Regulatory Landscape and Standards for Rigid Food Packaging...

Regulatory Landscape and Standards for Rigid Food Packaging Industry.

Posted 2023-05-04 12:33:01

As per Future Market Insights, the global rigid food packaging market is anticipated to surpass US$ 317.7 billion in 2033 from US$ 197.5 billion yet to be recorded in 2023. The market is likely to witness considerable growth at 4.9% CAGR between 2023 and 2033.

The food service industry is considered to be one of the most prominent sectors across the globe in recent years. Consumers adapt to outside eating habits either by going out to restaurants and cafes or by ordering food from numerous digital platforms. These preferences have spurred the food service market exponentially.

Expansion of the market for online food delivery is expected to supplement the rigid food packaging market, as most rigid containers such as plastic and paper containers, are provided by restaurants. Several fast food chains are using rigid paper boxes for delivering food to their consumers.

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Key Takeaways from Rigid Food Packaging Market

Based on material, rigid food packaging made from bagasse material is expected to cover 4% of the global market share in 2022.
The cups & tubs segment by packaging type is anticipated to expand by 3% CAGR during the forecast period in the rigid food packaging market.
Based on application, the baby food category is estimated to grow 3 times the current rigid food packaging market value during the forecast period.
The U.S. rigid food packaging market is set to generate a share of around 7% in 2033.
India is projected to cover about 4% of the rigid food packaging market share throughout 2023.

Escalating Environmental Distress & Usage of Eco-friendly Material Prospering Growth Opportunity for Rigid Food Packaging Market

In the past few years, concerns over the environmental impact of materials used in food packaging industry have been significantly heightened in the global market. Numerous countries are implementing rules and regulations regarding non-degradable materials used on food packaging, causing increased pollution levels.

Necessary actions are being taken by governments to reduce pollution caused by non-decomposable materials such as plastic films and pouches. Few of the manufacturing companies and brands are working towards this initiative. These concerns can be addressed by the application of rigid containers made from bagasse, which is an eco-friendly and renewable resource made from plant fiber.

Ability of containers made from bio-waste to decompose and biodegrade is expected to fuel the rigid food packaging market. Grease-resistant, water-resistant, temperature- resistant, high strength, and insulating properties of rigid food packaging containers made from plant-based materials are expected to drive the global rigid food packaging market.

Competition Landscape: Rigid Food Packaging Market

Amcor plc, Greif Inc., Crown Holdings, Inc., Mauser Packaging Solutions, Berry Global Inc., Silgan Holdings Inc., Sonoco Products Company, Pactiv LLC, Printpack, ITC Packaging, DS Smith plc, WestRock Company, Sealed Air Corporation, Smurfit Kappa Group plc, Huhtamaki Oyj, Genpak, LLC, and Georgia-Pacific LLC among others are few of the key players spurring the global rigid food packaging market.

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Rigid Food Packaging Market Outlook by Category

By Material: