Fresh Food Packaging Market Outlook 2031
The global fresh food packaging market size was around USD 106.25 billion in 2022 and is anticipated to reach USD 167.68 billion by 2031, expanding at a CAGR of around 5.2% during the forecast period, 2023 to 2031. The growth of the market is attributed to the changing lifestyle patterns and increasing demand for ready-to-eat food among consumers.
There has been a considerable change in terms of social structure and lifestyle patterns, which has led to a growing demand for packaged food. The easy availability of packaged food products across various retail platforms propels the demand for packed food further. Good packaging helps to lower the chances of food products being bruised, damaged, and crushed. It minimalizes the loss of moisture from food items to keep them fresh and give longer shelf life.
The fresh food packaging market demand is getting toward exponential growth than the historic fresh food packaging markets. The use of proper packaging can prevent food wastage by keeping the food quality intact for a longer period of time. Good packaging helps in minimizing the damage during transport and storage.
Packaging has a wide range of options based on the materials used for packaging and the types of food items to be packed. The shelf life of food items is considered an important factor in selecting packaging type. Over the period of time, intelligent and active food packaging solutions such as sensors(biosensors, gas sensors), indicators giving details of freshness and temperature, and data carriers including barcodes are giving a bright future to this fresh food packaging market.
Factors such as the type of packaging and application areas of the fresh food packaging industry should be considered while introducing intelligent packaging solutions like sensors, data carriers, and different indicators. Increasing demand for packaged food products among consumers boosts the demand for various types of food packaging, fueling the fresh food packaging market.
However, there are some challenges faced by the global market because of environmental protection concerns, turbulence in raw material pricing, and different government rules. The integral part of the food packaging market is the consistency in delivering high-quality packaging to consumers and maintaining elevated material performance.
COVID-19 Impact
COVID-19 had an adverse effect on the operating environment of the fresh food packaging industry. Since people became more conscious about food safety, they preferred proper packaging which in turn increased the use of plastic causing pollution. Huge demand for packaging led to disturbed supply chain dynamics for the fresh food packaging market.
Fresh Food Packaging Market Dynamics
The research report presents a complete overview by providing detailed information about the current market trends, existing drivers, growth opportunities and potentials, and emerging challenges. The global fresh food packaging market report has up-to-date insights about market dynamics and market scenarios that can shape the overall market performance and output during the forecast period, 2023 to 2031.
Major Trends:
A current popular trend in the packaging industry is the use of sustainable materials for packing a variety of fresh food items
Sustainable packaging materials enable the safety of food while keeping the quality intact. High standards of safety and good transportation facilities offer great ease in the process of food packaging. Sustainable materials are good for packing food for extended storage purposes. Active sustainable packaging is intended to reduce food waste, which helps to make smart solutions for packaging fresh food.
Key Drivers:
Rapid growth in the per capita disposable income is the primary driver for the fresh food packaging market
Reduction in taxable liability leads to an increase in disposable income among consumers. There is a correlation between the variation in disposable income and the market size of the packaged food industry, which defines the growth of the fresh food packaging market. In recent years there has been a considerable growth in the disposable income of the households, which boosts the consumption rate of packaged food items that propel the fresh food packaging market.
Increasing demand for ready-to-eat food has a huge impact on the fresh food packaging market
Rising household disposable income has resulted in high demand for ready-to-eat food products for easy and convenient availability. Rapid urbanization is a leading factor for exponential growth in the fresh food packaging industry. There is a huge demand for packaged food that can be consumed or cooked instantly. Increasing preference of ordering food online among consumers spurs the growth of the fresh food packaging market.
Existing Challenges:
Fluctuations in the raw material pricing and timely availability of the raw material hamper the global fresh food packaging market growth
Changing prices of raw materials and unavailability of the raw materials cause a disturbance in the supply chain flow. Changing patterns in the regulatory methods and different government norms and policies affect the supply of raw materials, which is anticipated to restrain the global fresh food packaging market during the forecast period.
Emerging Opportunities:
Technological advancements in the food packaging industry offer growth opportunities to the market players
Revolutionized effects such as manufacturing package material with papers offering a natural look and feel as a part of intelligent food packaging contribute to the storage of different types of food items. Technological advancements in the food packaging industry such as smart packaging systems enable a structural way to design well-thought packaging processes with the intent of keeping food safe for a long period of time. Such advanced and innovative technologies are expected to offer lucrative opportunities to the market players in the coming years.
Scope of The Fresh Food Packaging Market Report
The global fresh food packaging market research report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Fresh Food Packaging Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Material (Flexible Plastic, Wood, Glass, Steel, Bamboo, Aluminum, and Others), Type (Rigid and Flexible), and Application (Dairy Products, Fruits, and Vegetables)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Ds Smith Plc; FLAIR Flexible Packaging Corporation; PPC Flexible Packaging LLC; Sealed Air; Mondi; Coveris; FFP Packaging Ltd; DuPont; International Paper Company; Univeg Group; Temkin International Inc; and Others
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Fresh Food Packaging Market Segment Insights
Plastic segment to hold importance in the fresh food packaging market
Based on material segment, the fresh food packaging market is divided into flexible plastic, wood, glass, steel, bamboo, aluminum, and others. The plastic segment is expected to dominate the global fresh food packaging market during the forecast period, as plastic is considered an indispensable packaging market that is used on a big scale across the food packaging industry.
Plastic is more flexible and inexpensive as compared to other materials such as glass, cardboard, cans, and others. Plastic facilitates easy to transport as well. The aluminum foil segment is estimated to expand in the coming years, owing to the malleability and ability of these foils to be easily converted into thin sheets which can be folded, rolled, or packed easily.
Aluminum foils create a barrier to light, oxygen, flavors, and germs, which helps the food retain its quality for a very long time. Aluminum is helpful in maintaining the freshness of the food. Aluminum foils are used broadly in the food industry for packaging all kinds of food items such as refrigerated packaged food.
Flexible packaging segment to grow rapidly
Based on type, the fresh food packaging market is divided into two subsegments that are rigid and flexible. The flexible segment is projected to register a high CAGR during the forecast period, as flexible packaging offers ease to packaging. Flexible packaging contains lightweight bags or heat-sealed pouches, which are highly customizable. Flexible packaging is cost-effective and easily available, which boosts its demand in the global market.
The rigid segment is estimated to hold a key market share in the coming years, as it offers great protection from compression or perforation. Rigid packaging mainly includes cans, boxes, glass containers, and others. Rigid packaging helps keep liquid food items safe and leakproof. The high demand for high-quality and heavy rigid packaging is expected to drive the fresh food packaging market in the coming years.
Packed vegetables to hold key market share
In terms of application, the global fresh food packaging market is segregated into dairy products, fruits, and vegetables. The vegetable packing market is been showing fast growth with sustainable progress based due to the increase in packed food consumption. There are several packaging options are available in the market depending on the nature of the food item like solid or liquid, food item size, and durability.
The dairy segment is estimated to account for a high market revenue during the forecast period, as the majority of households buy dairy products daily. Dairy products are also the most bought items in every household on a daily basis so there is a huge demand in smart dairy product packaging options. The consumption rate for dairy items is rapidly increasing so in turn it is leading to the growth of the fresh food packaging market.
Asia Pacific to dominate the global market
According to regions, the global fresh food packaging market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is considered to be the most dominating in the global fresh food packaging market holding a large revenue share during the forecast period.
Growth in the population, rise in the disposable income of the households, and high standards of living across the region have accelerated the demand for smart food packaging options in Asia Pacific. The high presence of leading fresh food packaging companies that offer innovative and smart packaging solutions in the region boosts the fresh food packaging market in Asia Pacific.
The fresh food packaging market in Middle East & Africa is anticipated to observe a potential growth rate in the coming years, owing to the high demand for dairy products, meat, and seafood applications in the packed food market Increasing population in the region prefers convenient and packaged food that fuels the growth of the fresh food market in Middle East & Africa.
Segments
The global fresh food packaging market has been segmented on the basis of the following segments
Material
- Flexible Plastic
- Wood
- Glass
- Steel
- Bamboo
- Aluminum
- Others
Type
Application
- Dairy Products
- Fruits
- Vegetables
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Ds Smith Plc
- FLAIR Flexible Packaging Corporation
- PPC Flexible Packaging LLC
- Sealed Air
- Mondi
- Coveris
- FFP Packaging Ltd
- DuPont
- International Paper Company
- Univeg Group
- Temkin International Inc
- others
Competitive Landscape
Key players competing in the global fresh food packaging market are Ds Smith Plc; FLAIR Flexible Packaging Corporation; Sealed Air; Mondi; Coveris; FFP Packaging Ltd; DuPont; International Paper Company; Univeg Group; Temkin International Inc; and others. Some of these major companies have adopted various business development strategies including acquisitions, mergers, collaborations, partnerships, product launches, and production capacity expansion to expand their consumer base and enhance their market share.
- In March 2022, FLAIR Flexible Packaging Corporation launched an innovative packaging solution that offers a natural look and feel of paper. The tactile paper solution of the company has great texture and durability.
- In October 2021, PPC Flexible Packaging LLC was acquired by GTCR in order to expand packaging solutions and integrate new packaging ways.
- In March,2022 Mondi, a global packaging provider, showcased sustainable packaging solutions for intelligent packaging such as sensors, indicators, and others in Fachpack, a global trade fair for packaging and packaging machinery.
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