Frozen Food Packaging Market Size to Reach USD 60.58 Billion in 2028; Technological advancements in the packaging industry is a key factor driving growth of the frozen food packaging market, Says Reports and Data
Market Size - USD 39.78 Billion in 2020, Market Growth - at a CAGR of 5.5%, Market Trends - Rising demand for sustainable frozen food packaging
NEW YORK, July 26, 2021 /PRNewswire/ -- The global frozen food packaging market size is expected to reach USD 60.58 Billion in 2028 and register a CAGR of 5.5% during the forecast period, according to a latest report by Reports and Data. Rapid global frozen food packaging market revenue growth can be attributed to increasing international trade of frozen food products, improved transportation facilities and logistics, and increasing consumption of frozen food products in emerging markets of South America and Asia Pacific. Emergence of innovative refrigerator displays in supermarkets, advances in freezing technologies, and presence of better and faster supply chain is contributing to increasing sales of frozen food and packaging solutions which are required to prevent food spoilage. Technological advancements in cold chain and developments in the retail landscape are boosting market revenue growth. Technological advancements have helped flexible packaging manufacturing companies in the development of more improved packaging designs and supply of new film types.
Increasing penetration of online food delivery services in developing countries is supporting growth of the frozen food packaging market. Convenience offered by online grocery shopping channels is a key factor boosting sales of frozen meat, vegetables, and ready meals. Shift in preference towards sustainable packaging is boosting demand for more eco-friendly alternatives in packaging materials for frozen food, which include molded pulp, paper, and bioplastics. Major players such as ProAmpac LLC, Smurfit Kappa Group, American Packaging Corporation, and Amcor plc are increasingly investing to meet growing demand for sustainable packaging solutions.
Some Key Highlights From the Report
In March 2020, Sonoco Products Company collaborated with Tellus, which is packaging company based in Florida, US, launched the sugarcane-based fiber bowl. The fiber bowl is the first product launched by the company which is 100% U.S. sourced sugarcane-based fiber bowl for refrigerated, prepared, and frozen foods. The fiber bowl is branded as Natrellis and is dual-ovenable, PFAS-free, and acts as an alternative to traditional rigid plastic packages.
Bags segment revenue is expected to register a rapid growth rate over the forecast period. Increasing consumption of frozen food owing to rising disposable income and changing lifestyle of consumers is driving demand for bags for frozen food.
Plastics segment is expected to account for a considerably large revenue share in the global frozen food packaging market owing to excellent barrier properties. Plastic packaging is widely utilized for packaging of frozen food products due to ability to maintain quality of the contents.
Meat, poultry, & seafood segment revenue is expected to expand significantly over the forecast period.
Asia Pacific frozen food packaging market revenue is expected to expand at a rapid CAGR over the forecast period. Increasing penetration of online food delivery services and increasing demand for frozen meats are projected to increase utilization of frozen food packaging in countries in the region.
For the purpose of this report, Reports and Data has segmented the global frozen food packaging market based on packaging type, material, product, and region:
Packaging Type Outlook (Revenue, USD Billion; 2018-2028)
Tubs and Cups
Material Channel Outlook (Revenue, USD Billion; 2018-2028)
Paper & Paperboards
Product Channel Outlook (Revenue, USD Billion; 2018-2028)
Meat, Poultry & Seafood
Fruits & Vegetables
Regional Outlook (Revenue, USD Billion; 2018-2028)
Rest of Europe
Rest of APAC
Rest of LATAM
Rest of MEA
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