Growing Innovations in Fresh Food Packaging
The global fresh food packaging market is expected to grow at a compound annual growth rate of 4.20% to reach a market size worth US$112.789 billion by 2026. This market was valued at US$84.562 billion in 2019. Food requires careful and sanitized packaging since there is a time gap in between the production of the food and its consumption. Food products, such as fruits and vegetables, get rotten easily if they are not packed and stored at a desirable temperature and manner. Moreover, food production growth is far less than the population growth rate and food demand, creating food insecurity around the world. Hence, proper packaging is crucial to prevent food wastage and spoilage.
The prime reasons booming the growth of the fresh food packaging market globally are the booming demand for convenience food items and the technological advancement of a packaging method that enables the extension of the shelf life of food products. A shift in dieting trends is also influencing the growth of the fresh food packaging market during the forecasted period. However, disposal and eco-friendliness of the material used to pack the food product may constrain the market growth.
Growing Demand for Convenience Food Items Will Fuel the Market for the Fresh Food Packaging Industry
Burgeoning lifestyle standards along with surging disposable income have resulted in high purchasing power and desirability of a healthy lifestyle. This has, in turn, led to a surge in the demand for convenience food products. Convenience food is the segment of the food industry that includes salad bags, chopped food bags, chopped vegetable bags, vegetable trays, and others, that making cooking less time consuming and employ fresh food packaging modes to deliver the product from producer to the consumers. Plastic bags or paper and boards are used to pack these cut food and vegetables to be delivered to the consumers. Furthermore, this packaging helps in the extension of the shelf life of the food products and facilitates easy transportation. Plastic bags can be designed in various sizes, and hence enable producers to offer quantity options to their consumers. by locking out moisture and water, food packaging keeps the food fresh and rotten-free over a long time. Also, technological innovation in the industry is expected to increase the shelf life of the packed food.
Meat, Poultry, and Seafood Are Expected to Show Robust Market Demand During the Forecasted Period
The Global fresh food packaging market is divided on the basis of application as meat and poultry, fruits and vegetables, seafood, Dairy Products, and others. during the forecasted period, meat, poultry, and seafood are anticipated to hold a noteworthy share of the market. The prime reason being a significant surge in the popularity of a protein-based diet. Consumers who consumed a carbohydrate-rich diet are now shifting towards a protein, vitamins, and minerals-based diet for better muscular growth. The rising gym culture among youth along with the availability of cheap and convenient fitness activities such as yoga, aerobics, and Zumba has encouraged consumption of a protein diet for better muscular growth. Furthermore, growing awareness regarding the benefits of a protein diet is supporting the growth of the meat and poultry industry. Hence the industry is increasingly adopting advanced food packaging methods to deliver fresh food products. The fruits and vegetable segment of the market will also show notable growth owing to a surge in consumption for better health.
Plastic Food Packaging Will Have a Major Share in the Market. However, Rising Environmental Concerns and Plastic Disposable Issues May Constrain the Market Growth
Based on type, the global fresh food packaging market is segmented into plastic, paper and board, glass, metal, and others. The plastic food packaging method is anticipated to outstand the market and grow at a considerable rate during the forecasted period. Plastic packaging is spill proof and does not let the outer environment influence the packed product. The packaging is water-proof and saves the content from attacks of insects or other organisms. Further, plastic has the capability to withstand the hot and cold and changing environment. Since plastic is easily moldable, various sizes of packaging can be formulated according to the quantity that is to be stored. Of all, food stored in plastic packaging is easily transferable and transportable even to long distances.
However, the growing environmental concerns on the use of plastic will hinder the market growth. though plastic is an efficient packaging alternative, it is non-biodegradable. If not disposed of cautiously, this plastic causes pollution. Hence governments and environment agencies are encouraging the adoption of different packaging methods which are environment friendly. Paper and board food packaging are promoted as they are a better alternative to plastic while concerning environmental impacts. Companies are also coming up with innovative packaging methods in place of plastic packaging. Several retail outlets around the world are reducing single-use plastic employment by using banana leaves to pack fruits and vegetables.
The Asia Pacific Fresh Food Packaging Market Is Forecasted to Show Promising Growth
The global fresh food packaging market is regionally segmented as the Asia Pacific region, the South America region, the Middle East and Africa region, the European region, and the North America region. Of these, the Asia Pacific fresh food packaging market is anticipated to depict promising growth owing to surging disposable income and rising adoption of convenient food products. The booming FMCG industry in the region will encourage market growth during the forecasted period.
COVID Insights
The coronavirus pandemic had a positive effect on the global fresh food packaging market. Lockdown implemented to curb the spread of the virus resulted in an increase in demand for packed food products for consumption. Moreover, unsure upon opening up resulted in panic stockpiling by household sectors, which further boosted market demand.
