Snacks Packaging Market Size Anticipated to Attain USD 28.07 Billion by 2032

The snacks packaging market size size forecasted to grow from USD 17.82 billion in 2022 is estimated to reach USD 28.07 billion by 2032, growing at a CAGR of 4.7% between 2023 and 2032.

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Report Highlights: Important Revelations 

• Global snacks packaging sector is poised for growth, starting at a value of USD 17.82 billion in 2022.
• The market is expected to surge, reaching an estimated value of USD 28.07 billion by 2032.
• This expansion is growing at a consistent CAGR of 4.7% over the period from 2023 to 2032.
• Asia Pacific’s flourishing snack packaging industry.
• Emergence of substitute packaging materials in north America’s snack market.
• Balancing durability and style plastics take centre stage in snacks packaging.
• Flexible snack packaging combining lightweight design with versatility.
• Meeting versatile snack packaging needs with resealable pouches.

The snack packaging industry is experiencing increased demand for packaging solutions catering to customer convenience and preferences. Snacks, being a popular choice for quick, informal, or on-the-go eating, necessitate packaging that is simple to open, keeps the product fresh, and is portable. Customers are willing to spend a 10-to-50 percent premium for packaging that fits these criteria.  2023, the global snack market will generate USD 1,220.9 billion in revenues. By 2022, the average income per capita for cookies and crackers had risen to $34.93, $11.42 for potato chips, and $20.32 for flips, tortilla chips, and pretzels.

Packaging is critical in maintaining the freshness of snack food, especially when subjected to high pressure and temperature during processing. This guarantees that the products are effectively wrapped, preserving their quality and extending shelf life. The packing procedure is strictly followed to protect producers and customers from problems.

Snack packaging frequently has two or more layers with high-barrier materials to ensure excellent preservation. Design considerations include low oxygen and water vapor permeability, resistance to heat adhesion, light protection, and a low coefficient of friction. Furthermore, there is an increasing emphasis on sustainability, focusing on using eco-friendly packaging materials.

For Instance,

• In January 2022, PepsiCo introduced eco-friendly packaging for all their products in Europe. Also announced By 2030, snack films will be made entirely of recycled or sustainable plastic.

Snacks Packaging Market Trends

• Minimalism has been a long-standing and popular trend in snack packaging. Consumers want transparency and honesty, especially regarding production processes and ingredients.
• The sustainable snack food packaging trend requires fewer natural resources, allowing firms to continue creating product packaging at cheaper costs while increasing long-term stability.
• 38% of people are willing to acquire a newly introduced product if it includes all relevant information on the snack package. People are becoming more mindful of what they consume.
• Reusable zipper tapes, adhesives, sliders, lidding films, and other materials may be helpful. With these new package designs, consumers can keep snacks fresh in their original containers and prevent food waste.

Asia Pacific's Thriving Snack Packaging Market

The snack packaging market, significant in the Asia Pacific region, has experienced substantial growth despite the obstacles presented by the pandemic and changes in the world economy. Countries in Asia Pacific are dealing with the inflationary consequences of the global environment as they emerge from the epidemic in 2023. The snack packaging market has demonstrated positive volume and value growth in 2023, with predictions of continuous expansion over the projected term, despite China experiencing rises in COVID-19 cases.

For Instance,

• In December 2023, Mars China unveiled a Snickers bar with flexible mono-material packaging that featured dark chocolate cereal.

India, a prominent participant in the savory snack market that includes meat snacks, potato chips, nuts, and seeds, is positioned for significant growth. According to projections, India's demand for savory snacks will grow to around 13 billion dollars by 2026. The growth above highlights the growing need for inventive and effective snack packaging solutions that satisfy customer demands for freshness, portability, and consumption while on the go. The snack packaging sector in the Asia Pacific is dynamic, adjusting to meet the varied needs of markets as the area navigates economic transitions and changing consumer trends.

Rise of Alternative Packaging Materials in North America's Snack Market

North America is the second-largest market for snack packaging, with various corporations and startups showing an increased interest in the region. This rising trend is characterised by substantial investments in the development of alternative packaging materials that prioritise recyclability, reusability, compostability, or biodegradability, hence reducing environmental impact.

Cookies emerged as the most popular snack option, with 59 percent of respondents indicating a regular fondness for these sugary comfort foods. Potato chips come in second, with 58 percent of snackers preferring them over healthier veggie options, which only appeal to 24 percent of customers.

Many snacking options, such as ice cream, candy, nuts, and dried fruits, are popular with Americans. In terms of consumption frequency, 51% of snack enthusiasts eat many times per week, while 25% eat every day, highlighting the pervasive and chronic character of snacking in North American culture. This consumer behaviour reflects an increasing awareness of flavour preferences and environmental concerns in the snack packaging sector.

For Instance,

• In December 2023, Kellanova, in North America, imagines a time when the earth flourished. Cheez-It®, Cheez-It®, Snap'd®, Club®, and Puff'd® Crisps are three well-known snack companies that have cut back on plastic usage in their packaging without sacrificing the quantity of mouthwatering food that is contained in each box.

Snacks Packaging Market, DRO

Demand:

• Consumers place great emphasis on snack freshness and quality. Moisture barriers, oxygen absorbers, and resealable closures are all features that help increase snacks' shelf life while preserving their flavor and texture.

Restrain:

• Compliance with food safety rules, labeling requirements, and packaging standards presents restraint for snack manufacturers.

Opportunity:

• Offering customizable snack packaging alternatives enables firms to adapt to consumer tastes while creating distinctive brand experiences.

Plastics Priority Striking a Balance Between Durability and Style in Snacks Packaging

Snack packaging is currently dominated by plastic, which is the most widely used and newest material on the market. A startling 40% of plastics made worldwide are used to package food and beverages. Consumer preferences are greatly influenced by the type of packaging material used; therefore, businesses must invest in protecting their products and creating eye-catching packaging designs. Ignoring these factors might cost you money and reduce consumer confidence in your brand's quality.

Priority Plastics manufactures snack food packaging that strikes a mix between toughness and style in order to allay these worries. Their clear PET containers provide strong protection on shelves, in distribution, and during transit.

Prominent companies such as Nestlé, PepsiCo, and Mars have pledged to meet sustainability targets by 2025. They promise to use only recyclable, compostable, or reusable packaging, with 26 percent made of recycled materials obtained from previous customer use. They also want to cut the amount of virgin plastic by 20%. These programmes are a part of an expanding industry-wide endeavour to reduce environmental damage and encourage ethical packaging.

For Instance,

• In January 2024, Walkers intends to reduce its usage of virgin plastic over the next two years, starting with the launch of new packaging for Sunbite's line of snacks, which contains 50% recycled plastic.

Lightweight and Versatile Appeal of Flexible Snack Packaging

Flexible and rigid packaging are the two main types of snack food packaging. Flexible packaging is lighter than rigid packaging because it is typically composed of bags or pouches sealed with heat or pressure and comprised of materials like plastic, film, foil, or paper. Customers enjoy snack bags and pouches that can hold many servings and have resealing technology since they keep food fresh and can be used for various occasions. Essential features in this category include zippers, hook-and-loop fasteners, and resealable stickers.

Flexible packaging has a significant presence on the shelf and many functions, giving companies a big chance to set themselves apart from the competition. Pouch packaging maximizes shelf space by holding more products than rigid packaging because of its slender shape. Because of their unbreakability and little weight, they are easy to handle, ship, store, and refill without breaking. Because pouches are easy to discard and take up less room when travelling or at home, consumers also profit from these features. These percentages also include plastic films, which make up about 2% of weight and 6% of turnover, that converters utilise for lamination and to produce flexible packaging.

For Instance,

• In December 2023, Frosty Boy Global was acquired by KENT® Corporation, an award-winning American manufacturer and global marketer of food, beverage, and agricultural products, through its subsidiary, KENT Precision Foods Group.

Resealable Pouches Meeting the Demand for Versatile Snack Packaging

Single-use containers, sometimes called "stand-up pouches," are pliable foil or plastic pouches intended to carry food or drinks. Snack food packaging has recently become increasingly popular due to the growing need for customized pouches that accommodate different snacks.

These resealable pouches are becoming increasingly popular because they don't harm the environment. Materials like cardboard, metal, and glass are gradually replaced by polyethylene terephthalate (PET).

For Instance,

• In July 2023, Walki and Rovema collaborated to create a novel pouch design that presents itself as a recyclable and conveniently open way to package snack products such as chocolate, dried fruit, almonds, and other items.

They have various uses, such as cereal and energy drink packaging. Because pouches have a smaller carbon footprint than other packaging materials, they are becoming increasingly popular. Flexible pouches are an eco-friendly substitute for rigid containers, which generate substantial waste. Because of this feature, they are a better option for people who care about environmental preservation and sustainability.

For Instance,

• In August 2023, Ferrero Rocher Moments redesigned its packaging in India, introducing pouches in shelf-ready dispensers and factory-packed hangsells for traditional and modern retail and e-commerce channels. The launch caters to customers' sharing and self-consumption.

Competitive Landscape

The competitive landscape of the snack packaging market is dominated by established industry giants such as Graham Packaging Holdings, Bryce Corporation, Sonoco Products, Bemis Company, Swiss pack private limited, American Packaging, Sealed Air Corporation, Printpack, Inc., WestRock Company and Tetra Pak International S.A. These giants compete with upstart direct-to-consumer firms that use digital platforms to gain market share. Key competitive characteristics include product innovation, sustainable practices, and the ability to respond to changing consumer tastes.

Bryce Corporation offers chips, pretzels, or something completely new to the snack market; a cutting-edge package design will set the product apart. Engineered to maintain freshness and increase shelf life, your salty snacks will always be crisp and ready to eat, spearheading the snack industry's move from paper and cellophane to plastic packaging by pioneering extrusion lamination technology.

For Instance,

• In May 202, Bryce Corp., a flexible packaging maker, and Ocean Spray Cranberries Inc., Lakeville, Massachusetts, introduced a novel retail drop-off recyclable stand-up-pouch solution.

Sonoco Packaging, which communicates accessibility and ease, appeals to busy consumers who are short on time and need a simple and intuitive answer. Sonoco's packaging can be customized to meet product, process, merchandising, and customer goals, whether for chips, nuts, cookies, candies, trail mix, or cereal.

For Instance,

• In November 2023, the acquisition of Clear Pack firm, a privately held vertically integrated maker of thermoformed and extruded plastic materials and containers, was announced by Sonoco, the worldwide packaging firm.

Snacks Packaging Market Players

Graham Packaging Holdings, Bryce Corporation, Sonoco Products, Bemis Company, Swiss pack private limited, American Packaging, Sealed Air Corporation, Printpack, Inc., WestRock Company and Tetra Pak International S.A.

Market Segments

By Material

• Plastic
• Paper
• Glass
• Metal

By Packaging Types

• Flexible Packaging
• Rigid Packaging
• Others

By Product Type

• Pouches
• Boxes
• Cans
• Bags

By Region

• Asia Pacific
• North America
• Europe
• LAMEA