According to the latest report by IMARC Group, titled “Food Packaging Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global food packaging market size reached a value of US$ 302.2 Billion in 2019. Food packaging plays a significant role in protecting food products from damage, spoilage, tampering and contamination during storage and transportation. Plastic, paper, cardboard, wood, glass and metal are some of the most common materials with which food packaging products are usually made. While ensuring that the taste and quality of the food items are not affected by toxins or moisture, food packaging also provides crucial information, such as the price, net weight, nutritional benefits, expiry date, date of manufacturing, which acts as a modern means for marketing products to the consumers.
Some of the major players operating in the industry include AMCOR PLC CDI 1:1 (AMC.AX), Crown Holdings, Inc. (CCK), Owens-Illinois, Inc. (OI), Bemis (BMS), Tetra Tech, Inc. (TTEK), Ball Corporation (BLL) and American Packaging Corporation (PKG).
Request Free Sample Report: https://www.imarcgroup.com/food-packaging-market/requestsample
Factors such as rapid urbanization, hectic lifestyles, inflating income levels and increasing consumption of snacks and frozen meals are boosting the overall sales of food packaging across the globe. Apart from this, the rising popularity of single-serve packs, which complement on-the-go consumption, is also strengthening the market growth. Furthermore, owing to the growing environmental concerns among end-users, there is an increase in the demand for sustainable and eco-friendly packaging, which is anticipated to fuel the market growth in the coming years. Owing to these factors, IMARC Group projects the market value to reach US$ 386.9 Billion by 2025, expanding at a CAGR of 4.2% during 2020-2025.
Market Breakup by Application:
- Bakery, Confectionery, Pasta, and Noodles
- Dairy Products
- Sauces, Dressings, and Condiments
- Snacks and Side Dishes
- Convenience Foods
- Meat, Fish, and Poultry
- Fruits and Vegetables
- Others
- Flexible
- Paper and Paperboard
- Rigid Plastic
- Glass
- Metal
- Others
Other Report by IMARC Group:
North America Home Security System Market Report 2020-2025
Night Vision Devices Market Report 2020-2025
Analgesics Market Report 2020-2025
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