Market Research Future added New Report Named "Global Fresh Food Packaging Market Research Report- Forecast 2023" to its Database. Global fresh food packaging market is estimated to grow at a CAGR of 4.02% during the forecast period, 2017-2023.
pune, India -- (SBWIRE) -- 05/08/2018 -- Fresh Food Packaging Market 2018: Global Industry Analysis, Market Growth and Opportunity Assessment, Segmentation by Material (Flexible & Rigid Plastic, Paper & Paperboard, Metal, Glass, Others), End-Use (Meat Products, Fruits, Vegetables, Dairy Products, Others), Region | Outlook to 2023
D.S. Smith Plc. (U.K.), Amcor Limited (Australia), Smurfit Kappa Group (Ireland), Coveris Holdings S.A (U.S.), Mondi Plc. (South Africa), Bemis Company, Inc. (U.S.), E. I. du Pont de Nemours and Company (U.S.), Silgan Holdings Inc. (U.S.), International Paper Company (U.S.) and RockTenn Company (U.S.) are some of the prominent players at the forefront of competition in the global fresh food packaging market and are profiled in MRFR Analysis.
Global fresh food packaging market is growing at the rapid pace due to various government initiatives towards food safety and upsurge for small portion food items, or demand for single-use packaging. Ready-to-eat and fresh products are one of the few segments of the industry that has shown consistent growth within the last few years. The report analyzes the fresh food packaging market by material; it includes flexible & rigid plastic, paper & paperboard, metal, glass, and others. An increase in the demand for fresh food products is projected to lead to the growth of the market. On the basis of the end-user, it is segmented into meat products, fruits, vegetables, dairy products, and others. The demand for food packaging has grown rapidly in the fruits and vegetable industry. Moreover, meat, poultry & seafood packaging market is expected to grow exponentially owing to various factors such as retail sectors/increasing number of retails outlets and increasing demand for processed food items. On the basis of the geography, the market is categorized into America, Europe, Asia Pacific and the Middle East & Africa. Asia Pacific region is expected to be the largest fresh food packaging market during the forecast period due to the introduction of active and intelligent packaging solutions and growing demand for flexible packaging.
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Fresh food packaging is one of the methods of developing food for all activities while handling and transportation. Packaging is used to protect fresh food from environmental conditions or physical damage. It also provides information about the ingredients, its nutritional value, and instruction to maintain the quality and freshness of the food. The need for convenient food coupled with longer shelf life has attracted the demand for food packaging.
The packaging sector in emerging countries develops a large volume of agricultural product and are continuously focusing on increasing the food demand, which is fuelling growth of the market. Growing demand for extended shelf-life of food products and increasing requirement for convenience food among consumers has been growing in accordance with the packaging industry. However, disposable management of the waste and environmental effects may limit the packaging sector. Whereas, ability to enhance product quality to meet standards both in domestic and international markets is likely to provide a growth opportunity in the future.
Global Fresh Food Packaging Market is estimated to grow at a CAGR of 4.02% during the forecast period, 2017-2023.
Global Fresh Food Packaging Market - Competitive Analysis
Extensive growth in global fresh food packaging industry has brought to light that partnerships & collaborations on large scale for sustainable product development and merging & acquisitions of small scale packaging industries by key players, is a key strategy adopted extensively by the players to spread their geographical presence and improve operational efficiencies.
DuPont has many partnership agreements with global companies to establish new production facility as well as developing high technology packaging solutions. For instance, DuPont believe in science and innovation which helps them in sustainability in packaging, optimizing the amount of packaging material used and enabling a futuristic technique where all packaging is recycled or its value is recovers.
Similarly Smurfit Kappa Group's manufacturing footprint provides it with a competitive edge as the corrugated packaging market is most of the times localized and needs to be close to the end-users. Since, over 50% of the company's business revenue comes from FMCG sectors including food, beverages, household goods, and others, Smurfit believes in intensifying its presence with its various manufacturing set ups. It sees strategic collaborations with prominent players in the market to achieve technological advantages as well as to expand its geographical reach.
Bemis Company Inc. on the other hand has done various acquisitions so as to diversity its facilities. It had acquired SteriPack Group mainly to diversify its facility in Ireland and packaging production in Malaysia and the U.S. Acquisition will support the growth of the company by expanding in the market, which will fit best of the company's capabilities and strength.
Increase in the demand for small portion food items
With the change in the consumer lifestyle and the increasing trend of smaller families, the food items packaged in smaller portions are being demanded more. The retailers/ suppliers of meat, poultry, and seafood packaging also prefer the single-use packaging due to the limited availability of shelf space in the stores.
For meat blocks, meat cuts or smaller portions of meat or meat products, single-layer films provide good protection from external contamination and to some extent from evaporation. Another important deployment of single-layer films is, used for freezer storage. Use of single-layer films for wrapping chilled meat portions in self-service outlets is one of the major uses.
Rising income level of the individual in developing countries
From the last few years, disposable income in developing countries has been increasing. The higher disposable income in these developing countries, resulting in the increase in purchasing power. Developing economies such as China, India, Indonesia, Thailand, Vietnam, and Mexico have the largest disposable incomes, which is driving significant demand for efficient packaging of meat, poultry, and seafood. As a result, meat, poultry & seafood packaging market is expected to be impacted, positively.
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Global Fresh Food Packaging Market - Segments
Global Fresh Food Packaging Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Material : Comprises – Flexible & Rigid Plastic, Paper & Paperboard, Metal, Glass, Others.
Segmentation By End-use : Comprises – Meat Products, Fruits, Vegetables, Dairy Products, Others
Segmentation By Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World
Global Fresh Food Packaging Market - Regional Analysis
North America is expected to witness the fast growth of fresh food, especially meat, poultry and seafood packaging as the people in the region are more inclined towards convenience products. The demand for fresh food packaging in the region is also expected to be driven, owing to factors such as demographic shifts and increase in global population. In US, demand for fresh food packaging will increase as flexible packaging will continue to outpace rigid types of packaging. The market will majorly be supported by increasing opportunities for high barrier film and pouches. The meat production is also growing, owing to factors such as population expansion, the increasing consumption of meat products as a healthy and natural food and the reduced meat prices.
The report for the global fresh food packaging market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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