The global fresh food packaging market size is expected to reach USD 144.51 billion by 2025, expanding at a CAGR of 3.90%, according to a new report by Grand View Research, Inc. Rising need food transportation and food safety is projected to drive the growth. In addition, rising awareness regarding food quality and extended shelf life are some of the major factors fueling the demand for fresh food packaging. Increased consumer consciousness about health and food labeling is anticipated to further drive the growth of the market.
Furthermore, introduction of advanced technologies such as, intelligent packaging and active packaging developed gradually over the years, enable flexible packaging of food items. Other solutions such as Modified Atmospheric Packaging (MAP) and antimicrobial and aseptic packaging boost the growth opportunities for the manufacturers as they offer advanced safety to fresh food. Rising concerns over the amount of pesticides and other chemicals sprayed on the fruits and vegetables and the artificial ripening methods used by the street vendors are projected fuel the product demand.
However, environmental concerns and rising global warming may restrain growth of the fresh food packaging market. Also, stringent government rules and regulations regarding the raw material used for packaging material is expected to challenge the market growth in the forthcoming years.
Metal/wood and glass packaging material segment is anticipated to register rapid CAGR, followed by plastic and paper bag/board material. The paper bag/board material holds the largest share of the market.
Meat and seafood application segment is expected to continue holding the largest market share in near future, owing to the awareness regarding the nutritional value of seafood and meat and changing eating habits.
Asia Pacific held the largest market share of about 37.50% in 2018, owing to the rising demand for packaged foods coupled with rising health consciousness among consumers from China and India. North America, on the other hand, is anticipated to continue holding the largest market share during the forecast period.
Key players adopt business strategies such as partnerships and mergers and acquisitions to strengthen their product portfolio and to maintain a strong foothold in the market. Major market participants are Amcor Limited; Mondi Plc.; Smurfit Kappa Group; Bemis Company, Inc.; E. I. du Pont de Nemours and Company; International Paper Company; Coveris Holdings S.A; D.S. Smith Plc.; Silgan Holdings Inc.; and RockTenn Company among others.
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Further key findings from the report suggest:
- Paper bag/board packaging material segment is projected to ascend at a CAGR of 3.80% over the forecast period
- Asia Pacific led the global fresh food packaging market in 2018 with a revenue share of 37.50%. This trend is projected to resume over the next few years
- The market is highly competitive in nature with the presence of main players including Amcor Limited and Smurfit Kappa Group
- Various manufacturers are concentrating on new product launches, capacity expansion, and product portfolio extension to cater to the existing as well as future demand patterns from upcoming application segments
Grand View Research has segmented the global fresh food packaging market on the basis of material, application, and region:
Fresh Food Packaging Material Outlook (Revenue, USD Billion, 2015 - 2025)
- Plastic
- Metal/Wood
- Paper Bag/Board
- Glass
Fresh Food Packaging Application Outlook (Revenue, USD Billion, 2015 - 2025)
- Meat and Seafood
- Fruits and Vegetables
- Dairy Products
- Others
