Bakery Packaging Market Key Players and Competitive Dynamics

Bakery Packaging Market Growth (2023 – 2032)

The global bakery packaging market was valued at approximately USD 3.40 billion in 2022 and is projected to grow to around USD 5.40 billion by 2032. This growth reflects a compound annual growth rate (CAGR) of 4.8% from 2023 to 2032.

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Report Highlights: Key Insights

• The global bakery packaging market was valued at USD 3.40 billion in 2022 and is expected to grow to USD 5.40 billion by 2032, with a steady compound annual growth rate (CAGR) of 4.8% from 2023 to 2032.
• North America leads the market in bakery packaging, while the Asia Pacific region is seeing significant growth in packaged baked goods.
• Plastic plays a key role in bakery packaging solutions, with pouches becoming an increasingly popular choice for flexible packaging in the industry.
• Bread remains the largest product in bakery production.
• The bakery packaging industry is evolving rapidly, with continuous innovation in materials, designs, and functionality to meet the needs of both businesses and consumers. Manufacturers are focused on finding packaging solutions that preserve freshness and quality while addressing sustainability concerns and regulatory requirements.

Bakery products are sold worldwide, often in appealing packaging that attracts customers. However, functionality is just as important to ensure that products stay fresh and intact. Food waste is a major global issue, with one-third of food produced each year being discarded, amounting to 1.3 billion tonnes and costing USD 1 trillion. The global bread market alone is worth USD 497.5 billion as of 2022. Effective packaging for bakery products must be durable enough to protect against contamination during transport and storage, while also maintaining product quality by resisting heat and moisture.

Key Players and Competitive Landscape in the Bakery Packaging Market

The bakery packaging market is primarily led by well-established companies such as Amcor Plc, Ball Corporation, Bemis Manufacturing Company, Berry Global Inc., BROWPACK, Charter Next Generation, Genpak, LLC, Innovia Films Ltd, Mondi, Napco Security Technologies, Inc., Sealed Air, Smurfit Kappa, Stora Enso, Sydney Packaging, and WestRock Company. These major players are challenged by newer direct-to-consumer companies that use digital platforms to capture market share. Competition in the market is driven by factors like product innovation, sustainability efforts, and the ability to adapt to shifting consumer preferences.

For example, Amcor offers a specialized cast film for packaging bakery items like bread, English muffins, croissants, and bagels, ensuring top-quality clarity and gloss without sacrificing strength or production efficiency. Their AmPrima® film is also recyclable through curbside collection or store drop-off programs when it’s clean and dry.

In a recent move, Amcor expanded its market presence by acquiring Phoenix Flexibles in August 2023, boosting its position in the rapidly growing Indian market, and reinforcing its commitment to environmentally-friendly packaging solutions.

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