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Asia Pacific Food Packaging Market
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Asia Pacific Food Packaging Market

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Asia Pacific Food Packaging Market, By Type (Rigid, Semi-rigid, Flexible); By Material (Paper & Paper-based Material, Plastics, Metal, Glass); By Application (Bakery & Confectionary, Dairy Products, Fruits & Vegetables, Meat, Poultry, & Seafood, Sauces & Dressings); By Country (China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Vietnam, Rest of APAC), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: January 2024
  • Report ID: BWC24019
  • Available Format: PDF
  • Page: 328

Report Overview

A spurring demand for convenience packaging from expanding e-commerce and online food delivery companies are expected to drive the Asia Pacific Food Packaging Market during the forecast period between 2024 and 2030.

Asia Pacific Food Packaging Market – Industry Trends & Forecast Report, 2030

The Asia Pacific Food Packaging Market size was estimated at USD 74.91 billion in 2023. During the forecast period between 2024 and 2030, the Asia Pacific Food Packaging Market size is projected to grow at a CAGR of 4.33% reaching a value of USD 96.6 billion by 2030. The Asia Pacific Food Packaging Market is propelled by the rising disposable income of consumers, leading to an improved standard of living. Increasing exports of fruits and vegetables from the region are expected to contribute significantly to the expansion of food packaging market.  There has been a global upswing in imports of fruits and vegetables, registering a 17.6% increase worldwide, while the Asia Pacific region has witnessed a notable 51.6% surge in imports of these products. In major APAC countries like India, the surge in demand for online food ordering, exemplified by the substantial growth of prominent delivery companies like Zomato, has propelled the use of packaged food boxes in the food packaging market. Lifestyle changes, evolving food preferences, and population growth in developing nations are additional factors expected to drive market growth. The preference for processed food due to a growing working population, higher disposable incomes, and busy lifestyles, coupled with population shifts from rural to urban areas, further fuels the demand for food packaging. The industry is also witnessing advancements in packaging technologies, such as active packaging, intelligent packaging, and engineering science, facilitating the flexible packaging of food products. Moreover, companies are increasingly adopting eco-friendly practices by utilizing biodegradable packaging materials that can be recycled, renewed, and reused. As a result, such aspects are expected to boost the expansion of the Asia Pacific Food Packaging Market during the forecast period.

Asia Pacific Food Packaging Market

Food Packaging – Overview

Food packaging is the process of safeguarding food from damage, contamination, and spoilage during transportation, storage, and retail sales. Flexible materials, such as foil, plastic, and paper, are used to create various packaging forms including pouches, bags, bottles, cans, cartons, and trays. This packaging practice is crucial for preserving taste and quality of the food products during storage and delivery. Food packaging helps in the prevention of moisture, pollutants, spills, and tampering, ensuring the integrity of the contents. It also serves as a platform for conveying essential information like nutritional content and expiration dates. The food packaging market, comprising dairy, convenience foods, confectionery, bakery, vegetables, fruits, meat, and sauces, is a vital sector within the packaging industry. As the demand for packaged food products grows, the packaging industry is adapting to environmentally friendly practices to meet consumer and regulatory expectations. It, in turn, is expected to drive the food packaging market during the forecast period.

Asia Pacific Food Packaging Market

Growth Drivers

Rising Demand for Convenience Packaging

The Asia Pacific Food Packaging Market is markedly influenced by shifts in consumer lifestyles, characterized by increased busyness and a growing preference for on-the-go consumption. Consumers are actively seeking packaging solutions that align with their convenience-centric choices. This demand has led to the introduction of packaging formats like single-serve portions, resealable pouches, and containers safe for microwave use. These innovations address the need for swift and effortless consumption, minimizing the time and effort involved in food preparation. Consequently, manufacturers in the packaging industry are consistently engaging in innovations to develop packaging designs that streamline handling and storage, thereby augmenting overall convenience for consumers.

Challenges

Rising Costs of Raw Materials

Growth in the profit margin of companies in the Asia Pacific Food Packaging Market faces challenges, due to the escalating costs of raw materials. The upward trend in raw material expenses poses significant challenges on the market growth, impacting production costs and potentially leading to increased prices for end products. Manufacturers in the region may grapple with the need to balance quality and cost-effectiveness amid these rising raw material costs, thereby influencing the overall growth trajectory of the Food Packaging Market in the Asia Pacific region.

Impact of COVID-19 on Asia Pacific Food Packaging Market

COVID-19 pandemic had a dual impact on the Asia Pacific Food Packaging Market. The imposition of curfew-like situations, where operational activities were severely restricted, contributed to the impact. The pandemic shed light on the significance of fresh food packaging, particularly for safety reasons, as packaging proves crucial in safeguarding food from air, moisture, temperature variations, and various micro-organisms. Recognizing COVID-19 as a communicable disease, spreading from person to person according to the World Health Organization (WHO) and other international health and food safety authorities, underscores the importance of safe food handling. While food demand tends to be relatively stable, overall consumption is constrained, highlighting the pivotal role of packaging in ensuring food safety. The collective effect of these factors underscored the critical role of the fresh food packaging market amid the COVID-19 pandemic. However, post-pandemic, the focus on food safety, extended shelf life, and convenience is expected to drive the growth of the food packaging market during the forecast period.

Asia Pacific Food Packaging Market

Segmental Coverage

Asia Pacific Food Packaging Market – By Type

Based on type, Asia Pacific Food Packaging Market is divided into Rigid, Semi-rigid, and Flexible segments. The flexible segment holds the highest share in the Asia Pacific Food Packaging Market by type. The flexible packaging sector in India is expanding, primarily propelled by the thriving food and pharmaceutical industries, driven by a growing middle class and expanding organized retail sector. The surge aligns with increased export demands, emphasizing elevated packaging standards globally. Flexible plastic packaging dominates due to its aesthetic appeal, cost-effectiveness, and durability. The industry shift from rigid to flexible packaging is driven by consumer preferences for convenient, reasonably portioned laminates. Over 60% of flexible packaging is utilized in India's food sector, with innovations like formable paper gaining traction for sustainability, using up to 80% less plastic. It, in turn, aligns with global trends toward food packaging with sustainable materials.

Asia Pacific Food Packaging Market – By Material

On the basis of material, the Asia Pacific Food Packaging Market is divided into Paper & Paper-based Material, Plastics, Metal, and Glass segments. The plastics segment holds the highest share in the Asia Pacific Food Packaging Market by material, due to its versatility, cost-effectiveness, and adaptability to various packaging requirements. Plastic offers lightweight, durable, and flexible packaging solutions, making it ideal for diverse applications in the food industry. Additionally, plastics provide excellent barrier properties, protecting food from external factors like moisture and contaminants. The ease of customization, efficient manufacturing processes, and suitability for modern packaging formats contribute to the widespread adoption of plastics in the food packaging sector, resulting in its highest share in the market by material.

Asia Pacific Food Packaging Market – By Application

Based on application, the Asia Pacific Food Packaging Market is divided into Bakery & Confectionary, Dairy Products, Fruits & Vegetables, Meat, Poultry, & Seafood, and Sauces & Dressings segments. The bakery & confectionary segment holds the highest share in the Asia Pacific Food Packaging Market by application, due to the universal appeal and consistent demand for baked goods and sweets across diverse cultures. The segment relies heavily on effective packaging to preserve freshness, maintain product quality, and enhance visual appeal, contributing to its dominant market position.

Asia Pacific Food Packaging Market – By Country

The in-depth research report on the Asia Pacific Food Packaging Market covers the market in the region’s major countries, including China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Vietnam, and Rest of APAC. India is expected to dominate the Asia Pacific Food Packaging Market during the forecast period. It is primarily driven by rising per capita income, increased health consciousness, and evolving lifestyle trends. The food packaging market in India benefits from abundant raw material supplies for plastic, metal, and paper packaging. Hence, India is expected to emerge as a preferred hub for the packaging industry. Government regulations, coupled with an increasing demand for convenient packaging, particularly in the form of flexible packaging, further contribute to the market growth. The international trade in packaging material and machinery has expanded, facilitated by global trade growth and India's WTO commitment to tariff rationalization. Also, the market is witnessing a rise in small pack sizes, including "Tabekiri" packets, meeting the preferences of single-person households.

Competitive Landscape

Major players operating in Asia Pacific Food Packaging Market include Amcor plc, Sealed Air, Sonoco Products Company, Berry Global, Inc., WestRock Company, Mondi, Genpak LLC, and Pactiv LLC. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

  • In January  2023 - Nestle announced its continuous commitment to reducing plastic usage and enhancing sustainability, focusing on the Asia Pacific (APAC) region. While previous efforts were primarily directed at colder climates, the tropical conditions in APAC posed a challenge. Nestle initiated a pilot in Australia, introducing recyclable paper packaging for KitKat four-finger 45g packs. The trial, conducted exclusively with Coles supermarkets, seeks public feedback to refine the packaging. Despite incorporating a thin metal barrier film for chocolate freshness, the company believes that the initiative marks a significant step in its goal of making 95% to 100% of its packaging recyclable and reducing virgin plastic use by 2025.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2030

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

Revenue in USD billion

Market Coverage

China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Vietnam, Rest of APAC

Product/ Service Segmentation

Type, Material, Application, Region

Key Players

Amcor plc, Sealed Air, Sonoco Products Company, Berry Global, Inc., WestRock Company, Mondi, Genpak LLC, Pactiv LLC

 

By Type

  • Rigid

  • Semi-rigid

  • Flexible

By Material

  • Paper & Paper-based Material

  • Plastics

  • Metal

  • Glass

By Application

  • Bakery & Confectionary

  • Dairy Products

  • Fruits & Vegetables

  • Meat, Poultry, & Seafood

  • Sauces & Dressings

By Country

  • China

  • India

  • Japan

  • South Korea

  • Australia & New Zealand

  • Indonesia

  • Malaysia

  • Singapore

  • Vietnam

  • Rest of APAC

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. APAC Food Packaging Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Rising demand for convenience packaging
        2. Growing e-commerce and online food delivery
      2. Restraints
        1. Rising costs of raw materials
      3.  Opportunities
        1. Increasing focus on food safety and shelf life
      4. Challenge
        1. Stringent regulatory environment
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. Asia Pacific Food Packaging Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
        1. Rigid
        2. Semi-rigid
        3. Flexible
      2. By Material
        1. Paper & Paper-based Material
        2. Plastics
        3. Metal
        4. Glass
        5. Others
      3. By Application
        1. Bakery & Confectionary
        2. Dairy Products
        3. Fruits & Vegetables
        4. Meat, Poultry, & Seafood
        5. Sauces & Dressings
        6. Others
      4. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Australia & New Zealand
        6. Indonesia
        7. Malaysia
        8. Singapore
        9. Vietnam
        10. Rest of APAC
  5. China Food Packaging Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Material
      3. By Application
  6. India Food Packaging Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Material
      3. By Application
  7. Japan Food Packaging Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Material
      3. By Application
  8. South Korea Food Packaging Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Material
      3. By Application
  9. Australia & New Zealand Food Packaging Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Material
      3. By Application
  10. Indonesia Food Packaging Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Material
      3. By Application
  11. Malaysia Food Packaging Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Material
      3. By Application
  12. Singapore Food Packaging Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Material
      3. By Application
  13. Vietnam Food Packaging Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Material
      3. By Application
  14. Rest of APAC Food Packaging Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Material
      3. By Application
  15. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Asia Pacific Food Packaging Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  16. Impact of Covid-19 on Asia Pacific Food Packaging Market
  17. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Amcor plc
    2. Sealed Air
    3. Sonoco Products Company
    4. Berry Global, Inc.
    5. WestRock Company
    6. Mondi
    7. Genpak LLC
    8. Pactiv LLC
    9. Other Prominent Players
  18. Key Strategic Recommendations
  19. Research Methodology
    1.    Qualitative Research
      1.  Primary & Secondary Research
    2.    Quantitative Research
    3.    Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.    Breakdown of Primary Research Respondents, By Region
    5.    Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

 

List of Figures

 

Figure 1       Asia Pacific Food Packaging Segmentation             

Figure 2       Asia Pacific Food Packaging Market Value Chain Analysis           

Figure 3       Company Market Share Analysis, 2023         

Figure 4       Asia Pacific Food Packaging Market Size, By Value (USD Billion), 2019–2030           

Figure 5       Asia Pacific Food Packaging Market Share, By Type, By Value, 2019–2030               

Figure 6       Asia Pacific Food Packaging Market Share, By Material, By Value, 2019–2030          

Figure 7       Asia Pacific Food Packaging Market Share, By Application, By Value, 2019–2030                  

Figure 8       Asia Pacific Food Packaging Market Share, By Country, By Value, 2019–2030          

Figure 9       China Food Packaging Market Size, By Value (USD Billion), 2019–2030         

Figure 10     China Food Packaging Market Share, By Type, By Value, 2019–2030             

Figure 11     China Food Packaging Market Share, By Material, By Value, 2019–2030                  

Figure 12     China Food Packaging Market Share, By Application, By Value, 2019–2030              

Figure 13     India Food Packaging Market Size, By Value (USD Billion), 2019–2030          

Figure 14     India Food Packaging Market Share, By Type, By Value, 2019–2030             

Figure 15     India Food Packaging Market Share, By Material, By Value, 2019–2030         

Figure 16     India Food Packaging Market Share, By Application, By Value, 2019–2030              

Figure 17     Japan Food Packaging Market Size, By Value (USD Billion), 2019–2030         

Figure 18     Japan Food Packaging Market Share, By Type, By Value, 2019–2030            

Figure 19     Japan Food Packaging Market Share, By Material, By Value, 2019–2030                  

Figure 20     Japan Food Packaging Market Share, By Application, By Value, 2019–2030             

Figure 21     South Korea Food Packaging Market Size, By Value (USD Billion), 2019–2030          

Figure 22     South Korea Food Packaging Market Share, By Type, By Value, 2019–2030             

Figure 23     South Korea Food Packaging Market Share, By Material, By Value, 2019–2030                  

Figure 24     South Korea Food Packaging Market Share, By Application, By Value, 2019–2030                  

Figure 25     Australia & New Zealand Food Packaging Market Size, By Value (USD Billion), 2019–2030          

Figure 26     Australia & New Zealand Food Packaging Market Share, By Type, By Value, 2019–2030          

Figure 27     Australia & New Zealand Food Packaging Market Share, By Material, By Value, 2019–2030          

Figure 28     Australia & New Zealand Food Packaging Market Share, By Application, By Value, 2019–2030          

Figure 29     Indonesia Food Packaging Market Size, By Value (USD Billion), 2019–2030             

Figure 30     Indonesia Food Packaging Market Share, By Type, By Value, 2019–2030                 

Figure 31     Indonesia Food Packaging Market Share, By Material, By Value, 2019–2030            

Figure 32     Indonesia Food Packaging Market Share, By Application, By Value, 2019–2030                  

Figure 33     Malaysia Food Packaging Market Size, By Value (USD Billion), 2019–2030               

Figure 34     Malaysia Food Packaging Market Share, By Type, By Value, 2019–2030         

Figure 35     Malaysia Food Packaging Market Share, By Material, By Value, 2019–2030              

Figure 36     Malaysia Food Packaging Market Share, By Application, By Value, 2019–2030          

Figure 37     Singapore Food Packaging Market Size, By Value (USD Billion), 2019–2030             

Figure 38     Singapore Food Packaging Market Share, By Type, By Value, 2019–2030                

Figure 39     Singapore Food Packaging Market Share, By Material, By Value, 2019–2030           

Figure 40     Singapore Food Packaging Market Share, By Application, By Value, 2019–2030                  

Figure 41     Vietnam Food Packaging Market Size, By Value (USD Billion), 2019–2030               

Figure 42     Vietnam Food Packaging Market Share, By Type, By Value, 2019–2030         

Figure 43     Vietnam Food Packaging Market Share, By Material, By Value, 2019–2030              

Figure 44     Vietnam Food Packaging Market Share, By Application, By Value, 2019–2030          

Figure 45     Rest of APAC Food Packaging Market Size, By Value (USD Billion), 2019–2030                  

Figure 46     Rest of APAC Food Packaging Market Share, By Type, By Value, 2019–2030            

Figure 47     Rest of APAC Food Packaging Market Share, By Material, By Value, 2019–2030                  

Figure 48     Rest of APAC Food Packaging Market Share, By Application, By Value, 2019–2030                  

 

List of Tables

 

Table 1        Asia Pacific Food Packaging Market Size, By Value (USD Billion), 2019–2030 

Table 2        Asia Pacific Food Packaging Market Size, By Type, By Value, 2019–2030       

Table 3        Asia Pacific Food Packaging Market Size, By Material, By Value, 2019–2030  

Table 4        Asia Pacific Food Packaging Market Size, By Application, By Value, 2019–2030         

Table 5        Asia Pacific Food Packaging Market Size, By Country, By Value, 2019–2030   

Table 6        China Food Packaging Market Size, By Value (USD Billion), 2019–2030

Table 7        China Food Packaging Market Size, By Type, By Value, 2019–2030      

Table 8        China Food Packaging Market Size, By Material, By Value, 2019–2030 

Table 9        China Food Packaging Market Size, By Application, By Value, 2019–2030      

Table 10      India Food Packaging Market Size, By Value (USD Billion), 2019–2030

Table 11      India Food Packaging Market Size, By Type, By Value, 2019–2030      

Table 12      India Food Packaging Market Size, By Material, By Value, 2019–2030  

Table 13      India Food Packaging Market Size, By Application, By Value, 2019–2030       

Table 14      Japan Food Packaging Market Size, By Value (USD Billion), 2019–2030

Table 15      Japan Food Packaging Market Size, By Type, By Value, 2019–2030     

Table 16      Japan Food Packaging Market Size, By Material, By Value, 2019–2030 

Table 17      Japan Food Packaging Market Size, By Application, By Value, 2019–2030      

Table 18      South Korea Food Packaging Market Size, By Value (USD Billion), 2019–2030

Table 19      South Korea Food Packaging Market Size, By Type, By Value, 2019–2030     

Table 20      South Korea Food Packaging Market Size, By Material, By Value, 2019–2030 

Table 21      South Korea Food Packaging Market Size, By Application, By Value, 2019–2030         

Table 22      Australia & New Zealand Food Packaging Market Size, By Value (USD Billion), 2019–2030 

Table 23      Australia & New Zealand Food Packaging Market Size, By Type, By Value, 2019–2030 

Table 24      Australia & New Zealand Food Packaging Market Size, By Material, By Value, 2019–2030 

Table 25      Australia & New Zealand Food Packaging Market Size, By Application, By Value, 2019–2030 

Table 26      Indonesia Food Packaging Market Size, By Value (USD Billion), 2019–2030   

Table 27      Indonesia Food Packaging Market Size, By Type, By Value, 2019–2030

Table 28      Indonesia Food Packaging Market Size, By Material, By Value, 2019–2030    

Table 29      Indonesia Food Packaging Market Size, By Application, By Value, 2019–2030

Table 30      Malaysia Food Packaging Market Size, By Value (USD Billion), 2019–2030     

Table 31      Malaysia Food Packaging Market Size, By Type, By Value, 2019–2030 

Table 32      Malaysia Food Packaging Market Size, By Material, By Value, 2019–2030      

Table 33      Malaysia Food Packaging Market Size, By Application, By Value, 2019–2030  

Table 34      Singapore Food Packaging Market Size, By Value (USD Billion), 2019–2030   

Table 35      Singapore Food Packaging Market Size, By Type, By Value, 2019–2030

Table 36      Singapore Food Packaging Market Size, By Material, By Value, 2019–2030    

Table 37      Singapore Food Packaging Market Size, By Application, By Value, 2019–2030

Table 38      Vietnam Food Packaging Market Size, By Value (USD Billion), 2019–2030     

Table 39      Vietnam Food Packaging Market Size, By Type, By Value, 2019–2030  

Table 40      Vietnam Food Packaging Market Size, By Material, By Value, 2019–2030       

Table 41      Vietnam Food Packaging Market Size, By Application, By Value, 2019–2030  

Table 42      Rest of APAC Food Packaging Market Size, By Value (USD Billion), 2019–2030         

Table 43      Rest of APAC Food Packaging Market Size, By Type, By Value, 2019–2030    

Table 44      Rest of APAC Food Packaging Market Size, By Material, By Value, 2019–2030

Table 45      Rest of APAC Food Packaging Market Size, By Application, By Value, 2019–2030         

Table 46      Amcor plc Company Overview

Table 47      Amcor plc Financial Overview

Table 48      Sealed Air Company Overview

Table 49      Sealed Air Financial Overview

Table 50      Sonoco Products Company Overview

Table 51      Sonoco Products Company Financial Overview

Table 52      Berry Global, Inc. Company Overview

Table 53      Berry Global, Inc. Financial Overview

Table 54      WestRock Company Overview

Table 55      WestRock Company Financial Overview

Table 56      Mondi Company Overview

Table 57      Mondi Financial Overview

Table 58      Genpak LLC Company Overview

Table 59      Genpak LLC Financial Overview

Table 60      Pactiv LLC Company Overview

Table 61      Pactiv LLC Financial Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: Asia Pacific Food Packaging Market size was estimated at USD 74.91 billion in 2023.
Ans: Asia Pacific Food Packaging Market is expected to grow at a CAGR of 4.33% during the forecast period between 2024 and 2030.
Ans: Asia Pacific Food Packaging Market size is forecast to reach a value of USD 96.6 billion by 2030.
Ans: The growth of the Asia Pacific Food Packaging Market is primarily driven by the rising demand for convenience packaging and growing e-commerce and online food delivery.
Ans: India is expected to grow at the fastest CAGR in the Asia Pacific Food Packaging Market during the forecast period between 2024 and 2030.
Ans: The bakery & confectionary segment is expected to grow at the highest CAGR in the Asia Pacific Food Packaging Market during the forecast period between 2024 and 2030.
Ans: The plastics segment holds a major share in the Asia Pacific Food Packaging Market by material.
Ans: Key players in Asia Pacific Food Packaging Market include Amcor plc, Sealed Air, Sonoco Products Company, Berry Global, Inc., WestRock Company, Mondi, Genpak LLC, and Pactiv LLC.