In the global snack food packaging market, developed countries of North America like U.S, accounts for largest market share which is attributed to the high consumption of consumers as well as stringent government regulations on the safety and the quality of the snack food products.
FMI research indicates snack food packaging solutions show great potential for not only durability but improving outcomes for buyers in different areas. Expected to be valued at US$ 17.2 Billion in 2022, the snack food packaging industry is expected to proliferate at a CAGR of 4.2% from 2022 to 2032. As per the report published by Future Market Insights, the market for snack food packaging is likely to reach a valuation of US$ 26 Billion by the end of the said period of assessment.
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Snack Food Packaging Market: Key Players
Some of the key players who are engaged in manufacturing snack food packaging are Sonoco Products, Sealed Air Corporation, Graham Packaging Holdings, Bemis Company, American Packaging, Bryce Corporation and many others, Swiss pack private limited and many more.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
Due to the growing emphasis on food safety and hygiene, manufacturers in the snack food packaging market are increasing the production capabilities of single-serve packaging solutions. The increasing disposable incomes have unwrapped tremendous opportunities for the ready to eat snack foods which in turn driven the growth for the global snack food packaging market.
Also, the manufacturer of snack food packaging has increased R&D to develop sustainable materials including paper and recycled plastic to address sustainability and the issue of growing plastic waste.
For instance, APC is a leader in the push toward sustainable packaging efforts, which can be seen in Nestlé Canada’s Smarties pouch’s shift from plastic to FDA-approved recyclable paper. This packaging transition was recognized with multiple industry awards, including two FPA Gold awards for Packaging Excellence and Technical Innovation, and a Silver award in the Sustainability category.
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Snack Food Packaging Market: Dynamics
The growing number of nuclear families coupled with increasing disposable incomes has unwrapped tremendous opportunities for the ready to eat snack foods which in turn driven the growth for the global snack food packaging market in the near future. The opportunity to indulge in exotic flavor options at reasonable prices, convenience and changing consumer lifestyle are the major factors that influence the growth of snack food packaging market.
The consumers crave for healthier snack food products and they are unwilling to sacrifice flavor as these are now trends in the overall snack food market. Furthermore, the trend of eating snacks in between meals has led to the tremendous demand for the global snack food packaging market.
Snack Food Packaging Market: Region wise Outlook
In geography, the global snack food packaging market is divided into majorly five regions such as North America, Latin America, Europe, Asia Pacific and Middle East & Africa. In the global snack food packaging market, developed countries of North America like U.S, accounts for largest market share which is attributed to the high consumption of consumers as well as stringent government regulations on the safety and the quality of the snack food products.
U.S is considered as a mature market for bakery and snack foods and is projected to grow with around 4% throughout 2016 to 2020 and Europe is considered to be the second largest market in the global snack food packaging market. However, outside of the U.S the opportunity to increase the sales of snack foods is also increasing as well.
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Snack Food Packaging Market: Segmentation
On the basis of material type, the global snack food packaging market is segmented into
- Plastic
- BOPP
- Polypropylene
- Polyethylene
- LLDPE
- Polyester
- Others
- Paper
- Metal
On the basis of packaging types, the global snack food packaging market is segmented into
- Flexible Packaging
- Rigid Packaging
- Others
On the basis of application, the global snack food packaging is segmented into,
- Bakery Snacks
- Candy & confections
- Savory Snacks
- Nuts & Dried Fruits
- Others
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