The global market for frozen food packaging is expected to be worth US $60.58 billion by 2028 and register a compound annual growth rate of 5.5% over the forecast period, according to the latest report by Reports and Data. The rapid revenue growth can be attributed to shifting consumer preference towards ready-made meals and convenience food products.
Increasing population, rise in disposable income, and improving standards of living among consumers in developing countries are factors contributing significantly to rising demand for frozen food, and this is further driving demand for frozen food packaging solutions and materials.
Manufacturers are increasingly investing in development of more efficient packaging solutions as packaging plays a significant role in the frozen foods sector. Frozen food packaging solutions help to protect the integrity of food products and can also serve to carry printed details of contents and promotional messages and labels, in addition to assisting in prevention of spoilage and dehydration of food contents and extending product shelf life.
Packaging solutions for frozen food are moisture and puncture resistant, leak-proof and durable enough to resist heavy drop weight. Plastic packaging is increasingly utilized due to excellent barrier properties to protect contents from external factors such as moisture, oxygen or light.
Report’s Key Highlights
• In June 2020, American Packaging Corporation launched a new high barrier cold seal flow wrap package that can be recycled.
•The bags segment is expected to account for the largest revenue share in the global frozen food packaging market over the forecast period owing to its wide usage in the meat, poultry, seafood and fruits and vegetables sectors.
• The plastics segment is expected to register robust revenue growth over the forecast period, as plastic does not interact with food and can easily be integrated with packaging technology.
• The meat, poultry and seafood sector is poised to account for a robust revenue share in the global frozen food packaging market thanks to increasing demand for higher protein food products among an increasing number of health conscious consumers.
• The frozen food packaging market in Europe is likely to represent the largest revenue share over the forecast period ash ncreasing demand for frozen products in the region continue to be drive by busy lifestyles and high purchasing power of consumers.
• Major suppliers in the market include ProAmpac LLC, Sonoco Products Company, American Packaging Corporation, Amcor plc, Berry Global, Inc., Cascades Inc., Sealed Air Corporation, Smurfit Kappa Group, Sabert Corporation and WestRock Company.