The global fresh food packaging market is expected to grow at a compound annual growth rate of 4.20% over the forecast period to reach a market size of US$112.789 billion in 2026 from US$84.562 billion in 2019.
Food products are packed using several materials to protect them from adverse environmental conditions such as weather adversities, pollution, dust, etc. Packaging of fresh food is also required for the transportation of produce to avoid any physical damage and wastage. The growing demand for convenience food items and an effort to improve the shelf life of fresh food products using innovative packaging solutions are the major driving factors behind 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 is projected to grow at an impressive rate owing to rising disposable income and increasing population during the forecast period. the primary reason for the increase in the demand for fresh food packaging materials is the burgeoning demand for fruits and vegetables, poultry and meat products across the globe. Another reason behind the surge in the demand for fresh food packaging solutions is the rising consumer preference for convenience food products. The key reasons for the rise in demand are the shift of consumers towards a healthy lifestyle and a high purchasing power. The examples of convenience food in this segment are salad bags, fresh herbs packs, chopped vegetable bags, vegetable trays, single-serve salad packaging, etc. all of which require fresh food packaging products such as paper and board, plastic, glass, etc. In the emerging markets of BRICS and MENA, the growing demand for such food items is increasing due to the tendency of consumers to buy off-the-shelf fresh food items. Hence, the increasing demand for convenience food items is driving the market for fresh food packaging. To meet the increasing demand for fresh food items, the FMCG industry is consuming a significant amount of packaging products. The key players in the fresh food packaging market produce specialized packaging solutions to meet the growing demand. For instance, Bemis Company, Inc. provides flexible packaging solutions. The prominent players in the market are adopting various strategies such as mergers and acquisitions, collaborations, expansion, etc. to maintain their position in the market and to meet the rising demand for fresh food packaging material. For instance, on World Idly Day, iD Fresh Food, one of India’s giant fresh food brands, announced the launch of a Giant Home Kitchen which is a state-of-the-art facility and one of the world’s largest Idly and Dosa batter preparation and packaging plant in Anekal, Karnataka. The investment in this plant is close to INR 40 crores.
The Global Fresh Food Packaging Market is segmented on the basis of Type, Mode of Application, and Geography.
Over the last few years, there has been a significant increase in the consumption of fresh food products. The key drivers of demand for fresh food products in these regions are increasing population, rapid urbanization, high disposable income of the people, and increasing health awareness amongst the consumers, which in turn will increase the demand for fresh food packaging material like plastic, glass, paperboard, etc. The demand for fresh food products in developing countries like India and China is expected to grow further during the forecast period.
The major factor which can hinder the growth of the fresh food packaging industry is the problems faced while disposing of the packaging material such as glass, plastic, etc. this problem is being faced by all the countries, globally. The governments of various countries have been imposing regulations and restrictions concerning the disposal of packaging material which could halt the growth of the fresh food packaging industry. For instance, In Europe, the regulations for plastic landfills are extremely stringent. The European Union intends to achieve ‘zero plastics to landfill’ by 2025. Due to the growing concerns related to environmental pollution, packaging companies are focusing on shifting towards eco-friendly solutions for environmental sustainability. To adhere to the three ‘R’s of eco-friendly packaging: renew, reuse, and recycle green packaging products are being designed. The governments of emerging economies are encouraging packaging solution providers to provide eco-friendly products. The reason behind this because eco-friendly packaging products are made of natural bio-polymer, which is more flexible than traditional plastic. Fresh food packaging can be made using eco-friendly packaging materials, such as bioplastics, recycled papers, forest wood, and palm leaf.
Impact of COVID-19
The global fresh food packaging market had witnessed a moderate decline in its growth rate in the years 2020-2021, as the fresh food packaging used for meat products and seafood witnessed a significant decrease in its demand due to the people being apprehensive about consuming such products. In India, the terror of the Bird Flu in various parts of the country was also a reason for this decline as people at large were avoiding products related to chicken. However, significant growth in the demand for fresh food packaging in the fruits and vegetable market during the COVID-19 pandemic has been recorded. The main drivers for this sudden surge in demand were, people resorting to panic buying and bulk stocking of fresh food items due to the fear of lockdown. The number of people ordering daily staples through online channels increased massively which lead to an increase in the demand for fresh food packaging.
Prominent/major key market players in the global fresh food packaging market include are Smurfit Kappa Group PLC, Sealed Air Corporation Ltd., Bemis Company, Inc., AMCOR PLC, Amcor Limited, Sonoco Products Company, and LINPAC Packaging, Ltd., among others. The players in the Global Fresh Food Packaging Market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the Global Fresh Food Packaging Market.
Fresh Food Packaging Market Scope:
|The market size value in 2019||US$84.562 billion|
|The market size value in 2026||US$112.789 billion|
|Growth Rate||CAGR of 4.20% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East, and Africa, MEA, Asia Pacific|
|Companies covered||Mondi PLC, DS Smith PLC, Coveris Holdings S.A., Bemis Company, Inc., Smurfit Kappa, Sealed Air Corporation, Amcor Limited, LINPAC Packaging, Sonoco Products, AEP Industries|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the fresh food packaging market size by 2026?
A1. The global fresh food packaging market is expected to reach a total market size of US$112.789 billion by 2026.
Q2. What is the size of global fresh food packaging market?
A2. The global fresh food packaging market was valued at US$84.562 billion in 2019.
Q3. What are the growth prospects for the fresh food packaging market?
A3. The fresh Food Packaging market is expected to grow at a CAGR of 4.20% during the forecast period.
Q4. What factors are anticipated to drive the crop protection chemicals market growth?
A4. The growing demand for convenience food items and an effort to improve the shelf life of fresh food products using innovative packaging solutions are the major driving factors behind the fresh food packaging solutions.
Q5. Which region holds the largest market share in the fresh food packaging market?
A5. The Asia Pacific region is projected to hold a significant share in the fresh food packaging market owing to rising disposable income and increasing population during the forecast period.