The fresh food packaging market is expected to reach US$93.445 billion by the end of 2023, increasing from US$74.408 billion in 2017, growing at a CAGR of 3.87% during the forecast period. Food products are packed using a number of materials to protect them from adverse environmental conditions. In addition, the packaging is required for the transportation of produce to avoid any physical damage and waste. Growing demand for convenience food and an effort to improve the shelf life of the fresh food are the major driving factors for the fresh food packaging solutions. Budding awareness regarding global warming is motivating companies to introduce cost-effective and biodegradable packaging solutions. However, disposal of food waste while packaging remains a major concern for the companies and this might restrict the demand for fresh food packaging solutions. The Asia Pacific region held a significant market share in 2017 and is projected to grow at an impressive rate owing to rising disposable income and increasing population over the forecast period.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the pressure sensors value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are Smurfit Kappa, Sealed Air Corporation, Bemis Company, Amcor Limited, Sonoco Products, and LINPAC Packaging among others.
The fresh food packaging market has been analyzed through following segments:
Paper and Board
Poultry and Meat Products
Produce (Vegetables and Fruits)
Middle East and Africa