The global fresh food packaging market size is expected to reach USD 181.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.0% from 2021 to 2028. Increasing demand for fresh dairy products from developing countries is expected to be the key driver for the market over the forecast period.
The industry has experienced a significant impact of the COVID-19 pandemic owing to the disruption of the supply chain. The shutdown in China, which is one of the key raw material producers, has impacted packaging manufacturers globally. The shortage in supply of raw materials like plastics, aluminum, steel, and others from Chinese manufacturers has resulted in a demand-supply gap, however, the manufacturing is expected to ramp up the production gradually.
The demand for packaging of fresh vegetables and fruits remained intact as the supply chain remained unaffected and imports continued during the COVID-19 pandemic. Specifically, the fruits and vegetables with high vitamin C content witnessed a significant increase in sales which further contributed to the increased supply-demand gap for the market.
The increasing demand for eco-friendly packaging solutions has forced various companies to develop products that are recyclable or biodegradable. For instance, in November 2020, Amcor plc introduced a new product line, Packpyrus, which is a paper-based packaging solution for meat and cheese. Similarly, in September 2019, PPC Flexible Packaging LLC launched PPC green products, which include compostable and recyclable pouches to strengthen its sustainable eco-friendly product portfolio
Major market players are constantly acquiring smaller market participants to increase their market shares in the global market. For instance, in February 2019, Sealed Air announced the acquisition of MGM’s flexible packaging business to increase its market presence and expand its food packaging product portfolio. Similarly, in June 2019, Amcor Plc acquired U.S.-based Bemis Company Inc., a manufacturer of flexible and rigid packaging, to increase its global reach.
Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/fresh-food-packaging-market
Fresh Food Packaging Market Report Highlights
• The flexible segment accounted for a significant revenue share of 47.6% in 2020. Manufacturers are actively investing in increasing the production capacity of flexible packaging owing to the increasing preference for economical and low-cost packaging by the application industry
• The plastic material segment accounted for the largest revenue share of 37.2% in 2020 and is expected to witness a CAGR of 4.7% over the forecast period. Abundant raw material availability and lower costs owing to high production levels in APAC and North America are responsible for the high market share
• The dairy products segment dominated the market in 2020 and is expected to witness a CAGR of 5.3% over the forecast period. Higher dependency on milk for daily protein requirement in developing countries is expected to drive the demand for dairy products, thereby driving the market
• In Asia Pacific, the market is estimated to witness the highest CAGR of 6.3% from 2021 to 2028. Abundant raw material availability and large output from application industries are responsible for the high market share and fastest growth.
• Key companies are increasingly offering custom packaging solutions to end-use companies; besides key companies are increasingly focusing on the use of recycled material as it offers complete sustainability.
For Requesting a Sample Copy Please Visit @ https://www.grandviewresearch.com/industry-analysis/fresh-food-packaging-market/request/rs15
Fresh Food Packaging Market Segmentation
Grand View Research has segmented the global fresh food packaging market on the basis of packaging type, material, application, and region:
Fresh Food Packaging Type Outlook (Revenue, USD Billion, 2017 – 2028)
• Trays & Boxes
• Pouches & Bags
• Wraps & Films
Fresh Food Packaging Material Outlook (Revenue, USD Billion, 2017 – 2028)
• Polyvinyl Chloride
• Polyethylene Terephthalate
• Paper & Paper Board
• Polylactic Acid
Fresh Food Packaging Application Outlook (Revenue, USD Billion, 2017 – 2028)
• Eggs, Meat, and Seafood
• Fruits and Vegetables
• Dairy Products
Fresh Food Packaging Regional Outlook (Revenue, USD Billion, 2017 – 2028)
• North America
• The U.S.
• Asia Pacific
• Latin America
• Middle East & Africa
• South Africa
List of Key Players of Fresh Food Packaging Market
• Amcor plc
• DS Smith Plc
• FLAIR Flexible Packaging Corporation
• PPC Flexible Packaging LLC
• Transcontinental Inc.
• FFP Packaging Ltd.
• Sealed Air
Fill the Pre-Order Enquiry Form for the Report @ https://www.grandviewresearch.com/inquiry/5531/ibb
Browse Related Reports:
Micro-perforated Food Packaging MarketAnalysis Report By Material (Polyethylene, Polypropylene), By Application (Fruits & Vegetables, Bakery & Confectionery), And Segment Forecasts, 2018 – 2025.
About Grand View Research
Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
Country: United States