(Food-Beverage-News.Com, May 28, 2018 ) The Frozen Food Packaging Market Report gives Competitive Landscape of the Leading Companies and Regional and Global Analysis of the Market with Forecasts till 2023. The report on Global Frozen Food Packaging Market, has been prepared based on an in-depth market analysis with inputs from industry experts.
The frozen food packaging market was valued at USD 37.56 million in 2017 and is expected to reach a value of USD 50.67 billion by 2023 at a CAGR of 4.8% over the forecast period of 2018–2023.
The quality and shelf life of a product is of prime importance when it comes to a buying decision. The packaging market for frozen food is performing better as compared to that of chilled and dried food. The advantage of frozen, over chilled food is, it's significantly longer shelf life.
Asia-Pacific holds the major market for frozen food packaging compared to other regions. Urbanization, increasing economic standards, and disposable income are driving the Asia-Pacific market. The presence of fast developing populous countries, like China and India, are further boosting this market.
Key Market Driving Players and Companies Mentioned: AEP Industries, AMPAC Packaging, Bemis Company, Berry Plastics, Carter Holt Harvey, Pactiv Corporation, Westrock, Reynolds Packaging Group, Associated Packaging Technologies, American Packaging Corporation, and Cascades Incorporated
Growing Number of Organized Retail Stores is Driving the Market The retail industry has been witnessing tremendous growth in the last few decades. Organized retail stores are the primary distribution channels for frozen food all over the globe. These stores are always part of large retail chains, that have a huge presence in the global market. Majority consumers of frozen food products prefer large retail stores, supermarkets, and hypermarkets. Hence, for manufacturers, these stand as the key distribution channels.
Bags Packaging Type has the Major Share in the Market Bags are one of the most widely used forms of packaging, as it consumes less raw materials as compared to pouches and trays. Plastic and paper are the major materials used in manufacturing bags. Various factors, such as changing lifestyle, increasing disposable income, and rapid urbanization in developing countries, especially the growing middle-income population, are increasing the demand for bags for frozen food.
Asia-Pacific to Grow at a Faster Pace Asia-Pacific is one of the major markets for frozen food packaging. The market presents a unique opportunity for vendors of frozen food packaging solutions, as it is still in the nascent stage in terms of adoption of latest packaging products. The demand for food products is expected to grow with increasing population, and quality products are expected to be on demand with urbanization and expanding awareness about foodborne illnesses, food wastage, and food spoilage. China is the largest in the Asia-Pacific frozen food packaging market.
Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis.
Identifying the segment that is expected to dominate the market.
Identifying the regions that are expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares, and strategies employed by the major market players.
3-month analyst support along with the Market Estimate sheet (in Excel).
Key Developments in the Market January 2018: WestRock, one of the leading provider of differentiated paper and packaging solutions acquired Plymouth Packaging, a corrugated packaging firm. This acquisition is expected to expand WestRock’s business into corrugated packaging market. January 2017: Berry Plastics acquired AEP Industries Inc., this provides the company with opportunities to expand its product offerings and production capacity.
Table of Content: 1. Introduction
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
5. Market Segmentation
6. Competitive Intelligence – Company Profiles
7. Investment Analysis
8. Future of the Market
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