Food Packaging Market Size to Reach USD 606.3 Billion by 2026
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The global Food Packaging Market size is set to touch USD 606.3 billion by 2026, exhibiting a CAGR of 5.6% during the forecast period. Rising demand and consumption of natural foodstuffs will be the prime factor driving the growth of this market in the approaching decade. Natural foods have a high comparative advantage over their processed counterparts. For instance, the Natural Institutes of Health recommend increasing the intake of eggs and liver as they are rich in choline, a substance vital for the healthy functioning of the brain. Further, fruits contain natural sugars that are essential for the body and do not put one at risk of diabetes and obesity, unlike artificial sugars contained in processed foods. Owing to these benefits, there is a growing inclination towards naturally available food items, which is being fueled even more by an increasingly sedentary lifestyle, high pollution levels, and lack of exercise.
As per the new Fortune Business Insights report™, titled "Food Packaging Market Size, Share & Industry Analysis, By Materials (Glass, Metal, Paper & Paperboard, Wood, and Plastics {Polypropylene, Polyethylene, PET, and Others}), By Product (Rigid, Semi-Rigid, and Flexible) By Application (Fruits & Vegetables, Bakery & Confectionery, Dairy Products, Meat, Poultry & Seafood, Sauces, Dressings and Condiments, and Others), and Regional Forecast, 2019-2026", the value of this market stood at USD 393.6 billion in 2018.
Active packaging has emerged as an innovative solution for improving efficiency of food packaging. This technique prolongs the shelf-life of foodstuffs whilst maintaining their quality, making it one of the leading Food Packaging Market trends during the forecast period. Active packaging systems involve two methods for preserving the quality of packaged food: active scavenging (absorption) and active releasing (emission) methods. The scavenging system allows for the elimination of unnecessary and undesirable compounds and elements from the packaged food item. The releasing system adds beneficial compounds such as antioxidants and carbon dioxide into the food item, maintaining its freshness. These advantages will bode well for the market, according to the Food Packaging Market research.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.fortunebusinessinsights.com/industry-reports/food-packaging-market-101941
