Market size – $ 39.78 billion in 2020, Market Growth – at a CAGR of 5.5%, Market Trends – Growing Demand for Sustainable Frozen Food Packaging
NEW YORK, July 26, 2021 / PRNewswire / – Global Frozen Food Packaging Market Size Expected to Reach $ 60.58 billion in 2028 and register a CAGR of 5.5% during the forecast period, according to a latest report from Reports and Data. The rapid revenue growth of the global frozen food packaging market can be attributed to the increase in the international trade of frozen food products, the improvement of transportation facilities and logistics, and the increase in the consumption of frozen food products in emerging markets of South America and Asia Pacific. The emergence of innovative refrigerator displays in supermarkets, advancements in freezing technologies and the presence of a better and faster supply chain are contributing to the increase in sales of frozen food and packaging solutions. that are necessary to prevent food spoilage. Technological advancements in the cold chain and developments in the retail landscape are driving the revenue growth of the market. Advances in technology have helped flexible packaging manufacturing companies develop more improved packaging designs and deliver new types of films.
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The increasing penetration of online food delivery services in developing countries is supporting the growth of the frozen food packaging market. The convenience offered by online grocery channels is a key factor driving sales of frozen meat, vegetables and ready meals. The shift in preference towards sustainable packaging is driving the demand for more environmentally friendly alternatives in packaging materials for frozen foods, including molded pulp, paper and bioplastics. Major players such as ProAmpac LLC, Smurfit Kappa Group, American Packaging Corporation and Amcor plc are increasingly investing to meet the growing demand for sustainable packaging solutions.
Some highlights of the report
- In March 2020, Sonoco Products Company collaborated with Tellus, a packaging company based in Florida, in the United States, introduced the sugarcane fiber bowl. The Fiber Bowl is the first product launched by the company which is a 100% American sourced sugarcane fiber bowl for chilled, prepared and frozen foods. The fiber bowl is Natrellis brand and is double oven, PFAS free, and acts as an alternative to traditional rigid plastic packaging.
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- The revenue of Bags segment is expected to register rapid growth rate during the forecast period. The increase in frozen food consumption due to increased disposable income and changing lifestyle of consumers is driving the demand for frozen food bags.
- The plastics segment is expected to account for a considerably large revenue share in the global frozen food packaging market due to excellent barrier properties. Plastic packaging is widely used for the packaging of frozen food products due to its ability to maintain the quality of the contents.
- The revenues of the meat, poultry and seafood segment are expected to increase significantly during the forecast period.
- Asia Pacific The frozen food packaging market revenue is expected to increase at a rapid CAGR during the forecast period. The growing penetration of online food delivery services and the growing demand for frozen meats are expected to increase the use of frozen food packaging in countries in the region.
The main market players are:
- ProAmpac LLC
- Sonoco products company
- American packaging company
- Amcor plc
- Berry Global, Inc.
- Cascades inc.
- Sealed airline
- Smurfit Kappa Group
- Saber Company
- WestRock Company
For the purpose of this report, Reports and Data has segmented the global frozen food packaging market on the basis of packaging type, material, product, and region:
- Packaging Type Outlook (Revenue, USD Billion; 2018-2028)
- Tubs and cups
- Hardware Channel Outlook (Revenue, USD Billion; 2018-2028)
- Paper and cardboard
- Product Channel Outlook (Revenue, USD Billion; 2018-2028)
- Meat, Poultry & Seafood
- Fruits and vegetables
- Ready meals
- Ice cream
- Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of the APAC
- Latin America
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of the MEA
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