Food Packaging Market Size, Share & Trends Report

Food Packaging Market Size, Share & Trends Analysis Report By Type (Rigid, Semi-rigid, Flexible), By Material (Paper, Plastic), By Application, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-2-68038-365-2
  • Number of Pages: 160
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the food packaging market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for food packaging market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of food packaging market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Food Packaging Market Categorization:

The food packaging market was categorized into five segments, namely product (Instruments, Reagents & Consumables, Software, Accessories, Services), technology (Cell-based, Bead-based), application (Research, Industrial, Clinical), end-use (Commercial Organizations, Hospitals, Academic Institutes, Clinical Testing Labs), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The food packaging market was segmented into product, technology, application, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The food packaging market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-five countries, namely, the U.S.; Canada; the UK; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Brazil; Mexico; Argentina; Saudi Arabia; UAE; Egypt; South Africa; and Nigeria.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Food packaging market companies & financials:

The food packaging market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Amcor plc, Amcor plc is a global company that specializes in the development and production of packaging for various sectors including food, beverage, pharmaceutical, medical, home, and personal care. The company's operations are divided into eight segments: Food, Beverages, Healthcare, Homecare, Personal Care, Pet Care, Specialty Cartons, and Technical Applications.

  • Sealed Air Corporation, Sealed Air Corporation is a provider of packaging solutions, automation, equipment, and services. The firm is involved in the design and distribution of packaging products that safeguard food, secure products, and streamline packaging procedures across various sectors such as fresh proteins, food, fluids, medical & healthcare, e-commerce, logistics & omnichannel fulfillment operations, and industrials.

  • Sonoco Products Company, Sonoco Products Company is involved in the production of a variety of consumer, industrial, healthcare, and protective packaging items. Its product portfolio is primarily split into two key segments, namely consumer packaging and industrial paper packaging.

  • Berry Global Inc., Berry Global Inc. is an international provider of plastic packaging goods for markets focused on consumers such as healthcare, personal care, and food & beverages. The company's main products include cups, containers, tubs, pots, medical devices, tapes, jars, lids, tubes, and trays tailored to various industries. The company is divided into four segments: Consumer Packaging International, Consumer Packaging North America, Engineered Materials, Hygiene & Specialties, and Health. The Consumer Packaging International segment offers products like bottles and canisters, containers, closures & dispensing systems, pharmaceutical devices & packaging, and technical components.

  • WestRock Company, WestRock Company offers eco-friendly fibers and paper-based packaging solutions to various sectors such as beauty and personal care, food & beverage, healthcare, e-commerce, media & electronics, home & garden, luxury packaging, and tobacco. The company's operations are divided into three segments: corrugated packaging, consumer packaging, and land development segments.

  • Mondi, Mondi is a producer and distributor of paper and packaging products, catering to sectors like automotive, retail, construction, chemicals and hazardous materials, food and drinks, home and personal care, and office and professional printing. Its operations are primarily divided into four divisions: Corrugated Packaging, Engineered Materials, Flexible Packaging, and Uncoated Fine Paper.

  • Genpak LLC, Genpak LLC is a producer of food containers and packaging solutions made from materials such as plastics, papers, foams, and compostable & eco-friendly substances. Besides offering standard packaging solutions, the company also caters to the specific branding packaging needs of food processing firms.

  • American Eagle Packaging, American Eagle Packaging, a private entity, manufactures a variety of packaging products for diverse sectors such as automotive, consumer goods, food, hardware, healthcare, household, medical, and plastics. In addition to product manufacturing, the company offers facilities like the design and execution of custom packaging programs, management of packaging inventory, and provision of warehouse facilities to businesses.

  • DS Smith PLC, DS Smith PLC is a global provider of packaging solutions. Their product range encompasses transit packaging, consumer packaging, promotional packaging, and bespoke packaging. In addition to this, they offer consulting services in areas such as supply chain auditing, creative design, picking services, and local services for customers nearby.

  • Ardagh Group, Ardagh Group is a premier company in the packaging industry, serving various sectors. In the beverage industry, Ardagh outshines in creating packaging solutions in glass and metal, such as bottles, cans, and kegs, catering to a wide-ranging spectrum of beverages. For the food industry, Ardagh delivers inventive and eco-friendly packaging substitutes that guarantee product freshness and attractiveness. In the realm of beauty and personal care, Ardagh supplies appropriate packaging solutions, including glass receptacles and closures, fulfilling the aesthetic and practical requirements of brands. Also, the company caters to the pharmaceutical and healthcare sectors with explicit packaging solutions for medications, ensuring safety and obedience to guidelines.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Food Packaging Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2019 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Food Packaging Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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