The global food packaging market reached a value of US$ 345.3 Billion in 2021. Food packaging is used to prevent the food products from spillage and tampering, protect the contents from moisture and toxins, and retain their shape and quality. It assists in preserving the taste or quality of food items during storage and transporting them to the desired location. Food packaging also acts as a modern branding tool and marketing medium for sellers. Moreover, it conveys essential information to consumers, such as the nutritional content, expiry date, price, and origin of the packaged products.
As per the analysis by IMARC Group, the top companies in the food packaging industry are focusing on food packaging solutions that extend the shelf life of the packaged products. They are also launching convenient packaging formats that are easy to carry, use and store in refrigerators, eliminating the additional hassle of transferring the contents into containers. In addition, due to the rising environmental concerns, the leading manufacturers are introducing eco-friendly and sustainable packaging options, such as thermoplastics and bio-based plastics, made using materials that can be easily recycled, reused, and renewed. Furthermore, the ongoing research and development (R&D) activities are developing anti-microbial food packaging and lightweight solutions to lower transportation costs and related emissions, which are offering lucrative opportunities to market players. Besides this, the introduction of novel packaging technologies, including active, intelligent, and bioactive packaging, that enables flexible packaging, prolongs the lifespan, improves quality, and maintains the freshness of food products has propelled the market growth. Looking forward, IMARC Group expects the market value to reach US$ 483.4 Billion by 2027, growing at a CAGR of 5.85% during 2022-2027.
Also, with advancements in technology, several companies are now introducing innovative packaging solutions. For instance, American Food Packaging is offering roll stocks, overwraps, premade bags and pouches, by using flexographic and rotogravure printing for virtually any food product application. Moreover, the leading firms are investing in research and development (R&D) operations for developing anti-microbial packaging materials to enhance the product shelf-life. Looking forward, IMARC Group expects the market to reach US$ 483.4 Billion by 2027, exhibiting at a CAGR of 5.85% during 2022-2027.
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List of Biggest Manufacturing Comapnies in Food Packaging Industry:
Headquarter: Zurich, Switzerland
Amcor PLC is a leading global packaging company engaged in manufacturing responsible packaging solutions. It is primarily focused on developing lightweight, reusable and recyclable packaging as well as on products made from recycled content. It provides a range of flexible and rigid packaging, specialty cartons, closures, and services. The company generates an annual sales revenue of around US$ 13 Billion, with more than 48,000 employees working at 250 locations in over 40 countries. Amcor offers packaging solutions for food and beverage, pharmaceutical, personal- and home care, medical, pet care and other products.
Crown Holdings Inc.
Headquarter: Pennsylvania, United States
Crown Holdings, Inc. is a global leader in the designing, manufacturing, and selling of packaging products and equipment for consumer and industrial products. The company offers innovative packaging solutions that provide significant value to brand owners, retailers, and consumers. It operates over 192 manufacturing plants, and sales and service facilities across 39 countries with approximately 33,000 employees. The consolidated net sales for the company in 2020 were $11.6 Billion. Its product portfolio includes steel and aluminum cans for food and beverages, household and other consumer products, glass bottles for beverages, metal vacuum closures, steel crowns sold through crown's sales organization, soft drink, food, citrus, brewing, household products, personal care and various other industries.
O-I Glass, Inc. (Owens-Illinois, Inc.)
Headquarters: Ohio, United States
O-I Glass, Inc., formerly known as Owens-Illinois Inc., is one of the leading producers of glass bottles and jars for food and beverage manufacturers. It offers glass containers in various sizes, shapes, and colors and primarily sells its products in America, Europe, and Asia Pacific. The company currently operates around 72 plants in 20 countries with over 26,500 employees and recorded a revenue of $6.1 billion in 2020. Additionally, it produces glass containers for alcoholic beverages, such as beer, spirits and wine. Apart from this, the company is also engaged in manufacturing glass packaging for food items, including soft drinks, teas, and juices.
Tetra Pak Group
Headquarter: Pully/ Lausanne, Switzerland
Tetra Pak is a global leader in food processing and packaging solutions. The company offers packaging equipment and containers for liquid food products and a range of processing and packaging technologies for use with a broad array of products, such as ice cream, cheese, dry foods, fruit, vegetables, and pet food. It also provides a wide range of carton packaging solutions for refrigerated, non-refrigerated, particulate foods, processing and distribution equipment, automation, environmental, improvement, installation, maintenance, and training programs.
American Packaging Corporation
Headquarters: Wisconsin, United States
American Packaging Corporation (APC) is a family-owned business that offers packaging services to its clients. The company specializes in flexographic and rotogravure printing, multi-ply extrusion, adhesive lamination of film, paper, and foil, and pouch and bag fabrication. It is a renowned leader in the North American packaging industry, which provides printing and lamination services. Besides this, APC serves various markets, including labeling, medical, personal care, household, pet food, agricultural, chemical, lawn and garden, and food and beverage.
Headquarters: Colorado, United States
Ball Corporation is a leading global supplier of innovative and sustainable containers and packaging solutions for beverage, personal care, and household products customers and aerospace, other technologies, and services to commercial and governmental customers. In 2020, the company reported net sales of $11.8 Billion, with more than 21,500 employees in over 100 locations across the globe. Its main business segments include Beverage Packaging, North and Central America; Beverage Packaging, Europe; Beverage Packaging South America; Food and Aerosol Packaging Aerospace; and others.
About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects in the food packaging industry, which has enabled clients to set up and expand their businesses successfully. Some of the company’s offerings include:
- Market Research
- Plant setup
- Plant Expansion
- Marketing and sales
- Procurement and Distribution
- Innovation and Product Development