Snack Food Packaging Market is projected to reach USD 26.25 billion, with the North American region expected to capture the largest share, according to Stellar Market Research

PUNE, India, July 31, 2024 /PRNewswire/ -- Stellar Market Research has published a report on the Snack Food Packaging Market stating that the market size was USD 19.29 Bn in 2023 and is expected to grow at a CAGR of 4.5 percent through the forecast period, reaching USD 26.25 Bn by 2030. The increasing demand for convenient, ready-to-eat snacks directly boosts the snack food packaging market, as manufacturers seek innovative packaging solutions to cater to consumer needs for portability, freshness, and portion control. This trend drives the adoption of flexible and sustainable packaging options, further expanding the market.

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The snack food packaging market is experiencing growth due to the increasing adoption of healthy lifestyles and the expansion of stores in urban areas. Consumers are leaning towards health-focused foods, with popular diets such as the Paleo, Ketogenic, Gluten-Free, and High Fat/High Protein diets being influenced by this trend. As a result, there is a growing demand for sustainable packaging solutions as well as lightweight and flexible packaging. However, the market is facing challenges due to the environmental impact of plastic use and stringent government regulations. In response, the industry is exploring new materials and packaging technologies to enhance packaging lifespan, such as modified packaging (MAP). Additionally, the adoption of digital printing in flexible packaging presents significant opportunities. Digital printing allows brands to quickly adapt to market needs by making last-minute design changes, adding SKUs, or including promotions, thereby increasing brand awareness and addressing environmental and regulatory challenges while meeting the growing customer base's demands and ensuring business continuity.

Competitive Landscape.

Bakery and snack food companies are at the forefront of sustainable packaging efforts, addressing the significant issue of plastic waste in the FMCG sector. In the UK, nearly 70% of plastic waste originates from packaging, with global figures equally concerning. These companies are exploring innovative solutions such as food waste-free packaging and smart technologies to prolong product shelf life. For instance, Coveris has introduced a heat-in-the-pack, eat-in-the-pack solution, while Greiner Packaging's K3 r100 format facilitates easy packaging recycling. The industry is also witnessing an increase in environmentally friendly products like biodegradable plastics and plant-based packaging. However, the intricate nature of food packaging poses challenges for full recyclability. Experts stress the importance of a multidisciplinary approach to achieving truly sustainable packaging solutions. With substantial market value at stake, there is mounting pressure to adopt sustainable packaging practices, driven by consumer demand and regulatory requirements.

FDA and EU Move to Ban PFAS: A Turning Point for Safe and Sustainable Food Packaging in the Bakery and Snacks Industries.

The FDA's decision to ban PFAS (perfluoroalkyl substances) in food packaging, such as those used in microwave popcorn bags and fast-food packaging, is a significant step forward in food safety. PFAS, commonly known as forever chemicals are known for persisting in the environment and in the human body and are associated with serious health problems, including reproductive issues. This has led to stricter regulations and increased scrutiny of PFAS not only in the United States but worldwide. The upcoming EU-wide ban on PFAS in food packaging in Europe, set to take effect in mid-2026, affirms the agency's commitment to eliminating these harmful substances. The demand for new products containing PFAS is increasing due to regulatory requirements and growing consumer awareness. However, there are challenges in identifying safe and effective alternatives, as many packaging manufacturers conceal the use of these chemicals. Bakery and snack food companies face the difficult task of balancing consumer expectations for safe products. The transition away from PFAS presents challenges and opportunities for innovation in sustainable packaging. As companies adapt to these changes, they have the potential to become leaders in environmentally friendly packaging without compromising health.

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Syntegon will showcase innovative packaging solutions at PackEx India 2024.

At PackEx India 2024, Syntegon will showcase new packaging products for bread and snacks. Highlights include the SVL 2310 Twin for bagging low-density foods such as mashed potatoes and the Pack 301 LS with Smart Duplex Measuring Loader (SDML) for biscuit packaging with high flow systems. Both emphasize gentle handling and efficiency. The SVL 2310 Twin can package 105 items per minute, while the Pack 301 LS can handle up to 250 packs per minute. Furthermore, Syntegon will introduce the paper-ON-form retrofit kit, allowing for the sustainable installation of paper products in line with growing environmental concerns.

ePac Canada is changing the game in snack food packaging with bespoke, eco-friendly solutions.

ePac Flexible Packaging Canada specializes in creating packaging solutions for a wide range of foods, including chips, cookies, and trail mixes. They use high-quality digital printing to ensure that products have a strong presence on the shelf. With the increasing demand for confectionery, ePac offers flexible packaging options such as stand-up and lay-flat pouches designed to meet customer needs for convenience and durability. Features like re-closable zippers, vibrant graphic designs, and the option of hanging holes make the product practical and improve its presentation. ePac also prioritizes sustainability by providing recyclable and compostable packaging. Their eco-friendly printing and packaging materials help manufacturing companies reduce waste and create new, great-tasting products.

North America to Dominate the Snack Food Packaging Market by 2030.

The global snack food packaging market, especially in the US, is highly regulated due to strong consumer demand and rigorous safety and quality standards. The US stands as a mature market for bakery products and ranks as the second-largest snack market worldwide. New growth opportunities are emerging in the Asia-Pacific region, particularly in China, Japan, and India. While growth in Latin America, the Middle East, and Africa is expected to be slower, Brazil and Mexico offer significant opportunities for food packaging companies such as Sonoco Products, Sealed Air Corporation, Graham Packaging Holdings, Bemis Company, American Packaging, Bryce Corporation, and Swiss Pack Pte.

The Asia-Pacific region is currently observing a significant upsurge in demand attributed to population expansion and escalating disposable income, notably in China and India. Urbanization and amplified exports of fruits and vegetables stand as prominent drivers of this growth. Of particular note is the 51.6% increase in fruit and vegetable imports within APAC, significantly surpassing the global growth rate of 17.6% recorded last year. Additionally, there is a discernible trend towards increased preference for packaged food boxes in India, propelled by the burgeoning online food ordering sector. Furthermore, a notable shift towards healthier, superior-quality packaged foods and sustainable packaging in North America continues to propel revenue growth.

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About Stellar Market Research:

Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems.

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