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(ARABNEWSWIRE.COM, February 12, 2018 ) The Global Food Packaging Market was worth USD 271.14 billion in 2016 and estimated to be growing at a CAGR of 4.00%, to reach USD 329.88 billion by 2021. The gaining importance of this market can be attributed to increased demand for processed and packaged food and visual appeal of packaged food and convenience for use.
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The food industry is largest industry globally and plays a vital role in the economy of a country. Food products have to be packaged in a robust manner to avoid spoilage due to micro-organisms. Food packaging ensures the extension of shelf life of the products within highly sterile environments that restricts the growth of the microorganisms that are responsible for the decay and spoilage of food products.
The main drivers for the progress of this market are increase in demand for processed and packaged food to adapt to the rapid changing lifestyle in developing countries and developed countries and shifting population dynamics to urban areas, increasing consumer awareness regarding the current environmental concerns and gradual alteration of buying habits. However the environmental concerns regarding the poor bio-degradability of plastics can hinder the growth of this market. Additionally, technological improvements in the synthesis of these packaging materials improves the growing potential of this market
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The Global market for Food Packaging is broadly categorized into Material, Type and Application. Based on Material – Paper and Board, Metal, Rigid Plastic, Flexible Plastic, Glass and Others. Based on Type – Rigid, Semi-rigid and Flexible. Based on Application – Bakery, Confectionary, Convenience Foods, Dairy Products, Fruits and Vegetables, Sauces, dressing and condiments and Others. Based on geographical analysis the market is categorized into regions of North America, Asia Pacific, Europe, Latin America and Middle East and Africa. Asia Pacific is leading this market with highest share and Europe is second. Asia Pacific is also the fastest growing region due to its growing urban population and rapid lifestyle changes in developing countries.
Some of the key players dominating the market include Amcor Ltd., Rock-Tenn Company, Crow Holdings, Owens-Illinois, Rexam, Tetra Pak, Anchor Packaging, CKS Packaging, McCain Foods, Kellogg’s, Cargill Inc.
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Food Packaging Market Segmentation:
Paper and Board
Y-o-Y Growth Analysis, By Material
Market Attractiveness Analysis, By Material
Market Share Analysis, By Material
Y-o-Y Growth Analysis, By Type
Market Attractiveness Analysis, By Type
Market Share Analysis, By Type
Fruits and Vegetables
Sauces, dressings and condiments
Y-o-Y Growth Analysis, By Application
Market Attractiveness Analysis, By Application
Market Share Analysis, By Application
Scope of the report
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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