Food Packaging Market Grows at 5.7 % CAGR by 2031 Driven by the Increasing Demand for Edible Packaging

WESTFORD, MASSACHUSETTS, UNITED STATES, July 12, 2024 /EINPresswire.com/ -- Food Packaging Market size was valued at USD 361.4 Billion in 2022 and is expected to grow from USD 382 Billion in 2023 to reach USD 595.2 Billion by 2031, at a CAGR of 5.7% during the forecast period (2024-2031).

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Food packing refers to the procedure of enclosing food in order to safeguard it from contamination, pollution, decay, and insect attacks during its transportation, storage, and sale in retail. Commonly, packaging often includes details like the amount of material, nutritional value, cooking instructions, durability, and other relevant information. The food packaging process employs a diverse range of flexible materials, including foil, plastic, paper, and clothing, to produce pouches, bags, bottles, cans, cartons, and trays. Some of the packaged goods available include dairy products, convenience foods, confectionary, bakery items, vegetables, fruits, meat, and condiments. The high demand for the food packaging market is primarily driven by ready-to-eat meals, user-friendly packaging solutions. Technological progress, including smart packaging and sustainable alternatives, is a major factor contributing to the growth. This is in addition to the growing awareness of food safety and hygiene, especially after the pandemic.

Emergence of Packaging Innovation in the Food Industry to Maintain Safety and Quality

The increasing advancements in packaging present a promising possibility for market expansion. To maintain the quality and safety of the product food companies must focus on packaging. A good quality packaging also helps in extending the shelf-life of the food items. In recent times, the popularity of plastic cling films has increased in the food packaging market because it is easiest way of preserving food and also improve shelf-life. The market is being influenced by the increasing adoption of environmentally friendly packaging and the development of new technologies in cling film packaging. This invention encompasses a wide variety of packaging choices, including intelligent packaging, active packaging, nanocomposites, edible/biodegradable packaging, and various packaging designs.

The following are the key Food Packaging Trends that will shape the growth of the market in the next 5 years

Market Growth to be Supported by the Increasing Demand for Convenience Food

Convenience food is mostly utilized for its convenient accessibility, extended shelf life, and pre-prepared nature. These products consist of a variety of things, such as snacks, frozen food, finger food, candies, and beverages. Typically, these items necessitate minimal preparation and are provided in ready-to-eat containers. The increasing need for easily consumable snacks as a result of a predominantly inactive lifestyle is projected to drive the need for convenient food, thereby stimulating growth in the global market. Moreover, the food packaging market expansion is fuelled by the growing per capita disposable income and the expanding working population.

Increased Consumer Demand for Edible Packaging Driving Market Expansion

The increasing apprehension regarding packaging waste and its ecological consequences is driving the need for edible packaging. In the last few years, conventional food packaging materials have generated a significant amount of packaging waste and contributed to the growth of landfills. The plastic materials have had a persistently poor recycling rate. The Organization for Economic Co-operation and Development (OECD) reports that plastic pollution is increasing continuously due to inadequate waste management and recycling efforts. These issues emphasize the necessity of edible packaging and its impact on the industry's expansion. Edible packaging is predominantly dependent on renewable and biodegradable materials, offering consumers a sustainable alternative to traditional plastic food packaging. Milk protein is utilized to produce casein-based films that envelop food goods, resulting in a novel type of edible packaging. The casein films help in preserving food items for a longer time by reducing exposure to oxygen. These films also improve storage, extends shelf-life, improve safety, and reduce waste.

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Smart Packaging to Fuel Market Growth in the Next 10 Years

Smart packaging improves the packaging process by efficiently packing food items and reducing the amount of storage. These packages also monitor the environmental condition in which the food items are stored. The food packaging companies are also using various additives like antioxidants, antimicrobials, moisture absorbers, VAP, and MAP to improve the packing. These processes slow down the ripening of food and extend the shelf life with the help of microorganisms. Today most of the manufacturers use smart and active packaging processes to reduce food waste and increase their profits. Smart packaging can also create a connection with customers with data-encrypted barcodes, QR codes, and RFIDs, increasing its demand.

Latest Headline in the Food Packaging Market

Cascades announced in January 2023 that they would introduce eco-friendly packaging for fresh fruits and veggies. To serve the produce sector, the organization manufactured a reusable and recyclable corrugated cardboard closed basket.
In April 2022, Mondi announced the launch of innovative packaging solutions designed exclusively for the food industry at the Anuga FoodTec event in Cologne, Germany.
In January 2023, Cascades, a multinational corporation specializing in the manufacturing of recycled goods, introduced a new environmentally friendly packaging. It is specifically designed for the transportation of fresh fruits and vegetables. The company created a separate, enclosed container specifically designed for the fresh produce industry, constructed entirely from reused and reusable corrugated cardboard.

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Maintaining Food Safety with More Knowledge about Smart Packaging

Food packaging has significant potential for success in the competitive market. As consumption increases, there is potential to utilize biodegradable and recyclable materials in innovative ways. Gaining knowledge about packaging solutions such as smart packaging, which actively safeguards the freshness of food, contributes to enhancing food safety. The rapidly expanding global e-commerce industry and the increasing need for direct-to-consumer food delivery necessitate enhanced packaging and protective measures. Global expansion presents development prospects as rising countries see shifts in disposable income and consumption patterns.

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