Cold Food Packaging Market Size, Share, Competitive Landscape and Trend Analysis Report, by Material, by Packaging Type, by Application : Global Opportunity Analysis and Industry Forecast, 2024-2033

Market Introduction and Definition

Cold food packaging refers to the specialized packaging designed to store, transport, and display perishable food items at refrigerated temperatures. Its significance lies in its ability to maintain the freshness, quality, and safety of food that require refrigeration, such as dairy products, meats, seafood, and ready-to-eat meals. By creating a controlled environment that preserves optimal temperature and moisture levels, cold food packaging extends the shelf life of perishable items, reducing food waste and ensuring consumer safety. Additionally, it enhances convenience by allowing for longer storage periods and wider distribution networks, enabling consumers to access a diverse range of fresh food.

Key Takeaways

• The cold food packaging market study covers 20 countries. The research includes a segment analysis of each country in terms of value ($Billion) for the projected period 2024-2033.

• More than 1, 500 product literatures, industry releases, annual reports, and other such documents of major cold food packaging industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.

• The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions in order to achieve their most ambitious growth objectives.

Key market dynamics

The growing demand for convenience food is a significant driver of the cold food packaging market size. As consumers lead increasingly busy lifestyles, there's a rising preference for ready-to-eat and easy-to-prepare cold food products. This demand for convenience drives the need for efficient and innovative packaging solutions that can maintain the freshness and quality of perishable items while offering convenience in storage, transportation, and consumption. Packaging companies are responding to developing solutions that enhance convenience, such as resealable pouches and microwaveable containers, thereby driving growth in the cold food packaging market.

However, one of the key restraints facing the cold food packaging market is the environmental impact of packaging materials. Concerns about plastic pollution and sustainability have led to heightened scrutiny of packaging practices, particularly in the food industry. Companies face pressure to reduce their use of single-use plastics and adopt more eco-friendly alternatives. However, transitioning to sustainable packaging materials often comes with higher costs and technical challenges, which can hamper market growth. Balancing environmental considerations with practical packaging solutions remains a significant challenge for players in the cold food packaging market.

In addition, an emerging opportunity in the cold food packaging market lies in the development of smart packaging technologies. These technologies, such as intelligent sensors and indicators, enable real-time monitoring of factors such as temperature, humidity, and freshness within the packaging. By providing consumers and retailers with accurate information about the condition of the food, smart packaging enhances food safety, reduces waste, and improves the overall consumer experience. Additionally, chilled Packaging creates new avenues for product differentiation and marketing, allowing companies to create value-added offerings in the competitive cold food market landscape.

Demographic trend and statistics

The U.S. is estimated to hold a major portion of the North American slider bags during the forecast period. According to the American Frozen Food Institute (AFFI) , in 2020, the sales of frozen food increased by 21%. Also, it states that around 39% of the shoppers were core frozen food shoppers in 2020. The increasing sales of frozen food in the countries of America bolster the demand for the cold food packaging market.

Moreover, as per the data collected from the U.S. Department of Agriculture, India is the biggest milk producer country in the world. The milk production in India has an average constant growth of 4.5% and produced 155 million Tons of milk. It creates growth opportunities for dairy products as due to perishable nature, these dairy products require cold packaging. That’s how the biggest dairy industry is creating lucrative opportunities for the cold packaging market.

Market Segmentation

The cold food packaging market is segmented into material, packaging type, application, and region. On the basis of material, the market is divided into plastic, aluminum, paper & paperboard. As per packaging type, the market is segregated into boxes, tubes & cups, cans, trays, pouches & bags, films & wraps. On the basis of application, the market is classified into ready-to-eat products, fruits and vegetables, meat, poultry, & seafood, dairy products and others (soups, and others) . Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Regional/Country Market Outlook

North America remains a significant player in the global cold food packaging market. For instance, in 2020, the region held a market share of around 35% to 40%, making it one of the largest regional markets for cold food packaging globally. The region has a highly developed and diverse food industry, which demands sophisticated packaging solutions to maintain the freshness and quality of perishable products. Secondly, North America's extensive network of supermarkets, convenience stores, and food service outlets necessitates efficient packaging for transportation, storage, and display of cold food. Additionally, the region's stringent food safety regulations drive the adoption of advanced packaging technologies to ensure compliance and consumer confidence. Moreover, North American consumers exhibit a strong preference for convenience and ready-to-eat food, further fueling the demand for cold food packaging. Lastly, continuous innovation and investment in packaging research and development contribute to North America's dominance in this market.

Industry Trends:

• The Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) , with an cold Food packaging market forecast outlay of $1, 305.90 Million, has been implemented from 2021-22 to 2026-27 for enhancing India’s manufacturing capabilities. The scheme aids in enhancing industry capacity, incentivizing strong Indian brand growth, and increasing the global presence of Indian food brands as well as Cold food packaging market share.

• According to data found by WRAP Organization, 57% of the young generation believes that packaging keeps food fresher, and also helps the product to increase its shelf-life. Packaging for such ready-to-eat products requires no chemical reactions against low temperatures since food products need to be stored in freezers in order to increase their shelf-life. Customers are prioritizing packaged food over unpackaged food products, which is creating opportunities for cold food packaging market growth.

Competitive Landscape

The major players operating in the cold food packaging market include International Paper, Mondi Group, Ampac Holdings, LLC, Amcor Plc, Sealstrip Corporation, Sonoco Products Company, Alto Packaging, Sealed Air Corporation, Huhtamaki Group, WestRock Company, Tray-Pak Corporation, Uflex Limited, Amerplast Ltd, Berry Global Inc., and Faerch Plast A/S.

Recent Key Strategies and Developments

• In June 2021, Mondi Group expanded its range of plastic-free e-commerce packaging with MailerBAG range of sustainable paper solutions, which is fully recyclable in existing paper waste streams and replaces the need for plastic packaging. The company also recently invested in its European plants to deliver approximately 350 million paper bags per year for the online retail industry. Also, in the same month, Mondi's paper based EcoWicketBag won gold in 2021 EUROSAC Grand Prix, for its overall performance, reduction of CO2 emissions, and convenience for the customer.

• In September 2020, Amcor Ltd. introduced the world's first recyclable flexible retort pouch. The technical breakthrough, which many considered impossible, follows years of dedicated research and investment.

• In May 2019, Sealed Air Corporation signed a definitive agreement to acquire Automated Packaging Systems Inc., a leading manufacturer of high-reliability, automated bagging systems, for a purchase price of $510 million on a cash and debt-free basis.

• In April 2019, Amcor launched Amite Ultra Recyclable, its first packaging product made from the company’s revolutionary, more sustainable high-barrier polyolefin film. It can reduce a pack’s carbon footprint by up to 64%.

Key Sources Referred

1. Food and Agriculture Organization of the United Nations

2. L.E.K

3. Smart Packaging Solutions

4. Teletype

5. Medium

6. Global Sea Food

7. Amcor Insights

8. Adda24

9. Industrial Packaging

10. Global Seafood Alliance

11. TedPack Company Limited

12. Informa Markets

13. Packaging World Insights

14. Hotpack Packaging Industries LLC

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cold food packaging market analysis from 2023 to 2033 to identify the prevailing cold food packaging market opportunities.

• The market research is offered along with information related to key drivers, restraints, and opportunities.

• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

• In-depth analysis of the cold food packaging market segmentation assists to determine the prevailing market opportunities.

• Major countries in each region are mapped according to their revenue contribution to the Global market.

• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

• The report includes the analysis of the regional as well as Global cold food packaging market trends, key players, market segments, application areas, and market growth strategies.