Global Frozen Food Packaging Market: Introduction
Over the last few years, the demand for frozen food packaging has increased significantly, thanks to the ongoing expansion in the food and beverages industry. the features of frozen food packaging materials, such as lightweightness, durability, less usage of fossil fuel, and recyclability is boosting the global frozen food packaging market. The capability of these packaging products to create an eco-friendly environment is also supporting the growth of this market.
This research report presents an in-depth analysis of the global frozen food packaging market, taking the key trends, market segmentation, and its future prospects in consideration. It also offers a deep insight into the market dynamics, in order to understand the status of the worldwide frozen food packaging market over the period of 2019 – 2027.
Global Frozen Food Packaging Market: Notable Developments
- Cascades Sonoco, a joint venture of Sonoco Products Co. and Cascades Inc., recently inaugurated a packaging facility in Birmingham, Alabama, for the production of its new product line of innovative, eco-friendly packaging. The venture has invested a sum of US$17 mn to manufacture a water-based functional coating solution, which can create recyclable and compostable containers.
- WestRock Co. has been awarded with the Innovator Award – 2019 for its innovation in recovery. The award recognized the company’s work in enhancing the recyclability of foodservice packaging.
The global frozen food packaging market demonstrates a highly competitive vendor landscape. The rivalry among the leading participants, such as Berry Plastics Group Inc., Sonoco Products Co., ProAmpac LLC, Cascades Inc., and American Packaging Corp. will intensify this competition further. Hitherto, these participants have been relying on innovation and technological advancements for the growth of their businesses. However, their focus will shift towards strategic partnerships with local players, especially in emerging countries, such as India and South Korea, in the near future to enhance their visibility across the world.
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Global Frozen Food Packaging Market: Market Dynamics
The global frozen food packaging market is gaining from a number of factors. The significant ones among those are the changing lifestyle of consumers and their increasing disposable income. The swift urbanization in developing nations, especially in the emerging middle-income population countries, is also supporting the demand for frozen food packaging products considerably. The increasing uptake of freezer bags, especially in the U.S., is likely to boost the global market in the near future.
The demand for plastic bags for the packaging of frozen food is the latest trend in the global frozen food packaging market. The availability of plastic bags in different shapes and sizes and the benefits offered by them, such as the ability to tolerate high temperatures, is fuelling the demand for plastic bags for the packaging of frozen food.
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Asia Pacific to Report Most Promising Growth
North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa are the main geographical segments of the global frozen food packaging market. Asia Pacific, among these, has surfaced as the most promising region frozen food packaging market. The presence of a high population base and increasing preference for ready-to-cook meals is likely to keep the growth rate of the Asia Pacific frozen food packaging market significantly high in the years to come. Europe will also demonstrate a decent growth rate in the near future.
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