plant proteins is considered more environmentally economical than animal proteins. Thus, the above-mentioned factors are expected to contribute to the growth of the studied market over the forecast period.

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Competitive Landscape:

The major players in the market have been indulging in strategies like product innovation, mergers, acquisitions, partnerships, and geographical expansions, which have leveraged them to gain an esteemed position in the market. Owing to the changing tastes and preferences of consumers, there has been considerable development of products by various global and regional players. Global packaged food is highly fragmented, with major players operating in the market, including

Major Players : 

• Nestle SA.
• Coca-Cola Company
• PepsiCo Inc.
• General Mills

Recent Developments:

1) In January 2023, PepsiCo Inc. launched Pepsi Zero Sugar which provides a zero-sugar recipe to consumers. According to the company, it is constantly identifying consumer trends and preferences and working to create flavor profiles that meet consumers' ever-evolving needs.

2) In December 2022, PepsiCo Inc. launched "Doritos After Dark" in partnership with PepsiCo Foodservice Digital Lab2 and Popchew. According to PepsiCo Inc. (Frito-Lay's) latest Snack Index1, forty-three percent of consumers and half (49%) of Gen Z agree that snacking is the most satisfying after dark and thus tapped into the opportunity to launch "Doritos After Dark.

Frequently Asked Questions (FAQ) :

Q1. What is the market size of the Food Packaging Market ?

Q2. Which are the major companies in the Food Packaging Market ?

Q3. What is the latest trends of Food Packaging Market ?

Q4. What segments are covered in the Food Packaging Market Report ?