Frozen Food Packaging Market – New Investments Expected to boost the Demand by 2021 | Market Data Forecast
Overview
Fresh food packaging protects food products
from environmental conditions and physical damage. It fills purchasers with
information regarding the ingredients and nutritional cost, and more
importantly, it helps in maintaining the quality of food as per the
predetermined standards. Fresh food packaging is made of materials which
include polyethylene, paper, aluminum, BOPET (Biaxial-oriented polyethylene
terephthalate), and polyvinyl chloride. The global fresh food packaging
industry particularly deals in meat & meat products, fruits, vegetables,
and seafood. Frozen food may be saved for longer intervals than fresh food and
organized in minimal time. Many kinds of frozen food come partially cooked and
just need to be boiled or heated to prepare dinner them.
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The worldwide frozen food Packaging market
became worth USD 46.5 million in 2016 and estimated to be growing at a CAGR of
4.72% to attain USD 58.56 million by 2021.
Drivers
and Restraints:
Growth in women participation in the
personnel and changes in a circle of relative’s dynamics has increased the
consumption of frozen food, thereby, fueling the growth of the frost food
packaging market. increase in the frozen food, growth in shopping strength in
rising economies which include India, and China, the rise in demand for
packaging for differentiating the product from the relaxation, the non-stop
innovation and improvement in the packaging of food items, rapid urbanization
and the increasing industries are promoting the global frozen food packaging
market.
On the contrary, the dearth of professionals,
the expensive equipment costs, lack of proper consumer awareness and other
factors may inhibit the overall market growth to some extent.
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Geographic
Segmentation
In 2016, Europe followed by
North America has the largest revenue of the global market accounting for approximately
60% of the market proportion and is anticipated to hold its dominance at some
stage in the forecast period due to the high demand for packaged and frozen
food. But, the Asia Pacific is predicted to grow on the quickest rate, in a
large part due to the growing economies like India and China, the rise in extra
hypermarkets and supermarkets and the rising urbanization in these regions.
The main players of the
market include Printpack, Inc., Pactiv LLC, Amcor Ltd, Ball Corporation, Crown
Holdings, Inc., Sealed Air Corporation, Bemis Company, Inc., Tetra Pak
International, WestRock Company, Graphic Packaging International Inc., FLAIR
flexible Packaging Corporation, Graham Packaging and Huhtamaki N.A.
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