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Refrigeration Packaging Market Highlights:
The Refrigeration Packaging Market plays a vital role in maintaining the quality and safety of perishable goods throughout the supply chain. With advancements in technology and growing consumer demand for fresh and convenient products, the refrigeration packaging industry has experienced significant growth. This article explores the key drivers, trends, and innovations shaping the refrigeration packaging market. The refrigeration Packaging Market is expected to grow USD 10 Billion at a CAGR of 5.37% during the forecast period, says market research future (MRFR). Refrigeration packaging is a cutting-edge technology that is largely employed in the food and beverage and life science and pharmaceutical industries.
Changes in consumer preference for safe food have led to innovations in packaging technologies. The packaged refrigeration market is driven by various factors such as government initiatives for food safety, increase in demand for small portion food items/demand for single use packaging. Growth in retail sectors/increasing number of retails outlets, and increasing demand for processed food items, also drive the market growth. The refrigeration packaging market has various restraints such as inclination towards fresh cooked food and added costs of the final product.
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One challenge in the market is the volatility in raw material prices. The most common raw materials used in the manufacturing of packaged refrigeration, include aluminum, copper, and steel. These materials have volatile prices that affect the manufacturers, and the end-user segments. The expanding demand-supply gap in the last few years has led to an increase in the cost of raw materials.
Key Players:
Amcor Limited (Australia)
Ball Corporation (U.S.)
Bemis CompanyInc.(U.S.)
Crown Holdings Incorporated (U.S.).
Graphic Packaging InternationalInc.(U.S.)
International Paper Company (U.S.)
Pactiv LLC (U.S.)
Sealed Air Corporation (U.S.)
Sonoco Products Company (U.S.)
and WestRock Company (U.S.).
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Drivers of the Global Refrigeration Packaging Market
Market Research Analysis:
With busy consumer lifestyles and rising household incomes, more and more people are looking for convenient options that can fit around their hectic schedules. Technological advancements have enabled the flexible packaging companies with the ability to supply new film types and improved packaging designs, which helps protect, promote and store the product. Specifications such as printed films, re-sealable zippers, tear notch openings and single serve packing, have played a key role in enhancing this trend.
With increasing disposable income and changing consumer preferences, there has been an inclination towards the consumption of frozen meat, poultry and seafood products. The growth of the segment is propelled by consumer demand for frozen foods offering convenience and value along with quality improvements resulting from packaging innovations. There has been a steady rise in income levels in developing nations, recently, resulting in more disposable income among individuals. Developing countries such as China, India, Indonesia, Thailand, Vietnam, and Mexico have the largest disposable incomes, due to which there has been a significant growth in the demand for efficient packaging of meat, poultry and seafood. The higher disposable income in these developing countries, result in the increase in purchasing power. As a result, frozen packaging market is expected to be impacted, positively.
In this market study, analysts have estimated Asia Pacific to dominate the refrigeration packaging market during the forecast period. Factors such as the introduction of active and intelligent packaging solutions by vendors such as Amcor, and the growing demand for flexible packaging, will boost packaged refrigeration growth in this region during the forecast period.
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Scope of the report
This study provides an overview of the global refrigeration packaging market, tracking one market segment across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Refrigeration Packaging market by its product and region.
By Packaging Material
By Packaging Type
By end-user
By Region
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