Asia Pacific Food Packaging Market Size

Asia Pacific Food Packaging Market Size

Asia Pacific Food Packaging Market size was valued at over USD 125 billion in 2018 and is estimated to exhibit over 4.5% CAGR from 2019 to 2025.

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The e-commerce platform in the food industry has gained a significant acceptance in the region. This is because, it not only provides a wide range of food products but also ensures timely delivery of these products with appropriate packaging. Therefore, with the rise of e-commerce, the demand for food packaging is likely to increase. This is because proper and advanced packaging not only maintains the quality of the product but also increases its shelf life. Moreover, it also allows manufacturers to maintain proper inventory with an adequate lead time for the next supply of perishable food products. In addition to this, the packaging also plays a vital role from the distributors’ side of the value chain by maintaining the quality of the manufactured food for a longer duration and better transportation. The packaging food industries comprise companies that pack food in different types of materials including paperboard, glass, plastic, wood, and aluminum canning for retail sales.

Food packing includes packaging of flavored snacks, confections such as candy & chocolate, bread & cakes, cereals & oatmeal, meat & seafood, fruits, vegetables, cheeses, and condiments; for instance, ketchup and this category also comprises ready-to-eat packaged meals. Thus, food packing has increased the demand for food through internet retail spending. The current social & economic trends for processed & packed food consumption have witnessed a sharp growth over the past few years. The consumption of packaged breakfast cereals and different meals has surged over the years, providing a humongous growth in the packaged food industry.

Sizable economies in the region including China, India, Japan, Australia, and South Korea have set several regulations in order to monitor the quality and safety of packed food products. Regulations in these countries mainly emphasize on food quality, safety, and packaging norms. Food safety law, regulation for food contact materials, and food sanitation law are among the most commonly followed food regulations across the region, ensuring food safety in order to protect the physical health and life safety of the public. Similarly, stringent regulations toward food packaging and food contact materials may restrict growth in the food packing market over the near term. For instance, Food Safety and Standards Authority of India (FSSAI) in January 2019, announced new regulations with respect to food packing, which stresses the importance of packaging materials used for packing food.