Fresh food packaging refers to the type of packages in which fresh food is packed in numerous materials in order to protect it from external environmental conditions. Furthermore, the packaging is also required to keep the food safe while transportation and further prevents any wastage and physical damages. Additionally, the use of these packaging solutions further helps in the reduction of transportation costs and food wastages is also one of the key factors bolstering the market growth in the coming years. Furthermore, the changing lifestyle of the people in both developed and developing economies and a shifting trend towards a hectic lifestyle is boosting the demand for convenience goods thus significantly instigating the demand for freshly packed food and thereby, positively impact the market growth during the next five years. Furthermore, the increasing investments by key players of the market in the development of new packaging solutions is one of the key opportunities for the market to surge in the near future.
Requirements of shelf live improvement is significantly bolstering the demand
One of the prime factors that is bolstering the demand for fresh food packaging solutions is the growing focus of the consumers as well as the manufacturers towards the improvement of shelf life of the products. The consumer preferences towards the prolonged shelf life and better packaging of the products is one of the key factors regarding the inclination of the people towards packed fresh food. Furthermore, the growth in the purchase of fresh vegetables and fruits from the supermarkets and the hypermarkets is also an important factor supplementing the market growth over the next five years. Also, the rising inclination of consumers towards packed food is also instigating the manufacturers are adopting various kinds of packaging solutions to meet the growing requirements with an aim to capture a greater market share.
Thus, providing an impetus for the market to grow during the coming years. Moreover, the ability of these packaging solutions to offer various benefits such as optimum atmospheric levels and specific gas requirements for the fresh produce to maintain its freshness over a longer time period is further anticipating its adoption for fresh food exports. Simultaneously, the growth in the fresh food exports from many countries around the globe is further projected to drive the demand for fresh food packaging solutions and thereby drive the fresh food packaging market size throughout the forecast period. For example, in November 2018, two agricultural bilateral protocols were signed by Spain and China which allowed Spain to exports its pork products, table grapes, and fresh pork to China.
Restraining Aspects
The market may be restrained by the fact that there are numerous stringent regulations regarding the materials and type of packaging used for fresh food packaging. Also, the ban on the use of plastic in some countries is also anticipated to inhibit market growth to some extent during the short run. For instance, the initiative by the governments of numerous countries of the European region for banning the use of plastics throughout the region by the year 2021. This, in turn, is leading to the various steps taken by major players of the market to develop new packaging solutions in order to meet the growing environmental concerns which further add up to the costs of R&D and thus expected to impact the market growth. For example, Amcor plc, a multinational global packaging company, pledged to make all of its packaging material reusable by 2025, as an initiative to take plastic completely out of its supply chain.
Asia Pacific to hold a dominating share
By geography, the fresh food packaging market has been segmented into North America, South America, Europe, Middle East and Africa, and Asia Pacific. The Asia Pacific region is projected to hold a major share in the market owing to the increasing production of fresh food in the country coupled with the presence of a considerably large population base. Furthermore, the market in the European region is anticipated to surge throughout the forecast period owing to rising pork and poultry meat consumption in numerous countries. The North American region is anticipated to witness notable growth during the next five years due to the growing concerns regarding the consumption of packed food in countries like the United States and Canada among others.
Key Questions Answered in Fresh Food Packaging Market Report:
- What are the key regions having a significant market share of the market?
- What are the drivers and restraints of the market?
- Who are the key market players in the market?
- What is market segmentation of the Fresh Food Packaging Market?
- Who are the end-users of the Fresh Food Packaging Market?
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