With the rise in demand for food that fresh, appealing, and safe to consume, the packaging industry has been trying to improvise from all aspects, ensuring the quality and freshness of food as well as minimizing the impact on environment. The main focus is on dealing with the environmental issues like reduction of waste material and facility to detect any tampering with the package. Thus, the fresh food packaging market is evolving in line with the packaging industry.
Market Drivers and Opportunities
Increasing awareness about global warming and environment-related issues has led to the packaging industry adopting various eco-friendly ways of packaging, thereby increasing the demand for packaged fresh food. The rising demand for good-quality and convenience food and extended shelf-life of fresh food are the primary driving factors for the growth of this market. Apart from these, the increasing population coupled with increasing incomes is also fueling the market growth.
Market at a Glance
The global fresh food packaging market size is estimated to grow from USD 79.9 billion in 2020 to reach USD 94.7 billion by 2025, at a CAGR of 3.5% during the forecast period. The fresh food packaging sector has been growing in tandem with the packaging industry. The increasing population, rising demand for convenience food, and the extended shelf life of packaged food are the main drivers for the fresh food packaging industry.
The major giants competing in the market for fresh food packaging are
- Amcor Limited (Australia)
- Coveris Holdings S.A (U.S.)
- Smurfit Kappa Group (Ireland)
- E. I. du Pont de Nemours and Company (U.S.)
- Mondi Plc (South Africa)
- Bemis Company, Inc. (U.S.)
- International Paper Company (U.S.)
- D.S. Smith Plc (U.K.)
- Silgan holdings Inc. (U.S.)
- RockTenn Company (U.S.)
- Sealed Air Corporation (U.S.), among others.
These companies are adopting strategies like new product launches, mergers & acquisitions, and expansions in order to maintain a competitive edge in the whole market.
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Research Scope
As per the researchers, the market for fresh food packaging has been analyzed and forecasted on the basis of the following segmentation:
• Package Material: Polyethylene, Polypropylene, Paper, Aluminum, BOPET, Poly-vinyl Chloride, Others (glass, wood, and textiles)
• Pack Type: Flexible Pack, Converted roll stock, Gusseted bags, Flexible paper, Corrugated box, Boxboard, Cans, Others (stand-up pouches & wicketed bags)
• Application: Meat & Meat Products, Vegetables, Seafood, Fruits, Others (dairy and poultry)
• Geography: North America, Europe, Asia-Pacific, RoW
Summary
The fresh food packaging market is primarily driven by the rising demand for convenience but safe food and increased shelf-life of fresh food products.
