CAGR: 4.4%Current Market Size: USD 17.2 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global snack food packaging market is expected to grow from USD 17.2 billion in 2022 to USD 24.27 billion by 2030, at a CAGR of 4.4% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the increasing demand for ready-to-eat food due to a busy lifestyle.
Packaging keeps food items preserved and fresh while keeping their taste and quality. It keeps moisture and pollutants out, prevents spills and tampering, and helps preserve the shape and quality of the food product. Food safety and hygiene are becoming increasingly important to manufacturers in the snack food packaging market, which is why they are expanding their capabilities in creating single-serve packaging solutions. As disposable incomes increase, ready-to-eat snack foods have opened up tremendous opportunities, which in turn has fueled the snack food packaging market worldwide. In the near future, the global snack food packaging market will grow as a result of the growing number of nuclear families and increasing disposable incomes, which in turn will bring huge opportunities for ready-to-eat snack foods. The choice to indulge in exotic flavour options at reasonable prices, convenience and changing consumer lifestyles all influence the growth of snack food packaging. In addition, the heightened focus on fresh food consumption will cause hindrances to the market growth rate. Fluctuations in raw material prices will further dampen the market growth. Moreover, growing demand for innovative packaging solutions, growing research and development proficiency, an increase in packaging products for ready-to-eat foods, and an increase in the availability and affordability of bulk production machines are some other factors that contribute to market growth.
Sample Request: - Global Snack Food Packaging Market
Market Dynamics:
Drivers:
The growth of the market is mainly driven by the changing lifestyle and rising demand among consumers for packaged snacks due to busy schedules. The longer working hours and commute time, as well as a growing number of smaller households, have created an increasing need for convenient single-serving foods and packaged foods. Because of this trend, food manufacturers are expected to innovate and provide convenience foods to their customers, leading to a growth in the food packaging & equipment market.
Restraints:
The snack food packaging market is witnessing immense growth but there are some factors which are restricting the growth of the market. Factors like high cost of material and technological advancement. Technological advancements in the field of packaging are helping the key players to develop more effective packaging materials but the cost associated with the manufacturing of these packaging materials are quite high, as a result of which the majority of key players are not opting for new and improved packaging, which is directly impacting the growth of the market.
Opportunities:
Packaging innovation, such as sophisticated packaging products made from materials like biaxially oriented polyethene terephthalate, biaxially oriented polypropylene and cast polypropylene, has led snack food packaging manufacturers to offer colourful and attractive packaging to attract consumers' attention. Such innovation in food packaging is offering more opportunities for the snack food packaging market to grow.
Challenges:
Major key players are continuously focusing on creating eco-friendly and efficient packaging which is creating growth opportunities for the market but on the other skilled labour is required for the handling of advanced machines which are used for the manufacturing of advanced packaging, which is one of the biggest challenges faced by the market. The lack of skilled labours availability is hampering the growth of the market.
Segmentation Analysis:
The global snack food packaging market has been segmented based on product type, material, application, and region.
By Product Type
The product type segment includes plastic, wood, paper & paperboard, glass and others. The paper & paperboard segment led the largest share of the snack food packaging market with a market share of around 29% in 2022. There has been a tremendous uptick in demand for paper and paper-based products globally, and the market is expected to grow at a substantial CAGR over the Projection period. With changing regulatory environments that place a greater emphasis on environmental protection, companies have adapted environmentally friendly packaging to meet the needs of consumers who want eco-friendly packaging. A major driving force behind the market is the increasing use of paper in food packaging, beverages, and vegetable packaging.
By Material
The material segments include flexible, rigid and semi-rigid. The flexible segment led the largest share of the snack food packaging market with a market share of around 41% in 2022 A significant growth in revenue is expected during the Projection period for the flexible segment, which accounted for the largest share of revenue in 2021. In the food industry, flexible packaging materials have evolved because of shrinking household sizes and a rise in snacking. Since flexible packaging uses fewer resources, it is more environmentally friendly, and end-user companies prefer it over rigid packaging. Bags and pouches will likely grow in popularity as a preferred packaging type over the next few years as a result of this trend.
By Application
The application segments include bakery & confectionery products, nuts & dried fruits, dairy products, dressings & condiments and others. The bakery & confectionery segment led the largest share of the snack food packaging market with a market share of around 30% in 2022. As a result of their moisture barrier packaging, bakery and confectionery products are generally stored for an extended period of time. Due to its advantages such as lightweight, printability, and cost-effectiveness, flexible packaging is widely used for the aforementioned application. The attractive packaging of confectionery products is expected to increase the segment's growth.
Global Snack Food Packaging Market- Sales Analysis.
The sale of snack food packaging expanded at a CAGR of 4% from 2015 to 2021
Growing disposable incomes and the number of nuclear families have created enormous prospects for ready-to-eat snack foods, which has in turn fueled the expansion of the worldwide snack food packaging market in the coming years. Convenience, changing consumer lifestyles, and the chance to indulge in unusual flavour selections at affordable rates are the main reasons driving the growth of the snack food packaging industry.
As these are now trends in the general snack food market, customers are clamouring for healthier snack food products but are unwilling to give up flavour. Additionally, the practise of snacking in between meals has greatly increased demand in the world market for snack food packaging.
The worldwide snack food packaging market has experienced growth as a result of branding and product innovation. Manufacturers place a strong emphasis on their product line in order to appeal to consumer tastes, and by creating new options to meet regional need, they have grown their customer base.
Thus, owing to the aforementioned factors, the global snack food packaging market is expected to grow at a CAGR of 4.4% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the snack food packaging market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the snack food packaging market and held a 39.6% share of the market revenue in 2022.
Global Snack Food Packaging Market - Country Analysis:
Germany's snack food packaging market size was valued at USD 1.27 billion in 2022 and is expected to reach USD 1.8 billion by 2030, at a CAGR of 4.6% from 2023 to 2030.
Germany has one of the largest markets of natural and organic snacks. With its convenience and quick source of nutrition and energy, snack food has emerged as an alternative to full-fledged meals in the country.
China’s snack food packaging market size was valued at USD 1.34 billion in 2022 and is expected to reach USD 1.94 billion by 2030, at a CAGR of 4.8% from 2023 to 2030.
In recent years, China’s E-commerce platforms have grown substantially, providing more opportunities for consumers and local companies to fulfil their needs for packaged healthy snacks that fit their busy lifestyles.
India's snack food packaging market size was valued at USD 1.03 billion in 2022 and is expected to reach USD 1.48 billion by 2030, at a CAGR of 4.7% from 2023 to 2030.
There is a strong demand for flexible packaging in the country due to rising per capita incomes, health consciousness, and changing lifestyle patterns. In addition, the growth of the working population, higher disposable incomes, and a shift in population dynamics from rural to urban areas have led to a growing preference for processed food, which is boosting the growth of the market in the country.
Key Industry Players Analysis:
To increase their market position in the global snack food packaging market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
4.4% |
Market Size |
17.2 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Material, By Product Type, By Application, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Sunflex Laminators, Bemis Manufacturing Company, WestRock Company, Graham Packaging Company, Eagle Flexible Packaging, GSC Packaging, Sealed Air, Sonoco Product Company, Kendell Packaging Corporation, Bryce Corporation, Smurfit Kappa, Dow, Tenka Flexible Packaging, Berry Global Inc., Huhtamaki Oyj, GSC Packaging, Inc, and Constantia Flexibles. |
By Material |
|
By Product Type |
|
By Application |
|
Regional scope |
|
Scope of the Report
Global Snack Food Packaging by Material:
Global Snack Food Packaging Market by Product Type:
Global office furniture market by Application:
Global office furniture market by Region:
Global snack food packaging market is expected to reach USD 24.27 billion by 2030.
The global snack food packaging market is projected to have a CAGR of 4.4%.
Leading market players active in the global snack food pakaging are Sunflex Laminators, Bemis Manufacturing Company, WestRock Company, Graham Packaging Company, Eagle Flexible Packaging, GSC Packaging, Sealed Air, Sonoco Product Company, Kendell Packaging Corporation, Bryce Corporation, Smurfit Kappa, Dow, Tenka Flexible Packaging, Berry Global Inc., Huhtamaki Oyj, GSC Packaging, Inc, Constantia Flexibles among others.
Based on the product type, the global office furniture market has been segmented into the flexible, rigid and semi-rigid.
Based on the material, the snack food packaging market is segmented into plastic, wood, paper & paperboard, glass and others.
Political Factors- The market for snack food packaging must keep a close eye on the government's priorities for the overall sector in order to predict trends. Contrary to most other countries, local governments play a significant role in the development of laws and policies globally. The snack food packaging market must actively monitor the states and territories where it operates rather than establishing regulations for the entire world. The new government laws might make it easier to invest in global basic materials business.
Economic Factors- Over time, the worldwide government has increased spending on building necessary infrastructure in order to facilitate and improve the economic climate. The global market for snack food packaging can benefit from the development of the current infrastructure. Human resources with moderate to high skill levels are available in the global market for snack food packaging. Additionally, it may be used to improve services in the global market for snack food packaging by utilising the qualified personnel. Government intervention in the Basic Materials industry, notably Chemical Manufacturing, may have an impact on the fortunes of the market for snack food packaging.
Social Factors- Globally more people have generally gained access to essential services over the last half-decade. This is due to increased investment in public services. The media has a big impact on public opinion globally. Both traditional and social media are rapidly growing. The snack food packaging market can take advantage of this trend to position and market their products more effectively. Demographics are on the snack food packaging market side when it comes to the products for Basic Materials. This tendency offers the snack food packaging industry a chance to cater to various demographics.
Technological Factors- Because of the development and broad adoption of mobile technology, customers' expectations in the Basic Materials sector have altered. The snack food packaging market needs to innovate as well as meet and control these expectations in order to remain competitive. Japan makes both large-scale and small-scale investments in R&D. There is a creative disruption environment if both public and private players are investing money in developing innovative solutions. Because the technology in the field of chemical manufacture is still in its infancy, the majority of companies are competing for new discoveries that will enable them to expand their market share.
Environmental Factors- Extreme weather must be used to increase the cost of operations in the snack food packaging market in order to boost supply chain flexibility. Due to continued environmental agency inspections, the operational costs of the snack food packaging market are also rising. Waste management has become more crucial for industries like the snack food packaging market, especially for facilities close to cities. For the removal of trash in urban areas, the national government has developed strict regulations. Recycling is quickly moving from being a good practise to the norm in country economy. The snack food packaging market must make preparations in order to adhere to regulations and requirements in the Basic Materials sector.
Legal Factors- What the snack food packaging industry must do to comply with worldwide health and safety regulations, and how much that compliance will cost. Resolution timelines can occasionally take years, despite the fact that certain countries follow international standards. snack food packaging must carefully analyse the average time for individual scenarios before accessing the worldwide market. Japanese employment law and its impact on the corporate strategy of the chemical manufacturing sector. the Japanese legal system that governs commerce
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