Food packaging plays a vital role in preserving and transporting a food item to its desired location without hampering its taste or quality. It helps to prevent food products from bacteria, spillage, moisture and toxins. Food packaging is also used for information transmission such as the food products nutrition content, expiry date, price and origin. It also acts as a modern marketing medium for the sellers to attract a large number of consumers. According to the latest report by IMARC Group, titled “Food Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global food packaging market reached a value of US$ 289.5 Billion in 2018.
A rapid change in the food preferences of the consumers coupled with expanding food retail sector worldwide is one of the major factors catalysing the growth of the global food packaging market. In addition, surging working population, rising disposable incomes and hectic lifestyles have led to the trend of a rising consumption of fast food and ready-to-eat products. This has further widened the growth prospects of the global food packaging market. Some of the other factors that have been proactive in maintaining the demand for food packaging are population growth, eco-friendly food packaging and a strong demand from emerging markets. Looking forward, the market value is projected to reach US$ 372.8 Billion by 2024, expanding at a CAGR of 4.3% during 2019-2024.
This report provides a deep insight into the global food packaging market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the food packaging industry in any manner.
Key Questions Answered in This Report:
REACH OUT TO US
Call us on
( US: +1-631-791-1145 )
( UK: +44-702-409-7331 )
( India: +91-120-433-0800 )
Drop us an email at