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.

Report Highlights: Important Revelations 

• Asia Pacific’s flourishing snack packaging industry.

• Emergence of substitute packaging materials in north America’s snack market.
• Balancing durability and style plastics take center stage in snacks packaging.
• Flexible snack packaging combining lightweight design with versatility.
• Meeting versatile snack packaging needs with resealable pouches.

The snacks packaging market size to rise 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.

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.

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 characterized by substantial investments in the development of alternative packaging materials that prioritize 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.

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.

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).

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.

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.

Report Source: https://www.towardspackaging.com/insights/snack-packaging-market-sizing

About The Author

Swapna is a seasoned research consultant with expertise in conducting and analyzing complex research projects across various industries. With a deep passion for knowledge discovery and a commitment to delivering actionable insights, Swapna has successfully collaborated with numerous organizations to help them make informed decisions and drive strategic growth. Swapna has developed a strong track record of designing and implementing research methodologies that generate high-quality data and meaningful results. 

Through careful attention to detail and a meticulous approach. She possesses a diverse skill set, including proficiency in data collection techniques, statistical analysis, and data visualization. With expertise in both qualitative and quantitative research methods, Swapna is adept at crafting research frameworks tailored to the unique needs and objectives of each project. By leveraging advanced analytical tools and software, Swapna transforms complex data sets into concise and impactful reports that drive actionable insights.