Global Frozen Food Packaging Market 2019 Research report provides information regarding market size, share, trends, growth, cost structure, capacity, revenue and forecast 2024. This report also includes the overall and comprehensive study of the Frozen Food Packaging market with all its aspects influencing the growth of the market. This report is exhaustive quantitative analyses of the Frozen Food Packaging industry and provides data for making Strategies to increase the market growth and effectiveness.
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Market Overview
The frozen food packaging market was valued at USD 39.48 million in 2018 and is expected to reach a value of USD 53.43 million by 2024 at a CAGR of 5.18% over the forecast period of 2019-2024. Recently, according to consumers convenience, frozen food packaging provides features like the packings are lightweight, unbreakable, and resealable, lower fossil fuel usage and is also capable of greenhouse gas emissions, water usage for creating eco-friendly environment.
– Majority consumers of frozen food products prefer large retail stores, supermarkets, and hypermarkets. Organized retail stores are a significant part of large retail chains, that have a huge presence in the global market. The growth in the organized retail chain is translating directly into the demand for food packaging solutions in the frozen food industry.
– For instance, Walmart is expected to host more than 11,000 stores worldwide. and Amazon Go. Amazon is expected to open more than 3,000 cashierless stores by 2021. Hence, frozen food packaging market is expected to flourish.
– Consumers are also switching to frozen food to reduce the amount of waste they create, as a study in the British Food Journal showed that families reduced their food waste by over 47% by switching to frozen food.
– As packaging for frozen specialties like meat, poultry, and seafood are fastest gains among major frozen food applications, many large food packaging companies in North America and Asia-Pacific are investing hugely for creative and decorative packaging.
– However, the government packaging laws regulations in most of the developing and developed countries stand as a challenging factor for the market.
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Scope of the Report
Frozen food packaging helps to preserve food from the time it is prepared to the time it is eaten. The frozen foods packaging helps to maintain original color, flavor and texture and generally more of their nutrients than foods preserved by other methods.Mostly, fruits & vegetables, meat, and seafood, frozen desserts & ice creams, baked goods are being packaged in bags, boxes, tubs & cups, trays, wrappers, and pouches.
Key Market Trends:
Bags Packaging Type to Account for a Major Share in the Market
– Various factors, such as changing lifestyle, increasing disposable income, and rapid urbanization in developing countries, especially the growing middle-income population, are increasing the demand for bags for frozen food. In the United States, the growing adoption of freezer bag has increased the growth of frozen food packaging market.
– Plastic bags are available in different sizes and shapes. It offers several benefits, such as the ability to tolerate temperatures, and technical advantages, which is further fuelling the demand for bags in frozen food packaging.
– Ziploc bag is an important example of bag packaging. This type of bag is available in various sizes and can be used for storing meat and dairy food. For instance, dairy products can be frozen in freezer bags, as these are ideal for short-term usage and saving space. Another major trend being followed is customizing the product based on client requirements.
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Asia-Pacific to Witness the Fastest CAGR
– In Asia-Pacific region, the demand for food products is expected to grow with increasing population, and quality products are expected to be on demand with urbanization and expanding awareness about foodborne illnesses, food wastage, and food spoilage.
– China is the largest in the Asia-Pacific frozen food packaging market. Large population and urbanization in this country have led to an increased demand for frozen food products. Chinese consumers are now looking for easy-to-use and quality food products. The demand for frozen meat and other regularly consumed products in the frozen food market has been constant in the region, because of their availability.
– According to the National Bureau of Statistics of China, the growth of food packaging in China has increased 32% by 2018 since 2013. Furthermore, the market also provides opportunity for vendors of frozen food packaging solutions, as it is still in the nascent stage in terms of adoption of the latest packaging products.
Competitive Landscape
The frozen food packaging market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with creative and decorative packaging patterns, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
– May 2019 – Cascades Sonoco, a joint venture of Cascades Inc. and Sonoco Products Company inaugurated the expansion of packaging facility in Birmingham, Alabama, by its new production line of innovative, eco-friendly packaging. They have invested USD17 million to produce a water-based functional coating solution which can create recyclable, repulpable and compostable containers.
– April 2019 – WestRock Company has got the “Innovator Award” for the company’s work in improving the recyclability of foodservice packaging.
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Some Major Points from Table of Content
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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