TBRC’s market research report covers snack food packaging market size, snack food packaging market forecasts, major snack food packaging companies and their market share, key strategies to undertake, and more.
LONDON, Oct. 03, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the snack food packaging market, the increase in consumption of ready-to-eat food will propel the growth of the snack food packaging market going forward. Ready-to-eat food is seen as the most convenient alternative to conventional food because it may be consumed at any moment. These ready-to-eat meals use snack food packaging and simply require a few minutes of heating before serving. For instance, according to Bizom, an India-based retail intelligence platform, the sales of ready-to-eat products surged by 9.1% in August 2021. Hence, the increasing consumption of ready-to-eat food will drive the snack food packaging industry.
The global snack food packaging market size is expected to grow from $23.70 billion in 2021 to $25.24 billion in 2022 at a compound annual growth rate (CAGR) of 6.5%. The global snack food packaging market share is expected to grow to $31.00 billion in 2026 at a CAGR of 5.3%.
Product innovations are the key trends gaining popularity in the snack food packaging market. The companies operating in the snack food packaging sector are focusing on developing recyclable packaging materials to address the environmental issues caused by other packaging. For instance, in May 2021, Amcor, a Switzerland-based packaging company, launched recycled food packaging for powdered chocolate in Colombia. The new packaging solution is designed to be recycled as per industry standards. The new solution reduces the package’s carbon footprint by 53% and water consumption by 84% when it is recycled.
Major players in the snack food packaging market are Swiss Pack Private Limited, Sealed Air Corporation, Sonoco Products, Graham Packaging Holdings, Bryce Corporation, ProAmpac Intermediate Inc., Modern-Pak Pte Ltd, Eagle Flexible Packaging Inc., Amcor, Bemis Company, Huhtamaki Global, Clondalkin Group, Berry Global Group Inc., Sonoco Products Co., Logos Packaging Holding Ltd, and Constantia Flexibles Group GmbH.
The global snack food packaging market segments are categorized by packaging type into flexible packaging, rigid packaging; by material into plastic, paper, metal, others; by application into bakery snacks, candy and confections, savory snacks, nuts and dried fruits, others.
Asia-Pacific was the largest region in the snack food packaging market in 2021. The regions covered in the global snack food packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Snack Food Packaging Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide snack food packaging market overviews, analyze and forecast market size and growth for the whole market, snack food packaging market segments and geographies, snack food packaging market trends, snack food packaging market drivers, restraints, snack food packaging market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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