Global Sanitary Food & Beverage Packaging Market - 2021-2028
|出版日期||內容資訊||英文 180 Pages
|食品和飲料用衛生包裝的全球市場(2021年∼2028年) Global Sanitary Food & Beverage Packaging Market - 2021-2028|
|出版日期: 2021年08月12日||內容資訊: 英文 180 Pages||
Sanitary Food & Beverage Packaging Market Overview
The sanitary food & beverage packaging market size was worth US$ XX billion in 2020 and is estimated to reach US$ XX billion by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
The strict regulatory provisions built by competent regulatory bodies across all states and national and regional level initiatives to ensure good manufacturing practices provide substantial leverage to sanitary food & beverage packaging growth. Preference for paperboard packaging material is supposed to obtain center-stage due to its high affordability and flexibility.
The increasing number of packaged food & beverages applications in developing economies, shifting consumer demand with food-related hygiene, and increasing demand for sanitary cans for preserving nutritional value are expected to impact market growth. Moreover, rapid urbanization across the globe, increasing levels of disposable income of the people will likely boost the growth of the sanitary food & beverage market in the forecast period.
Sanitary Food & Beverage Packaging Market Dynamics
The global sanitary food & beverage packaging market growth is driven by rising demand for eco-friendly packaging solutions and rising demand for sanitary packaging.
Rising demand for eco-friendly packaging solutions
The growing emphasis for eco-friendly packaging is expected to drive the sanitary food & beverage packaging market in the forecast period. The rising concerns over the use of plastic and its environmental impacts have been trending in the food & beverages industry. Various initiatives have been taken on the global level by multinational food chains and governments to reduce the use of plastic for a sustainable future. The supply of sustainable recyclables has exponentially increased in recent years. Manufacturers are tapping into new materials with advancing innovations in the field.
For instance, in 2018- the German Federal Ministry of Food and Agriculture has published a call for projects on bio-based packaging. According to BMEL, bio-based materials make up less than 1% of the market for plastic food packaging. Thus, the call aims to promote new bio-based plastic packaging for food.
The trend of single-use foodservice packaging has emerged globally as it offers safety and hygiene. Recent scientific studies found that the danger of bacteria and micro-bacteria is much more in reusable packaging material than single-use materials. In the current situation, restaurants or foodservice are operating through takeout and delivery containers only. Such instances have boosted the market demand for sanitary food & beverage packaging.
Environmental impacts from the material
The sanitary food & beverage packaging market is impacted by the environmental impacts of the material. Most of the materials used to manufacture sanitary food & beverage packagings are not recyclable and are liable to cause serious environmental damage. With rising concerns for the use of plastic, the sanitary food & beverage packagings market will also be affected.
Moreover, several small companies are still unable to afford the use of sanitary packaging due to its high cost. Hence, the market growth is likely to remain restricted to large-scale multinational corporations. Expenditure on sanitary packaging solutions involves purchasing lightweight, flexible material and integration of the supply chain of the market, which is a costly process.
COVID-19 Impact Analysis
Due to the pandemic, stakeholders across the sanitary food & beverage packaging industry have seen a notable impact as all the production work, factories and other activities were closed. As a result, production was hindered by halts and supply chain disruption globally. After the pandemic, the governments still imposed various restrictions, such as working with half the workforce and fewer operating hours hindering the production cycle of the market.
On the other hand, demand for sanitary food & beverage packaging has seen a positive demand during the outbreak. The regions have witnessed a sharp rise in the adoption of suitable packaging products with increasing concerns for sanitary and hygiene.
Sanitary Food & Beverage Packaging Market Segment Analysis
By packaging type, the sanitary food & beverage packaging market is classified into plastic paperboard, glass, metal and others.
The plastic sanitary food & beverage packaging market is expected to grow at the fastest CAGR during the forecast period (2021-2028)
Plastics are expected to hold the largest sanitary food & beverage packaging market in the forecast period. Plastics are the most popular and most wide-ranging material used for food packaging. Plastic packaging has widespread uses, including trays, bottles, foils, pouches, and bowls. The quantity of plastic allocated to food packaging amounts to approximately 40% of plastics. The availability and widespread use of plastic in food packaging are due to its low cost, ease of processability, chemical resistance, formability, lightweight, and various physical properties. The use of plastic continues to rise compared to conventional materials because of its ease of fabrication into countless shapes and sizes.
Companies are focusing on more sustainable plastic packaging that will positively impact market growth. For instance, Nestle has intensified its actions to ensure 100% of its packaging is recyclable by 2025 and to reduce its virgin plastics utilization by one-third in the same period. The company has also announced initiatives that include a US$ 30 million investment to increase recycled plastics.
Sanitary Food & Beverage Packaging Market Geographical Analysis
North America region holds the largest market for the global sanitary food & beverage packaging globally
North America region holds the largest market share for the sanitary food & beverage packaging market globally and is expected to continue its dominance in the forecast period. The ongoing regulations associated with the use of food service packaging in the region will be a major factor in boosting market demand. For instance, the US Food & Drug Administration plays a necessary role in securing the availability of safe and good quality food & beverage products across the region.
The FDA is responsible for oversight of more than US$ 2.5 trillion in consumer food, medical and tobacco business. Additionally, the Food Safety and Inspection Service also plays an essential role. The company's focus on incorporating sustainable packaging material, mostly paperboard and other eco-friendly substances, including high-grade plastics, in manufacturing their products.
Sanitary Food & Beverage Packaging Competitive Landscape
The sanitary food & beverage packaging market is highly competitive with the local player's presence, followed by the global companies, contributing to the major share in the market growth. In addition, some of the key players contributing to the market's growth are Crown Holdings Inc., FP Corporation, Karatzis SA, Ball Corporation, Canfab Packaging Inc., Silgan Containers, Chuo Kagaku Co. Ltd., Plaspack, Kaira Can Company Limited, Berlin Packaging LLC and others. The major players are adopting various new strategies to dominate the market, such as launching new products, acquisitions, and collaborations, contributing to the global growth of the sanitary food & beverage packaging market.
Crown Holdings Inc
Overview: Crown Holdings Inc is a leading supplier of beverage packaging, food packaging, metal closures, and specialty packaging products. The company has operations in over 47 countries with 33,000 employees and net sales of $11.6 billion. The company has quality and manufacturing to growing economies in Eastern Europe, South America, Asia, and the Middle East and North Africa.
Product Portfolio: The Company manufactures various types of beverage packaging, food cans, promotional packaging, transit packaging, aerosol packaging and others.
Key Development: In 2021, Sustainalytics has ranked Crown Holdings Inc the first place in the Metal and Glass Packaging Sector For minimizing ESG Risk.
The global sanitary food & beverage packaging market report would provide access to an approx: 54 market data tables, 46 figures and 240 pages.
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