Food
packaging market is by far the largest application segment of
the packaging industry, accounting for more than one-third of the
global packaging market. From a global perspective, the food
packaging market is at a very interesting situation, where the market
has almost reached a plateau in terms of technology in the more
developed nations in North America and Europe, while the emerging
countries of Asia Pacific region are playing catch up to the
packaging technologies and food supply chain management. Different
types of food products require varied packaging types according to
their individual usage and perishability.
The sea change in
food habits and preference for processed food has propelled the food
packaging market in the past. The market for packaged food has
already reached a holistic level in North America and Western Europe,
while rapid lifestyle changes and economic growth, coupled with
rising population in Asia Pacific countries such as China and India,
has spiked the growth rate of food packaging in the region. The
growth rate in South America and the Middle East is also on the
higher side compared to the developed economies. The main reason for
increasing preference for processed food is the shifting population
dynamics towards urban centers from rural areas. This has resulted in
the advent of dual income urban families, who prefer processed food
due to time constraints. Packaged food has evolved from super markets
to neighborhood stores in countries such as China, India, Brazil and
Thailand among others. The market dynamics in North America and
Europe however, is governed by branding activities undertaken by food
processing companies.
Tremendous
opportunity exist in the food packaging market in emerging economies
as the food packaging technology is in its growth phase in this
region. Antimicrobial packaging technique is of particular interest
as it helps to improve the shelf life of perishable food products.
The market is however, slightly restrained by the declining growth in
North America and Europe.
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The food packaging
market can be segmented into application segments such as convenience
foods, confectionary items, dairy items, fruits and vegetables, meat
and sauces and dressings. The popularity of the different food
applications is different across the globe. For instance packaged
meat is making foray into Asia Pacific region while it is mainstream
in North America and Europe. Materials used to package food can also
be segmented into plastic, paper & board, metal and glass. They
may also be classified as rigid, semi-regid and flexible by type of
packaging material. The preferences for different packaging materials
also vary with regions due to the food habits specific to the
regions. Flexible packaging accounts for the largest share of food
packaging.
North America is the
largest food packaging market followed by Europe and Asia Pacific.
However the growth rate exhibited by these regions has subsided
considerably as the market is close to its peak. The growth parity is
however, restored by the high growth regions of Asia Pacific and
South America. China and India have exhibited exceptional growth
potential and is expected to overtake the market leading position
from North America in the near future.
Some of the Major
Players in the food packaging
market are American Packaging Corporation, Anchor Packaging, Crown
Holdings, Inc. and Bemis Company, Inc., among many others.
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