|Global Food and Beverage Packaging Market, Forecast to 2030|
|Need for More Sustainable and Lighter-weight Packaging Solutions will Support Market Growth Despite Contraction in Material Demand|
Frost & Sullivan’s latest analysis, Global Food and Beverage (F&B) Packaging Market, Forecast to 2030, reveals that the need to reduce material usage and develop more sustainable, durable and lighter-weight packaging solutions with lower production costs are key drivers supporting steady market development. Utilizing innovative packaging materials, advancing processing and additives through technological improvements and an uptick in eCommerce distribution will further augment market expansion. While revenue is expected to increase modestly, recording a compound annual growth rate (CAGR) of 1.2% from 2018 to 2030, unit shipment by weight is set to decrease in the short term due to a sustained drive for lighter-weight packaging.