Asia Pacific fresh food packaging market is expected to grow at a CAGR of 5.26% over the forecast period. China and India are expected to be the dominating countries in the fresh food packaging market. The main drivers of the Asia Pacific fresh food packaging market are the new and emerging packaging technology, the requirement for the extension of the shelf life of fresh fruits, and consumer awareness about health concerns. These are increasing the market in various countries across the Asia Pacific region. The need for new technologies for improving the quality of packaging for providing better safety and protective measures for enclosed food for stopping it from spoiling on the transits. The rise of new technologies like active packaging, intelligent packaging, Modified Atmospheric Packaging (MAP), antimicrobial, and aseptic packages are boosting the demand for the use of eco-friendly products as raw materials. The need for safe and intact fresh food is very high among the conscious health consumers; this has grown the requirement for strong and durable packaging materials. The increasing disposable income and changing lifestyle are increasing the awareness about healthy eating habits like being more focused on eating fresh food more in quantity than cooked food for getting high nutrients from the food directly. This is increasing the need for fresh food packaging. The threat of fresh fruits and vegetables being sprayed with chemicals, pesticides and the use of artificial ripening methods used by street vendors are further increasing the need for fresh food packaging.
The fresh food packaging market growth is facing hindrance due to strict government regulations and rising raw material costs. The increasing cost of raw material is further raising the cost of final products, thereby making it expensive for manufacturers to sell goods at a high price. The stringent government rules and regulations for packaging are also slowing market growth. The government across the Asia Pacific region is opposing the use of plastic as they are non-biodegradable and cause harm to the environment. The increasing environmental concerns are forcing government across the Asia Pacific region to take strict actions for curbing down the global warming. The fresh food markets have opportunities like the use of innovative eco-friendly packaging materials for reducing the government restrictions and for providing a better environment-friendly product. The growing vegan population in countries like India can be also an opportunity for expanding their market share.
The Asia Pacific Fresh Food Packaging market has been segmented based on the material and application. By material, the market has been segmented as plastic, paper and board, glass, and metal. By application, the South Korean fresh food packaging market has been classified into poultry and meat products, dairy products, produce (vegetables and fruits), seafood, and others. By material, plastic holds a significant market share due to the huge demand for plastics for packed fresh meat products in various Asia Pacific countries. The strict government rules and regulations regarding the banning of plastic due to being a non-biodegradable product to cause reduction of plastic in most of the Asia Pacific countries. This will further grow the demand for paper and board for using as a raw material in the packaging market. The increase of paper and board for carrying fresh fruits and vegetables to further grow its demand in the market. By application, produce (vegetable and fruits) accounted for a major market share in 2019. The market for produce (vegetables and fruits) is due to the increase in farming activities in developing countries like India and China. India and China together will amount to the major share of crop production in the world. The poultry & meat and seafood segments is poised to grow in the forecast period. The seafood and poultry have a major market here in countries like Japan and South Korea. The emerging popularity of seafood in countries like India would further drive the market for this segment.
Prominent key market players in the Asia Pacific fresh food packaging market include Amcor PLC., Mondi, BALL CORPORATION, Sealed Air,Hangzhou Zhongsu Packaging Materials Co., Ltd, Sonoco Products Company, International Paper, and Crown Holdings, Inc. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the Asia Pacific fresh food packaging market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.
Crown Holdings, Inc.
Sonoco Products Company
Hangzhou Zhongsu Packaging Materials Co., Ltd
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