The market for protein packaging had been estimated to be worth US$ 23.7 billion in 2022, and from 2020 to 2028, it is envisioned to expand at a CAGR of 4.5%. In 2032, the market for protein packaging is projected to be worth US$ 36.81 billion.
Attributes
Details
Protein Packaging Market (CAGR)
4.5% CAGR
Protein Packaging Market (2022)
US$ 23.7 Billion
Protein Packaging Market (2032)
US$ 36.81 Billion
Due to the prevalence of numerous small- and medium-sized businesses, the industry is moderately fragmented. Due to strict regulations regarding the use of excessive plastic material and rising consumer awareness of the environment, market players are concentrating on sustainable packaging.
Important players are developing packaging pouches made of compostable materials and producing products using post-consumer recycled (PCR) plastic. Businesses have been concentrating on consumer trends and preferences that provide benefits of single-serve, travel-friendly packaging.
Manufacturers looking to expand their services globally are beginning to view the Asian Pacific nations as the key market regions.
The major market participants in North America's USA market are creating plans to aid in the development of hygienic packaging methods. The pharmaceutical industries in this area are expanding and anticipate that the market will expand at the anticipated rate.
The governments of various nations that make up the APAC region are launching growth strategies, initiatives, as well as government-side support geared toward lending a helping hand and favouring edible packaging solutions as well as the establishment of raw materials derived from plant-based sources.
They will have a significant impact on the market's ability to experience healthy growth. The major players in the APAC region provide the industries with the raw materials they need through commercial seaweed farming because they view it as a sustainable source to meet their needs.
Important players are thinking about strategic investments for establishing new plants. The move will improve operations in developing countries, one of its markets with the fastest rate of growth.
The unveiling of its latest Innovation Center has been announced by global leaders in responsible packaging solutions. The new centre brings advanced packaging technologies and more sustainable material science to Asia Pacific, assisting in the region's growth and innovation.
Important players Announce a global innovation strategy that will invest in start-ups with differentiated solutions and business models focused on new packaging concepts and related technologies, with a focus on sustainability.
Many start-ups from around the world apply for the open call. The most promising applicants are chosen to compete for funding and resources, and their sustainability focus includes new technologies such as nanotechnology and biomaterials, as well as new barrier technologies, processes, and business models for recycling infrastructure and reusable packaging.
Manufacturers are also redesigning their products to give consumers a more complete understanding of the expanding range of environmentally friendly packaging options. With this significant marketing effort, the company's extensive product portfolio, which has expanded through innovation and strategic acquisitions, is more visible and transparent to customers.
The widespread and escalating adoption of protein packaging depends in large part on innovation. Innovation frequently goes hand in hand with the growth and improvement of the available technology, which has a significant impact on the protein packaging market. This is driving the major market players to make significant investments in the creation of products that beat the market, benefit the target market, and ultimately boost their earnings and sales numbers.
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Protein Packaging Market Overview
Food & Beverage sector has the maximum share in the global packaging market owing to an increased demand for packaged food by the consumers. Off late, sports and nutrition is turning out to be a strong contributor to the market share of the food & beverage sector.
Consumers are increasingly getting conscious about their fitness and are engaging themselves in sports and other fitness routines. Protein is a must requirement for individuals who engage in a lot of fitness activities which is boosting the protein as well as protein packaging market.
Protein packaging market is likely to register significant growth over the forecast period owing to an increased consciousness among individuals regarding their health.
Protein Packaging: Market Dynamics
The dietary supplements industry has experienced rapid growth in the past couple of decades. Breakthroughs in biotechnology and biochemistry have led to a plethora of knowledge regarding the needs of the human body, leading to innovation in dietary supplement formulation.
This is expected to fuel the global protein packaging market as new formulations are brought to the market, thus creating a need to innovate in the packaging field, to come up with packaging materials which are compatible with the latest formulations.
There has been a rising demand for nutritious food and supplements among consumers which is fuelling the growth of the global protein packaging market. Protein is a must have dietary supplement for fitness enthusiasts which is a key factor driving the growth of the global protein packaging market.
High cost of the protein supplements is a restraining factor for the global protein packaging market. Moreover, protein packaging requires the quality material of exact chemical composition and density to keep the quality of the nutrients intact and a minute change may degrade the quality which is one of the restraining factor of the global protein packaging market.
The growing concerns regarding the protein formulations, including the environmental concerns over the packaging materials used, might have a role to play in restraining the global protein packaging market. Innovative packaging solutions for proteins apart from the regular tub packaging is a key trend prevailing in the global protein packaging market.
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Protein Packaging: Market Segmentation
Global protein packaging market is segmented on the basis of packaging type, product type, raw materials, and geography. On the basis of packaging type, the global protein packaging market is segmented into rigid packaging and flexible packaging. Rigid packaging is further sub segmented into boxes, cartons, and canisters.
Flexible protein packaging is further sub segmented into stand up pouches, and side gusset bags. The demand for flexible packaging is more as compared to rigid packaging owing to its convenience and portability. Moreover, pouches are preferred more over other types of packaging as they require less warehouse space and use less plastic.
On the basis of product type, the global protein packaging market is segmented into protein bars, and protein powder, and protein shakes. On the basis of raw material used, the global protein packaging market is segmented into paperboard, and plastics. Plastics is largely preferred for protein packaging.
Protein Packaging Market: Regional Outlook
On the basis of geography, the global protein packaging market is segmented into Latin America, North America, and Middle East & Africa, Europe, and Asia Pacific region. North America is leading the global protein packaging market, particularly United States.
The higher percentage of North America is attributed to a large North American population engaged in fitness. Moreover, North America has an exceptional fitness and athletics infrastructure which leads to increased consumption of sports and nutrition drinks and hence, driving the demand for global protein packaging market.
Asia Pacific is expected to register faster growth owing to increasing demand for dietary supplements in economies like India and China. Increasing disposable income of households is also increasing the demand for protein packaging market in the Asia Pacific region.
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Protein Packaging Market: Key players
Key players of the global protein packaging market are Flexifoil Packaging Pvt. Ltd., Swiss Pac Private Ltd., Amcor Limited, and DuPont
The report covers exhaustive analysis on
Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Regional analysis includes
North America (U.S., Canada)
Latin America (Mexico, Brazil and Rest of Latin America)
Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg and Rest of Western Europe)
Eastern Europe (Poland, Russia and Rest of Eastern Europe)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa, and Rest of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies
