The US food packaging market is projected to grow at a CAGR of 5.3% during the forecast period. The key factors that drive the growth of the US food packaging industry include the increasing focus of food packaging manufacturers towards innovations. The key companies across the country are also inclined towards expanding its packaging capabilities via several mergers and acquisitions. For instance, in October 2018, Hearthside Food Solutions, LLC signed an agreement to acquire Greencore USA’s packaging business. Thus, this is likely to enhance the company’s food packaging business as well as contribute to the growth of the market over the forecast period.

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Huawei Technologies Co., Ltd., Alibaba Group Holding Ltd., and Tencent Holdings, Inc. has been leading in the smart city projects across the country. With smart city projects, the Chinese cities are paving the way for cashless payments, AI-directed traffic, and smart parking. In July 2017, City Brain project was started using by Hangzhou. The project is developed by Alibaba, which involves the use of sensors and camera systems across the city for the collection of data on road conditions in real-time. This supports AI-directed traffic, which thereafter traffic signals at 128 intersections.

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Further, the key players including American Packaging Corp., Ball Corp., Bemis Co. Inc., Berry Global Inc., International Paper Co., Mondi Plc, Sealed Air Corp., Smurfit Kappa Group, and Sonoco Products Co., are contributing towards the US food packaging market growth. These players are emphasizing on the factors such as convenience and utilization of high-performance material, which demands the advanced packaging materials. Besides, the key players are also adopting advanced packaging techniques for improved shelf-life, heightened efficiency in the prevention of content contamination. Thus, these factors altogether contribute to the overall growth of the US food packaging market over the forecast period.

Market Coverage

Market number available for – 2019-2026
Base year- 2019
Forecast period- 2020-2026
Segment Covered- By Material, By Packaging, and Application
Competitive Landscape- Ball Corp., Berry Global, Inc., Sealed Air Corp., International Paper Co., American Packaging Corp., and others

Key questions addressed by the report

What is the market growth rate?
Which segment dominates the market in the base year?
Which segment will project the fastest growth in the market?
How COVID-19 impacted the market?

o Recovery Timeline

o Deviation from the pre-COVID-19 scenario

o Most affected segment

Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?

US 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

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