The global food packaging market size is expected to increase from USD 353.7 billion in 2023 to USD 592.8 billion by 2033. In 2022, the worldwide food packaging industry was valued at USD 335.9 billion. Over the forecast period from 2023 to 2033, global food packaging sales are anticipated to rise at 5.3% CAGR.
A new estimation predicts global food packaging demand to rise at a significant pace during the assessment period. The target market is likely to expand 1.7x times the current market value during the forecast period, generating an attractive incremental growth opportunity of USD 256.9 billion.
As per Future Market Insights (FMI), dairy products segment by application held a share of about 25.3% in 2022 within the global market. This is due to rising consumption of dairy products globally and growing need for highly-efficient packaging in dairy sector.
Demand in the global market remains particularly high for plastic food packaging. The plastic material segment held a share of around 41.6% of the global food packaging industry. Further, it is expected to thrive at a CAGR of around 5.1% over the forecast period.
Key Factors Shaping Market Dynamics:
Food packaging refers to packaging solutions used to protect, store, and preserve food products during distribution, sales, and consumption. Adoption of food packaging allows food processing companies to safeguard food from external elements such as moisture, light, and microorganisms as well as extend their shelf life.
Packaging is also useful for portraying vital information like nutritional facts, manufacturing & expiration dates, ingredients, etc. Further, it plays a crucial role in branding and product differentiation.
Food packaging is generally of three types. These include primary packaging, secondary packaging, and tertiary packaging. High adoption of these food packaging for protecting and extending a wide range of food products is expected to boost the global food packaging industry through 2033.
Growing consumer demand for processed & packaged food products globally due to increasing population and rising disposable income is likely to uplift food packaging demand.
People across the world are showing a keen interest in convenience food due to its easy portability, long shelf life, and ready-to-eat features. Rising demand for ready-to-eat meals, ready-to-eat snacks, and other food items is anticipated to fuel market expansion.
Similarly, escalating demand for convenient and easy-to-use packaging solutions such as resealable options and microwaveable containers is likely to foster market development.
As per Future Market Insights, plastic and paper segments are expected to hold a dominant portion of the global food packaging industry.
In the past decade, plastic was considered an ideal material for food packaging due to its advantageous characteristics. The plastic packaging formats such as jars, boxes, bottles, and many others are economical, lightweight, functional and versatile. Therefore, the end users were having significant traction for the plastic material.
However, due to stringent regulations on food contact packaging material in North America and Europe, the consumption of plastic containers for storage and packaging of food is witnessing declining growth. The ban on single-use plastic is also creating packaging challenges in Europe and other regions.
These challenges are slightly suppressed with the innovation of bioplastic material and PCR plastic. This trend is also shifting to South Asia and East Asia markets therefore; the overall market share of plastic is expected to remain high.
On the other hand, paper packaging in confectionery and bakery products is increasing rapidly. Consumers are more focused on the use of packaging formats that have less impact on environment. Therefore, the demand for paper packaging in food industry is expected to increase two times in the next five years.
Advancement in packaging technologies and materials such as bio-based polymers, smart packaging, and nanotechnology is another prominent factor boosting the target market.
| Attributes | Key Insights |
|---|---|
| Estimated Food Packaging Market Value (2023) | USD 353.7 billion |
| Projected Market Size (2033) | USD 592.8 billion |
| Value-based CAGR (2023 to 2033) | 5.3% |
| Collective Value Share: Top 5 Countries (2022A) | 25% to 35% |
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According to Future Market Insights (FMI), historically from 2018 to 2022, global sales of food packaging grew at a CAGR 4.2%. Total market value at the end of 2022 reached about USD 335.9 billion.
Looking ahead, the global food packaging industry is projected to reach a valuation of USD 592.8 billion, exhibiting a CAGR of 5.3% throughout the forecast period.
Rising demand for packaged food products across the globe is a prominent factor driving the worldwide food packaging industry.
Food packaging has undergone various changes from being simply a container to now having the ability to influence food quality.
Many packaging are merely simple storage containers, but they have special capabilities that serve to safeguard the food. Barriers that keep oxygen, water, and taste out are among them. Some microwave packaging, as well as packaging with absorbers built in to remove oxygen from the air, are included as well.
Modern food packaging not only contains and protects food, but it may also help with inventory control, consumer education, greater market availability and shelf life, and even ensuring the product's safety, where practicable and suitable. New and essential possibilities for maximizing the role of packaging have emerged as nanotechnology and other technologies have progressed.
Consumer inclination towards hygiene and clean room packaging for consumable products is positively impacting the food packaging industry.
Manufacturers and end users are taking extra precautions for maintaining quality and shelf life of food products using technology-oriented packaging formats such as modified atmospheric packaging (MAP) and vacuum atmospheric packaging (VAP).
Interactive food packaging is gaining significant traction among health-conscious consumers. Future Market Insights (FMI) team predicts that the global food packaging market to expand twofold over the assessment period.
Food Packaging Capturing Value from Next Gen Smart Packaging Revolution:
Smart packaging is offering value added ways to package products, providing cost-effective packaging solutions to monitor environmental conditions of the food products in the supply chain. It is a combination of active and intelligent packaging that offers dual benefits of quality assurance and consumer interaction.
Addition of antioxidants, antimicrobials, moisture absorbers, VAP, MAP, and others in the packaging is rising rapidly to show down ripening of the food products and end shelf shelf life by reducing microbial growth. Therefore, the end users have more demand for active food packaging.
As per the quality insights published by Oli-tec, one of the leading manufacturers of food packaging, around 1.3 billion tonnes of food is wasted every year. The food losses and waste amounts to nearly USD 680 billion in industrialized countries and USD 310 billion in developing countries.
In order to minimize food waste, most manufacturers are inclined towards using intelligent and active packaging. This is expected to create lucrative growth opportunities for food packaging manufacturers.
Companies such as Oli-tec produce labels that give visual alerts of time and temperature conditions. Through this intelligent packaging, consumers get an idea about what is the remaining shelf life of the product and when the product should be discarded.
On the other side, intelligent packaging is helping to connect with consumers through data-encrypted technology such as barcodes, QR codes, RFIDs, etc. The consumption of these products in the food packaging is increasing at a fast pace. Along with this, the demand for time temperature indicator labels (TTI) labels is also expected to witness high growth during the assessment period.
Edible Packaging Creating Boom in the Global Food Packaging Industry:
Today, both manufacturers and consumers are concerned about increasing packaging waste after use and its impact on the environment. In the past decade, traditional materials used in food packaging created tonnes of packaging waste lying in landfills. The recycling rate of the same was too low.
As per the waste statistics highlights presented by Eurostats, plastic packaging waste generated in Europe in 2019 was recorded as 35 kg/capita whereas the recycling of plastic waste reached hardly 15 kg/capita.
These stats represent that almost 25 kg/capita plastic waste is still not in the recycling or reuse process. Looking at these facts, various end users and manufacturers switched to either use PCR material packaging, or switch to an alternate approach of packaging.
Edible packaging is the emerging concept of food packaging that results in zero waste and is designed to be eaten after use. This also resulted in zero wastage. A new form of edible packaging is made from milk protein. As per the survey, it is found that these casein films keep the food fresh and less exposed to oxygen.
Future Market Insights (FMI) predicts that edible food packaging will be the next normal of food packaging and amplify sales of the global market during the projection period.
Significant Growth in the Convenience Food Market to Uplift Food Packaging Demand:
Consumers want convenience solutions in all parts of their lives in a fast-paced society where no one ever stops. Every actor in the food industry value chain will have to alter if they want to stay relevant as a result of these drastic, fast-paced changes in customer demands.
Many consumers have shifted their in-store decision-making to online shopping with the help of several food purchasing smartphone apps, causing massive retail disruption. Various brick-and-mortar grocery stores are seeing their dominance shift as a result of these changes. Customers' requests for dairy and food brands, on the other hand, have not slowed down as a result of this.
With this continual surge of customer demand, the food category of readymade meals is at an all-time high, and manufacturers are scrambling to keep up. With an average growth rate of 32%, pre-packaged ready made meals, prepared meal kits, chilled and frozen side dishes and desserts, and microwavable prefabricated meals top the convenience food pack.
Dairy is in second place, with an average growth rate of 26%. Growing demand for packaged food products along with rising inclination towards convenience food packaging in turn is expected to propel growth of the market.
Principal Consultant
| Country | United States |
|---|---|
| Market Share (2023) | 13.4% |
| Market Share (2033) | 12.4% |
| BPS Analysis | -100 |
| Country | China |
|---|---|
| Market Share (2023) | 10.7% |
| Market Share (2033) | 12.0% |
| BPS Analysis | 130 |
| Country | India |
|---|---|
| Market Share (2023) | 8.6% |
| Market Share (2033) | 9.2% |
| BPS Analysis | 60 |
| Country | Germany |
|---|---|
| Market Share (2023) | 12.7% |
| Market Share (2033) | 18.8% |
| BPS Analysis | 610 |
| Country | Japan |
|---|---|
| Market Share (2023) | 4.5% |
| Market Share (2033) | 4.6% |
| BPS Analysis | 10 |
Rising Consumption of Diary Products Boosting the United States Food Packaging Industry
As per Future Market Insights (FMI) analysis, the United States is estimated to lead the global food packaging industry by holding around 13.4% value share during the assessment period. By 2033, the United States food packaging industry is expected to reach a valuation of USD 73.5 billion.
Rising consumption of packaged food products, especially dairy items, and growing need for innovative packaging solutions are key factors driving the United States food packaging market.
The population in the United States is becoming health conscious and is shifting towards fresh and dietary products. According to the USA DEPARTMENT OF AGRICULTURE (Economic Research Service), the total production of farm milk accounted for 228.4 billion pounds in 2023 and it is anticipated to reach 230.6 billion pounds in 2024.
It has been witnessed that the United States is in a second leading position for milk production and therefore, the consumption of dairy-based products is rapidly increasing. This in turn is creating high demand for food packaging solutions.
Growing Popularity of Ready-to-eat Food Products Elevating Food Packaging Demand in India
According to Future Market Insights (FMI), India food packaging market is estimated to create an incremental opportunity of USD 26.1 billion by 2033. Increasing trend of consuming ready-to-eat food products is creating exponential demand for food packaging.
Similarly, increasing consumption of snacks, bakery, and confectionery products in India also impacts the market growth. India is one of the leading food producers with a large and growing market.
According to India Brand Equity Foundation (IBEF), the food and grocery retail market in India was valued at USD 11.3 trillion in 2021. The food market in India is anticipated to supplement the market growth during the forecast years.
Plastic Remains the Widely Used Material for Making Food Packaging
Based on material, plastic is expected to remain the preferred material for making food packaging by manufacturers. This is due to its lightweight, cost-effectiveness, and excellent barrier properties. Thanks to these advantages, end users are also showing an inclination towards using plastic food packaging.
Plastic packaging represents about 42% of the food packaging industry. In terms of value and volume, plastic packaging is expected to thrive at a CAGR of 5.1% during the assessment period. The segment has an enticing incremental opportunity of USD 90.7 billion.
Growing consumer demand for lightweight and convenient packaging that enhances shelf life of products is driving adoption of plastic packaging in food market. The sector is steadily introducing new products and technology, indicating that it is on pace to fulfill consumer demands.
Rising environmental concerns has led manufacturers to move towards increasing recyclability and companies are moving to the application of PCR plastic resulting in the growth of the segment.
Dairy Products Segment to Create Lucrative Opportunities for Food Packaging Companies
In terms of value, dairy products segment is expected to register a CAGR of 5.7% during the forecasted period. Currently, dairy products packaging segment is valued at USD 23 billion and is expected to show an incremental opportunity of USD 28 billion.
Changing food habits, rising consumption of healthy items such as dairy products, and increasing demand for high-barrier & convenient packaging from dairy sector are key factors driving growth of the target segment.
People are now more conscious about their health and are focusing on consuming much more balanced diets. This in turn is elevating demand for dairy products as well as dairy product packaging.
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Due to the presence of significant competitors such as Mondi Group, Amcor Plc, and DS Smith Plc, among others, the competitive battle in the food packaging industry is fierce. These businesses provide high-quality packaging solutions using sustainable and cutting-edge technology, customized finishing and decorative processes, and a variety of materials.
These key food packaging companies have gained a competitive advantage over others due to their capacity to constantly innovate their goods. Strategic alliances, research & development, mergers, and acquisitions have all helped the players increase their market footprint.
Recent developments:
| Attribute | Details |
|---|---|
| Estimated Market Value (2023) | USD 353.7 billion |
| Projected Market Value (2033) | USD 592.8 billion |
| Anticipated Growth Rate (2023 to 2033) | 5.3% CAGR |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million, Volume in Units and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Material, Packaging, Application, Region |
| Key Countries Covered | North America, Latin America, East Asia, South Asia & Pacific, Western Europe, Eastern Europe, Central Asia, Russia & Belarus, Balkan Countries & Baltic Countries, Middle East & Africa |
| Key Companies Profiled | Mondi Group; Berry Global Group; Tetra Laval International SA; Amcor plc; DS Smith plc; Stora Enso Oyj; Plastipak Packaging Inc.; Crown Holdings Inc.; Graham Packaging Company; Sealed Air Corporation; Westrock Company; Ball Corporation; International Paper Company; Constantia Flexibles Group GmbH; Smurfit Kappa plc; Ardagh Group SA.; UPM-Kymmene Corp; Reynolds Packaging |
The food packaging market size is valued at USD 353.7 billion in 2023.
The food packaging market is projected to thrive at a 5.3% CAGR through 2033.
The food packaging market is predicted to surpass USD 592.8 billion by 2033.
The top 5 countries hold a 25% to 35% collective value share.
India will create an incremental opportunity worth USD 26.1 billion in the food packaging market by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 5.1. Plastic 5.2. Paper 5.3. Metal 5.4. Glass 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Packaging Type 6.1. Flexible Food Packaging 6.1.1. Bags & Pouches 6.1.2. Films & Wraps 6.1.3. Labels 6.1.4. Stick Pack & Sachets 6.1.5. Others (Tubes, etc.) 6.2. Rigid Food Packaging 6.2.1. Bottles & Jars 6.2.2. Boxes & Cartons 6.2.3. Cans 6.2.4. Trays 6.2.5. Cups & Tubs 6.2.6. Clamshells 6.2.7. Others (Blisters, etc.) 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Ready-to-Eat Meals 7.2. Dairy Products 7.3. Bakery & Confectionery Products 7.4. Fresh Produce Products 7.5. Meat, Seafood and Poultry 7.6. Sauces, Dressings and Condiments 7.7. Other Food Products 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. East Asia 8.4. South Asia & Pacific 8.5. Western Europe 8.6. Eastern Europe 8.7. Central Asia 8.8. Russia & Belarus 8.9. Balkan & Baltic Countries 8.10. Middle East & Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 11. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 12. South Asia & Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033 13. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. Central Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. Russia & Belarus Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. Baltic & Baltic Countries Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. Middle East & Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 19. Country wise Market Analysis 20. Market Structure Analysis 21. Competition Analysis 21.1. Mondi Group 21.2. Berry Global Group 21.3. Tetra Laval International SA 21.4. Amcor plc 21.5. DS Smith plc 21.6. Stora Enso Oyj 21.7. Plastipak Packaging Inc. 21.8. Crown Holdings Inc. 21.9. Graham Packaging Company 21.10. Sealed Air Corporation 21.11. Westrock Company 21.12. Ball Corporation 21.13. International Paper Company 21.14. Constantia Flexibles Group GmbH 21.15. Smurfit Kappa plc 21.16. Ardagh Group SA. 21.17. UPM-Kymmene Corp 21.18. Reynolds Packaging 22. Assumptions and Acronyms Used 23. Research Methodology
Packaging
July 2023
REP-GB-1380
306 pages
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Food Packaging Market
