The ways in which consumers purchase, procure, and consume food have changed to a great extent. Today’s health-conscious consumers exhibit a strong desire toward buying fresh food items. At the same time, environmental concerns and busier lifestyles are impacting the need for food packaging solutions that ensure longer shelf-life, while maintaining the optimum freshness of food products. In this context, the demand for advanced, eco-friendly, and reliable food packaging solutions has been consistently rising around the world. As a result, leaders in the food and beverages industry are pursuing high-end innovation in food packaging to aptly meet consumer demand and positively respond to changing consumer perceptions. During the forecast period, the rising number of packaging innovations is poised to present lucrative business expansion opportunities to the food packaging market.

 

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Sustainable Innovation Opens New Windows of Opportunity for Business Growth

 

The use of plastic packaging offers versatile options for creating unique product solutions. However, the market is strongly being influenced by the trend toward eco-friendly packaging and cutting-edge advancements in plastic cling film technology. This innovation presents a wide range of packaging possibilities, such as edible or biodegradable packaging, active packaging, nanocomposites, and intelligent packaging, as well as numerous packaging design options. These packaging choices are projected to provide support for improved market accessibility, better inventory management, and the assurance of the safety and quality of food products. Consequently, the food packaging market will experience robust growth due to innovations inspired by sustainability, and 3R technologies.

 

Need for Packaged Foods with Longer Shelf-life Surges Demand for Food Packaging

 

Packaged food may not be as fresh and flavorful as it would be if it were consumed immediately after packaging. Food spoilage during transportation is a pressing concern for the food processing industry as it translates into loss of investments in packaging. To address this issue, the food and beverages industry is investing in innovative packaging methods and technologies, such as intelligent packaging and engineering science. These innovations are capable of extending the shelf life of products. Consumers' growing awareness of the importance of consuming fresh food has resulted in a preference for packaged goods with a longer shelf life. With companies prioritising customer satisfaction over profits, the demand for aesthetic, intelligent, and superior packaging is on the rise. This trend is poised to unlock lucrative business opportunities in the food packaging market.

 

Asia Pacific Draws Greater Demand for Superior Food Packaging, Rising as Market Leader

 

Asia Pacific is expected to hold the most significant revenue share in the global food packaging market. This optimistic market outlook can be attributed to Asia Pacific’s robust food production, rising urban population, increasing exports of fruits and vegetables, and growing popularity of online food ordering. Moreover, as governments encourage businesses to infuse sustainability into their manufacturing processes, the demand for eco-friendly packaging is predicted to surge across Asia Pacific’s food packaging market. Meanwhile, North America’s food packaging market will experience steady revenue generation owing to a shift in consumer eating habits and the soaring demand for packaged foods.

 

Leading Market Players

 

Some of the major players in the global food packaging market are Crown Holdings, Inc. (U.S.), Sealed Air Corp. (U.S.), Rock-Tenn Company (U.S.), Amcor Ltd. (Australia), Nuconic Packaging LLC (U.S.), and Tetra Pak International S.A. (Switzerland).

 

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