Frozen Foods Packaging Market to Surge Past Valuation to US$ 39 Bn by 2022
The global frozen food packaging market is projected to witness substantial growth through the forecast period (2017 to 2022), according to a new market study by XploreMR. The growth of the market is majorly attributed to increasing demand in the food and beverage industry owing to the packaging material's longevity, lightweight, and durability. Furthermore, these materials utilize minimal fossil fuels and are recyclable, which is also boosting the adoption of the packaging amid rising environmental concerns.
As end-users seek eco-friendly materials, the shifting preference is expected to bestow lucrative revenue opportunities to the manufactures of frozen food packaging. Besides, factors such as rapid urbanization in emerging economies and the associated lifestyles are propelling demand for frozen food, thereby subsequently increasing the adoption of frozen food packaging. On the back of these factors, the global frozen food packaging market is forecasted to surge past valuation of US$ 39 Bn by the end of 2022, progressing at a CAGR of 4.9% through the assessment period.
Increasing Preference for Frozen Foods Transmutes into Adoption
In the recent past, there has been a significant change in consumer lifestyles across the globe as a result of long working hours among the working-class population. As a result, consumers have little time to prepare food and are seeking ready-to-eat and frozen foods to save time.
Likewise, rapid urbanization in emerging economies coupled with widening base of the middle-income working population is also expected to act as a major growth driver to the frozen food packaging market. Moreover, increasing uptake of freezer bags, especially in the U.S., will boost the global market in the years to come.
Expansion of E-commerce Bestows Lucrative Opportunities
The advent of e-commerce and online retail has been crucial to the expansion of the frozen food packaging market. With the advent of the emerging meal delivery system, purchasing food products from grocery stores is not the norm anymore as consumers prefer time-effective and convenient options over conventional methods. Catering to consumer demand, market players are partnering with delivery service-providers to deliver frozen foods to consumers' doorstep.
Directly reliant on the sales of frozen food products, the growing demand for frozen foods ensures that the frozen food packaging market will progress on a remunerative path for the years to come. Moreover, the surging need for safe delivery methods has asserted players in the food industry to opt for tamper proof and temperature-controlled packages.
Plastic Materials Remain Highly Sought-out
Manufacturers are utilizing plastic materials to pack frozen food products such as fruits, ice-cream, meat, and vegetables, driving the demand high for plastic bags. The adoption of plastic material - regardless of stringent regulations - can be attributed to the availability of plastic bags in different shapes and physical properties such as resistance to high temperature and durability. On this premise, the plastic is expected to remain the most sought-out packaging material owing to design flexibility and utilization of shelf space.
Competitive Landscape of Frozen Food Packaging Market
Some of the key players operating in the frozen food packaging market include Ball Corporation, Bemis Company, Inc., Crown Holdings, Inc., Graphic Packaging International, Inc., International Paper Company, Pactiv LLC, Sealed Air Corporation, Sonoco Products Company, and WestRock Company, American Packaging Corporation, Berry Plastics, Caraustar Industries, CM Packaging, Emmerson Packaging, Flair Flexible Packaging Corporation, Graham Packaging Company Huhtamaki N.A., LINPAC Group, and Sabert Corporation among others.
Global Frozen Food Packaging Market: Overview
Frozen food products witness significant demand in the food and beverages industry attributed to growing preference for cooked and fresh food products. Surge in the number of working women and disposable income is further expected to impact growth of the global frozen food packaging market positively. Manufacturers are increasingly focusing on providing enhanced packaging solutions for protective packaging of the frozen food products.
The report provides an in-depth insight on various important aspects of the global frozen food packaging market while offering critical analysis on the important segments, factors driving growth of the global market, growth patterns and competitive landscape. According to the report, the global frozen food market is expected to witness a moderate growth attributed to increasing demand for temperature controlled packaging.
Global Frozen Food Packaging Market: Market Dynamics
Growth of the global frozen food packaging market is mainly bound to macro-economic and micro-economic factors. The report reveals various factors that are expected to propel growth of the global market. The global market is significantly driven by enhanced packaging solutions that include temperature controlled and tamper-proof packaging solutions. As manufacturers prefer packages that protect the frozen food products from the extreme climatic conditions and moisture, demand for the frozen food packages are expected to rev up in the global market. Moreover, surge in demand delivery of the food services is further expected to impact growth of the global frozen food packaging market.
Bound to busy lifestyle, the customers mainly prefer ordering food products through the online portals. Growing need to deliver the frozen food products safely has led the manufacturers to integrate features that preserve and protect the quality of the food products. Surge in demand for ice-creams, bakery products, fruits and vegetables continue to rev up demand for the frozen food packages among the manufacturers. Attributed to such factor, the global frozen food packaging market is expected to witness significant growth.
Global Frozen Food Packaging Market: Segmentation
In the next section, the report highlights various segments in the global frozen food packaging market. The global frozen food packages market is segmented on the basis of packaging materials, packaging type, application type and region. The packaging material is segmented as paper & paperboard, plastic, metal and other packaging materials (wood, fiber and glass). On the basis of packaging type, the global frozen food packaging market is segmented as boxes & carton, bags & pouches, containers (plastic containers and metal cans), trays, films and wraps, bottles & jars and others (tubs, bowl and cups). Based on the application type, the global frozen food market is segmented as meat, poultry & seafood, ice cream, baked goods, fruit & vegetables and other application type.
On the basis of packaging materials, the plastic segment is expected to generate significant revenues in the global market. However, the paper & paperboard segment is expected to register a robust CAGR in the global frozen food packaging market. Based on the packaging type, the bags & pouches segment is expected to represent a significant growth in terms of revenue. Moreover, this segment will register an impressive CAGR growth in the global market. By application type, the frozen specialties segment is expected to register the highest CAGR. On the other hand, the meat, poultry and seafood market is expected generate significant revenues in the global market. Europe will continue to remain a leading market for the frozen food packaging products globally.
Global Frozen Food Packaging Market: Key Players
In the last section, the report highlights the major market players operating in the global frozen food packaging market. Key players in the global market of frozen food product are Ball Corporation, Amor Ltd., Crown Holding Inc., Bemis Company Inc., Pactiv LLC., International Paper Company, Sonoco Products Company, Sealed Air Corporation, Berry Global Group Inc., Printpack Inc. and Huhtamaki Oyj.
Frozen Food Packaging Market: Plastic Materials to Dominate the Global Market in Terms of Revenue: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017 - 2022)Buy Now
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