NEW YORK, Oct. 19, 2015 /PRNewswire/ -- The demand for fresh food packaging has increased exponentially in recent times mainly due to increasing health awareness concerns, emphasis on the quality of products and services, and the convenience of packaged fresh food.
Major fresh food packaging companies and associations emphasize on spreading awareness about fresh food packaging, their lucrativeness for health and the environment, and cost-effectiveness.
The key players in the market have a strong distribution network across the world and the financial strength to sustain them. The same cannot be said about new entrants in the market. For the fresh food packaging market, it is essential to have a strong distribution network to enable timely delivery of the product to consumers whenever needed and to maintain standards. The players in the global fresh food packaging market are well-established. Hence, it is difficult for new players to enter the market and compete with established players.
The key players adopted inorganic growth strategies such as mergers and acquisitions to increase their scope in the market. These companies aimed at strengthening their position globally. They invested considerably to acquire fresh food packaging businesses of local as well as established market players to reinforce their market position in the particular region.
Increasing population and increasing awareness of fresh packaged food drives the growth of the global fresh food packaging market. Factors such as increasing raw material costs, severe issue of disposal of waste material generated during the manufacturing process are the biggest challenges faced by the key players in the market.
The global fresh food market is marked with intense competition due to the presence of a large number of both, big and small firms. New product launches, mergers & acquisitions, and partnerships and expansions are the key strategies adopted by market players to ensure their growth in the market. The key players in the market are Amcor Limited (Australia), Coveris Holdings S.A (U.S.), Smurfit Kappa Group (Ireland), E. I. du Pont de Nemours and Company (U.S.), Mondi Plc (South Africa), Bemis Company, Inc. (U.S.), International Paper Company (U.S.), D.S. Smith Plc (U.K.), Silgan holdings Inc. (U.S.), RockTenn Company (U.S.), and Sealed Air Corporation (U.S.).
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