Market Analysis
The Frozen Food Packaging Market is anticipated to reach USD 45.6 billion by the year 2027 and register a CAGR of 5.8% throughout the forecast period of 2027. states the recent Market Research Future (MRFR) analysis. Frozen food packaging is a form of packaging to preserve frozen food. Freezing is one of the most convenient, most versatile, quickest, and easiest means to preserve food.
Various factors are fuelling the global Frozen Food Packaging Industry. As per the recent MRFR market estimates, such factors include increased need for packaged food, the presence of a strong retail network in growing economies, high dependency on ready to eat food that saves time, increasing urbanization, increased shelf-life of perishable products, increasing investments by top packaging companies in advanced freezing techniques, increase in working individuals, different advantages such as easy availability, and changing lifestyles. The additional factors adding market growth include rising disposable income, growing population, aging population, increase in the number of small households, technological advances such as improved packaging design to protect, store, and promote the product, various value-added features such as top notches and zippers, use of high quality graphics, and growing demand from different foodservice establishments. Besides, growing demand for frozen foods during COVID-19 pandemic on account of lockdowns and restrictions may also impact market growth.
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Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global frozen food packaging market based on application and product type.
By product type, the global frozen food packaging market is segmented into baked products, fruits and vegetables, meat, poultry and seafood, and others. Of these, the meat, poultry, and seafood segment will lead the market over the forecast period.
By application, the global frozen food packaging market is segmented into tubs and cups, bags, boxes, and others. Of these, the bags segment will dominate the market over the forecast period.
Regional Analysis
By region, the global frozen food packaging market covers the recent trends and growth opportunity across North America, Europe, the Asia Pacific (APAC), and Rest of the World (RoW). Of these, the APAC region will reign the market over the forecast period. Rapidly growing economies, expanding food and beverage sector, growing population, rising disposable income, the presence of several major economies like India and China, increasing preference for ready-to-cook meals, demand for quality products, and rising urbanization are adding to the global frozen food packaging market growth in the region.
In Europe and North America, the global Frozen Food Packaging Market Share Data is predicted to have healthy growth over the forecast period. Increasing sales of frozen food products through various retail chains such as convenience stores and supermarkets, the presence of a well –established retail sector especially in developed countries, and increase in small household sizes are adding to the global frozen food packaging market growth in these regions over the forecast period.
In Row, the global frozen food packaging market is predicted to have sound growth over the forecast period.
Key Players
The leading players profiled in the global frozen food packaging market report include Graham Packaging Company, Genpack LLC, Crown Holdings, AEP Industries Inc., Anchor Packaging, Amcor Ltd., WestRock Company, Sealed Air Corporation, Packaging Corporation of America, Leucadia National, Printpack Inc., Ball Corporation, and Graphic Packaging International Inc., among others.
The global frozen food packaging market is fragmented and also competitive with the presence of many domestic as well as international industry players. They have incorporated assorted strategies to stay at the forefront and also cater to the surging needs of the customers, including collaborations, partnerships, contracts, geographic expansions, new product launches, joint ventures, and more. Additionally, these players are also making heavy investments in research and development activities for strengthening their portfolios and also creating a hold in the market.
Industry Updates
April 2021- Kroger has introduced new program for recycling plastics and packaging.
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