Rockville, Feb. 14, 2023 (GLOBE NEWSWIRE) -- The global fresh food packaging market is currently valued at US$ 150 billion and is predicted to evolve at a CAGR of 5% from 2022 to 2032, as per the latest data released by Fact.MR, a market research and competitive intelligence provider.
The market for food packaging is growing due to the rising demand for high-quality food with a longer shelf life. Information about how to use, recycle, and dispose of the product is included in the packaging.
Convenience and ready-to-eat food consumption have expanded as a result of consumers' busy lifestyles. This has led them to prefer items with convenient and ecological packaging, which is projected to increase the demand for fresh food packaging materials.
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Key Takeaways from Market Study
- The fresh food packaging market is set to reach US$ 245 billion by 2032.
- Demand for polypropylene is anticipated to rise at a CAGR of 5.2% from 2022 to 2032.
- Market in Germany is set to evolve at a CAGR of 3% through 2032.
- Market in Canada is expected to increase at a 3.5% CAGR over the forecast period (2022-2032).
“Flexible packaging of products has been made possible with the advent of cutting-edge technology, such as intelligent packaging and active packaging, which have gradually evolved over the years. Other approaches such as antimicrobial packaging and aseptic packaging provide increased fresh food safety, paving the way for target market growth,” says a Fact.MR analyst
Winning Strategy
Fresh produce storage and delivery are more expensive since careful handling is necessary to shield the products from damage during the process. Top market players are creating new items as a result to satisfy particular consumer desires. For better marketing alternatives, major industry participants are creating inventive solutions, including effective oxygen barriers, bio-based raw materials, and other printing capabilities.
For instance,
- Smurfit Kappa partnered with Mitsubishi HiTec Paper, to develop sustainable food packaging solutions.
- Amcor introduced Amite Ultra Recyclable, the first packaging product created using the organization's ground-breaking, more environmentally friendly high-barrier polyolefin film.
- In 2021, ProAmpac, a pioneer in flexible packaging and material science, acquired Ultimate Packaging. ProAmpac will be able to strengthen its position in the market with the support of Ultimate, which specializes in creative packaging solutions that increase product shelf life, ease, and reusable product range.
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Market Frontrunners
- COVERIS
- Pactiv
- Amcor
- Bemis Company
- Sealed Air
- Smurfit Kappa Group
- Anchor Packaging
- BALL
- Berry Plastics Group
- Interflex Group
- International Paper
- Leucadia National
- LINPAC Packaging
- Reynolds
- Sonoco Products Company
- WestRock Company
Competitive Landscape
To meet consumer demand, top market players are focusing on offering unique packaging solutions. Leading companies in the fresh food packaging industry are experimenting with innovative approaches to improve the quality of their products and boost their brand positions in the market.
For instance :
- Sealed Air recently revealed the acquisition of MGM's flexible packaging division to boost its global footprint and broaden its product offering.
Key Segments of Fresh Food Packaging Industry Research
- By Material :
- Polypropylene
- Polyethylene
- Paper
- Aluminum
- Others
- By Packaging Type :
- Rigid Packaging
- Flexible Packaging
- By Application :
- Meat & Seafood
- Fruits & Vegetables
- Dairy Products
- Others
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Questions Covered in the Fresh food packaging market Report
- What is the projected value of the Fresh food packaging market in 2023?
- At what rate will the global Fresh food packaging market grow until 2033?
- Which are the factors hampering the growth in the Fresh food packaging market?
- Which region is expected to lead in the global Fresh food packaging market during 2023 to 2033?
- Which are the factors driving the Fresh food packaging market during the forecast period?
- What is the expected market value of the Fresh food packaging market during the forecast period?
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global fresh food packaging market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of material (polypropylene, polyethylene, paper, aluminum, others), packaging type (rigid packaging, flexible packaging), and application (meat & seafood, fruits & vegetables, dairy products, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
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