The North America fresh food packaging market is expected to surge at a CAGR of 2.28% throughout the forecast period. High disposable incomes and rising expenditure on fresh food consumption in North American countries is significantly driving the demand for fresh food packaging solutions in this region. The presence of major market players including Sealed Air, Mondi, and Smurfit Kappa is also contributing to the market growth of fresh food packaging in North America. Rising awareness regarding the harmful impact of additives in processed food items is also a shifting trend towards the consumption of fresh food items, thereby bolstering the fresh food packaging market growth in North America. People are more focusing on home-cooked meals and eating fresh fruits and vegetables instead of processed items which is encouraging packaging manufacturers to focus more on fresh food packaging solutions. The presence of a large number of global supermarket chains in the U.S. and Canada along with increasing expansion by these companies in an emerging market like Mexico is also supporting the market growth of fresh food packaging across this region. Another factor that is fuelling the demand for fresh food products is the rising incidence of chronic diseases in North American countries. As such, governments are also taking initiatives to boost the consumption of fresh food products so as to reduce the cases of chronic diseases. According to the Canada Diabetes Association, around 90% of diabetic Canadians have type 2 diabetes. Furthermore, strict packaging and labeling regulations in North American countries also increase the confidence among consumers regarding the freshness and quality of fresh food items. This, in turn, will continue to drive the market for fresh food packaging in North America during the forecast period. For example, in January 2017, USDA funded the Healthy Food Financing Initiative (HFFI) through the Reinvestment Fund to improve access to fresh, healthy food in rural areas. Programs such as Know Your Farmer and Know Your Food Initiative have led to a dramatic rise in consumer demand for local fresh food products. The growing volume of exports of various fresh food products from these countries to different parts of the world is also a driving factor for the growing market of fresh food packaging in the region. Moreover, a growing emphasis on the trade of agricultural products among USMCA member countries will further propel the market growth of fresh food packaging in North America during the next five years.
The North America Fresh Food Packaging market has been segmented on the basis of the material, application, and geography. By material, the market has been segmented as plastic, paper and board, glass, and metal. By application, the North America fresh food packaging market has been classified into poultry and meat products, dairy products, produce (vegetables and fruits), seafood, and others. By country, the market has been segmented into U.S, Canada, and Mexico. By material, plastic holds the major market share throughout the forecast period on account of increasing investments in R&D to develop innovative yet sustainable plastic packaging. However, growing environmental concerns regarding the harmful impact of plastic waste on the environment will drive the demand for paper and board as a fresh food packaging material, thereby driving the market growth of paper and board packaging market. In December 2019, Cascades launched a fully recyclable cardboard tray, certified according to Forest Stewardship Council® (FSC®) standards, for fresh food packaging in the North American market. By application, produce (vegetables and fruits) accounted for the highest share in the North America fresh food packaging market till the end of the forecast period. This dominance is attributed to the growing trade volume of produce across the region. By country, the U.S. is the major market for fresh food packaging companies during the forecast period.
Prominent key market players in the North America fresh food packaging market include Mondi, DS Smith, Amcor Plc, Sealed Air, Sonoco Products Company, NNZ, Inc., and Cascades inc. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the North America 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.
Sonoco Products Company
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