Market Analysis
The Fresh Food Packaging Market will develop at a 4.02% CAGR between 2017- 2023, states the recent Market Research Future (MRFR) analysis. Food packaging plays a crucial part in keeping the quality of food safe and also handling transportation. It offers a modern marketing medium to sellers and aids improve customer satisfaction level and information transmission. Food packaging protects food products against contamination caused by moisture, air, and microorganisms and helps catalytic activity in fresh food. It has wide applications in meat products, dairy products, vegetables, fruits, and others.
Various factors are propelling the global fresh food packaging market growth. According to the recent MRFR report, such factors include government initiatives for food safety, need for small portion food items, demand for single-use packaging, rising population, growing need for convenience food, the extended shelf life of packaged food, increased health consciousness, awareness about the nutritional value of food items, and demand for packaged food to avoid contamination. Additional factors adding market growth include growing sophistication, growing awareness about airborne diseases, concerns about pesticides and other chemicals used on vegetables and fruits, artificial ripening methods, availability of convenient, sustainable, and affordable packaging materials, and advanced technologies like active and intelligent packing.
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On the contrary, environmental effects and disposable management of waste, rising global warming, environmental concerns, and stringent government regulations and rules, and the current COVID-19 impact are factors that may limit the fresh food packaging market growth during the forecast period.
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global fresh food packaging market based on end use and material.
By material, the global fresh food packaging market is segmented into metal, glass, flexible and rigid plastic, paper and paperboard, and others. Of these, the paper segment will lead the market over the forecast period.
By end use, the global fresh food packaging market is segmented into meat products, dairy products, vegetables, fruits, and others. Of these, meat products will dominate the market over the forecast period.
Fresh Food Packaging Market – Geographical Analysis
The Asia Pacific region dominates the global fresh food packaging market. The largest market share attributes to the rapidly spreading awareness about global warming and growing environmental concerns. The emergence of inexpensive and eco-friendly packaging technologies manufactured from recycled material and advanced manufacturing techniques substantiate the regional market growth.
Moreover, rising exports of fruits and vegetables, alongside the growing e-commerce industry in the region, foster the growth of the market. China and India are the key markets for fresh food packaging in the region, providing increasingly lucrative opportunities. The APAC fresh food packaging market is expected to retain its dominance throughout the forecast period.
North America stands second in the global food packaging market. The market growth is driven by the rising demand for fresh produce and the higher disposable income of demographics. Additionally, the vast technological advances and demand for efficient packaging solutions for meat, poultry, and seafood boost the regional market growth.
Furthermore, the burgeoning e-commerce industry, increasing cross-border trade and rising online shopping fuel the market demand in the region. The North American food packaging market is estimated to grow at a significant CAGR during the review period.
Europe is a notable market for fresh food packaging solutions globally. Factors such as the changing lifestyles and increasing trend of nuclear families alongside the increasing demand for smaller packaging drive the growth of the fresh food packaging market in the region. Due to the convenience of storing, single-use packaging is preferred by the retailers/ suppliers of meat products in the region. Resultantly, the fresh food packaging market in the region is growing rapidly.
Global Fresh Food Packaging Market – Competitive Analysis
Fiercely competitive, the fresh food packaging market appears fragmented due to the presence of several well-established players. To gain a significantly larger competitive share, notable players incorporate strategic initiatives such as collaboration, mergers & acquisitions, expansion, and product/technology launch.
Manufacturers keep themselves abreast of the new technological developments and latest consumer trends by developing human capital. They rely on innovation and invest their time & money in developing the latest technologies, increasing productivity and value.
Major Players:
Players leading the global fresh food packaging market are Amcor Limited (Australia), D.S. Smith Plc. (U.K), Smurfit Kappa Group (Ireland), Mondi Plc. (South Africa), Coveris Holdings S.A (U.S.), Bemis Company, Inc. (U.S.), Silgan Holdings Inc. (U.S.), RockTenn Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), and International Paper Company (U.S.), among others.
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Industry/ Innovation /Related News:
September 25, 2020 ---- Stora Enso (Sweden), a leading pulp and paper firm, announced the commencement of production of formed fiber foodservice products named PureFibre. The company's eco-product range is manufactured without plastic and per- and polyfluoroalkyl substances (PFAS), enabling a renewable, biodegradable, recyclable, sustainable, and safe alternative for fresh food packaging. The PureFiber range production commenced following the announcement of an investment in 2019 in additional formed fiber capacity.
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