Food Packaging Industry Market Research Reports, Industry Analysis and Trends
Food packaging is the packaging of edible food items. Companies that are into packaging of food products are seeing an enormous growth potential in the market. Food packaging industry has matured over the years with innovation and with the help of technology. Bakery, Dairy and Meat sectors account for largest share in the global market for packaged foods, and rightly so as the demand is increasing for larger supply yearly.
The global food packaging market is evolving with changing landscape of market. Consumers demand for more environment friendly packaging solutions as the waste and leftovers leave a harsh impact to the nature and preventions and measures are being incorporated with packaging. Food packing companies are enabling more sophisticated approach to packaging with their innovative campaigns that promote safe usage, ingredients and materials used, the duration the product will be consumable for, and various other factors relating to food are implemented. Packaging evolves as the demand for the product increases. Limiting or not introducing unique features and designs in packaging will only restrict the sales and revenue eventually, so food packaging is essentially dependent on technology and its innovation in penetrating to the newer regions and markets.
Food Packaging Industry Current Trends
Packing of foods adapt to changing demand of suppliers and consumers. Although the objective is to achieve light weight, cost effective and protective packaging; more important focus is laid on complexity of consumption needs in different needs and packaging and positioning of variety products that are span across different categories. As the consumer demand evolves, dynamics between different packaging evolves as well, for example- the high demand products’ packaging is prioritized more in developing better packaging solutions and for low demands of product packaging to evolve at much slower pace.
According to Visiongain, the global food packaging market is estimated to reach a total value of US $251.8 billion by the end of 2013, whereas according to Canadean, the retail value of the global packaged food market is expected to reach $2.5 trillion by 2017. Asian market which is growing at an alarming rate in population and demand is projected to overtake European and North American markets.
The Nanotechnology is expected to become one of the most powerful forces for innovation in the food packaging industry; innovations such as bio-based nanocomposite technology, which holds the key to the future advances in flexible packaging. A comprehensive review of applications of biobased nanocomposite in food packaging industry should be necessarily promoted as nanotechnology is changing rapidly and the food packaging industry is facing new challenges. Packaging innovations are related to the key drivers of the demand of consumers, such as cost saving, weight reduced, sustainable, tamper proofed and logistical efficiency included packaging solutions are what gaining more mileage in the market.
Food Packaging Industry Players
Major companies that are operating in food packaging industry are, Tri Star Packaging, Sainsbury, Innovia, Remia, Shako and Tyson Foods Inc.