The extended shelf life of packaged food and the rising demand for convenience food drive the demand of the market.
Market Size – USD 77.00 Billion in 2019, Market Growth – CAGR of 3.6%, Market Trends –High prevalence of COVID-19 virus.
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.
Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market. The pandemic has affected every segment of the market, along with bringing disruption in the supply chain, demands & trends, and financial difficulties. The report covers the initial and future assessment of the COVID-19 impact on the market.
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The report covers the market dynamics analysis, company profiles, production and manufacturing capacity, product specifications, product value, and key players. The report also offers an insight into the growth prospects during the forecast period. The Fresh Food Packaging Market report also offers detailed data on the key market players to impart a deeper understanding of the competitive landscape. The report focuses on the key market elements to ensure the readers gain a competitive advantage and maximum benefit of the market data to assist them in achieving substantial growth and an advantageous position in the global market.
Key findings of the report:
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 study, the global Fresh Food Packaging market has been segmented on the basis of disease type, application, distribution channel, and region:
Material Outlook (Revenue, USD Billion; 2017-2027)
- Paper & paper boards
- Textile woods
Packaging Type Outlook (Revenue, USD Billion; 2017-2027)
End Users Outlook (Revenue, USD Billion; 2017-2027)
- Baker & Confectionary
- Hotel, Restaurants and Food Chains
Application Outlook (Revenue, USD Billion; 2017-2027)
- Meat Products
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
By Region (Revenue, USD Million; 2017-2027)
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
Table Of Contents:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Fresh Food Packaging Market Segmentation & Impact Analysis
4.1. Fresh Food Packaging Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
220.127.116.11. Demand for convenient food solutions
18.104.22.168. Increasing demand for extended shelf-life of fresh food items
4.2.3. Market restraints analysis
22.214.171.124. Fluctuating cost of raw materials
126.96.36.199. Stringent government rules and regulations
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
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