Introduction
Food packaging plays an important role in keeping the food quality safe while handling and transportation. Food packaging offers a modern marketing medium to the sellers and helps improve customer satisfaction levels as well as information transmission.
Fresh food packaging provides protection and safety and provides resistance from microorganisms and bacteria. Moreover, the food enclosed in the package needs to be safeguarded from other conditions, such as vibration, compression, and temperature, among others.
The major driving factors of the market include growing demand for convenience food items and innovative packaging solutions for extended shelf life of fresh food items. However, stringent government rules and regulations regarding the raw material used for packaging material and rising environmental concerns about global warming are expected to challenge the growth.
Table of Contents
Market Overview
The global fresh food packaging market is expected to grow to $143.50 billion by 2025
Growth momentum is expected to accelerate during the forecast period with a 3.59% CAGR.
Growing demand for convenience food items, together with the requirement of better packaging methods and solutions to enhance the short shelf-life of fresh meat, is fuelling the market growth.
APAC is a prominent regional market owing to the rising demand for packaged foods coupled with rising health consciousness among consumers from China and India
Key Trends
Increasing the use of eco-friendly packaging in food packaging industry is anticipated to drive the market growth.
The growing awareness regarding environmental conservation and sustainable living is expected to drive the market growth
Innovations and advancements of packaging technologies is expected to have a positive impact on the growth of the market
Key Market Players
Some of the key players in the market are Amcor, International Paper Company, WestRock Company, Smurfit Kappa, Coveris, Sealed Air.
Industry players are focusing on R&D activities concerning new plant-based materials that mimic the properties of plastics currently in use. The companies are redesigning packaging to include less material, hence saving on the cost and producing less waste. Also, companies in the market are continuously involved in increasing their market presence by introducing new products, expanding their operations, or by entering into strategic mergers and acquisitions.
Growth Drivers and Challenges
Increasing consumption of convenience food products is fuelling the market growth.
Requirement of better packaging methods and solutions to enhance the short shelf-life of fresh food is another factor driving the market growth
Efficient transportation and improved storage equipment are additional factors that are contributing to the market growth.
Stringent government rules and regulations regarding the raw material used for packaging material is significantly hindering the market growth.
Environmental concerns and rising global warming are expected to challenging the growth of fresh food packaging