# US Fresh Food Packaging Market

> US Fresh Food Packaging Market Research Report: By Material (Flexible & Rigid Plastic, Paper & Paperboard, Metal, Glass, Others) and By End-Use (Meat Products, Fruits, Vegetables, Dairy Products, Others) - Forecast to 2035.

- **Forecast Period:** 2025 - 2035
- **CAGR:** 5.55%
- **2024:** $ 26.5 Billion
- **2025:** $ 27.97 Billion
- **2035:** $ 48 Billion
- **Key Players:** Amcor (AU), Sealed Air (US), Berry Global (US), Mondi (GB), Smurfit Kappa (IE), WestRock (US), Sonoco Products (US), Crown Holdings (US), Graphic Packaging (US)

**Report ID:** MRFR/PCM/16016-HCR · **Pages:** 111 · **Author:** Snehal Singh · **Last Updated:** April 06, 2026

**URL:** https://www.marketresearchfuture.com/reports/us-fresh-food-packaging-market-17544

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## Market Summary

## **US Fresh Food Packaging Market Overview:**

As per MRFR analysis, the US Fresh Food Packaging Market Size was estimated at 19.96 (USD Billion) in 2023. The US Fresh Food Packaging Market Industry is expected to grow from 20.89(USD Billion) in 2024 to 35.79 (USD Billion) by 2035. The US Fresh Food Packaging Market CAGR (growth rate) is expected to be around 5.014% during the forecast period (2025 - 2035).

## **Key US Fresh Food Packaging Market Trends Highlighted**

The US Fresh Food Packaging Market is currently experiencing several important trends driven by consumer preferences and regulatory requirements. One of the key market drivers is the rising demand for convenience among American consumers. As busy lifestyles become more prevalent, there is a strong shift towards ready-to-eat meals and snacks, prompting food manufacturers to seek packaging solutions that enhance freshness while being easy to use. Additionally, the growing preference for sustainable packaging is influencing market dynamics.

Consumers are increasingly seeking products that use recyclable materials and reduce environmental impact, a trend that aligns with the broader movement towards sustainability in the US. Moreover, the increasing awareness regarding food safety and hygiene is reshaping packaging solutions. Innovations that extend shelf life while maintaining freshness are becoming a top priority for food brands. Technological advancements, such as modified atmosphere packaging and intelligent packaging, are creating new opportunities to enhance product longevity and improve consumer trust.

To capitalize on opportunities present in the market, companies can explore the integration of smart packaging technologies that not only maintain freshness but also provide real-time data regarding the condition of the food. Another area of potential growth is in customizing packaging designs that cater to specific dietary needs, which are increasingly important to the health-conscious consumer in the US.Recent trends also include an uptick in online grocery shopping, particularly accelerated by the challenges posed by the pandemic, which is shifting packaging needs towards products that can withstand shipping and handling.

This evolution is reshaping how food companies approach packaging, pushing towards innovations that combine convenience with freshness while accommodating the logistics of e-commerce.

Source: Primary Research, Secondary Research, _Market Research Future_ Database and Analyst Review

## **US Fresh Food Packaging Market Drivers**

### Increasing Consumer Demand for Freshness and Quality

The growing awareness among consumers about the importance of freshness and quality in food products is significantly driving the US Fresh Food Packaging Market Industry. According to the United States Department of Agriculture, high-quality packaging can extend the shelf life of fresh produce by up to 50% through moisture control and proper sealing. This trend toward premium quality is evidenced by the rise in sales of organic and fresh food products, which have seen a 20% increase over the past five years.Companies like Berry Global and Amcor have invested heavily in innovative packaging solutions that address these consumer demands.

Their advanced technologies, such as biodegradable and recyclable materials, respond to the market's push for sustainability while ensuring freshness and quality, leading to a robust growth trajectory within the market.

### Growing Focus on Sustainable Packaging Solutions

Sustainability has become a crucial factor for consumers, especially in the food sector, propelling the demand for eco-friendly packaging in the US [Fresh Food Packaging Market](../../../reports/fresh-food-packaging-market-2498) Industry. Recent surveys indicate that 72% of consumers prefer brands that utilize sustainable practices, as reported by the Food Marketing Institute. Companies like Mondi Group and Sealed Air are leading the charge by developing compostable and recyclable packaging options that meet these consumer preferences.Additionally, regulatory initiatives in various states are further accelerating this trend, with California aiming to reduce plastic waste by 75% by 2030, thus creating an environmentally-conscious packaging landscape.

### Technological Advancements in Packaging

The integration of advanced technologies in food packaging, such as smart packaging innovations, is playing a vital role in the growth of the US Fresh Food Packaging Market Industry. Technologies like temperature-sensitive labels and active packaging can significantly enhance food safety and freshness. The Food Safety and Inspection Service of the United States Department of Agriculture reports that advanced tracking systems can help prevent potential foodborne illnesses, ensuring product safety.Companies like Dow and DuPont are investing in Research and Development to create packaging solutions that not only preserve fresh food but also provide real-time monitoring.

This technological evolution is crucial as consumer emphasis on safety and freshness continues to grow, fostering the rapid expansion of the market.

## **US Fresh Food Packaging Market Segment Insights:**

### **Fresh Food Packaging Market Material Insights**

The Material segment of the US Fresh Food Packaging Market is a critical aspect of the overall market infrastructure, reflecting diverse packaging demands stemming from consumer preferences, environmental concerns, and product safety requirements. The market is buoyed by a growing consumer inclination towards convenience food, driving the need for effective and reliable packaging solutions that maintain freshness and extend shelf life.

Within this segment, Flexible and Rigid Plastic have seen a significant rise in usage due to their lightweight nature, versatility, and cost-effectiveness, addressing the ever-increasing demand for efficient logistics in the food supply chain.Paper and Paperboard packaging maintains a prominent position within the market, appealing to eco-conscious consumers as it is perceived as more sustainable compared to plastic alternatives. This shift towards environmentally friendly options aligns with broader regulatory trends and consumer sentiment advocating for reduced plastic waste.

Metal packaging, notably in the form of cans, is known for its recycling capabilities and preservative attributes, making it a popular choice for products that require durability and long shelf life. Glass packaging, although often seen as a more premium option, offers an appealing aesthetic for fresh foods and beverages, capitalizing on its non-reactive nature and ability to retain food quality without leaching harmful chemicals.The Others category encompasses a range of innovative materials like biodegradable films and sustainable composites, which are slowly gaining traction as consumers and manufacturers alike seek greener alternatives.

The US Fresh Food Packaging Market is characterized by dynamic growth driven by these material trends, as the industry adapts to technological advancements and shifts in consumer preferences toward sustainable and effective packaging solutions that not only enhance product appeal but also conform to evolving environmental standards.Overall, the segmentation of materials within this market showcases a vibrant landscape that is essential for understanding current market dynamics and future growth trajectories.

Source: Primary Research, Secondary Research, _Market Research Future_ Database and Analyst Review

### **Fresh Food Packaging Market End-Use Insights**

The US Fresh Food Packaging Market is primarily segmented by End-Use, which encompasses various categories including Meat Products, Fruits, Vegetables, Dairy Products, and others. Each category plays a crucial role in the overall market dynamics. The Meat Products segment is highly significant due to the rising consumption of protein-rich diets among the US population. It tends to dominate the packaging requirements driven by factors such as increasing disposable incomes and a heightened focus on food safety and hygiene.

Fruits and Vegetables are also essential segments, as they require protective packaging solutions that extend shelf life, reduce spoilage, and enhance freshness.Rising awareness regarding healthy eating is driving the demand for innovative packaging in these categories. Dairy Products, on the other hand, have unique packaging needs to preserve flavor and quality while complying with stringent regulatory standards on food safety. Other products in this segment include packaged ready-to-eat meals and snacks that cater to the convenience-focused consumer base in the US.

The diverse End-Use segments of the US Fresh Food Packaging Market reflect the varied consumer preferences and evolving market trends aimed at sustainability and efficient supply chain management.The overarching market growth is being propelled by the increasing demand for high-quality packaging materials that provide better shelf life and preserve the nutritional content of fresh food items.

### **US Fresh Food Packaging Market Key Players and Competitive Insights:**

The US Fresh Food Packaging Market is a dynamic and rapidly evolving sector characterized by heightened competition among various players striving to innovate and meet the diverse demands of consumers. This market encompasses a wide range of packaging solutions tailored for fresh produce, meats, dairy, and other perishable items. Sustainability and convenience have become pivotal trends driving developments in packaging design and material choice, with companies investing significantly in eco-friendly options to enhance their product offerings. As the market continues to grow, understanding the competitive landscape is essential for identifying opportunities and potential threats.

Players in this space are leveraging advancements in technology to improve packaging efficiency, extend shelf life, and reduce waste, ensuring a robust and competitive environment that is continually adapting to consumer preferences and regulatory standards.Berry Global has established a strong foothold in the US Fresh Food Packaging Market, renowned for its extensive range of flexible and rigid packaging solutions specifically designed for fresh food applications. The company’s commitment to sustainability is evident as it focuses on developing recyclable and biodegradable materials, responding to growing consumer demand for environmentally friendly packaging options.

Berry Global's extensive product portfolio includes films, bags, and containers that cater to various fresh food items, ensuring their optimal freshness and quality. This innovative approach, combined with its vast distribution network and state-of-the-art manufacturing facilities across the US, enables Berry Global to effectively meet the needs of its clients while maintaining a competitive edge.

Furthermore, the company's robust research and development capabilities allow it to stay ahead in terms of product innovation, contributing significantly to its market dominance.Sealed Air is recognized as a key player in the US Fresh Food Packaging Market, offering comprehensive solutions that emphasize food safety and sustainability. The company specializes in products such as vacuum packaging systems and modified atmosphere packaging, which are essential for preserving the freshness of perishable items while minimizing spoilage. Sealed Air’s commitment to sustainability is reflected in its innovative packaging designs that utilize recyclable materials and reduce carbon footprints during production.

The company's strategic mergers and acquisitions have further strengthened its market presence, enabling it to enhance its product portfolio and expand operational capabilities within the US. With a focus on customer-centric solutions, Sealed Air continuously strives to improve packaging efficiency and reduce waste, solidifying its reputation as a leader in the sector. Overall, the company’s emphasis on technological innovation and sustainable practices has positioned it favorably in the competitive landscape of fresh food packaging in the US.

### **Key Companies in the US Fresh Food Packaging Market Include:**

## **US Fresh Food Packaging Market Industry Developments**

Recent developments in the US Fresh Food Packaging Market have shown a significant increase in demand due to heightened consumer preference for fresh and convenient food options. Companies like Berry Global, Sealed Air, and Amcor have been actively expanding their product offerings, focusing on sustainable packaging solutions to meet environmental regulations and consumer expectations. In September 2023, Crown Holdings announced a strategic partnership aimed at enhancing its packaging capabilities, while Pactiv Evergreen has been investing in innovative packaging technologies to reduce waste.

The market valuation of key players, including International Paper and Graphic Packaging, has seen a positive trend, driven by increased sales associated with health-conscious consumer behavior. Notably, in August 2023, Smurfit Kappa acquired a US-based company to bolster its market presence. Additionally, in July 2023, WestRock announced plans to enhance its operations through the integration of advanced automation in packaging processes. Overall, the US Fresh Food Packaging Market continues to evolve, influenced by shifts toward sustainability and innovation among leading companies, enhancing competition and growth opportunities within the sector.

## **US Fresh Food Packaging Market Segmentation Insights**

### **Fresh Food Packaging Market Material****Outlook**

### **Fresh Food Packaging Market End-Use****Outlook**

## Market Drivers

### Rising Consumer Demand for Freshness

The fresh food-packaging market is experiencing a notable shift driven by increasing consumer demand for freshness in food products. As consumers become more health-conscious, they seek packaging solutions that preserve the quality and nutritional value of fresh foods. This trend is reflected in the market, where packaging that extends shelf life and maintains freshness is gaining traction. According to recent data, the market for [fresh food packaging](https://www.marketresearchfuture.com/reports/fresh-food-packaging-market-2498) is projected to grow at a CAGR of 5.2% from 2025 to 2030. This growth is indicative of a broader consumer preference for products that are not only fresh but also visually appealing, prompting manufacturers to innovate in packaging design and materials. The emphasis on freshness is likely to continue shaping the strategies of companies within the fresh food-packaging market. Companies will need to adapt to meet evolving consumer expectations.

### Technological Advancements in Packaging

Technological advancements are playing a crucial role in the evolution of the fresh food-packaging market. Innovations such as modified atmosphere packaging (MAP) and vacuum sealing are becoming increasingly prevalent, allowing for better preservation of food products. These technologies help in reducing spoilage and extending the shelf life of perishable items, which is essential in a market where freshness is paramount. The integration of smart packaging technologies, which can monitor freshness and provide real-time information to consumers, is also on the rise. This shift towards technology-driven solutions is expected to enhance consumer trust and satisfaction, potentially leading to increased sales. As the fresh food-packaging market continues to embrace these advancements, it is likely to witness a transformation in how products are packaged and presented to consumers.

### Regulatory Compliance and Food Safety Standards

The fresh food-packaging market is significantly influenced by stringent regulatory compliance and food safety standards. In the US, the Food and Drug Administration (FDA) and other regulatory bodies impose strict guidelines on packaging materials and practices to ensure consumer safety. This regulatory environment compels manufacturers to invest in high-quality materials and processes that meet safety standards. As a result, companies are increasingly focusing on sustainable and safe packaging solutions that not only comply with regulations but also appeal to environmentally conscious consumers. The emphasis on compliance is likely to drive innovation in the fresh food-packaging market, as businesses seek to differentiate themselves through quality and safety. This focus on regulatory adherence may also lead to increased operational costs, but it is essential for maintaining consumer trust and market competitiveness.

### Growth of E-commerce and Online Grocery Shopping

The rise of e-commerce and online grocery shopping is reshaping the fresh food-packaging market. As more consumers turn to online platforms for their grocery needs, the demand for packaging that can withstand the rigors of shipping and handling is increasing. Packaging solutions that ensure the integrity and freshness of products during transit are becoming essential. This shift is reflected in the market, where companies are investing in durable and protective packaging materials. According to industry reports, the online grocery market is expected to reach $100 billion by 2025, further driving the need for innovative packaging solutions. The fresh food-packaging market must adapt to these changes, focusing on designs that not only protect products but also enhance the consumer experience in the online shopping environment.

### Sustainability Initiatives and Eco-Friendly Materials

Sustainability initiatives are increasingly influencing the fresh food-packaging market as consumers and businesses alike prioritize eco-friendly practices. The demand for packaging made from recyclable and biodegradable materials is on the rise, driven by a growing awareness of environmental issues. Companies are responding by developing packaging solutions that minimize waste and reduce their carbon footprint. This trend is supported by data indicating that 70% of consumers are willing to pay more for sustainable packaging options. As the fresh food-packaging market evolves, businesses that embrace sustainability are likely to gain a competitive edge. The integration of eco-friendly materials not only meets consumer expectations but also aligns with regulatory pressures for reduced environmental impact, making it a critical driver in the market.

## Future Outlook

The fresh food-packaging market is projected to grow at a 5.55% CAGR from 2025 to 2035, driven by sustainability trends, technological advancements, and consumer demand for convenience.

**New opportunities:**

- Development of biodegradable packaging solutions for fresh produce.
- Integration of smart packaging technologies for real-time freshness monitoring.
- Expansion of e-commerce packaging tailored for direct-to-consumer delivery.

By 2035, the market is expected to achieve robust growth, driven by innovation and evolving consumer preferences.

## Segment Insights

### By Material: Flexible & Rigid Plastic (Largest) vs. Paper & Paperboard (Fastest-Growing)

In the US fresh food-packaging market, the material segment reveals distinct dynamics among its values. Flexible & Rigid Plastic holds the largest market share, largely due to its versatility and cost-effectiveness in packaging various food items. Following this, Paper & Paperboard is witnessing significant traction, as consumer preference shifts towards sustainable and eco-friendly packaging solutions. Metal and Glass also contribute to market diversification but occupy smaller shares.

Growth trends are increasingly influenced by environmental concerns, with Paper & Paperboard leading the growth trajectory as it aligns with the demand for sustainable practices. Plastics, while dominating currently, face challenges from regulatory pressures and changing consumer preferences towards biodegradable materials. The future of this segment will hinge on innovations that balance functionality with eco-friendliness, highlighting the need for advancements in both plastic alternatives and recyclable materials.

Flexible & Rigid Plastic (Dominant) vs. Paper & Paperboard (Emerging)

Flexible & Rigid Plastic is the dominant player in the US fresh food-packaging market, recognized for its durability, moisture resistance, and ability to retain food freshness. This material is extensively used in a variety of applications, from wraps to containers, catering to the diverse needs of consumers and manufacturers alike. Conversely, Paper & Paperboard, while currently emerging, is rapidly gaining attention due to its biodegradable properties and alignment with environmentally conscious trends. Shoppers are gravitating towards products packaged in these materials to support sustainability. The competition between these two segments is shaping future packaging innovations, driving companies to develop more sustainable plastic solutions alongside enhancing the functionality of paper products.

### By End-Use: Meat Products (Largest) vs. Dairy Products (Fastest-Growing)

In the US fresh food-packaging market, the segment distribution showcases Meat Products as the largest contributor, holding a significant share due to their essential role in consumer diets. Following closely are Fruits & Vegetables, which are gaining traction as health consciousness rises among consumers. Dairy Products, while currently less dominant, are rapidly expanding their market presence due to innovations in packaging that enhance freshness and convenience. 

The growth trends within this segment are driven by several key factors, including an increased demand for ready-to-eat meals and convenience foods. Eco-friendly packaging solutions are also gaining popularity, as consumers prioritize sustainability. Emerging trends such as plant-based alternatives in the Meat Products segment are reshaping consumer preferences, thereby fueling a competitive landscape where adaptation is crucial for market players.

Meat Products: Dominant vs. Dairy Products: Emerging

Meat Products stand as the dominant segment in the US fresh food-packaging market, characterized by robust demand for various types of meat, including poultry, beef, and pork. This segment benefits from consumer trends favoring protein-rich diets and the increasing popularity of meal kits. The packaging solutions used for meat are often designed to enhance shelf life and maintain quality, ensuring safety and freshness. In contrast, Dairy Products, recognized as an emerging segment, are witnessing a rapid growth trajectory fueled by innovations in packaging technology. These products include yogurt, cheese, and milk, often packaged in formats that promote on-the-go consumption and sustainability. As health trends evolve, both segments are adapting to meet shifting consumer expectations.

## Competitive Benchmarking

The fresh food-packaging market is currently characterized by a dynamic competitive landscape, driven by increasing consumer demand for sustainable and innovative packaging solutions. Key players such as Amcor (AU), Sealed Air (US), and Berry Global (US) are actively shaping the market through strategic initiatives focused on sustainability, technological advancements, and regional expansion. Amcor (AU) has positioned itself as a leader in sustainable packaging, emphasizing its commitment to reducing plastic waste and enhancing recyclability. Meanwhile, Sealed Air (US) is leveraging its expertise in protective packaging to innovate solutions that extend the shelf life of fresh food products, thereby addressing both consumer needs and supply chain efficiencies. Berry Global (US) is also making strides in this area, focusing on the development of biodegradable materials and [smart packaging](https://www.marketresearchfuture.com/reports/smart-packaging-market-1981) technologies that enhance product visibility and freshness.The business tactics employed by these companies reflect a concerted effort to optimize supply chains and localize manufacturing processes. The market structure appears moderately fragmented, with a mix of large multinational corporations and smaller niche players. This fragmentation allows for a diverse range of products and solutions, while the collective influence of major players like WestRock (US) and Crown Holdings (US) helps to drive innovation and set industry standards.

In October  Amcor (AU) announced a partnership with a leading agricultural firm to develop a new line of compostable packaging specifically designed for fresh produce. This strategic move not only aligns with Amcor's sustainability goals but also positions the company to capture a growing segment of environmentally conscious consumers. The collaboration is expected to enhance product offerings and expand market reach, thereby reinforcing Amcor's competitive edge.

In September  Sealed Air (US) launched a new packaging solution that incorporates advanced sensors to monitor freshness in real-time. This innovation is particularly significant as it addresses the increasing consumer demand for transparency in food safety and quality. By integrating technology into its packaging, Sealed Air (US) is likely to enhance customer trust and loyalty, which could translate into increased market share.

In August  Berry Global (US) unveiled a new initiative aimed at reducing its carbon footprint by 30% by 2030. This ambitious goal reflects a broader industry trend towards sustainability and positions Berry Global (US) as a forward-thinking player in the fresh food-packaging market. The initiative is expected to resonate well with environmentally conscious consumers and could lead to enhanced brand loyalty and market differentiation.

As of November  the competitive trends in the fresh food-packaging market are increasingly defined by digitalization, sustainability, and the integration of artificial intelligence. Strategic alliances among key players are shaping the landscape, fostering innovation and collaboration. The shift from price-based competition to a focus on technological advancements and supply chain reliability is evident, suggesting that companies that prioritize innovation and sustainability will likely emerge as leaders in the evolving market.

## Recent News & Developments

Recent developments in the US Fresh Food Packaging Market have shown a significant increase in demand due to heightened consumer preference for fresh and convenient food options. Companies like Berry Global, Sealed Air, and Amcor have been actively expanding their product offerings, focusing on sustainable packaging solutions to meet environmental regulations and consumer expectations. In September 2023, Crown Holdings announced a strategic partnership aimed at enhancing its packaging capabilities, while Pactiv Evergreen has been investing in innovative packaging technologies to reduce waste.

The market valuation of key players, including International Paper and Graphic Packaging, has seen a positive trend, driven by increased sales associated with health-conscious consumer behavior. Notably, in August 2023, Smurfit Kappa acquired a US-based company to bolster its market presence. Additionally, in July 2023, WestRock announced plans to enhance its operations through the integration of advanced automation in packaging processes. Overall, the US Fresh Food Packaging Market continues to evolve, influenced by shifts toward sustainability and innovation among leading companies, enhancing competition and growth opportunities within the sector.

## Report Scope

| MARKET SIZE 2024 | 26.5(USD Billion) |
| --- | --- |
| MARKET SIZE 2025 | 27.97(USD Billion) |
| MARKET SIZE 2035 | 48.0(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 5.55% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| Market Forecast Period | 2025 - 2035 |
| Historical Data | 2019 - 2024 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Amcor (AU), Sealed Air (US), Berry Global (US), Mondi (GB), Smurfit Kappa (IE), WestRock (US), Sonoco Products (US), Crown Holdings (US), Graphic Packaging (US) |
| Segments Covered | Material, End-Use |
| Key Market Opportunities | Adoption of sustainable materials in fresh food-packaging market driven by consumer demand for eco-friendly solutions. |
| Key Market Dynamics | Rising demand for sustainable packaging solutions drives innovation in the fresh food-packaging market. |
| Countries Covered | US |

## Frequently Asked Questions

**Q: What is the current valuation of the US fresh food-packaging market?**
A: The market valuation was $26.5 Billion in 2024.

**Q: What is the projected market size for the US fresh food-packaging market by 2035?**
A: The market is projected to reach $48.0 Billion by 2035.

**Q: What is the expected CAGR for the US fresh food-packaging market during the forecast period 2025 - 2035?**
A: The expected CAGR is 5.55% from 2025 to 2035.

**Q: Which materials dominate the US fresh food-packaging market?**
A: Flexible & rigid plastic, paper & paperboard, and metal are key materials, with flexible & rigid plastic valued at $10.0 Billion in 2024.

**Q: What are the end-use segments in the US fresh food-packaging market?**
A: Key end-use segments include meat products, fruits & vegetables, and dairy products, with meat products valued at $8.0 Billion in 2024.

**Q: Who are the leading players in the US fresh food-packaging market?**
A: Key players include Amcor, Sealed Air, Berry Global, and WestRock.

**Q: How did the valuation of paper & paperboard packaging change from 2024 to 2035?**
A: The valuation for paper & paperboard packaging is expected to grow from $7.0 Billion in 2024 to $12.0 Billion by 2035.

**Q: What is the growth outlook for metal packaging in the US fresh food-packaging market?**
A: Metal packaging is projected to increase from $4.0 Billion in 2024 to $7.0 Billion by 2035.

**Q: What is the expected growth for the fruits & vegetables segment in the US fresh food-packaging market?**
A: The fruits & vegetables segment is anticipated to grow from $6.5 Billion in 2024 to $11.0 Billion by 2035.

**Q: How does the valuation of the 'Others' segment in the US fresh food-packaging market compare from 2024 to 2035?**
A: The 'Others' segment is expected to rise from $2.5 Billion in 2024 to $6.0 Billion by 2035.


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