Which Material Segment Held The Largest Fresh Food Packaging Market Share?

Posted on 2022-11-24 by researchinsights in Internet & Online // 0 Comments

San Francisco, Calif., USA, Nov 24, 2022 — /EPR Network/ —

Fresh Food Packaging Industry Overview

The global fresh food packaging market size is expected to reach USD 181.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.0% from 2021 to 2028. Increasing demand for fresh dairy products from developing countries is expected to be the key driver for the market over the forecast period.

U.S. fresh food packaging market size, by application, 2017 - 2028 (USD Billion)

The industry has experienced a significant impact of the COVID-19 pandemic owing to the disruption of the supply chain. The shutdown in China, which is one of the key raw material producers, has impacted packaging manufacturers globally. The shortage in supply of raw materials like plastics, aluminum, steel, and others from Chinese manufacturers has resulted in a demand-supply gap, however, the manufacturing is expected to ramp up the production gradually.

Fresh Food Packaging Market Segmentation

Grand View Research has segmented the global fresh food packaging market on the basis of packaging type, material, application, and region:

Based on the Type Insights, the market is segmented into Rigid, and Flexible.

The rigid fresh food packaging segment emerged as the largest type segment in the year 2020 and accounted for the largest revenue share of 52.4%.
Rigid solutions provide stronger support to the goods that are packed with firm bases and barrier walls.
The flexible fresh food packaging segment is expected to witness a CAGR of 5.6% over the forecast period.
Flexible packages including films such as shrink film, stretch film, and pouches offer greater convenience in handling as they are lightweight and easy to carry.
Pouches and bags are compact and thereby occupy less space in warehouses and retail stores leading to high growth of the market for fresh food packaging.

Based on the Material Insights, the market is segmented into Plastic, Paper & Paper Board, Bagasse, Polylactic Acid, and Others.

The plastic material segment dominated the market for fresh food packaging and accounted for the largest revenue share of 37.2% in 2020 owing to its low cost, durability, and abundant availability.
The paper and paper board segment emerged as the second-largest material and is a sustainable alternative for plastics.

Based on the Application Insights, the market is segmented into Eggs, Meat, and Seafood, Fruits and Vegetables, and Dairy Products.

The fruits and vegetable application segment is expected to witness a CAGR of 4.9% in terms of revenue over the forecast period.
The Eggs, meat, and seafood segment emerged as the second-largest application segment in the market for fresh food packaging in the year 2020 driven by growing meat, fish, and eggs consumption in the developing and developed economies around the globe.

Fresh Food Packaging Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies & Market Share Insights

The market for fresh food packaging is highly competitive with the presence of many global and local players. The market is fragmented in nature with key players dominating it. New players are constantly involved in developing innovative products and increasing their penetration in the local market to compete with existing players. Major market players are constantly acquiring smaller market participants to increase their share in the global market for fresh food packaging.

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