PUNE, India, July 31, 2024 /PRNewswire/ -- Stellar Market
Research has published a report on the Snack Food Packaging
Market stating that the market size was USD
19.29 Bn in 2023 and is expected to grow at a CAGR of 4.5
percent through the forecast period, reaching USD 26.25 Bn by 2030. The increasing demand for
convenient, ready-to-eat snacks directly boosts the snack food
packaging market, as manufacturers seek innovative packaging
solutions to cater to consumer needs for portability, freshness,
and portion control. This trend drives the adoption of flexible and
sustainable packaging options, further expanding the market.
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Market Size in
2023
|
USD 19.29 Bn
|
Market Size in
2030
|
USD 26.25 Bn
|
CAGR
|
4.5 percent
(2024-2030)
|
Forecast
Period
|
2024-2030
|
Base
Year
|
2023
|
Number of
Pages
|
279
|
No. of
Tables
|
114
|
No. of Charts and
Figures
|
112
|
Segment
Covered
|
By Type, Material and
Application
|
Regional
Scope
|
North America, Europe,
Asia Pacific, Middle East and Africa, South America
|
Report
Coverage
|
Market Share, Size
& Forecast by Revenue | 2024−2030, Market Dynamics, Growth
Drivers, Restraints, Investment Opportunities, and Key Trends,
Competitive Landscape, Key Players Benchmarking, Competitive
Analysis, MMR Competition Matrix, Competitive Leadership Mapping,
Global Key Players' Market Ranking Analysis.
|
Get your Sample
PDF:https://www.stellarmr.com/report/req_sample/Snack-Food-Packaging-Market/2139
The snack food packaging market is experiencing growth due to
the increasing adoption of healthy lifestyles and the expansion of
stores in urban areas. Consumers are leaning towards health-focused
foods, with popular diets such as the Paleo, Ketogenic,
Gluten-Free, and High Fat/High Protein diets being influenced by
this trend. As a result, there is a growing demand for sustainable
packaging solutions as well as lightweight and flexible packaging.
However, the market is facing challenges due to the environmental
impact of plastic use and stringent government regulations. In
response, the industry is exploring new materials and packaging
technologies to enhance packaging lifespan, such as modified
packaging (MAP). Additionally, the adoption of digital printing in
flexible packaging presents significant opportunities. Digital
printing allows brands to quickly adapt to market needs by making
last-minute design changes, adding SKUs, or including promotions,
thereby increasing brand awareness and addressing environmental and
regulatory challenges while meeting the growing customer base's
demands and ensuring business continuity.
Competitive Landscape.
Bakery and snack food companies are at the forefront of
sustainable packaging efforts, addressing the significant issue of
plastic waste in the FMCG sector. In the UK, nearly 70% of plastic
waste originates from packaging, with global figures equally
concerning. These companies are exploring innovative solutions such
as food waste-free packaging and smart technologies to prolong
product shelf life. For instance, Coveris has introduced a
heat-in-the-pack, eat-in-the-pack solution, while Greiner
Packaging's K3 r100 format facilitates easy packaging recycling.
The industry is also witnessing an increase in environmentally
friendly products like biodegradable plastics and plant-based
packaging. However, the intricate nature of food packaging poses
challenges for full recyclability. Experts stress the importance of
a multidisciplinary approach to achieving truly sustainable
packaging solutions. With substantial market value at stake, there
is mounting pressure to adopt sustainable packaging practices,
driven by consumer demand and regulatory requirements.
FDA and EU Move to Ban PFAS: A Turning Point for Safe and
Sustainable Food Packaging in the Bakery and Snacks
Industries.
The FDA's decision to ban PFAS (perfluoroalkyl substances) in
food packaging, such as those used in microwave popcorn bags and
fast-food packaging, is a significant step forward in food safety.
PFAS, commonly known as forever chemicals are known for persisting
in the environment and in the human body and are associated with
serious health problems, including reproductive issues. This has
led to stricter regulations and increased scrutiny of PFAS not only
in the United States but
worldwide. The upcoming EU-wide ban on PFAS in food packaging in
Europe, set to take effect in
mid-2026, affirms the agency's commitment to eliminating these
harmful substances. The demand for new products containing PFAS is
increasing due to regulatory requirements and growing consumer
awareness. However, there are challenges in identifying safe and
effective alternatives, as many packaging manufacturers conceal the
use of these chemicals. Bakery and snack food companies face the
difficult task of balancing consumer expectations for safe
products. The transition away from PFAS presents challenges and
opportunities for innovation in sustainable packaging. As companies
adapt to these changes, they have the potential to become leaders
in environmentally friendly packaging without compromising
health.
Request for a Sample
Report:https://www.stellarmr.com/report/req_sample/Snack-Food-Packaging-Market/2139
Syntegon will showcase innovative packaging solutions at
PackEx India 2024.
At PackEx India 2024, Syntegon will showcase new packaging
products for bread and snacks. Highlights include the SVL 2310 Twin
for bagging low-density foods such as mashed potatoes and the Pack
301 LS with Smart Duplex Measuring Loader (SDML) for biscuit
packaging with high flow systems. Both emphasize gentle handling
and efficiency. The SVL 2310 Twin can package 105 items per minute,
while the Pack 301 LS can handle up to 250 packs per minute.
Furthermore, Syntegon will introduce the paper-ON-form retrofit
kit, allowing for the sustainable installation of paper products in
line with growing environmental concerns.
ePac Canada is changing the
game in snack food packaging with bespoke, eco-friendly
solutions.
ePac Flexible Packaging Canada specializes in creating packaging
solutions for a wide range of foods, including chips, cookies, and
trail mixes. They use high-quality digital printing to ensure that
products have a strong presence on the shelf. With the increasing
demand for confectionery, ePac offers flexible packaging options
such as stand-up and lay-flat pouches designed to meet customer
needs for convenience and durability. Features like re-closable
zippers, vibrant graphic designs, and the option of hanging holes
make the product practical and improve its presentation. ePac also
prioritizes sustainability by providing recyclable and compostable
packaging. Their eco-friendly printing and packaging materials help
manufacturing companies reduce waste and create new, great-tasting
products.
North America to Dominate
the Snack Food Packaging Market by 2030.
The global snack food packaging market, especially in the US, is
highly regulated due to strong consumer demand and rigorous safety
and quality standards. The US stands as a mature market for bakery
products and ranks as the second-largest snack market worldwide.
New growth opportunities are emerging in the Asia-Pacific region, particularly in
China, Japan, and India. While growth in Latin America, the Middle East, and Africa is expected to be slower, Brazil and Mexico offer significant opportunities for
food packaging companies such as Sonoco Products, Sealed Air
Corporation, Graham Packaging Holdings, Bemis Company, American
Packaging, Bryce Corporation, and Swiss Pack Pte.
The Asia-Pacific region is
currently observing a significant upsurge in demand attributed to
population expansion and escalating disposable income, notably in
China and India. Urbanization and amplified exports of
fruits and vegetables stand as prominent drivers of this growth. Of
particular note is the 51.6% increase in fruit and vegetable
imports within APAC, significantly surpassing the global growth
rate of 17.6% recorded last year. Additionally, there is a
discernible trend towards increased preference for packaged food
boxes in India, propelled by the
burgeoning online food ordering sector. Furthermore, a notable
shift towards healthier, superior-quality packaged foods and
sustainable packaging in North
America continues to propel revenue growth.
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About Stellar Market Research:
Stellar Market Research is a multifaceted market research and
consulting company with professionals from several industries. Some
industries we cover include medical devices, pharmaceutical
manufacturers, science and engineering, electronic components,
industrial equipment, technology and communication, cars and
automobiles, chemical products and substances, general merchandise,
beverages, personal care, and automated systems.
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