NEWARK, DE / ACCESSWIRE / April 17, 2023 / According to the FMI, the sanitary food and beverage packaging market is anticipated to grow from US$ 40.72 billion in 2023 to US$ 52.55 billion by 2033. The market is projected to exhibit a CAGR of 2.6% between 2023 and 2033.
One of the primary factors is the increasing demand for packaged food and beverages, driven by factors such as rising urbanization, changing consumer preferences, and growing disposable incomes. This is leading to a high need for innovative and sanitary packaging solutions that can keep foods and beverages fresh and safe for a long time.
The Covid-19 pandemic has heightened the focus on hygiene and safety in the food industry. This led to a surge in demand for sanitary packaging solutions that can prevent contamination and ensure product safety. This trend is expected to continue even as the pandemic subsides, as consumers continue to prioritize health and safety in their purchasing decisions.
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Growing preference for eco-friendly and sustainable packaging materials such as biodegradable plastics, paper-based products, and recyclable materials is also shaping the market. This trend is being driven by increasing consumer awareness about the environmental impact of packaging waste as well as growing regulatory pressure to reduce waste and increase sustainability.
There are several exciting opportunities for market growth, including the development of new and innovative packaging solutions that can improve shelf life, reduce waste, protect food from outside influence, and enhance the overall consumer experience. Advances in technology, such as smart packaging solutions that incorporate sensors and other advanced features, are also opening up new opportunities for convenience and value-added offerings in the market.
In the global market, North America holds a dominant position and is anticipated to maintain its dominance during the forecast period. The Food and Drug Administration's (FDA) strict regulations have helped this sector to flourish. The demand in this region for advanced and modern packaging materials is anticipated to rise as producers adhere to food safety and standard regulations.
Key Takeaways:
- The market in the United Kingdom is anticipated to rise, exhibiting a CAGR of 3.4% through 2033.
- The United States dominated the market in 2022, holding a 20% share of the global market.
- In 2022, Japan held a 4.5% market share globally.
- Throughout the forecast period, the market in China is anticipated to expand at a CAGR of 6.1%.
- Germany accounted for 7.5% of the global market in 2022.
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Competitive Landscape:
The key players in the market include Karatzis SA, Crown Holdings Inc., FP Corporation, Silgan Containers, Canfab Packaging Inc., Berlin Packaging LLC., Chuo Kagaku Co. Ltd., and others.
These key players are developing innovative and sustainable packaging solutions to meet the increasing demand for safe, hygienic, and durable products. Moreover, leading players are indulged in making huge investments in research and development activities to create innovative and protective packaging solutions.
Recent Developments:
- In December 2022, Chuo Kagaku Co. Ltd. unveiled a bowl and noodle container with outstanding heat resistance and heat conservation. Additionally, the middle plate lid, which unifies the center plate and lid, is incorporated.
- In October 2022, Crown Holdings, Inc. revealed a newly designed company website to express the significance of metal packaging in establishing brands, showcase the feature's strong sustainability performance, and delivers updated information on the Company's serious environmental, social, and governance (ESG) initiatives.
Key Segments Covered
By Packaging Type (Paperboard, Rigid Plastic, Glass, Flexible Plastic, Metal, Other Packaging Types)
By Product Type (Milk & Other Beverage Cartons, Cups & Liquid Tight Containers, Folding Food Containers, Boards & Trays, Other Product Types)
By Region (North America (United States and Canada), Latin America (Brazil, Mexico, Argentina and Rest of Latin America), Europe (Germany, United Kingdom, France, Italy, Spain, Nordics and Rest of Europe), Japan, APEJ (China, India, Malaysia, Thailand, Singapore, Australia and Rest of APEJ), Middle East & Africa (GCC, South Africa, Nigeria, Israel and Rest of MEA).
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Table of Content
1. Executive Summary | Sanitary Food & Beverage Packaging Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Tonnes) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Tonnes) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Tonnes) Analysis By Material, 2018 to 2022
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