Asia Pacific Food Packaging Market

Asia Pacific Food Packaging Market Growth and Forecast (2023 - 2028):

Asia Pacific Food Packaging Market size was estimated at USD 125 billion in 2022 and is evaluated to show over 4.5% CAGR from 2023 to 2028.

Market Overview:

Food packing incorporates packaging of enhanced snacks, desserts, for example, candy and chocolate, bread and cakes, grains and oats, meat and fish, natural products, vegetables, cheeses, and ingredients like ketchup, and this class additionally contains prepared-to-eat packaged dinners. Along these lines, food packaging has expanded the interest for food through online retail spending.

Asia Pacific Food Packaging Market Trends:

China to command provincial utilization

China is the biggest market for food packing that accounts for almost half of the supply in the provincial market. This can be credited to the nearness of significant makers over the locale. In addition, improving the way of life and buyer spending towards packaged food will additionally increase item requests in the district. India, Japan and South Korea are among the quickest developing nations for the food packaging market attributable to the moving customer inclination to settle on such foods that are moment food making arrangements and offer a perfect dietary benefit that meets their necessities. Moreover, improving the way of life and shopper spending towards packaged food items will additionally increase the market request.

Recent Developments in Asia Pacific Food Packaging Industry:

• In October 2018, Mondi PLC presented inventive maintainable arrangements with the cutting edge Bag-in-Box innovation film for organic product juices, wine or dairy items.
• Nichrome Company has propelled another R&D focus and place of business in Pune. The office has in excess of 12,000 square feet and can oblige 150 individuals.
• In January 2019, the Indian Association of food Safety Standards (FSSAI) distributed another guideline on food packaging that underscores the significance of packaging materials utilized in food packaging.

Drivers and Restraints:

The internet business in the food sector has increased a noteworthy acknowledgment in the area. This is on the grounds that it not just gives a wide scope of food items yet additionally guarantees opportune conveyance of these items with proper packaging. Consequently, with the ascent of online business, the interest in food packaging is probably going to increment. This is on the grounds that legitimate and propelled packaging keeps up the nature of the item as well as expands its time span of usability. Besides, it additionally permits makers to keep up appropriate stock with a sufficient lead time for the following gracefully of transient food items. What's more, the packaging additionally assumes a fundamental job from the merchants' side of the worth chain by keeping up the nature of the made food for a more drawn out term and better transportation.

Thus, tough guidelines toward food packaging and food contact materials may confine development in the food packing business sector over the close to term. For example, the food Safety and Standards Authority of India (FSSAI) in January 2019, reported new guidelines regarding food packing, which focuses on the significance of packaging materials utilized for packing food.

APAC Food Packaging Market Segmentation Analysis:

By Material Analysis:

The Asia Pacific food packaging market analysis is segmented into glass, metal, paper & paperboard, wood, and plastics based on materials. The rise in the use of paper for applications in food packaging of numerous edible foods, fresh vegetables, and drinks is the major factor driving the market boom. Glass bottles are often used for storage and packaging of food products for extended periods or for reusable products. The plastic employed in food packaging is the most feasible element as it is a durable, lightweight, cost-effective, and protects food from damage. Plastic packaging is further divided into polypropylene, PET, polyethylene and others.

By Product Analysis:

The regional market is divided into rigid, semi-rigid, and flexible, based on product. Rigid packaging has the most substantial share due to its augmented use in products like vegetables, fruits, and other food products. Semi-rigid packaging comprises plastics and cardboard, majorly employed for food packaging to secure food products from rot, and harsh climates.

In addition, flexible packaging is estimated to record massive demand owing to increasing technological advancement and innovation solutions for product packaging.

By Application Analysis:

Based on the application, the Asia Pacific food packaging market is divided into fruits & vegetables, bakery & confectionery, dairy products, meat, poultry & seafood, sauces, dressings and condiments, and others. Of these, the bakery & confectionery segment is foreseen to continue its dominion over the outlook period. Food packaging recorded high demand because of special packaging for various product types. Fruits and vegetables have perishable features as they can spoil easily when come in contact with moisture and therefore, need flexible packaging. The development in meat, poultry & seafood sectors can be credited to the surge in demand for these foods from users. Sauces and dressings are often available in rigid packaging as they are relatively non-perishable.

Regional Analysis:

The Asia-Pacific food packaging market is assessed to be a substantial region, trailed by Europe and North America, and speaking to around 36% of all-out market income. China food packaging market is the central purchaser in the APAC business because of its enormous populace and financial development. China's food packaging industry is required to develop at a noteworthy rate because of the developing white collar class and expanded buying power. India's food packaging market is the quickest developing industry because of the more noteworthy utilization of retail chains.

Key Players in the Market:

Major Key Players in the Asia Pacific Food Packaging Market are

• Mondi Group
• Crown Holdings Inc
• DS Smith Plc
• Amcor plc
• Berry Global Inc
• Orora Ltd
• Owens-Illinois Inc
• Ardagh Group S.A
• Ball Corporation
• CPMC Holdings Ltd
• International Paper Co
• Sealed Air Corp