The European food packaging market is projected to grow at a CAGR of 6.2% during the forecast period. The key factors that drive the growth of the market include the increased use of plastics in the packaging sector. According to the PlasticEurope, in 2018, the packaging segment accounted for approximately 40% share of the overall plastics market in Europe. However, there has been an increased amount of plastic waste for recycling has been generated due to the overuse of plastics. Nevertheless, several players are engaged in rapid R&D activities regarding the manufacture of bio-based plastics or bioplastics for packaging purposes. Thus, this is likely to create ample opportunities for the growth of the packaging industry, and in turn, it will flourish the European food packaging market over the forecast period.
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Further, there are several government regulations imposed to curb down the single-use plastics across Europe. The packaging companies are becoming more focused on investing in environmentally friendly packaging products. Due to this, there is a significant introduction of novel materials such as bioplastics, starch-based, and cellulose-based products which further drives the growth of the European food packaging industry over the forecast period. Besides, companies are also investing in metal packaging items such as aluminum. For instance, in June 2020, SIG announced to launch ASI-certified aluminum standard for EU packs. It offers customers a 100% renewable packaging solution. In the new pack, an ultra-thin barrier layer of aluminum foil will be inserted for a number of shelf-stable products filled in its packs to protect them from light and oxygen and to keep products nutritious and safe.
Market Coverage
· Market number available for – 2019-2026
· Base year- 2019
· Forecast period- 2020-2026
· Segment Covered- By Material, By Packaging, and Application
· Countries Covered- UK, Germany, Italy, Spain, France, and Rest of Europe
· Competitive Landscape- Amcor Plc, Coveris Holdings SA, DS Smith Plc, Mondi Group Plc, Smurfit Kappa Group Plc, Tetra Laval International SA, and Stora Enso Oyj
Key questions addressed by the report
· What is the market growth rate?
· Which segment dominates the market in base year?
· Which segment will project fastest growth in the market?
· How COVID-19 impacted the market?
· Recovery Timeline
· Deviation from pre-COVID-19 scenario
· Most affected segment
· Who is the leader in the market?
· How players are addressing challenges to sustain growth?
· Where is the investment opportunity?
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European Food Packaging Market – Segmentation
By Material
· Plastic
· Paper & Paperboard
· Others
By Packaging
· Flexible Packaging
· Semi-Rigid Packaging
· Rigid Packaging
By Application
· Dairy Products
· Fruits & Vegetables
· Bakery & Confectionery
· Poultry & Meat Products
· Convenience Food
· Others
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
