The frozen food packaging market is projected to grow at a CAGR of 5.05% to reach a value of US$28.537 billion by 2025, from US$21.234 billion in 2019.
The changing lifestyle, taste and preferences of the individuals has resulted in an increased demand for the different types of convenience food, which is causing a surge in the demand for frozen food packaging solutions
The growth in urbanization has paved the way for a surge in the disposable income of the individuals and increased their spending power. However, their corporate and work lives have become harder, as they have to put in more effort at work. This has resulted in a majority of the working class individuals having less time to cook proper and traditional foods at home and shifted their consumption preference towards frozen food products.
In addition, as the number and the participation of female workers have increased in corporate jobs at different levels, the consumption of frozen items has risen significantly and resulted in a rise in the demand for frozen food packaging solutions and thus is augmenting the market growth.
The governments of many countries such as India, the UK, and the US have imposed lockdowns, thus hindering the movement of individuals freely, except for purchasing of essential products such as food and beverages or daily requirement products, in order to control the spread of disease, effectively. This has resulted in a majority of the individuals to shift their food consumption choices to frozen food items such as frozen dairy products, meat, and seafood products instead of fresh products owing to the extended shelf life the former products offer. Hence, this is leading to an increased demand for frozen food packaging solutions and is contributing to the market growth.
Guidelines and restrictions in place that regulate the packaging process and proper storage of the packaged foods.
There are strict guidelines and regulations that the market players must adhere to in order to ensure food quality assurance. There are some materials, such as special composite materials and films, which have adequate barrier properties and sealing properties that must be used in order to prevent the soiling, microorganisms infestation, moisture, and other contaminants that can deteriorate the quality of the food.
Moreover, there are strict labeling requirements that need to be adhered to, such as the additional information that must be printed on the packaging material for the reference of the consumer or other end-users. Some of these necessary guidelines include- the date of manufacturing and the best before date, the temperature the product needs to be stored to prevent spoilage, labeling that mentions whether the product is flash-frozen, deep-frozen, etc. among other essential information.
Thus, these regulations encourage the market players to adhere to them strictly in order to prevent losses or penalties and thereby contribute to the growth of the market.
Product Offerings by Major Market Players in the Frozen Food Packaging Market Space
The offering of better and advanced frozen food packaging material and products with enhanced protection, quality, and durability among other properties by the existing and new players in different markets is estimated to lead to increased adoption and propel the market growth further over the forecast period.
One of the examples of product offering is as follows:
The North American region to hold a notable share over the forecast period and the Asia Pacific region is expected to witness a substantial increase in its market share over the forecast period
The North American region is expected to hold a notable share over the forecast period owing to the fact that there is are a wide variety of packaging solutions available for the packaging of frozen food effectively. In addition, there are a majority of individuals that are into eating fried food and frozen meats and products, which is adding to the demand and contributing to the market share of the region.
In addition, the Asia Pacific region is expected to witness a substantial increase in its market share over the forecast period, which is attributable to the fact that there are increasing investments and initiatives being taken in order to improve the standing of the packaging industry in countries such as India. In addition, the rising disposable income and increasing the consumption of meat and poultry items are increasing the demand for frozen foods and other types of convenience food.
Trays, Bags, and Pouches hold considerable share and witness significant growth over the forecast period.
Trays are an increasing poplar packaging solution, which is used for the packing of frozen food such as frozen poultry meat and frozen red meat, seafood, and fruits and vegetables. It is expected to hold a considerable share over the forecast period owing to the fact the consumption of meat is growing among the population owing to the changing tastes and preferences of the individuals.
In addition, the bags and pouches are also gaining popularity among the frozen foods packing companies and manufacturers, as there has been an increase in the demand for ready to cook foods such as French fries, burger patties and other types of fired food, which is pushing it to witness significant growth over the forecast period.
Segmentation:
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