(Food-Beverage-News.Com, June 07, 2018 ) Frozen Food Packaging Market was worth USD 46.5 million in 2016 and estimated to be growing at a CAGR of 4.72% to reach USD 58.56 million by 2021. Increasing urbanization has shifted the preferences of consumers towards frozen food products which require less time for cooking than the traditional home-cooked meal. In addition, increase in female employment and changes in family dynamics has also augmented the dependency on frozen food, thereby driving its growth.
People are preferring the frozen food over fresh food because it can be stored for longer periods and also require less time. The packaging for frozen food also increases the lifetime of the product and maintains the nutrition value for the food items. In the market, different types of packaging are available for various types of frozen food like Plastic, Aluminium, Cardboard, Glass, Wood, Paper and Others.
Increase in the frozen food, growth in purchasing power in emerging economies such as India, and China, rise in demand for packaging for differentiating the product from the rest, the continuous innovation and development in the packaging of food items, increasing consumer demand for high-quality food, rapid urbanization and the increasing corporate sector is driving the global market for frozen food packaging. However, a section of people who believe frozen food is unhealthy and less tasty, lack of awareness, limited number of skilled professionals and high-cost equipment for manufacturing packaging products is restraining the frozen food packaging market.
The Global Frozen Food Packaging Market is segmented based on material, food, type of packaging product, and geography. Based on the material, the market is segmented into plastic, aluminium, cardboard, glass, wood and paper. On the basis of food type, the global Frozen Food Packaging Market is segmented into Readymade Meals, Meat, Poultry and Sea Food, Fruits and Vegetables, Baked Goods, Potatoes, Soups and Ice cream. On the basis of packaging product type, the market is segmented into bags, boxes, cans, cartons, trays, wraps, tubs and cups and pouches.
On the basis of region, the frozen food packaging market can be segmented into North America, Europe, Latin America, Asia-Pacific and Middle East & Africa. In 2016, Europe followed by the North America has the largest revenue in the global market accounting for approximately three-fifths of the market share, and is expected to maintain its dominance during the forecast period owing to high demand in packaged and frozen food. However, Asia Pacific is expected to grow at the fastest rate, largely due to the developing economies like India and China, the rise in more hypermarkets and supermarkets and the rising urbanization in these regions. In addition, the Middle East and Africa are also expected to witness an above average growth in the market due to rise in the retail network in the region.
Some of the key players dominating the Frozen food packaging market are Printpack, Inc., Pactiv LLC, Amcor Ltd, Ball Corporation, Crown Holdings, Inc., Sealed Air Corporation, Bemis Company, Inc., Tetra Pak International, WestRock Company, Graphic Packaging International Inc., FLAIR flexible packaging corporation, Graham Packaging and Huhtamaki N.A.
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