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Snack Food Packaging Global Market Report 2023
Major players in the snack food packaging market are Swiss Pack Private Limited, Sealed Air Corporation, Sonoco Products, Graham Packaging Holdings, Bryce Corporation, ProAmpac Intermediate Inc., Modern-Pak Pte Ltd.
New York, March 07, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Snack Food Packaging Global Market Report 2023" - https://www.reportlinker.com/p06323892/?utm_source=GNW
, Eagle Flexible Packaging Inc., Amcor, Bemis Company, Huhtamaki Global, Clondalkin Group, Berry Global Group Inc., Sonoco Products Co., Logos Packaging Holding Ltd., and Constantia Flexibles Group GmbH.
The global snack food packaging market grew from $25.45 billion in 2022 to $27.04 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The snack food packaging market is expected to grow to $34.48 billion in 2027 at a CAGR of 6.3%.
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 snack food packaging are used to keep snacks consumable by providing oxygen, moisture, and light barrier properties.Snack food packaging prevents or decreases product damage and food deterioration.
These are used for potato chip packaging, cracker packaging, wafer packaging, and packing other snack food items.
Asia-Pacific was the largest region in the snack food packaging market in 2022. The regions covered in the snack food packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main snack food packaging types include flexible packaging and rigid packaging.Flexible packaging is bags or pouches sealed using heat or pressure and made using plastic, film, foil, or paper, which makes them less heavy than rigid packaging.
The different material types include plastic, paper, metal, and others that are used in bakery snacks, candy and confections, savory snacks, nuts and dried fruits, and other applications.
The increase in consumption of ready-to-eat food will propel the growth of the snack food packaging market going forward.Ready-to-eat food is seen as the most convenient alternative to conventional food because it may be consumed at any moment.
These ready-to-eat meals use snack food packaging and simply require a few minutes of heating before serving. For instance, according to Bizom, an India-based retail intelligence platform, the sales of ready-to-eat products surged by 9.1% in August 2021. Hence, the increasing consumption of ready-to-eat food will drive the snack food packaging market.
Product innovations are the key trends gaining popularity in the snack food packaging market.The companies operating in the snack food packaging sector are focusing on developing recyclable packaging materials to address the environmental issues caused by other packaging.
For instance, in May 2021, Amcor, a Switzerland-based packaging company, launched recycled food packaging for powdered chocolate in Colombia.The new packaging solution is designed to be recycled as per industry standards.
The new solution reduces the package’s carbon footprint by 53% and water consumption by 84% when it is recycled.
In July 2020, Central National Gottesman Inc. (CNG), a US-based manufacturer of pulp, paper, packaging, and tissue, acquired American Packaging for an undisclosed amount. This acquisition strengthens Central National Gottesman Inc’s growing industrial and retail packaging business throughout the western United States. American Packaging is a US-based packaging company.
The countries covered in the snack food packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
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.
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