Snack Food Packaging Global Market Report 2024

The snack food packaging market size has grown strongly in recent years. It will grow from $27.34 billion in 2023 to $29.18 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The expansion observed in the historical period can be attributed to increased health consciousness, robust economic growth in emerging markets, rapid growth in e-commerce, and a rising demand for ready-to-eat products.

The snack food packaging market size is expected to see strong growth in the next few years. It will grow to $39.76 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The anticipated growth in the forecast period can be attributed to the influence of digital media marketing and social media, a rising demand for savory and tasty snack foods, increased penetration of retail, and ongoing urbanization. Key trends expected during this period include the development of new sustainable packaging products, a focus on case packing to provide integrated and automated packaging room solutions, the utilization of digital printing technologies for packaging, emphasis on transparency in snack packaging, and a strategic focus on partnerships and collaborations to expand product portfolios and geographic presence.

The growth of the snack food packaging market is anticipated to be propelled by the increasing consumption of ready-to-eat food. Ready-to-eat meals are perceived as a highly convenient alternative to traditional foods, allowing for instant consumption with minimal preparation. These meals utilize snack food packaging, requiring only a brief heating period before serving. For instance, in August 2021, ready-to-eat product sales saw a significant surge of 9.1%, as reported by Bizom, an India-based retail intelligence platform. Thus, the rising demand for ready-to-eat food is poised to be a driving force for the snack food packaging market.

A substantial driver for the snack food packaging market is the growing penetration of the retail sector. Factors such as increasing disposable incomes, evolving consumer preferences, robust economic growth, and shifting demographic profiles contribute to the retail market's expansion. Additionally, the rise in internet penetration and the entry of international retailers into various regions further fuel the retail sector's growth. This, in turn, strengthens consumer spending on snack food products. The global retail market is expected to witness substantial growth from $26,178.75 billion in 2022 to $37,665.82 billion in 2027. Consequently, the increasing prevalence of retail is expected to drive the snack food market and, consequently, the snack food packaging market in the forecast period.

A noteworthy trend gaining traction in the snack food packaging market is product innovations, with a particular focus on developing recyclable packaging materials to address environmental concerns. In May 2021, Amcor, a Switzerland-based packaging company, introduced recycled food packaging designed for powdered chocolate in Colombia. This sustainable packaging solution adheres to industry recycling standards, reducing the package's carbon footprint by 53% and water consumption by 84% when recycled.

Digital printing technology is emerging as a key trend in the snack food packaging market. Companies in this sector are leveraging digital printing technologies for packaging, particularly for digitally printed labels containing product and brand information. Digital printing, recognized for its benefits over impression printing, is sought after by brands, especially for compact stock-keeping units (SKUs). Sealed Air, a US-based packaging company, introduced Prismiq in 2022 - a digital packaging brand offering solutions for design services, digital printing, and smart packaging. Prismiq enhances product visibility and customer interaction while minimizing waste and excess packaging. Sealed Air's end-to-end cloud-based platform generates a package-specific digital ID, collecting and managing data throughout the value chain.

In September 2021, Tekni-Plex, a US-based material science and manufacturing technologies company, acquired Grupo Phoenix to expand its innovative solutions, particularly in the food and beverage sectors. Grupo Phoenix specializes in manufacturing rigid packaging solutions.

Major companies operating in the snack food packaging market report are Amcor PLC, The Smurfit Kappa Group PLC, Sonoco Products Company, Huhtamaki OYJ, Sealed Air Corp, Berry Global Inc., Constantia Flexibles Group GmbH, Mondi PLC, Graham Packaging Holdings, Bryce Corporation, Jayshri Propack Private Limited, Malhar Enterprises, Packman Industries, Lodhi House Hold Packing Company, Huizhou Foray pack Co Ltd., Shanghai Eastern Printing & Packing Co Ltd., Zhejiang Qianlin Pack Tech Co Ltd., Jinan Zhanqiaoxin Trading Co Ltd., Guangzhou Huaisheng Packaging Inc., Wenzhou Baoshijie Packing Co Ltd., The Food Packaging Company Ltd., R+R Packaging, Food Packaging Direct, Charlotte Packaging, GM Packaging, Atlas Packaging, ABC Packaging, Polyer Llc, Crafty House, Vkp Signal-Pack, Proxio Co.Ltd., Ideal Foodpack, Romdist Packaging, Bemis Company Inc., Reynolds Group Holdings Limited, Clondalkin Group Holdings BV, PepsiCo, JBS, Tyson Foods of Springdale, Mars Inc., Cargill Inc., Kraft Heinz, Mondelez International, General Mills of Minneapolis, Land O'lakes Inc., Kellogg, Snack Crops, Arcor, Smurfit Kappa Bag-in-Box, Gualapack, The Harvest Company, A.A.A Satambker Import Export and International Trade, Agthia Group, Detpak Middle East, Reelfruit, Foster Packaging, Columbit (PTY) Ltd., Trempak, King Pack, Standard Packing.

Asia-Pacific was the largest region in the snack food packaging market in 2023. The regions covered in the snack food packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the snack food packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary types of snack food packaging include flexible packaging and rigid packaging. Flexible packaging involves the use of bags or pouches sealed through heat or pressure, typically crafted from materials such as plastic, film, foil, or paper. This type of packaging tends to be lighter than rigid packaging. The materials used in snack food packaging encompass plastic, paper, metal, and others. These packaging solutions are utilized in various applications, including bakery snacks, candy and confections, savory snacks, nuts and dried fruits, and other snack food items.

The snack food packaging market research report is one of a series of new reports that provides snack food packaging market statistics, including snack food packaging industry global market size, regional shares, competitors with a snack food packaging market share, detailed snack food packaging market segments, market trends and opportunities, and any further data you may need to thrive in the snack food packaging industry. This snack food packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The snack food packaging market includes revenues earned by entities by providing sealing services, leaking free sealing, vaccum serivces. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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