Food Packaging Market: By Material (Paper & Paper-based, Plastics, Metal, Glass, Others), By Packaging (Rigid, Semi Rigid, Flexible), Product Type (Cans, Converted Roll Stock, Gusseted Box, Corrugated Box, Others), By Application (Bakery & Confectionary, Dairy Products, Fruits & Vegetables, Meat, Poultry, & Seafood, Sauces & Dressings, Others) and Geography

Food Packaging Market size was valued at USD 396.2 billion in 2022, growing at a significant CAGR of 7.5% during 2023 to 2029. The global food packaging market provides a comprehensive overview, segmented by Material Type, Packaging Type, Product Type, and Application. Material Type categories include Paper & Paper-based, Plastics, Metal, Glass, and Others, with the paper & paper-based segment expected to be both the largest and fastest-growing. Packaging Type divisions consist of Rigid, Semi-Rigid, and Flexible, with the Rigid segment projected to experience the most rapid growth from 2023 to 2029. In terms of Product Type, it is categorized into Cans, Converted Roll Stock, Gusseted Box, Corrugated Box, and Others, with the Cans segment holding the largest share in 2022, while Converted Roll Stock ranks second during the forecast period. As for Application, the market is divided into Bakery & Confectionary, Dairy Products, Fruits & Vegetables, Meat, Poultry, & Seafood, Sauces & Dressings, and Others, with the dairy products segment expected to lead and witness the highest CAGR during the forecast period, according to Precision Business Insights.

The Food Packaging Market Key Developments :

• In April 2022, Mondi Group plc launched two new recyclable packaging products - PerFORMing Monoloop and Mono Formable PP a paper-based tray and a semi-rigid plastic tray that will provide high barrier food protection.