DUBLIN--(BUSINESS WIRE)--The "Global Fresh Food Packaging Market - Segmented by Material Type, Package Type, Application, and Region - Growth, Trends, and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global fresh food packaging market is expected to reach USD 98.9 billion in 2023 from USD 80.7 billion in 2017, witnessing a CAGR of 3.4%, during the forecast period 2018 - 2023.
Fresh food packaging is a packaging technique to prevent food from change of state or contamination from physical, chemical, and biological sources. This helps in longer storage of the product. The affordable, convenient, and sustainable packaging material such as PET, paper, aluminum and polyvinyl chloride is increasing the demand from customers, which in turn, is increasing the packaging rate of poultry and meat products, fruits and vegetables and dairy products. New packaging technologies, such as active packaging, intelligent packaging, and engineering science, have evolved over the years, which enable flexible packaging of fresh food products. Companies are adopting eco-friendly packaging by using biodegradable packaging material which can be recycled, renewed, and reused.
The increasing demand for the extended shelf life of food and convenience are driving the growth of the fresh food packaging market, while the stringent government regulations and rising prices of raw materials are restraining the growth of the market.
Increasing Demand for Extended Shelf Life of Products is driving the Fresh Food Packaging Market
After packaging, it takes time for a product to reach consumers in various parts of the world. The packaged food may not be fresh and might lose its aroma and taste before reaching the consumer. The threat of food being spoilt before reaching the consumer is increasing, as it would result in loss of capital invested in the packaging. To overcome this, food processing industries are investing in technologies and various new packaging techniques, such as intelligent packaging and engineering science, which help in increasing the shelf life of the product.
Organizations are focusing on consumer satisfaction, apart from revenues, as it impacts the image and value in the market. Increasing health consciousness and awareness regarding consuming fresh food are influencing consumers to opt for packaged products with a longer shelf life. Moreover, consumers are focusing on packaged products that retain their freshness, aroma, and taste even after many days of purchase. Thus, organizations are focused on improving the shelf life of products.
Asia-Pacific to have a Major Growth over the Forecast Period in Fresh Food Packaging Market
Asia-Pacific has experienced a positive growth in the fresh food packaging market and is estimated to witness a significant growth, over the forecast period. The disposable income of consumers in the region has witnessed significant growth, which increased the standard of living of people in the region. The growing urban population in India and China is increasing the demand for fresh food packaging in this region. India and China, together contributed over 70% of the total share of Asia-Pacific share, in 2017.
The increasing exports of fruits and vegetables in Asia-pacific is increasing the growth of the market. The world imports of fruit and vegetables has increased by 17.6%, imports of fruits and vegetables in the Asia Pacific region increased by a remarkable 51.6%.
Key Developments in the Fresh Food Packaging Market
- Aug 2018: Amcor acquired the US firm Bemis, a packaging firm of flexible and rigid plastic packaging for food and consumer products, in a USD 6.8 billion deal, which is estimated to create a dominant flexible packaging company in the Americas.
- Feb 2017: Mondi acquired Excelsior Technologies Limited, mainly, for its food applications, such as the unique packaging technology for microwave steam cooking, in order to improve its offerings for innovative solutions.
Key Topics Covered:
1.1 Key Study Deliverables of the Fresh Food Packaging Market Study
1.2 Fresh Food Packaging Market - Study Assumptions
1.3 Fresh Food Packaging Market - Definition
1.4 Key Findings of the Fresh Food Packaging Market Study
2. Research Approach and Methodology
3. Executive Summary
4. Fresh Food Packaging Market Insights
4.1 Fresh Food Packaging Market Overview
4.2 Industry Value Chain Analysis
4.3 Factors Driving the Fresh Food Packaging Market
4.3.1 Increasing Demand for Extended Shelf Life of the Products
4.3.2 Increasing Demand for Convenience Food
4.4 Factors Restraining the Fresh Food Packaging Market
4.4.1 Increasing Prices of Raw Materials
4.4.2 Stringent Government Regulations
4.5 Industry Attractiveness - Porter's Five Industry Forces Analysis
4.6 Supply Chain Management
5. Global Fresh Food Packaging Market - Segmentation
5.1 Fresh Food Packaging Market By Type of Material
5.1.4 Paper and Paperboard
5.1.5 Other Materials
5.2 Fresh Food Packaging Market By Packaging Type
5.2.2 Converted Roll Stock
5.2.3 Gusseted Box
5.2.4 Corrugated Box
5.2.6 Other Packaging Types
5.3 Fresh Food Packaging Market By Application
5.3.1 Poultry and Meat Products
5.3.2 Dairy Products
5.3.3 Vegetables and Fruits
5.3.4 Sea Food
5.3.5 Other Applications
5.4 Fresh Food Packaging Market By Region
6. Fresh Food Packaging Market Competitive Intelligence - Company Profiles
6.1 Coveris Holdings SA
6.2 Amcor Limited
6.4 Smurfit Kappa Group
6.5 Mondi Limited
6.6 Bemis Company Inc.
6.7 International Paper Company
6.8 Sonoco Products
6.9 Schur Flexibles Group
6.10 Anchor Packaging Inc.
6.11 DS Smith PLC
6.12 ITC Limited
*List Not Exhaustive
7. Investment Analysis of the Fresh Food Packaging Market
8. Opportunities in the Global Fresh Food Packaging Market
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