Snack Packaging Market Size, Share & Industry Analysis, By Material (Plastic, Paper & Paperboard, Metal, and Others), By Product Type (Bags & Pouches, Films & Wraps, Boxes & Containers, Cans & Jars, and Others), By Application (Bakery & Confectionery, Savoury Snacks, Nuts & Dried Fruits, Chips, and Others), and Regional Forecast, 2024-2032

The global snack packaging market size was valued at USD 19.29 billion in 2023. The market is projected to be worth USD 20.07 billion in 2024 and reach USD 29.15 billion by 2032, exhibiting a CAGR of 4.77% during the forecast period. North America dominated the Snack Packaging Market with a market share of 33.49% in 2023

Snack packaging can be of several types, depending on factors such as the snack type, its required shelf life, and the brand's sustainability goals. Effective packaging conveys a sense of quality and develops an emotional connection and builds brand loyalty. The growing demand for snack food among the millennial, GenZ, and working women population is boosting the global market growth. The rising utilization of bakery, confectionery, and savoury snacks is further enhancing the global market share.

The advent of the COVID-19 virus did not majorly harm the food and beverages sector. While the initial shutdown of manufacturing plants impacted market growth, the increasing number of cases led consumers to stockpile products such as biscuits, bread, and others, boosting the demand for snacks and boosting market growth.

Snack Packaging Market Trends

Increasing Demand for On-the-Go and Healthy Food Products Emerges as a Key Trend

As modern life accelerates, the snacking sector is rapidly growing. Snack food manufacturers prioritize nutritional balance, flexibility, and the integration of technology into every product. The longer commutes and heightened workloads are boosting the demand for quick, on-the-go snack products among the working population. The increasing screen time requires multitasking for consumers, which makes convenient snacking a natural and healthy fit for them. The demand for on-the-go snacks is growing massively in both commercial and non-commercial spaces. Health-conscious consumers are seeking healthy snack options to satisfy their cravings and have a portion control meal. These healthy snacks have a small amount of added sugar & low sodium content. The rising demand for nutrient-dense, on-the-go, and healthy snacks is emerging as a key trend for market growth.

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Snack Packaging Market Growth Factors

Flourishing Growth of the Snack Food Sector Drives Market Growth

Snack food consumption is on the rise, driven by consumers’ growing desire to try new things, coupled with the growing online food delivery trend, which is boosting the growth of the snack food sector. The significant expansion in the snack food sector is thus, driving the global snack packaging market growth. The rising demand for comfort foods during working hours is further leading the growth of the snack packaging industry, with consumers seeking products high in fiber, probiotics, and protein.

Convenience remains an essential factor for the expansion of the snack industry owing to the busy consumer lifestyles & rising demand for grab-and-go snacking. It thus emphasizes the importance of significant packaging to preserve the freshness & portability of snacks and offer nutritional information and expiry dates conveniently. The majority of snack food brands are introducing products with low or reduced sugar or replaced with artificial sweeteners. Such initiatives are driving the demand for snack food products, further encouraging market growth.

Increasing Utilization of Flexible Packaging for Snack Foods Enhances Market Growth

The rising utilization of flexible packaging for snack foods is a major factor driving global snack food packaging market growth. Flexible packaging provides excellent barrier protection for the enclosed snack food products, blocking odors, oxygen, light, and heat. The flexible packaging products also decrease spoilage, resulting in less food wastage. Features such as zippers, reseal sticker add-ons, and hook-and-loops allow for numerous servings and occasions while maintaining the freshness of the snacks.

Several products, such as bags, pouches, wraps, and others, provide unbreakable and lightweight properties that make them easier to handle, store, ship, and restock with zero risk of breaking. In addition to these features, flexible packaging enhances shelf presence. The slim design of bags and pouches maximizes shelf space, allowing more products to be displayed. These advantages are boosting the utilization of flexible packaging for snack food products, further driving market growth.

RESTRAINING FACTORS

Evolving Consumer Preferences and Growing Environmental Concerns Hamper Market Growth

Consumer preferences are rapidly evolving due to the health consciousness, increasing desire for distinctive flavors and experiences, and changing lifestyles. Snack food manufacturers must keep up with these shifts by investing in research and development activities to develop products that fulfill the needs of modern consumers. However, maintaining consistent quality while adhering to several safety standards emerges as a major challenge in the snack food sector.

Such evolving consumer preferences are thus becoming a challenging factor for packaging manufacturers, further restricting market growth. Furthermore, growing environmental concerns regarding the hazardous effects of plastic food packaging are becoming a key issue. Plastic is a non-biodegradable material, and not all plastic types are recyclable, causing environmental pollution and harm. There are several potential health risks associated with certain types of plastics, which, in turn, are emerging as a major factor hampering snack packaging market growth.

Snack Packaging Market Segmentation Analysis

By Material Analysis

Significant Benefits Offered by Plastic Material Leads the Plastic Segment

Based on material, the market is segmented into plastic, paper & paperboard, metal, and others.

Plastic is the dominating material segment and is projected to experience noteworthy growth during the forecast period. Packaging manufactured with plastic material is user-friendly and offers enhanced freshness, convenience, reusability, resealability, and better brand awareness, thus boosting its utilization for snack food products. In addition, the material does not react with the packed snack food items, thus providing excellent protection from several other possible contaminants. Moreover, flexible packaging products such as roll stock, wraps, pouches, bags, and others manufactured with plastic material can be easily squeezed, stacked, and stored anywhere, thus boosting their utilization in the snack food industry.

Paper and paperboard are the second-dominating material segment. Growing environmental and health concerns among consumers and brands are driving the demand for paper-based packaging solutions in the snacks industry.

By Product Type Analysis

Bags and Pouches Segment Dominates due to Need For Recloseable Bags & Additional Storage Items

Based on product type, the market is segmented into bags & pouches, films & wraps, boxes & containers, cans & jars, and others. 

Bags and pouches are the dominating segment and will foresee exponential growth. High-barrier materials and resealable zipper closures on the bags and pouches, provide customers with defense against moisture, punctures, and odor, which, in turn, keeps snacks fresher for a longer time. Additionally, bags and pouches also offer user-friendly features such as resealability, which enables consumers to have frustration-free & easy access and carry snacks without frustration. Moreover, such products decrease the need for recloseable bags & additional storage items, thus boosting its demand in the snacks industry.

Films and wraps are the second-leading product type segment. The films and wraps provide enhanced durability, flexibility, and easily customizable high-quality graphics, boosting its demand in the snacks industry.

By Application Analysis

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Bakery and Confectionery Segment Leads due to Growing Trend of DIY Cakes And Small Bakeries

Based on application, the market is segmented into bakery & confectionery, savoury snacks, nuts & dried fruits, chips, and others. 

Bakery and confectionery is the dominant application segment, holding the largest market share. The rapidly growing trend of DIY cakes and small bakeries is the major factor boosting the demand for bakery and confectionery products, thus driving the segment’s growth. Moreover, the introduction of gluten-free and organic products with premiumization alternatives is increasing the sales of bakery and confectionery products, leading to the need for effective packaging solutions.

Nuts and dried fruits are the second-leading application segment and experience efficient growth due to the growing consumption of dried fruits and their health benefits, such as high levels of unsaturated fats, vitamins, proteins, and fibers.

REGIONAL INSIGHTS

Based on geography, the market is analyzed across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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North America is the dominant region in the global snack packaging market share, driven by the expanding food and beverages sector. Growing consumption of snack food products such as bakery, confectionery, and savory snacks, along with the strict government regulations on the safety & quality of snack foods also encourage snack packaging industry growth in the region.

Asia Pacific is the second-leading region and will foresee exponential growth in the forecast period. The region is the major consumer of savory/salty snack products. The Asia Pacific snack food packaging growth is attributed to the rising consumer demand for healthy and nutritionally-dense snacks.

The European region will experience remarkable growth in the coming years, due to high demand for toasted bread, ready-to-eat food, crispbread, wafers, cakes, and other cereal products. The manufacturer of snack food packaging has majorly increased their research & development to design packaging with sustainable snack food packaging materials such as paper and recycled plastic, thus driving market growth.

The Latin American market is predicted to grow steadily in the coming years. The growing trend of eating snacks in between regular meals is enhancing market growth in the region.

The Middle East & African markets will foresee moderate development due to the growth of the food and beverage sector and changing consumer preferences for healthy snacks.

KEY INDUSTRY PLAYERS

Key Market Participants to Witness Significant Growth Opportunities with New Product Launches

The global snack packaging market is highly fragmented and competitive, with few significant players dominating the market by offering innovative packaging solutions in the packaging industry. These major market players constantly focus on expanding their customer base across regions by innovating their existing product range. The market report highlights key developments by these manufacturers.

Major players in the industry include Amcor Plc, Huhtamaki Oyj, Berry Global, Mondi, Sonoco, Sealed Air Corporation, and others. Numerous other companies operating in the market are focused on market scenarios and delivering advanced packaging solutions.

List of Top Snack Packaging Companies:

• Amcor Plc (Switzerland)


• Huhtamaki Oyj (Finland)


• Berry Global (U.S.)


• Mondi (U.K.)


• Sonoco (U.S.)


• Sealed Air Corporation (U.S.)


• Graham Packaging (U.S.)


• American Packaging Corporation (U.S.)


• C-P Flexible Packaging (U.S.)


• ePac Flexible Packaging (U.S.)


• Constantia Flexibles (Austria)


• Winpak Ltd. (Canada)


• ProAmpac LLC (U.S.)


• WestRock (U.S.)


• Eagle Flexible Packaging, Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• July 2024 – Amcor and Lorenz Snacks declared the launch of an innovative and new recycle-ready packaging solution for Lorenz’s lentil-coated peanut product. AmPrima by Amcor provides an additional sustainable choice for various brands, accomplishing a 51% decrease in carbon footprint, a 41% reduction in non-renewable energy utilization, and a 51% decrease in water consumption.


• June 2024 – A flexible packaging manufacturer, Constantia Flexibles, announced the launch of a new EcoTwistPaper, specifically for its confectionery packaging. The company launched EcoTwistPaper owing to the growing consumer & regulatory demand for extra sustainable packaging options. It provides brands and manufacturers with a packaging option that is visually appealing and recyclable. 


• June 2024 – Saica Group and Mondelez introduced a paper-based product directed to multipack products for the biscuits, chocolate, and confectionery markets. The new paper-based packaging is developed to be recyclable and is appropriate for the heat-sealable packing process. It can be produced uncoated or coated, depending on the preferred final appearance.


• March 2024 –  PepsiCo collaborated with its flexible food packaging supply chain partners and declared the launch of a premium snack packaging solution comprising 50% recycled plastic. The new packaging uses an advanced recycling process, accomplishes strict food-contact requirements, and was introduced for PepsiCo’s Sunbites brand in the U.K. and Ireland.


• October 2023 –  Walkers, the leading crisp brand, launched an innovative paper outer bag, especially for Walkers Baked multipacks. The environmentally friendly packaging innovation decreases the brand's annual utilization of virgin plastic by 180 tonnes. The paper outer bags are the first savory snacks flexible packaging solution in the U.K. and are made available in major supermarkets.

REPORT COVERAGE

The market research report provides a detailed market analysis. The snack packaging sector overview also focuses on key aspects, such as top key players, competitive landscape, product/service types, market segments, Porter’s five forces analysis, and leading segments of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the abovementioned factors, the report encompasses several factors that have contributed to the market intelligence & growth in recent years.

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