Covina,CA, Jan. 29, 2021 (GLOBE NEWSWIRE) — Increasing population, industrialization, and urbanization are augmenting the fresh food packaging market growth. China’s emergence as a global manufacturing hub has increased the demand for fresh food packaging. Cheap labor and easy availability of raw materials boost the production of these products in Asia-Pacific region.
The global fresh food packaging market accounted for US$ 75.5 billion in 2019 and is anticipated to register a CAGR of 5.5%.
The report ” Global Fresh Food Packaging Market, By Material ( Plastic (Rigid & Flexible), Textile, Wood, Paper and Board, Metal, and Others ) , By Pack Type (Converted Roll Stock, Gusseted Bags, Flexible Paper, Corrugated Box), By Application (Meat Products, Vegetables, Seafood, and Fruits) , and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029”
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- January 2020, the company partnered with Moda (New Zealand) to offer innovative packaging solutions in North America and Latin America. In June 2019, Amcor PLC successfully acquired Bemis Company Inc. (US). The acquisition of Bemis brought additional scale, capabilities, and footprint that will further strengthen Amcor’s market position.
- May 2019 – Sealed Air Corporation signed a definitive agreement to acquire Automated Packaging Systems Inc., a leading manufacturer of high-reliability, automated bagging systems, for a purchase price of USD 510 million on a cash and debt-free basis.
- April 2019 – Amcor launched Amite Ultra Recyclable, its first packaging product made from the company’s revolutionary, more sustainable high-barrier polyolefin film. It can reduce a pack’s carbon footprint by up to 64%.
Increasing demand for meat packaging
Rising demand for fresh packaged and labelled food with no tampering to the products has led to a significant rise in the market of Global Fresh Food Packaging Market. Evolving life style of consumers, increasing health and environmental awareness, and supportive environmental policies implemented by various governments across the globe are the major factors responsible for the increasing global demand for fresh food packaging. Convenience features such as easy opening, portability, and single-use packaging drive food packaging innovation for processed foods. Visual appeal and convenience are the two aspects that drive the growth of the food packaging market. Increase in disposable income of the world has led to a rise in the demand for better quality, fresh food products which show well for the future of the industry. The main growth drivers for the market are private consumers, retailers, and local packaging firms, which focus more on delivering the product intact in the local market.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “ Global Fresh Food Packaging Market”, By Material ( Plastic (Rigid & Flexible), Textile, Wood, Paper and Board, Metal, and Others ) , By Pack Type (Converted Roll Stock, Gusseted Bags, Flexible Paper, Corrugated Box), By Application (Meat Products, Vegetables, Seafood, and Fruits), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029
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Key Market Insights from the report:
The global fresh food packaging market accounted for US$ 75.5 billion in 2019 and is anticipated to register a CAGR of 5.5%. The market report has been segmented on the basis of material, pack type, application, and region.
- Depending upon material, the plastic shares the highest share in the market due to its low weight, malleability, strength, stability, processability, reusability, and resistance to chemicals and moisture. It provides leakage proof packaging, which means it does not allow water vapor to pass through it.
- In terms of pack type, Converted roll stock is the most common pack type used in fresh food packaging. It provides a faster packaging process as more packages are produced per minute using roll stock on a form-fill-seal machine compared to other packaging methods. Converted roll stock reduces the cost of packaging due to the form-fill-seal machines that make bags in line continuously and reduce waste as well.
- By application, the meat products segment shares the highest growth in the market during the coming years. Consumers’ rejection of the product is possible if the mentioned quality is not met. Thus, a new technical tool is introduced in the market called ‘Active and Intelligent packaging,’ which better controls the food from contamination and maintains its quality.
- By region, Asia Pacific market is expected to be the most attractive market for fresh food packaging in view of the increasing export of fruits and vegetables from China and India. As China is the largest fresh food packaging market in Asia Pacific, followed by India, and the market in these countries is expected to grow rapidly in the near future. Western Europe, followed by North America, is the other prominent regions projected to hold a promising future growth potential in the fresh food packaging market.
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The prominent player operating in the global fresh food packaging market includes Amcor Limited, Bemis Company Inc., Berry Plastics, Packaging Corporation of America, Sonoco Products Company, Graphic Packaging International Inc., Sealed Air India Pvt. Ltd., Bomarko Inc., and International Paper and Anchor Packaging Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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- Study on the regional analysis that is expected to register the highest growth over the forecast period
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