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The Global Snack Food Packaging Market Size is valued at 18.72 billion in 2023 and is predicted to reach 28.09 billion by the year 2031 at a 5.40% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- Partnering with snack manufacturers to develop personalized and visually appealing packaging that grabs attention both on shelves and online is a profitable opportunity.
- Changing consumer preferences and trends, such as a shift towards minimalism or a preference for alternative packaging materials, can create challenges for companies that need to adapt to evolving market demands. By application, chips, crisp, fries, and plantain chips hold the largest share of the market.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- The plastic category has the highest market share by material.
Packaging solutions are advantageous for consumers who are constantly on the go and have health concerns. Manufacturers are making more bag closures to help customers reclose the container and enjoy the leftover food later. The development of snack food packaging materials aims to meet the sector's packaging requirements. The growth of e-commerce primarily drives the market for snack food packaging.
The market for snack food packaging is in enormously high demand and shifts in global dietary habits and a positive outlook for discretionary personal income drive expansion. Fresh packaging opportunities have also arisen due to the widening selection of items produced in single-size portions for more convenience, portability, and portion control. The need for environmentally friendly packaging has also increased due to rising environmental concerns. The snack food packaging market demand has increased due to all these causes.
Furthermore, the custom of snacking in between meals has created a tremendous demand for goods on the international market. The expansion of the worldwide snacks food packaging market is projected to be fueled by the rising number of disconnected families and expanding disposable incomes, which have opened new market prospects for ready-to-eat snack foods.
According to market trends, demand for snack food packaging is expected to increase significantly. The demand is anticipated to be driven by expanding consumer awareness of the healthy lifestyles practiced worldwide and rising ready-to-eat food consumption. Adopting and implementing strategies like snack food consumption has contributed to the snack food packaging market expansion.
Competitive Landscape:
Some of the snack food packaging market players are:
- Amcor Plc
- Bemis Company
- Berry Global Group Inc.
- Bryce Corporation
- Clondalkin Group
- Constantia Flexibles Group GmbH
- Eagle Flexible Packaging, Inc.
- Glenroy Inc.
- Graham Packaging Holdings
- Huhtamaki OYJ
- Logos Packaging Holding Ltd
- Modern-Pak Pte Ltd.
- Owens-Illinois Inc
- Pactiv LLC
- Pouch Direct Pty Ltd.
- ProAmpac Intermediate Inc.
- ProAMPAC LLC
- Purity Flexpack Ltd.
- Sealed Air Corporation
- Sonoco Products Co.
- Swiss Pac Pvt Ltd.
- WestRock Company
- Winpak Ltd
Market Segmentation:
The snack food packaging market is segmented based on packaging format, material, product weight and applications. Based on packaging format, the market is segmented as pouches, bags, boxes, composite cans and others. By material, the snack food packaging market is segmented into polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), bioplastic and others. Based on product weight, the snack food packaging market is segmented as Less than 100 gm, 101 gm to 500 gm, 501 gm to 1 kg, 1 kg to 3 kg, and Above 3 kg. By application, the market is segmented into Chips/crisp/dries/plantain chips, nuts & dry fruits, baby food, ready-to-eat food and others.
Based On Material, The PET Segment Is A Major Contributor To The Snack Food Packaging Market
The PET category will hold a major share of the global snack food packaging market. The PET sector has the largest market share for snack food packaging due to its extensive use in creating plastic pouches for snacks. Another choice is to produce single-use plastic cans or pouches for canned or frozen prepared foods. It is widely used to create boxes and bags for dried fruits, baby food, and chips. PET provides great stiffness to food packaging, in contrast to other forms of plastic. Each of these factors is anticipated to support the expansion of the global snack food packaging market throughout the forecast period.
The Bags Segment Witnessed Growth At A Rapid Rate
The bags segment is projected to grow rapidly in the global snack food packaging market. Bags normally contain thin plastic material to prevent food from being exposed to the environment and the air. Foods can be bagged in a variety of ways. Additionally, composite cans are anticipated to experience rapid growth during the projection period. Chips and other delicate items can be preserved with the help of composite cans, sometimes referred to as hard paper or paperboard containers. This packaging helps maintain the quality of the consumer's preferred food. Resealable lids provide the main advantage of preserving the products' freshness for a longer length of time. The flourishing retail sector and increased disposable income of consumers.
The North American Snack Food Packaging Market Holds A Significant Regional Revenue Share
The North American snack food packaging market is expected to report the highest market share in revenue soon. This can be attributed to the region's strong focus on the environment, with the increasing adoption of snack food packaging in different industries, including food & beverages, personal care, packaging, automotive, etc. The region's petrochemical sector also creates snack food packaging to create environmentally friendly and long-lasting solutions.
The target market is expanding in the region due to factors including rising demand for bio-based ingredients across industries and increasing use of snack food packaging in the region's manufacture of precursor chemicals. In addition, the Asia Pacific region is anticipated to grow rapidly in the global snack food packaging market. The expansion of processed food applications and the substantial density of locally accessible packaging manufacturers drive the Asian-Pacific region's high market growth. The increasing demands are pushing the market for processed food items in developing and emerging nations, including Australia, South Korea, China, Russia, and South Korea.
Snack Food Packaging Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 18.72 Bn |
|
Revenue forecast in 2031 |
USD 28.09 Bn |
|
Growth rate CAGR |
CAGR of 5.40% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion, Volume (Units) and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Packaging Format, Material, Product Weight And Applications |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Amcor plc, Huhtamaki Oyj, Berry Global Group Inc., Constantia Flexibles, Sonoco Products Company, WINPAK LTD., ProAmpac., Pactiv LLC, Swiss Pac Pvt Ltd., O-I Glass, Inc., Pouch Direct Australia, Purity Flexpack Limited., WestRock Company., Logos Packaging, Eagle Flexible Packaging, Glenroy Inc., Sealed Air, Graham Packaging Company, Bemis Company, Inc., and American Packaging Corporation, Bryce Corporation among others. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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