Asia Pacific Food Packaging Market Analysis

Asia Pacific Food Packaging Market Analysis

Virgin food packing products are manufactured directly from various raw materials and have never been used before for any purpose, including packaging. Recycled packaging is manufactured from various recycled materials and passes strict norms to be used as food packaging material. Virgin food packaging accounts for more than 70% volume share in the overall market and is likely to expanding with the significant rate in the coming years. Virgin packaging material is the initial primary source for all types of food packing materials such as plastic, metal, glass, paper & paperboard and wood. Furthermore, high durability of virgin products on the molecular level will increase its demand over the forecast spell.
 

Asia Pacific food packaging market based on the type of material used is classified into glass, metal, plastic, paper & paperboard and wood. Plastic dominates the revenue segment with the market share of more than 50% in 2018.  This is due to its rising demand in food packing sector. Moreover, its durability, flexibility and ability to resist to external influences makes it favorable for food packing. Furthermore, high versatility of plastic makes it easier to recycle and reuse several times based on the requirements.
 

The Asia pacific food packaging market on the basis of technology is grouped into retort packaging, aseptic packaging, active packaging, and others. Retort packaging is the fastest growing packaging technology, which accounts for over USD 8 billion of the overall revenue in 2018. Owing to low manufacturing cost that uses laminates of flexible plastic and metal foils. Furthermore, convenient transportation and storage due to its lightweight nature will propel its demand by 2025.