LOS ANGELES, April 06, 2020 (GLOBE NEWSWIRE) -- The global frozen food packaging market is expected to reach the market value of around US$ 50 Bn by 2026 and is anticipated to grow, at a CAGR of around 5.1% in terms of revenue during the forecast period 2019 to 2026.
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Drivers and Challenges of Market
The modern food distribution program is making a trend over the past food items that takes time for food cleaning and processing of food. The food producers are providing door delivery services with the goal of drawing more consumers. As consumers tend to buy food items from online outlets, demand continues to rise worldwide for the frozen food packages. Increased demand for frozen food has changed the packaging industry considerably. Increased demand for safe shipping of frozen food items has driven suppliers to select tamper-proof and temperature controlled packaging in the food industry. For packaging of frozen food items like ice cream, fruit, beef, and vegetables, producers tend to use plastic materials. During the forecast period, these trends would contribute significantly to the growth of the global frozen food packaging industry. Various grocery stores sell their services on online platforms due to increasing industrialization and urbanization. Busy lives have driven consumers via online platforms to order various food items. As the lifestyle is improving, consumers tend to order frozen meals rather than fresh food. The increased demand by consumers for frozen food items continues to raise competition in the food industry for the frozen food packages.
Regional Outlook
Demand for food products is expected to rise in the Asia-Pacific region as consumers increase and better goods are expected to be available on sale. Besides, urbanization and growing information on foodborne diseases, food waste and food spoilage also contribute to the market growth.
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China held maximum share in the Asia Pacific region. In this region, large populations and urbanization have resulted in an increase in demand for frozen food products. Chinese customers are searching now for food items that are easy to use and of high quality. Thanks to their supply, the region has been constant in demand for frozen meat and other items regularly consumed in frozen food markets. Within this regional frozen food processing industry, Europe and North America have a large share. Frozen foods are commonly available in many grocery outlets including supermarkets and convenience stores. The developing retail industry, especially in many European and North American developed countries, is expected to fuel strong growth in demand for frozen food goods.
About The Market
The deep-frozen food can be preserved and used for a long time. Frozen foods can be shelved for long periods and processed with less time, compared to fresh foods. The packaging of frozen food retains the product's nutritious value and extends its shelf life. In order to keep frozen food fresh and convenient, various packaging styles such as bottles, containers, packs and cups, trays, covers, packets and others are allowed.
Key Players & Strategies
Innovative packaging solution for frozen food packets was developed by industry players. Portable packaging, resalable packaging, vacuum pouches, and fast opening are on the rise. In the frozen food package with longer shelf-life and less package waste, developments in packaging materials and associated technology will continue, generating potential opportunities for industry players in near future.
There are many key players on the frozen food packaging market. None of the major companies actually control the industry in terms of market share. The innovative and colorful packaging designs also increase their medium-sized presence on the industry by winning new contracts and entering new opportunities for smaller businesses.
Major players include in this report are Sealed Air, Sonoco Products Company, Cascades Inc., ProAmpac, Berry Global Inc., Amcor plc, Huhtamaki Oyj, and Others.
Apr 2019–The WestRock Company wins "Innovator Award" for the work it does to boost food service packaging recyclability.
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