Retail value within the global food packaging market will reach US$2.5 trillion by 2017. This value will be spread over 1.7 trillion primary pack types, along with 200 billion outer packs, and over half a trillion closures.
According to a recently released report, 'Innovations in Food Packaging, 2013 - A Review of Recent Trends, Drivers and Issues in Global Food Packaging' found on companiesandmarkets.com flexible packaging accounts for over half of the volume share of the materials used for primary packaging in the global food packaging market. Meanwhile, Bags and Sachets represent by far the largest volume share of the primary food packaging market by type, taking over a third of the market in 2012.
Through to 2017, the packaging types forecast to show the fastest growth include the Sleeve, the Blister Pack, the Pouch, and the Carton.
Paper & Board boxes are the most commonly used form of retail outer packaging in the food packaging market, whilst the majority of closures used across the global packaged food market are plastic lidding films, plastic screw tops and plastic prize off lids.
Collectively, these accounted for over 72% of the market volume in 2012, their growth being a reflection of the rise in on-the-go consumption and products that help facilitate consumers' busy lives.
In the west food packaging has advanced to its limit to a point where any new technologies or developments come at great financial, research and design costs and the benefit of these discoveries on the already existing packaging are marginal at best. Focus in these mature markets has now drifted to branding and the development of new and more exotic food stuffs.
Whereas in the eastern markets it is a case of playing catch up in terms of technology and pushing out the reach of supply chains and logistic channels as the life of foods within packaging have met their limits and now infrastructure and logistics has to cover the gap to enable food to reach their end customers from the farm gate.
For more information on the global food packaging market, see the latest research: Global Food Packaging Market
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