Market Research Report
Food Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
|Published by||IMARC Services Private Limited||Product code||662777|
|Published||Content info||102 Pages
Delivery time: 2-3 business days
|Food Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024|
|Published: June 10, 2019||Content info: 102 Pages||
Food packaging plays a vital role in preserving and transporting a food item to its desired location without hampering its taste or quality. It helps to prevent food products from bacteria, spillage, moisture and toxins. Food packaging is also used for information transmission such as the food products nutrition content, expiry date, price and origin. It also acts as a modern marketing medium for the sellers to attract a large number of consumers. According to the latest report by IMARC Group, titled "Food Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", the global food packaging market reached a value of US$ 289.5 Billion in 2018.
A rapid change in the food preferences of the consumers coupled with expanding food retail sector worldwide is one of the major factors catalysing the growth of the global food packaging market. In addition, surging working population, rising disposable incomes and hectic lifestyles have led to the trend of a rising consumption of fast food and ready-to-eat products. This has further widened the growth prospects of the global food packaging market. Some of the other factors that have been proactive in maintaining the demand for food packaging are population growth, eco-friendly food packaging and a strong demand from emerging markets. Looking forward, the market value is projected to reach US$ 372.8 Billion by 2024, expanding at a CAGR of 4.3% during 2019-2024.