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Packaging Market: Growth of food delivery and takeaway market to drive growth.
There is a significant rise in online food ordering, owing to an increase in online platforms. Many people prefer to order food through mobile applications and online portals. It is also more convenient and cheaper because of better deals/discounts. There has also been a rise in the number of dark kitchens globally. This model has contributed to the growth of the global food delivery and takeaway market. Food packaging products, such as containers, cups, bowls, and trays, are widely used for the packaging of delivered food. Therefore, with the growth of the global food delivery and takeaway market, the simultaneous growth of the global packaging market is anticipated.
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As per Technavio, the rise in the need for innovative packaging will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.
Packaging Market: Rise in need for innovative packaging
The rising awareness regarding the importance of packaging to attract consumer attention is leading to the introduction of innovative packaging. There is a rise in the demand for multi-packs and single-serve and miniaturized packaging for various products. Single-serve packaging provides consumers a better understanding of the food and the quantity they are consuming. Miniaturized packages are small enough to fit into a pocket, backpack, or purse. Eco-friendly packaging is widely used for the packaging of meat, poultry, and seafood products. The advancements in packaging technologies and a rise in the demand for products sold in innovative packaging are expected to boost market growth during the forecast period.
"The rapidly expanding end-user industries such as e-commerce, fast-moving consumer goods (FMCG), and personal care will further boost market growth during the forecast period," says a senior analyst at Technavio.
Packaging Market: major Vendors
- Amcor Plc
- Ball Corp.
- Berry Global Group Inc.
- CCL Industries Inc.
- DS Smith Plc
Packaging Market: Segmentation Analysis
This market research report segments the packaging market by end-user (Food, Beverage, Healthcare, Personal care, and Others), type (Board, Rigid plastic, Flexible, Metal, and Glass), and geography (APAC, North America, Europe, MEA, and South America).
The APAC region led the packaging market in 2021, followed by North America, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the increase in demand for digitally printed packaging.
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Related Reports on Materials Include:
Global Pouches Market- The pouches market is segmented by type (flat pouches, stand-up pouches, spout pouches, and others), geography (APAC, Europe, MEA, North America, and South America), and key vendors.
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Global Glass Packaging Market- The glass packaging market is segmented by application (food and beverage packaging, personal care packaging, pharmaceutical packaging, and others), geography (APAC, Europe, MEA, North America, and South America), and key vendors.
To get extensive research insights: Download FREE Sample Report
Some of the key topics covered in the report include:
Market Challenges
Market Drivers
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
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Report Page: https://www.technavio.com/report/packaging-market-market-industry-analysis
SOURCE Technavio
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