May 19, 2020
According to the research report titled ‘Global Fresh Food Packaging Market Size study, by Material (Polyethylene (PE), Polypropylene (PP), Paper, Aluminum, Bopet, Poly-Vinyl Chloride (PVC) and Others), Package Type (Converted Roll Stock, Gusseted Bags, Flexible Paper, Corrugated Box, Boxboard, Cans and Others), by pack type (Meat Production, Vegetables, Sea Food, Fruits and Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, worldwide fresh food packaging market was worth USD 77.2 billion in 2019 and is predicted to expand with a CAGR of 3.5% during 2020-2026.
For the record, fresh food packaging helps in preventing food from contamination as well as change of state from biological, chemical and physical sources. The packaging process improves the shelf life of the product. Moreover, fresh food packaging technique uses convenient, affordable and sustainable packaging materials such as polyvinyl chloride, aluminum, paper and PET.
Growing consumption of perishable food items such as dairy products, fruits & vegetables and meat & poultry products is a major factor driving the growth of fresh food packaging market. The market is expected to further expand owing to rising adoption of RTE (ready to eat) food products. According to Statista, ready meals segment generated USD 240,772 million revenue in 2020 and is projected to grow by 3.9% through 2023. Also, average per capita intake of ready to eat food products was 5.4 kg as of 2020.
Shifting inclination towards innovative packaging techniques in order to enhance the shelf life of fresh food items is also stimulating the industry outlook. However, strict regulatory scenario pertaining to the raw materials employed in packaging sector may restrain the overall market growth.
As per material type, fresh food packaging industry is divided into poly-vinyl chloride (PVC), bopet, aluminum, paper, polypropylene (PP), polyethylene (PE) and others. In terms of pack type, the market is fragmented into fruits, seafood, vegetables, meal production and others.
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Citing the regional scope, North America fresh food packaging market is predicted to expand substantially during the forecast period, primarily due to growing demand for RTE food products.
On the other hand, Asia-Pacific market is set to register a remunerative growth rate through 2026. Strict regulatory framework concerning standardized packaging of food items along with increasing disposable income will fuel the industry outlook in APAC.
The prominent companies operating in global fresh food packaging industry are Silgan Holdings Inc., Mondi Plc., DS Smith PLC, DuPont, Coveris, Smurfit Kappa, Sealed Air Corp., WestRock Co., International Paper Co. and Amcor PLC among others.