The global Fresh Food Packaging Market is forecast to reach USD 102.00 Billion by 2027, according to a new report by Reports and Data. The growing demand from developing markets will help the fresh food packaging Industry to maintain a steady growth rate over the forecast period. The rise in the family disposable incomes, along with the buyer power, will provide strength to the fresh food packaging Industry and help in its growth over the forecasted period.
Due to the pandemic, there are high chances of disruption in the supply chain of raw material supplies. The financial crisis can let people shrink their expenses, which can lead to a decrease in the demand for the fresh food industry. Though food demand is inelastic, there can be a change in consumers' dietary patterns. While the above reasons can have a negative impact, the inelasticity of food demand will make people adopt a more safe and hygienic way of consuming edibles. Consumers will embrace the fresh packaged edibles more as they will be served tested seafood or meat product along with the nutritional information label and additional facts about the edible product for sale.
The COVID-19 impact:
With the outbreak of the coronavirus, WHO encourages people to take more aggressive steps to prevent the widespread of the virus and to abide by the rules and regulations created by the respective governments of each country. Due to the safety and hygiene maintained packaging that keeps the edibles protected from air, temperature, and various micro-organisms, Covid-19 throws a positive light on the fresh food packaging Industry. The market has witnessed a high demand during the epidemic. It is expected to grow in the coming years due to the growth in innovative packaging solutions, which slows down decomposition and prevents food spoilage. Materials like textiles wood and glass will experience fast growth in the fresh food packaging Industry during the pandemic. As demand for food is generally inelastic, packaging plays an essential role.
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Further key findings from the report suggest
- The Paper and Paper boards segment held a significant share in the market due to the paper's convenience and decomposing property. The strict ban on plastics usage by the governments of some countries has led to an increase in the demand for paper bags. Consumers shift their preferences towards more affordable, favourable, and feasible packaging materials such as paper, textile woods, and glass. Companies are embracing more eco-friendly and bio-degradable packaging materials.
- Consumers have become more aware of the nutritional value of seafood and meat products. Both the seafood and meat products are holding the largest share in the market compared to the other products.
- The Asia Pacific has the highest adoption rate in the market. This is due to the increasing demand for packed fresh edible products in countries like China, Japan, Australia, India, and the availability of cheap raw materials.
- The fresh food packaging Industry is adopting some wiser strategies to stay competitive in between the growing demand of fresh-packed edibles. Collaborations have been observed between prominent brands to increase their product portfolio and enter new markets. Companies adopt effective marketing and branding strategies to hold the position of the products in the competitive market.
- Key participants include Amcor Limited, Mondi PLC, DuPont, Smurti Kappa Group, Sonoco Products Co., International Paper Company, Coveris Holdings S.A., D.S. Smith PLC, Silgan Holdings Inc. WestRock Company, among others.
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For the purpose of this report, Reports and Data have segmented the global Fresh Food packaging Market on the basis of component, type, end-users, application, distribution channel, and region:
Material Outlook (Revenue, USD Billion; 2017-2027)
- Plastic
- Paper paper boards
- Textile woods
- Glass
- Others
Packaging Type Outlook (Revenue, USD Billion; 2017-2027)
- Flexible
- Semi-rigid
- Rigid
End Users Outlook (Revenue, USD Billion; 2017-2027)
- Residential
- Baker Confectionary
- Hotel, Restaurants and Food Chains
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Meat Products
- Fruits
- Vegetables
- Seafood
- Others
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Online
- Offline
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S
- Canada
- Europe
- Germany
- U.K
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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