Food And Beverage Packaging Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 503.90 Billion |
| Market Size (2029) | USD 620.17 Billion |
| CAGR (2024 - 2029) | 4.24 % |
| Fastest Growing Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Food And Beverage Packaging Market Analysis
The Food And Beverage Packaging Market size is estimated at USD 503.90 billion in 2024, and is expected to reach USD 620.17 billion by 2029, growing at a CAGR of 4.24% during the forecast period (2024-2029).
- The primary purpose of food and beverage packaging is to keep a product safe during transportation, handling, and distribution. The packaging industry constantly makes innovative solutions to preserve product integrity as it is transported from the facility to the consumer. The food and beverage packaging includes primary packaging materials, such as paper and paperboard, plastic, glass, and metal. Packaging can be highly helpful when solving difficulties with food and beverage counterfeiting.
- Contamination of food products can happen anywhere throughout the supply chain. Keeping control of the supply chain as a food or beverage firm is crucial. Numerous packaging techniques and technologies have been developed to help raise standards for food safety. Even if utilizing materials that are food grade is required, packaging still presents some risks.
- According to labeling laws and Food and Drug Administration (FDA) regulations, food and beverage packaging must include specific information, such as the ingredient list, possible side effects of consumption or use, the batch ID, and date of manufacture; therefore, the product can be tracked down and discarded when it expires.
- The beverage industry has been at the forefront of significant expansion and technological modernization. Within this industry, packaging water stands out as a particularly intricate domain. As public awareness of the importance of pure drinking water rises, the industries focused on packaged and bottled water are witnessing swift growth.
- Bottled water is one of the most consumed beverages worldwide due to its convenience. The packaging of bottled water is also ideal for long-distance transportation. As reported by Krones Group, bottled water leads global packed beverage consumption, with a staggering 506 billion liters consumed, outpacing all other beverage types in 2023.
- Adversely, most food and beverage packaging is single-use, majorly thrown away instead of being recycled or reused. The US Environmental Protection Agency (EPA) estimates that about half of all municipal solid waste comprises food and materials used in food packaging. Food and beverage packaging problems start at the design phase. Each type of packaging requires numerous resources to make it, including energy, water, chemicals, petroleum, minerals, wood, and fibers. Its production frequently results in wastewater and sludge with harmful chemicals and air emissions of greenhouse gases, heavy metals, and particles.
- Since environmental concerns are now of utmost importance, there is an immense increase in consumer awareness about environmental sustainability. The participating businesses and brands are expected to take responsible actions relating to the environment, people, animals, or nature. Encouragingly, many food and beverage producers are motivated by sustainability to produce food that adheres to consumers' shifting environmental values. Modern customers have very high expectations for sustainability. Therefore, going green now refers to more than just using brown packaging (although this is still very popular), earth tones, and textured paper.
Food And Beverage Packaging Market Trends
Plastic Bottles for Beverages are Expected to Witness Growth
- Manufacturers widely favor lightweight and unbreakable materials like polyethylene, terephthalate, and polypropylene for plastic bottles. This preference is due to the ease of handling and the lower production costs associated with plastic packaging. Given the cost-effectiveness of plastic and the rising dependence on packaged and processed foods and various beverages, the market for plastic bottles and containers is poised for growth during the forecast period.
- Polyethylene terephthalate (PET) plastic dominates the production of bottles for carbonated soft drinks. Its popularity as a packaging material is attributed to its glass-like transparency, lightweight nature, flexibility, hard surface, and mechanical strength, which includes resistance to shattering even under challenging transport conditions.
- Coca-Cola Company, a leading player in the carbonated beverage sector, reported a consistent rise in its global revenue, reaching USD 45,754 million in 2023, a significant jump from USD 33,014 million in previous years. This revenue growth is poised to boost the demand for plastic bottles.
- As manufacturers become increasingly aware of environmental concerns, the recycling of plastic bottles and containers is gaining momentum. A report from the United Nations Environment Programme (UNEP) highlights that with concerted efforts, such as eliminating problematic plastics, boosting recycling could potentially cut plastic pollution by 20% by 2040. Thus, the emphasis on recycling plastic bottles and containers is set to bolster the market.
- Companies are increasingly innovating their product offerings. For example, in November 2023, Sidel introduced ultra-small and ultra-light PET bottles tailored for liquid dairy products. These mini bottles, with capacities ranging from 65 ml to 150 ml, are specifically crafted for items like drinking and probiotic yogurts and are optimized for cold chain processes. These bottles find applications in the juice, soft drink, isotonic, and tea sectors. This new format aims to support the liquid dairy product industry, which has seen a growing preference for PET packaging as a compelling alternative.
Asia-Pacific Holds a Significant Market Share
- The robust growth of the food and beverage sector in Asia-Pacific is the main driver of the packaging market expansion. Increased investment in the food processing sector is opening new packaging opportunities to reduce crop waste. China is one of the biggest contributors to the food and beverage packaging market in the Asia-Pacific. Expanding organized retail, increasing the purchasing power of the bourgeois population, and exports contribute to the market’s growth.
- Emerging nations, notably India and China, are witnessing a significant transformation in food packaging. As hypermarkets, supermarkets, and retail food chains expand, the demand for food packaging is on the rise. According to Agriculture and Agri-Food Canada, China's retail sales value of packaged food is projected to jump to USD 366.75 billion by 2025, up from USD 283.98 billion in 2020. This surge underscores the growth of the country's food packaging market.
- Notably, rising living standards, greater wealth, and fast-paced lifestyles in urban countries like China, Japan, Malaysia, India, Thailand, and Indonesia have all contributed to the growth of the online grocery delivery trend combined with packaged groceries. Changes in people's lifestyles, consumer food preferences, and population growth in developing countries are expected to drive market growth during the forecast period.
- In the Asia-Pacific region, many countries have banned single-use plastics and are switching to post-consumer eco-friendly packaging products instead, which could drive demand for innovative packaging. This would directly contribute to the rising demand for non-plastic packaging items like glass, paper, metal, and wood for food and beverage packaging in this region.
- In India, new product launches are increasingly emphasizing sustainable design and recyclability. In July 2023, PepsiCo India unveiled its initiative with Pepsi Black, marking the introduction of the country's first-ever 100% recycled PET plastic bottles in the carbonated beverages sector. However, it is noteworthy that the label and cap for the Pepsi Black bottle are not part of this recycling initiative.
Food And Beverage Packaging Industry Overview
The food and beverage packaging market is highly fragmented as it currently has many players. Several key players in the market are constantly making efforts to bring advancements. A few prominent companies are entering into collaborations and are also expanding their global footprints in developing regions to consolidate their positions in the market. The major market players include Mondi PLC, Amcor PLC, Berry Global Inc., DS Smith, and Tetra PaK International SA.
Food And Beverage Packaging Market Leaders
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Mondi plc
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Amcor Plc
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Berry Global Inc
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DS Smith
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Tetra PaK International S.A
*Disclaimer: Major Players sorted in no particular order
Food And Beverage Packaging Market News
- May 2024: Tetra Pak launched its 'Factory Sustainable Solutions,' a comprehensive approach targeting energy, water, and cleaning-in-place (CIP) optimization across factories. This initiative, part of Tetra Pak's extensive sustainability portfolio, provides food and beverage (F&B) producers with a customized mix of cutting-edge technologies and advanced plant integration capabilities. The primary goal is to assist food and beverage producers refine their energy and resource usage, a crucial move toward achieving sustainability goals and curbing operational expenses.
- March 2024: In the Croatian market for Filir, DS Smith transitioned from conventional plastic packaging to a fiber-based, recyclable solution for Easter snacks and chocolates. DS Smith highlighted that the new chocolate boxes boast easy assembly and a corrugated cardboard carry handle, enhancing their versatility and usability. Employing their Circular Design Metrics (CDM) approach, the design team evaluated and compared the circularity of the packaging designs based on eight distinct indicators.
- November 2023: Berry Global unveiled an upgraded version of its Omni Xtra polyethene cling film, tailored for fresh food applications. This new film is a high-performance substitute for conventional polyvinyl chloride (PVC) cling films. While the original Omni Xtra has been a trusted choice for packaging fruits, vegetables, meat, poultry, and deli and bakery items, the enhanced Omni Xtra+ boasts superior elasticity, consistent stretching behavior, and heightened impact resistance.
- January 2023: Amcor PLC, a company specializing in creating environmentally-friendly packaging solutions, introduced its new PrimeSealTM and DairySealTM Recycle-Ready Thermoforming Films for meat and dairy. These films offer superior packaging performance and increased packaging circularity. By generating a tight, wrinkle-free package, the new thermoformable films, which are exceptionally transparent and have a clear sheen, can help consumers understand the quality of products.
Food And Beverage Packaging Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness-Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Penetration of Processed Foods is Expected to Drive the Growth in Packaging
5.1.2 Rising Consumption of Shelf Stable Food and Beverages
5.2 Market Restraints
5.2.1 Pollution and Environmental Damages Created by Overabundance of Packaging
6. MARKET SEGMENTATION
6.1 Food Packaging Market Segmentation
6.1.1 By Material
6.1.1.1 Plastic
6.1.1.2 Paperboard
6.1.1.3 Metal
6.1.1.4 Glass
6.1.2 By Type of Product
6.1.2.1 Pouches and Bags
6.1.2.2 Bottles and Jars
6.1.2.3 Trays and Containers
6.1.2.4 Films and Wraps
6.1.2.5 Other Types of Products
6.1.3 By Application
6.1.3.1 Dairy Products
6.1.3.2 Meat, Poultry, and Seafood
6.1.3.3 Bakery and Confectionary
6.1.3.4 Fruits and Vegetables
6.1.3.5 Other Applications
6.2 Beverage Packaging Market Segmentation
6.2.1 By Material
6.2.1.1 Plastic
6.2.1.2 Paperboard
6.2.1.3 Metal
6.2.1.4 Glass
6.2.2 By Type of Product
6.2.2.1 Bottles
6.2.2.2 Cans
6.2.2.3 Pouches and Cartons
6.2.2.4 Caps and Closures
6.2.2.5 Other Types of Products
6.2.3 By Application
6.2.3.1 Carbonated Soft Drinks and Fruit Beverages
6.2.3.2 Beer
6.2.3.3 Wine and Distilled Spirits
6.2.3.4 Milk
6.2.3.5 Energy and Sports Drinks
6.2.3.6 Other Applications
6.3 By Geography
6.3.1 North America
6.3.1.1 United States
6.3.1.2 Canada
6.3.2 Europe
6.3.2.1 United Kingdom
6.3.2.2 Germany
6.3.2.3 France
6.3.3 Asia
6.3.3.1 China
6.3.3.2 Japan
6.3.3.3 India
6.3.3.4 Australia and New Zealand
6.3.4 Latin America
6.3.4.1 Brazil
6.3.4.2 Mexico
6.3.5 Middle East and Africa
6.3.5.1 United Arab Emirates
6.3.5.2 Saudi Arabia
6.3.5.3 South Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Mondi PLC
7.1.2 Amcor PLC
7.1.3 Berry Global Inc.
7.1.4 DS Smith
7.1.5 Tetra PaK International SA
7.1.6 SIG Combibloc Group
7.1.7 Sealed Air Corporation
7.1.8 Smurfit Kappa Group PLC
7.1.9 Crown Holdings Inc.
7.1.10 Sonoco Products Co.
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE TRENDS
Food And Beverage Packaging Industry Segmentation
Food and beverage packaging protects products from external resistance, tampering, breakage, and damage. Proper packaging of food and beverages can also preserve the product for longer use. Packaging is an important part of the food and beverage industry and helps maintain product hygiene.
The food and beverage packaging market is segmented for food packaging market by material (plastic, paperboard, metal, glass), type of product (pouches and bags, bottles and jars, trays and containers, films and wraps, other types of products), application (dairy products, meat, poultry, and seafood, bakery and confectionary, fruits and vegetables, other applications) and beverage packaging market by material (plastic, paperboard, metal, glass), type of product (bottles, cans, pouches and cartons, caps and closures, other types of products), application (carbonated soft drinks and fruit beverages, beer, wine and distilled spirits, bottled water, milk, energy and sports drinks, other applications) and by geography (North America [United States and Canada], Europe [United Kingdom, Germany, France and Rest of Europe], Asia-Pacific [China, Japan, India and Rest of Asia-Pacific], Latin America [Brazil, Mexico and Rest of Latin America], and Middle East and Africa [United Arab Emirates, Saudi Arabia, South Africa and Rest of Middle East and Africa]. The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
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Food And Beverage Packaging Market Research Faqs
How big is the Food And Beverage Packaging Market?
The Food And Beverage Packaging Market size is expected to reach USD 503.90 billion in 2024 and grow at a CAGR of 4.24% to reach USD 620.17 billion by 2029.
What is the current Food And Beverage Packaging Market size?
In 2024, the Food And Beverage Packaging Market size is expected to reach USD 503.90 billion.
Who are the key players in Food And Beverage Packaging Market?
Mondi plc, Amcor Plc, Berry Global Inc, DS Smith and Tetra PaK International S.A are the major companies operating in the Food And Beverage Packaging Market.
Which is the fastest growing region in Food And Beverage Packaging Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
What years does this Food And Beverage Packaging Market cover, and what was the market size in 2023?
In 2023, the Food And Beverage Packaging Market size was estimated at USD 482.53 billion. The report covers the Food And Beverage Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Food And Beverage Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Food And Beverage Packaging Industry Report
Statistics for the 2024 Food And Beverage Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Food And Beverage Packaging analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
