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Market Research Future (MRFR) report on the global Frozen Food Packaging Market (2023-2027) evaluates COVID-19 on major factors determining business growth. The report addresses industry competition and global market trends, providing a holistic analysis of both growth factors and constraints, which could have a substantial effect on the market outlook over the forecast period. The Frozen Food Packaging Market is anticipated to reach USD 45.6 billion by the year 2027 and register a CAGR of 5.8% throughout the forecast period of 2027.
Consumers today rely on frozen food for convenience, a variety of options, ease of food preparation, and more. The growing demand for frozen food has resulted in the need for frozen food packaging. Frozen food packaging retains the vitamins and minerals contained in food, without the use of preservatives, appealing to consumers’ increasing desire for new and balanced ingredients. Packaging also prevents frozen food from spoilage than many fresh foods.
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Key Players
The key players in the global frozen food packaging market report include.
Graphic Packaging International Inc.
WestRock Company
Ball Corporation Printpack Inc.
Packaging Corporation of America
Sealed Air Corporation Amcor Ltd.
Anchor Packaging
AEP Industries Inc.
Crown Holdings
Leucadia National
Genpack LLC
and Graham Packaging Company.
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Market Dynamics
Frozen foods are well positioned to satisfy various customer needs. Various growing factors are driving the growth of the frozen food industry, such as increasing customer preferences for convenience and safe ready-to-eat foods. Rising disposable incomes and changing customer preferences result in easy food choices that are ideal for busy schedules. With the new online retail and food delivery system, there is an increase in food purchases. As customers choose to order food items from online platforms, there is a growing demand for frozen food packaging in the food industry for tamper proof and temperature-controlled packages.
The market for frozen food packaging has expanded rapidly due to increased demand for packaged food and an extensive distribution network in growing economies of APAC. There is a heavy reliance on packaged ready-to-eat convenience items to save time. This is driven by growing urbanization, an increase in the shelf life of otherwise perishable products, and an increase in the investment by packaging companies in innovative freezing techniques, which has contributed to the development of the frozen food packaging industry.
Market players are engaged in the development of innovative packaging solutions for frozen food packaging. Portable packaging solutions are on the rise, as well as vacuum pouches, easy opening, and resalable packaging. Advances in packaging materials and related developments will continue in frozen food packaging with longer shelf life and less packaging waste, generating future opportunities for market players over the forecast period.
Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global frozen food packaging market based on application and product type.
By product type, the global frozen food packaging market is segmented into baked products, fruits and vegetables, meat, poultry and seafood, and others. Of these, the meat, poultry, and seafood segment will lead the market over the forecast period.
By application, the global frozen food packaging market is segmented into tubs and cups, bags, boxes, and others. Of these, the bags segment will dominate the market over the forecast period.
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Regional Analysis
By region, the global frozen food packaging market covers the recent trends and growth opportunity across North America, Europe, the Asia Pacific (APAC), and Rest of the World (RoW). Of these, the APAC region will reign the market over the forecast period. Rapidly growing economies, expanding food and beverage sector, growing population, rising disposable income, the presence of several major economies like India and China, increasing preference for ready-to-cook meals, demand for quality products, and rising urbanization are adding to the global frozen food packaging market growth in the region.
In Europe and North America, the global frozen food packaging market is predicted to have healthy growth over the forecast period. Increasing sales of frozen food products through various retail chains such as convenience stores and supermarkets, the presence of a well –established retail sector especially in developed countries, and increase in small household sizes are adding to the global frozen food packaging market growth in these regions over the forecast period.
In Row, the global frozen food packaging market is predicted to have sound growth over the forecast period.
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