Food Packaging Market Analysis by Distributors, Industry Size

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The global food and beverage packaging market size is expected to grow exponentially reaching USD 627.27 billion in 2027 while posting a CAGR of 4.9% between 2020 and 2027. This growth is attributable to the increasing focus on on providing efficient transportation services and increasing adoption of advanced solutions in the manufacturing of food and beverage packaging materials globally. Fortune Business Insights in its latest report titled “Food and Beverage Packaging Market Size, Share and Industry Analysis, by Material (Food Packaging Materials) [Glass, Metal, Paper & Paperboard, Wood, and Plastics {Polypropylene, Polyethylene, PET}] and beverage packaging materials [Plastic, Glass Metal]), by type (food packaging [Rigid, Semi-Rigid, and Flexible] and beverage packaging [Can, Bottle & Jars, Pouch, Carton]), By Regional Application and Forecast, 2020-2027. », Observes that the market amounted to 433.27 billion USD in 2019.

Strong demand for packaged food products amid COVID-19 to propel market growth

The lockdown has resulted in a significant reduction in sales revenues for several industries due to the shutdown of industrial operations and people confined to their domestic spaces. Fear of contracting the disease, however, led to a wave of packaged food products that were considered to be safely protected by effective packaging provided by companies. This should bode well for market growth amid the novel coronavirus during the forecast period.

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There are several cases in which the food spoils due to external forces in the middle of faulty packaging. Therefore, to ensure the safety and shelf life of food products, it is essential to have effective packaging solutions for food and beverages.

What does the report provide?

The Global Food and Beverage Packaging Market report provides qualitative and quantitative analysis of several factors such as key drivers and restraints that will impact the growth. Further, the report provides information on regional analysis which covers different regions, contributing to the growth of the market. It understands the competitive landscape that involves leading companies and the adoption of strategies by them to announce partnerships, introduce new products and collaborate to further contribute to market growth. Additionally, the research analyst has adopted several research methodologies such as Porter’s Five Forces Analysis to extract insights into current trends and industry developments that will drive the market growth between 2020 and 2027.

DRIVING FACTORS

Increased focus on efficient transport to promote growth

The large losses suffered by companies due to faulty packaging and transport services are pushing manufacturers to adopt innovative packaging solutions such as Bag-in-Box (BIB), folding boxes, PTZ packaging (boxes ready to send) and others. Safe and reliable delivery of food products to ensure customer satisfaction is pushing manufacturers to adopt secure transportation services to ensure efficient packaging of food and beverage products. In addition, the increasing adoption of advanced solutions in the manufacturing of packaging materials is expected to drive the adoption of sustainable packaging materials that can be reused to reduce adverse effects on the environment. These factors are expected to contribute to the growth of the global food and beverage packaging market during the forecast period.

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SEGMENTATION

The food and packaging segment will hold the highest market share

On the basis of applications, the food and packaging segment is expected to hold the highest market share in terms of revenue, supported by the growing demand for bakery and confectionery products which presents lucrative opportunities for consumers. players in developing innovative food and packaging solutions on a global scale.

REGIONAL OVERVIEW

Asia-Pacific will remain in the foreground; Increase disposable income to increase demand

Among all the regions, the Asia-Pacific market is expected to experience significant growth by occupying the highest position in the global food and beverage packaging market in the coming years. This growth is attributable to the availability of high disposable income among the working population, which is expected to drive demand for innovative food and beverage packaging solutions in the region between 2020 and 2027. Asia-Pacific was rising. to 147.08 billion USD in 2019.

The North American market is expected to experience exponential growth during the forecast period. This is due to factors such as the increased awareness of consuming healthy packaged foods in the region.

COMPETITIVE LANDSCAPE

The partnership between the key players to amplify their positions on the market

The global food and beverage packaging market is consolidated by key players who are striving to maintain a strong position by partnering with other players to strengthen their positions. Other large companies are striving to gain a competitive advantage over their competitors by adopting organic and inorganic strategies that will drive the global market for years to come.

Industry development:

September 2020: Berry Global announced its partnership with Bhoomi to launch a 100% HDPE bottle made from sugar cane. Berry’s 12-ounce HDPE bottle offers environmental benefits and will replace Bonomi’s standard PET bottle.

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List of Companies Featured in Global Food and Beverage Packaging Market:

Mondi Group (United Kingdom)
Amcor SA (Switzerland)
Berry Global, Inc. (US)
Stora Enso (Finland)
Sonoco Product Company (United States)
Constantia Flexibles (Austria)
Plastipak Holdings, Inc. (United States)
Tetra Pak (Switzerland)
DS Smith (United Kingdom)
Exxon Mobil Corporation (United States)
Crown Holdings, Inc. (US)
Ball Corporation (United States)
Other key players

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