Food Packaging and Processing Market Report 2024

This Food Packaging And Processing market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The food packaging and processing market size has grown strongly in recent years. It will grow from $75.52 billion in 2023 to $80.04 billion in 2024 at a compound annual growth rate (CAGR) of 6%. The rise during the historical period is linked to heightened environmental awareness, a stronger emphasis on health and wellness, increased consumer education, greater demand for ingredient transparency, and a growing focus on portion control.

The food packaging and processing market size is expected to see strong growth in the next few years. It will grow to $101.44 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The anticipated growth in the forecast period is driven by the expansion of e-commerce, globalization and trade, innovation in packaging materials, the burgeoning plant-based food sector, and the increase in ready-to-drink (RTD) beverages. Key trends for the forecast period include advancements in processing techniques, the adoption of smart systems, high-pressure processing (HPP), improved food safety technologies, and smart labeling.

The growing demand for convenience food is set to drive the expansion of the food packaging and processing market. Convenience food, which is designed to be quick and easy to prepare or consume, is increasingly sought after due to busy lifestyles, a preference for quick meal solutions, and the need for efficient food preparation in a fast-paced world. Food packaging and processing support convenience food by extending shelf life, preserving freshness, and simplifying preparation, making ready-to-eat meals more accessible to consumers. For example, in March 2024, the Bank of Ayudhya Public Company Limited, a Thailand-based commercial bank, projected that the domestic market for Thai-made ready-to-eat food would grow by 3.0-4% annually from 2024 to 2026. Additionally, in 2022, the industry saw a total domestic and export sales volume of 482.4 thousand tons, valued at USD 2 billion. Consequently, the rising demand for convenience food is driving growth in the food packaging and processing market.

Key players in the food packaging and processing market are focusing on developing advanced solutions, such as water-based and plant-sourced coatings, to enhance sustainability and reduce environmental impact. These coatings are made from natural plant materials and dissolved in water, avoiding petroleum-based solvents. For instance, in December 2023, Melodea Ltd., a US-based provider of sustainable barrier coatings, introduced MelOx NGen, a high-performance barrier product that improves the recyclability of plastic food packaging. This innovative solution features a water-based, plant-sourced coating that not only enhances recyclability but also maintains food freshness and extends shelf life. It serves as a cost-effective and sustainable alternative to petroleum-based materials such as Ethyl Vinyl Alcohol copolymers (EVOH) and metalized polyethylene terephthalate (met-PET), and is compatible with various types of plastics, including nanostructure plastics.

In April 2024, Baldwin Richardson Foods, a US-based manufacturer specializing in custom ingredient catering, acquired Pennsauken Packing Company, LLC, for an undisclosed amount. This acquisition aims to expand Baldwin Richardson Foods' aseptic beverage manufacturing capabilities into new regions, allowing the company to better serve customers nationwide. Pennsauken Packing Company is a US-based provider of food packaging and processing services.

Major companies operating in the food packaging and processing market are WestRock Company, Ball Corporation, Amcor Public Limited Company, Berry Global Inc., Tetra Pak Ltd., Mondi Group, DS Smith plc, Graphic Packaging Holding Company, Sonoco Products Company, Silgan Holdings Inc., Sealed Air Corporation, Huhtamäki Oyj, Pentair Commercial Ice LLC, Reynolds Consumer Products Inc., Bühler Group, ProAmpac LLC, Marel Inc., John Bean Technologies Corporation, Winpak Ltd., Emmerson Packaging Ltd., PakTech LLC, Pacmoore Product Inc., Chantler Packages Limited, CuBE Packaging Solutions Inc.

Asia-Pacific was the largest region in the food packaging and processing market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the food packaging and processing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the food packaging and processing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Food packaging and processing involve enclosing food products in containers and employing various methods to convert raw ingredients into ready-to-eat items. This process uses advanced technologies to maintain freshness, extend shelf life, ensure safety, enhance convenience, and minimize waste.

Food packaging and processing are categorized into three main types rigid, semi-rigid, and flexible. Rigid food packaging and processing involve using solid, inflexible containers and methods to preserve, protect, and prepare food products. This includes equipment for tasks such as filling, bottling, case cartoning, labeling, and palletizing. The materials used can be paper and paper-based materials, plastics, metal, glass, and more. These methods apply to various sectors, including bakery and confectionery, meat and poultry, dairy products, beverages, and others.

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

The food packaging and processing market consists of revenues earned by entities by providing services such as food preservation, product packaging, labeling and branding, portioning, sterilization and pasteurization, aseptic processing, modified atmosphere packaging (MAP), sealing, and wrapping. The market value includes the value of related goods sold by the service provider or included within the service offering. The food packaging and processing market also includes sales of glass jars and bottles, plastic containers, and metal cans. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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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