According to the report published by Zion Market Research, global demand for Fresh Food Packaging market was valued at approximately USD 79.7 Billion in 2019, and is expected to generate revenue of around USD 95 Billion by end of 2026, growing at a CAGR of around 3.5% between 2020 and 2026.
According to the report published by Zion Market Research, global demand for Fresh Food Packaging market was valued at approximately USD 79.7 Billion in 2019, and is expected to generate revenue of around USD 95 Billion by end of 2026, growing at a CAGR of around 3.5% between 2020 and 2026.
Global Fresh Food Packaging Market: Overview
Fresh food packaging offers complete protection against injury, spoilage of food, and removes all physical, chemical or biological changes in food products. In certain cases, it also adds dietary statistics about the ingredients used in the production of the products, along with the percentage of the edible food available for sale. The adoption of logos and enticing food packaging encourages prospective consumers to buy targeted food items. Packaging material covers information such as how to use the product, recycle the product and dispose of the product.
Global Fresh Food Packaging Market: Growth Factors
The market for fresh food packaging is primarily motivated by the increasing need for the longer shelf-life of the future commodity. Increasing demand for processed and fresh food accelerates the launch of the packaging variety on the market. In addition, changing lifestyles and a growing trend for nuclear families will also fuel the market for fresh food packaging in the near future. Growing disposable income and increasing knowledge of people's hygienic food items around the world also have a positive effect on global consumer development. In addition, many of the advantages of fresh food packaging, such as safety, containment, durability, proper utility and easy communication, which can encourage market development. Conversely, tight government restrictions on environmental issues could limit potential business development.
Global Fresh Food Packaging Market: Segmentation
The market for fresh food packaging is segmented on the basis of types of materials such as metal, glass, paper & paperboard, textile wood, plastic and others. The global industry is further classified on the basis of product types such as fruit, vegetables, meat products, dairy products, seafood and others. In addition, the demand for fresh food packaging is segmented on the basis of advanced technologies such as self-heating packaging, edible packaging, water-soluble packaging, smart packaging, self-cooling and others. Region-wise, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Global Fresh Food Packaging Market: Regional Analysis
Geographically, the global market for fresh food packaging is divided into North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. Asia Pacific contributed to the biggest portion of the world demand for fresh food packaging. Thanks to strong consumer demand, Europe is the second biggest market in the world. China has the largest market share for fresh food packaging in Asia Pacific due to increasing demand for fresh vegetables and fruit. North America is seeing rapid demand growth is the result of potential growth in the world market for fresh food packaging.
Global Fresh Food Packaging Market: Competitive Players
Some main participants of the fresh food packaging market are Bemis Company Inc., Printpack, Sealed Air, Amcor Limited, Berry Plastics, Bomarko Inc., Packaging Corporation of America, and others. Other key players influencing the global market are Sonoco Products Company, Graphic Packaging Holding, International Paper and Anchor Packaging Inc., Sealed Air India Pvt. Ltd., and Graphic Packaging International, Inc. among others.
Fresh Food Packaging Market: Regional Segment Analysis
Fresh food packaging market is majorly driven by the growing demand for extended shelf-life of the potential product. Rising demand for the processed and fresh food expedites the introduction of the variety of packaging in the market. Moreover, changing lifestyle and increasing trend of nuclear families will also boost the fresh food packaging market in the near future.
According to Zion Market Research, global demand for Fresh Food Packaging market is expected to generate revenue of around USD 95 Billion by end of 2026, growing at a CAGR of around 3.5% between 2020 and 2026.
The Asia Pacific fresh food packaging market is projected to hold the largest share globally in the future. Rising advanced technology adoption, and high customer demand in the region is expected to propel the demand.
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