December 23, 2019
According to the latest study titled ‘Asia Pacific Food Packaging Market Size By Source (Virgin, Recycled), By Material (Glass, Metal, Plastic [Polypropylene (PP), Polyethylene, Polyethylene Terephthalate (PET), Polystyrene (PS), Polyamide 6 (PA6), Polyamide 6 copolymer (PA6 Copolymer), Ethylene vinyl acetate (EVA), Ethylene vinyl alcohol (EVOH)], Paper & Paperboard, Wood), By Product (Rigid Packaging [Oxygen Barrier, Moisture Barrier, Other Barrier, Non-Barrier], Flexible Packaging [Oxygen Barrier, Moisture Barrier, Other Barrier, Non-Barrier]), By Layer (Single Layer, Multi-Layer), By Visibility (Transparent, Opaque/Translucent), By Sterilization (High Temperature treatment, Low temperature treatment, Vacuum treatment, Non-sterilized treatment), By Technology (Retort Packaging, Aseptic Packaging, Active Packaging), Industry Analysis Report, Country Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’ available at MarketStudyReport.com, Asia Pacific food packaging market is projected to cross US $170 billion by the year 2025.
As the proportion of working population is increasing, more people are leading hectic lifestyle with less time for meal preparation. Shifting preference for convenience & packaged food, in tandem with rising penetration of e-commerce are the key drivers of Asia Pacific food packaging market. Higher disposable incomes are encouraging the consumers to order food online through e-commerce platforms. Moreover, these e-commerce platforms offer discounts, timely delivery, and wide range of food options. This factor, along with innovations in packaging material and technology will augment the market outlook.
However, stringent federal policies regarding food packaging, including consumer safety, food quality, and packaging material will act as restraint for APAC food packaging market. Customer reluctance towards plastic packaging, coupled with growing environment concerns, and shifting inclination for sustainable packaging solutions are reported impede the market growth in upcoming years.
As per source, recycled packaging segment is presumed to grow with a CAGR of 3.5% through the year 2025, owing to rising environmental awareness. Use of recycled materials reduce pollution, conserve resources, and are cost-effective.
Based on material, APAC glass food packaging market is estimated to cross US $7 billion by the year 2025. The material is widely used for manufacturing containers and bottles. It preserves the flavor, quality, and taste of food product, and can be recycled repeatedly.
Speaking of layering, single layer packaging segment is expected to register a growth rate of 3% over the analysis period. While on the basis of technology used, APAC food packaging market from aseptic segment is projected to hold one-tenth volume share by the year 2025, as it is extensively used for packaging of soup, milk, tomatoes, and others to preserve freshness.
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Considering regional landscape, China will dominate Asia Pacific food packaging market in the forthcoming years, on account of booming population, rising e-commerce, and surging consumer preference for packaged food, cites the report.
The prominent players functioning in APAC food packaging market include Tetra Pak, Sonoco Products Company, Plastipak Packaging, Inc., Constantia Flexibles, Stora Enso Oyj., Sealed Air Corp., Ball Corp., Berry Global Group, Inc., and Mondi Plc. among others.
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