The global food packaging market size was estimated at $303.26 billion in 2019, exhibiting a CAGR of 5.2% over the forecast period.
Growing demand for packaged food by consumers owing to a quickening pace of life and changing eating habits is expected to have a major impact on the market.
The product offers extended and stable shelf-life, high barrier properties, and safety, thereby boosting the market growth.
Factors such as convenience and use of high-performance material are expected to aid the industry growth. Improved shelf-life, coupled with heightened efficiency in the prevention of content contamination, is expected to boost the growth of the market.
In addition, factors such as increasing population, rising disposable income, and shrinking households have a positive impact on the market.