Frozen Food Packaging Market Overview:
Global Frozen Food Packaging Market is expected to garner $47,376 million by 2023, from $33,231 million in 2016, registering a CAGR of 5.3% from 2017 to 2023. The rapid growth in urbanization and fast paced lifestyle has shifted the preferences of consumers towards frozen food products which requires less time for cooking than the traditional home cooked meal. Increase in female participation in the workforce and changes in family dynamics has increased the consumption of frozen food, thus fueling the growth of the frozen food packaging market. Moreover, wide on-the-go consumer base and growth in purchasing power, in emerging economies such as India, and China, further boosts the market. Rise in demand for attractive, innovative, and convenient-to-carry packaging for differentiating the product from the rest is also expected to increase market growth.
The global frozen food packaging market is segmented based on type, product, material, and geography. Based on type, market is divided into boxes, bags, cups & tubs, trays, wraps, pouches, and others. On the basis of product, it is classified into ready meals, meat & poultry, sea food, potatoes, vegetables & fruits, and soups. Based on material, the market is categorized into plastics, paper & paperboards, metals, and others (glass and wood). Based on geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Global Frozen Food Packaging Market Segmentation
In 2016, Europe was the largest revenue contributor to the global market accounting for approximately two-fifths of the market share, and is expected to maintain its dominance during the forecast period. Whereas, increase in consumption of frozen food in countries such as India and China majorly propels growth in frozen food packaging market. Asia-Pacific region is expected to grow at the highest rate CAGR of 7.8%.
Top Investment Pockets
China is expected to be the most attractive market for frozen food packaging owing to the exponential increase in the consumption of frozen food products. The countrys frozen food packaging market is expected to grow at the highest CAGR of 8.0% from 2017 to 2023. Growth in urbanization, rise in disposable income, increase in number of female participation in workforce, and rapid expansion of retail network in the country is expected to boost the consumption of frozen food products, which in turn leads to the growth of the frozen food packaging market. India, and Middle East, are among other attractive markets growing at a significant CAGR during the forecast period.
Global Frozen Food Packaging Market: Top Investment Pockets, by Country
In 2016, boxes type frozen food packaging accounted for the highest revenue growing at a significant CAGR of 4.8%. Bags are expected to grow at the highest CAGR of 6.0% from 2017 to 2023. These are made of plastic, which gives better design flexibility for frozen food packaging manufacturers and allows optimum utilization of shelf space.
Middle East countries such as United Arab Emirates (UAE), Saudi Arabia, Iran, and Egypt import majority of their food. The price of fresh vegetables and meat is on an increase owing to the rise in demand and comparatively less supply. This is expected to increase the sales of frozen food products. Moreover, growth in retail network and convenience has led to higher consumption of frozen food, thus propelling the growth of the frozen food packaging market in Middle East. The region is expected to grow at a significant CAGR of 7.7% from 2017 to 2023.
Middle East Frozen Food Packaging Market, 2015-2023 ($Million)
The key players profiled in the report include Amcor Ltd., Ball Corporation, Bemis Company, Inc., Crown Holdings, Inc., Graphic Packaging International, Inc., International Paper Company, Pactiv LLC, Sealed Air Corporation, Sonoco Products Company, and WestRock Company.
The other key market players (not profiled in this report) in the value chain include American Packaging Corporation, Berry Plastics, Caraustar Industries, CM Packaging, Emmerson Packaging, Flair Flexible Packaging Corporation, Graham Packaging Company Huhtamaki N.A., LINPAC Group, and Sabert Corporation
- The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global frozen food packaging market to elucidate the prevailing opportunities and tap the investment pockets.
- It offers qualitative trends as well as quantitative analysis of the global market for the period of 2016-2023 to assist stakeholders to understand the market scenario.
- In-depth analysis of the key segments demonstrates the type of packaging used for various frozen food products.
- Competitive intelligence of the industry highlights the business practices followed by key players across geographies as well as the prevailing market opportunities.
- Key market players are profiled to understand the competitive outlook of the market.
Frozen Food Packaging Market Key Segmentation;
- Cups & Tubs
- Ready Meals
- Meat & Poultry
- Sea Food
- Vegetables & Fruits
- Paper & Paperboards
- Others (Glass and Wood)
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East
- South & Central America