Food
packaging market is by far the largest application segment of the
packaging industry, accounting for more than one-third of the global
packaging market. From a global perspective, the food packaging
market is at a very interesting situation, where the market has
almost reached a plateau in terms of technology in the more developed
nations in North America and Europe, while the emerging countries of
Asia Pacific region are playing catch up to the packaging
technologies and food supply chain management. Different types of
food products require varied packaging types according to their
individual usage and perishability.
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The
sea change in food habits and preference for processed food has
propelled the food packaging market in the past. The market for
packaged food has already reached a holistic level in North America
and Western Europe, while rapid lifestyle changes and economic
growth, coupled with rising population in Asia Pacific countries such
as China and India, has spiked the growth rate of food packaging in
the region. The growth rate in South America and the Middle East is
also on the higher side compared to the developed economies. The main
reason for increasing preference for processed food is the shifting
population dynamics towards urban centers from rural areas. This has
resulted in the advent of dual income urban families, who prefer
processed food due to time constraints. Packaged food has evolved
from super markets to neighborhood stores in countries such as China,
India, Brazil and Thailand among others. The market dynamics in North
America and Europe however, is governed by branding activities
undertaken by food processing companies.
Tremendous
opportunity exist in the food packaging market in emerging economies
as the food packaging technology is in its growth phase in this
region. Antimicrobial packaging technique is of particular interest
as it helps to improve the shelf life of perishable food products.
The market is however, slightly restrained by the declining growth in
North America and Europe.
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The
food packaging market can be segmented into application segments such
as convenience foods, confectionary items, dairy items, fruits and
vegetables, meat and sauces and dressings. The popularity of the
different food applications is different across the globe. For
instance packaged meat is making foray into Asia Pacific region while
it is mainstream in North America and Europe. Materials used to
package food can also be segmented into plastic, paper & board,
metal and glass. They may also be classified as rigid, semi-regid and
flexible by type of packaging material. The preferences for different
packaging materials also vary with regions due to the food habits
specific to the regions. Flexible packaging accounts for the largest
share of food packaging.
North
America is the largest food packaging market followed by Europe and
Asia Pacific. However the growth rate exhibited by these regions has
subsided considerably as the market is close to its peak. The growth
parity is however, restored by the high growth regions of Asia
Pacific and South America. China and India have exhibited exceptional
growth potential and is expected to overtake the market leading
position from North America in the near future.
Some
of the major players in the food packaging market are American
Packaging Corporation, Anchor Packaging, Crown Holdings, Inc. and
Bemis Company, Inc., among many others.
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