Newark, July 06, 2022 (GLOBE NEWSWIRE) -- According to the new report published by The Brainy Insights., the global fresh food packaging market is anticipated to grow from USD 83.10 billion in 2020 to USD 110.99 billion by 2028 at a CAGR of 3.68% during the forecast period 2021-2028.
Get Sample PDF Brochure: https://www.thebrainyinsights.com/enquiry/sample-request/12570
Growing disposal income and rising awareness regarding hygienic food products of the people around the world will have a significant impact on the growth of the global market. Furthermore, many advantages of fresh food packaging, such as protection, containment, preservation, proper usage, and easy communication, will support the growth of the market.However, strict regulations and rules regulating raw materials used for packaging materials can impede the market growth. Changes in regulatory regimes and operational tax affairs in different countries can adversely affect market players in expanding the global fresh food packaging market. Those conditions are likely to hinder the growth of the global market for fresh food packaging.
Food packaging means packaging for food.A package offers safety, tamper resistance, and specific physical, chemical, or biological requirements.Packaging fresh food helps to store the product longer. Customers are quickly demanding affordable, convenient, and sustainable packaging materials such as PET, paper, aluminum, and polyvinyl chloride, which in effect increases the packaging rate for poultry and meat products, fruit and vegetables, and dairy products.Fresh food packaging has many objectives such as physical safety, protection of barriers, transmission of information, containment or agglomeration, marketing, convenience, security and control of portions.
For more information in the analysis of this report, speak to research analyst: https://www.thebrainyinsights.com/report/fresh-food-packaging-market-12570
The introduction of advanced technology such as intelligent packaging and active packaging slowly developed over the years allows for flexible packaging of foodstuffs. Other solutions including Modified Atmospheric Packaging (MAP) and antimicrobial and aseptic packaging deliver advanced fresh food safety, thereby fuelling the manufacturers' growth prospects. The rise is supposed to be challenged by environmental concerns and increasing global warming. But rising demand for improved food quality and extended shelf-life is projected to drive the fresh food packaging market positively.
Key players operating in the global fresh food packaging marketinclude Amcor PLC, Bemis Company, Inc., Coveris , DS Smith PLC, Dupont, International Paper Company, Mondi PLC, Sealed Air Corporation, Silgan Holdings Inc., Smurfit Kappa and WestRock Company among others.The major players are now focusing on introducing strategies such as embracing innovative technologies, product developments, mergers & acquisitions, joint ventures, collaborations and partnerships to enhance their market position in the global fresh food packaging industry.
• For instance, in January, 2020, Amcor PLC partnered with Moda (New Zealand) to deliver innovative packaging solutions, in Latin America and North America.
• In November, 2019, to develop a new form of innovative and recyclable food-safe packaging, Smurfit Kappa collaborated with one of its partners, Mitsubishi HiTec Paper (Germany).
• In April, 2019, Amcor released its first packaging product, Amite Ultra Recyclable, made from the company's revolutionary, more sustainable polyolefin high-barrier film. This will reduce the carbon footprint of a product by up to 64 per cent.
• In November, 2018, WestRock Company announced that its acquisition of KapStone Paper and Packaging Corporation (US) is complete.
Interested to Procure The Data? Inquire here at: https://www.thebrainyinsights.com/enquiry/buying-inquiry/12570
The polypropylene (PP) segment held the largest market share of around 26.2% and a market value of around USD 21.77 billion in 2020.
The material segment is divided into polyethylene (PE), paper, bopet, polypropylene (PP), aluminum, poly-vinyl chloride (PVC), others.Polypropylene has a high melting point which makes it especially suitable for food packaging products that are used in microwaves or washed in dishwashers. Therefore, the polypropylene (PP) segment held the largest market share of around 26.2% and a market value of around USD 21.77 billion in 2020.
The fruits and vegetables segment is projected to grow at the highest CAGR of around 4.1% over the forecast period.
The applicationsegment includes meat and seafood, fruits and vegetables, dairy products and others.The tremendous increase in fruit and vegetable demand is projected to drive the fruits and vegetables segment growth. Therefore, the fruits and vegetables segment is anticipated to grow at the highest CAGR of around 4.1% over the forecast period. Moreover, introduction of smart packaging technology is projected to boost sales and prevent damage and spoilage.
Regional Segment Analysis of the Fresh Food Packaging Market
• Europe (Germany, U.K., France, Spain, Italy, Rest of the Europe)
• North America (U.S. , Mexico, Canada)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
• South America (Brazil and Rest of South America)
• Asia-Pacific (China, Japan India, Rest of APAC)
Due to rising exports of fruits and vegetables from China and India, the Asia Pacific region emerged as the largest market for the fresh food packaging, with USD 29.58 billion market value in 2020.With growing awareness of global warming and environmental issues, the advent of environmentally friendly packaging solutions that are affordable and manufactured from recycled material and eco-friendly fresh food packaging techniques has propelled the fresh food packaging market towards growth. Moreover, the e-commerce platform in the fresh food industry has also gained tremendous popularity in the region, hence increasing demand for fresh food packaging.Increasing environmental issues, rising awareness of global warming combined with the availability of solutions such as environmentally friendly packaging in North America is expected to accelerate market growth. Therefore, North America is projected to grow throughout the forecast period at a healthy CAGR of around 4.2% over the forecast period.
Direct purchase a single user copy of the report: https://www.thebrainyinsights.com/buy-now/12570/single
About the report:
The global fresh food packaging market is analysed on the basis of value (USD billion).All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: http://www.thebrainyinsights.com
