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The food packaging and processing global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Food Packaging And Processing Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The food packaging and processing market size has grown strongly in recent years. It will grow from $75.52 billion in 2023 to $80.04 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to increasing awareness of environmental issues, growing focus on health and wellness, increasing consumer awareness and education, increasing demand for transparency in ingredient sourcing, and increasing demand for portion control.
The food packaging and processing market size is expected to see strong growth in the next few years. It will grow to $101.44 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to the growth of e-commerce, globalization and trade, development of new packaging materials, growth of the plant-based food sector, and growth in ready-to-drink (RTD) beverages. Major trends in the forecast period include advanced processing techniques, integration of smart systems, high-pressure processing (HPP), enhanced food safety technologies, and intelligent labeling.
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Scope Of Food Packaging And Processing Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Food Packaging And Processing Market Overview
Market Drivers –
The increasing demand for convenience food is expected to propel the growth of the food packaging and processing market going forward. Convenience food refers to food products that are designed to be quick and easy to prepare or consume. The increasing demand for convenience food is due to busy lifestyles, the desire for quick meal solutions, and the need for efficient food preparation in a fast-paced world. Food packaging and processing help convenience food by extending shelf life, preserving freshness, and simplifying preparation, making it quick and easy for consumers to enjoy ready-to-eat meals. For instance, in March 2024, the Bank of Ayudhya Public Company Limited, a Thailand-based commercial banking company, reported that the domestic market for Thai-made ready-to-eat food is expected to grow by 3.0-4.0% annually from 2024 to 2026. Additionally, in 2022, the ready-to-eat food industry had a total domestic and export sales volume of 482.4 thousand tons, with a value of USD 2.0 billion. Therefore, the increasing demand for convenience food is driving the growth of the food packaging and processing market.
Market Trends –
Major companies operating in the food packaging and processing market are focusing on developing advanced solutions, such as water-based and plant-sourced coating, to enhance sustainability and reduce environmental impact. A water-based and plant-sourced coating refers to a sustainable coating made from natural plant materials and dissolved in water, avoiding petroleum-based solvents. For instance, in December 2023, Melodea Ltd., a US-based provider of sustainable barrier coatings, launched MelOx NGen, a high-performance barrier product designed to allow the recyclability of plastic food packaging and more. This innovative solution features a water-based, plant-sourced coating that improves the recyclability of plastic food packaging and also maintains food freshness, and extends shelf life. It presents a cost-effective and sustainable alternative to petroleum-based materials such as Ethyl Vinyl Alcohol copolymers (EVOH) and metalized polyethylene terephthalate (met-PET). Suitable for various types of plastics, including nanostructure plastics, MelOx NGen offers exceptional performance while remaining recyclable.
The food packaging and processing market covered in this report is segmented –
1) By Type: Rigid, Semi-Rigid, Flexible
2) By Equipment Type: Filling, Bottling, Case Cartooning, Labeling, Palletizing
3) By Material: Paper And Paper-Based Material, Plastics, Metal, Glass, Other Materials
4) By Application: Bakery And Confectionery Products, Meat And Poultry Products, Dairy Products, Beverages, Other Applications
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Regional Insights –
Asia-Pacific was the largest region in the food packaging and processing market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the food packaging and processing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the food packaging and processing market are WestRock Company, Ball Corporation, Amcor Public Limited Company, Berry Global Inc., Tetra Pak Ltd., Mondi Group, DS Smith plc, Graphic Packaging Holding Company, Sonoco Products Company, Silgan Holdings Inc., Sealed Air Corporation, Huhtamäki Oyj, Pentair Commercial Ice LLC, Reynolds Consumer Products Inc., Bühler Group, ProAmpac LLC, Marel Inc., John Bean Technologies Corporation, Winpak Ltd., Emmerson Packaging Ltd., PakTech LLC, Pacmoore Product Inc., Chantler Packages Limited, CuBE Packaging Solutions Inc.
Table of Contents
- Executive Summary
- Food Packaging And Processing Market Report Structure
- Food Packaging And Processing Market Trends And Strategies
- Food Packaging And Processing Market – Macro Economic Scenario
- Food Packaging And Processing Market Size And Growth
…..
- Food Packaging And Processing Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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