Food Packaging Market to Reach $698.4 Billion by 2031 - Exclusive Report by Meticulous Research®

REDDING, Calif., March 19, 2025 /PRNewswire/ -- According to a new market research report titled 'Food Packaging Market Size, Share, Forecast, & Trends Analysis by Material (Plastic, Metal, Glass), Packaging Type (Rigid, Flexible), Product Type, Application (Bakery Products, Dairy Products, Snacks, Meat Products, RTE Meals) - Global Forecast to 2031',' published by Meticulous Research^®, the food packaging market is projected to reach $698.4 billion by 2031, at a CAGR of 5.9% from 2024 to 2031.

The growth of the global food packaging market is driven by the increasing demand for convenience foods, the rising need for portable and efficient packaging solutions, the preference for extended shelf-life products, and the expansion of the retail sector. However, challenges such as the vulnerability of packaging materials to degradation and fluctuations in raw material prices may restrain market growth to some extent.

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Furthermore, the increasing focus on eco-friendly packaging, recyclability, and advancements in packaging technology is expected to create growth opportunities for market stakeholders. However, stringent regulatory requirements remain a significant challenge for industry players.

The food packaging market is segmented by material (plastic, paper, metal, glass, and others), packaging type (flexible, rigid, and semi-rigid), product type (bags, bottles, films, boxes, trays, cans, sachets, and others), application (bakery, confectionery, dairy, snacks, beverages, meat & seafood, pet food, baby food, ready-to-eat meals, and others), end user (food manufacturers, food service providers, packaging service providers, and others), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).

The report includes an extensive assessment of the key strategic developments by leading market participants in the industry over the past four years (2021–2024). The food packaging market has witnessed several partnerships, agreements, collaborations, mergers, and acquisitions in recent years. The key players operating in the food packaging market are Amcor plc (Australia), Smurfit Westrock plc (Ireland), Mondi plc (U.K.), Berry Global Group, Inc. (U.S.), Sealed Air Corporation (U.S.), Ball Corporation (U.S.), Tetra Pak International SA (Switzerland), Schur International Holding A/S (Denmark), Anchor Packaging LLC (U.S.), Crown Holdings, Inc. (U.S.), International Paper Company (U.S.), Graham Packaging Company Inc. (U.S.), Borealis AG (Austria), and B.C. Jindal Group (India) among others.          

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Key Findings in the Global Food Packaging Market Study:

Based on the material types, the plastic segment is expected to record the highest growth rate of 6.6% (2024–2031), driven by the rising demand for biodegradable plastic food packaging.

Based on packaging, the flexible packaging segment is projected to grow at a 6.5% CAGR, fueled by increasing demand for sustainable packaging solutions and food products with extended shelf life.

The films & wraps segment is anticipated to expand at the fastest rate of 7.1% among all product categories, attributed to the growing popularity of convenience foods, the expansion of e-commerce, the rising food service industry, and consumer preference for single-serving packages.

Among applications, the snacks segment is expected to achieve the highest CAGR of 6.2%, supported by rising snack consumption, increasing health awareness, and a growing variety of snack options in the market.

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Among end users, food service providers are forecasted to experience the fastest growth at 7.1%, driven by the expansion of food service outlets, increasing demand for ready-to-eat meals and fast food, and the growth of e-commerce.

Geographically, the global food packaging market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific region is poised to register the highest CAGR of 6.5%, primarily due to rapid urbanization, growing health consciousness, and rising disposable incomes.

The leading companies operating in the global food packaging market are Amcor plc, Smurfit Westrock plc, Mondi plc, Berry Global Group, Inc., Sealed Air Corporation, Ball Corporation, Tetra Pak International SA, Schur International Holding A/S, Anchor Packaging LLC, Crown Holdings, Inc., International Paper Company, Graham Packaging Company Inc., Borealis AG, and B.C. Jindal Group among many other regional and local players. The competitive landscape of the global food packaging market is defined by innovation, sustainability, and strategic expansion. Leading players focus on developing eco-friendly and efficient packaging solutions to meet evolving consumer demands and regulatory requirements. With increasing investments in technology and sustainability initiatives, the market is expected to witness continuous growth and transformation, driven by rising demand for convenience, extended shelf-life products, and sustainable packaging alternatives.

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Scope of the Report:

Food Packaging Market Assessment—by Material

• Plastics
  • Non-Biodegradable Plastic Packaging
    • Low Density Polyethylene (LDPE) Packaging
    • High Density Polyethylene (HDPE) Packaging
    • Polyethylene Terephthalate (PET) Packaging
    • Polyvinyl Chloride (PVC) Packaging
    • Polystyrene (PS) Packaging
    • Polypropylene (PP) Packaging
    • Other Non-biodegradable Plastic Packaging
  • Biodegradable Plastic Packaging
    • Starch-based Plastic Packaging
    • Polylactic Acid (PLA) Packaging
    • Cellulose-based Plastic Packaging
    • Poly-3-Hydroxybutyrate (PHB) Packaging
    • Polyhydroxyalkanoates (PHA) Packaging
    • Other Biodegradable Plastic Packaging
• Paper & Paper-based Packaging
• Metal Packaging
• Glass Packaging
• Other Packaging Materials

Food Packaging Market Assessment—by Packaging Type

• Flexible
• Rigid
• Semi-rigid

Food Packaging Market Assessment—by Product Type

• Bags & Pouches
• Bottles & Jars
• Films & Wraps
• Boxes & Cartons
• Trays
• Cans
• Stick Packs & Sachets
• Other Product Types

Food Packaging Market Assessment—by Application

• Beverages
• Bakery Products
• Dairy Products
• Confectionery Products
• Snacks
• Meat, Poultry and Seafood Products
• Ready-to-Eat Meals
• Pet Food
• Baby Food
• Other Applications

Food Packaging Market Assessment—by End User

• Food Manufacturers
• Food Service Providers
• Packaging Service Providers
• Other End Users

Food Packaging Market Assessment—by Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East and Africa
  • United Arab Emirates
  • Saudi Arabia
  • South Africa
  • Rest of Middle East and Africa

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