Food Packaging Market To Reach $562.38 Billion By 2030

Food Packaging Market Growth & Trends

The global food packaging market size is expected to reach USD 562.38 billion in 2030 and is expected to grow at a CAGR of 5.9% from 2025 to 2030 Increased diverse eating habits and lifestyle changes have driven the demand for convenience food products which is expected to bolster the growth of the global food packaging industry.

The food packaging industry exhibits rapid growth for portable and single-serve food packs. Rising global per capita income is expected to increase the purchasing power of buyers further driving the demand for packaged foods products. Although real wages witnessed a decline in 2022, according to the Observatory of Economic Complexity (OECD), by the end of 2023, real wages are projected to stop declining. This is attributed to the extensive rollout of support initiatives by governments across the globe to cushion the effects of food prices and high energy on households. This is expected to increase the consumer spending capacity thereby driving the demand for packaged food & beverages.

The high volatility observed in the prices of raw materials is expected to restrain the food packaging industry's growth. However, the introduction of sustainable packing materials by major food packaging manufacturers, coupled with increasing awareness and notable consumption volume by buyers, is expected to propel the food packaging industry over the forecast period.

Growing concerns regarding food safety and contamination are predicted to support the demand for effective packaging solutions. In addition, sales of packaged foodstuff are anticipated to propel due to the increasing number of retail food chains opened by big food brands, consequently driving demand for packaging material. The surge in demand for food delivery services such as Uber Eats, Zomato, DoorDash, and Grubhub among others is also expected to have a positive impact on the food packaging industry.

The growing food sector has attracted food packaging manufacturers to invest in increasing their production capacities. For instance, in April 2023, UAE-based Hotpack Global announced its intent to build a specialized food packaging project in Saudi Arabia. The project is expected to be valued at USD 266.0 million and will be developed jointly with the Saudi Ministry of Industry.

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Food Packaging Market Report Highlights

• Based on material, the market is segmented into plastics, paper & paper-based materials, glass, metal, and others. The plastic segment accounted for the largest market share of over 39.0% in 2024

• The bakery & confectionery segment recorded the largest market share of over 27.0% in 2024, due to growing demand for cakes, candies, and frozen ready-to-eat bakery products

• The food packaging market in Asia Pacific dominated the global industry and accounted for the largest revenue share of over 40.0% in 2024

• The food packaging industry is highly fragmented and is characterized by the presence of a large number of players. Key players comprise Amcor Plc., Ball Corporation, Berry Plastic Group, and DS Smith PLC

• In May 2023, Amcor plc inked a definitive agreement to acquire New Zealand-based Moda Systems. This acquisition is expected to help Amcor expand its existing film portfolio and offer an end-to-end packaging solution incorporating even the sales of packaging machines

Food Packaging Market Segmentation

Grand View Research has segmented the global Food Packaging market report based on type, end use, and region:

Food Packaging Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Flexible

• Rigid

• Semi-rigid

Food Packaging Material Outlook (Revenue, USD Billion, 2018 - 2030)

• Plastics

• Paper & Paper-Based Materials

• Glass

• Metal

• Others

Food Packaging Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Bakery & Confectionery

• Dairy Products

• Fruits & Vegetables

• Meat & Seafood

• Sauces & Dressings

• Others

Food Packaging Packaging Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Cups

• Bottles

• Cans

• Pouches

• Trays

• Others

Food Packaging Food Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Frozen Food

• Chilled Food

• Canned Food

• Shelf Stable Food

Food Packaging Region Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • U.K.

  • Italy

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

• Central & South America

  • Brazil

• Middle East & Africa

  • Saudi Arabia

List of Key Players in Food Packaging Market

• International Paper Company

• Mondi

• Smurfit Kappa Group

• Graphic Packaging International, LLC

• DS Smith

• Eastern Pak Limited

• WestRock Company

• Packaging Corporation of America

• Nippon Paper Industries Co., Ltd.

• Sonoco Products Company

• Amcor plc

• Clearwater Paper Corporation