Asia Pacific food packaging market sector has picked up pace in terms of developments as well as demand over the years.
Increasing purchase of packaged food products in the region along with surging export and import of packaged food items will positively influence Asia Pacific food packaging market share in the near future.
Rise in disposable income among people in Asia Pacific region along with the increasing rate of employment has led to the adoption of on-the-go food and beverages.
In a country such as India, improving rate of affordability and changing food consumption patterns is driving developments in the processed food industry. Moreover, increasing investment by the government and certain private entities along with favorable economic policies is supporting cross border trade of food products.
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Statistics indicate that by 2020, Indian food and retail sector is expected to be valued at USD 828.92 billion. Food processing in India is likely to attract investments worth USD 33 billion by the end of 2024.
Flourishing e-commerce industry
Increasing penetration of internet in the region along with growing dependence on e-commerce platform is driving packaged food consumption. Food delivery players such as Zomato, UberEATS, Grab, TinyOwl, and Go-Jek are fueling the need for a robust food packaging sector.
Noticing the growth potential of online food delivery networks, American multinational e-commerce company- Amazon is reportedly set to enter the Indian food delivery market by mid-2020.
Asia Pacific food packaging market plays an important role in maintaining the quality of the food, increasing the shelf life of the product and protects perishable food items from spoilage. It also facilitates easy transportation of food from one place to another.
Growing demand for healthy food products due to adequate knowledge regarding the benefits of eating healthy and growing incidences of chronic diseases is magnifying the production of healthy, nutritious, oil-free and organic food products.
As of 2016, close to 110 million people in China were diagnosed with diabetes owing to unhealthy diet patterns and lack of physical activity. The awareness for eating healthy among consumers in APAC is inadvertently magnifying the food packaging industry.
Increased adoption of polypropylene
In terms of material, polypropylene plastic is widely being used in the food packaging industry. PP renders high impact and tear resistance, improved cold temperature performance and heat-sealing properties, making them a viable option in safely securing the food products.
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Additional features like superior machine suitability, moisture-proof performance, low specific weight, and improved shock and abrasion resistance will support the use of the material in the sector. Light-weightiness, durability, cost-effectiveness, low density, sustainability, easy-recycling, and high heat resistance are some of the other important benefits provided by polypropylene in the food packaging.
Positive trends in APAC food packaging industry are owing to the wide demand for packaged food items along with FDI in countries like China, South Korea, India, Japan, and Singapore. Asia Pacific food packaging market manufacturers carrying out constant innovations in the product line include Ball Corporation, Plastipak Packaging Inc., Amcor PLC, Sealed Air Corporation and Sonoco Products Company, among various others.
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