The North America frozen food packaging market is expected to register a CAGR of 5% over the forecast period 2021-2026. Anchoring this growth is the increasing demand for convenience by consumers, increase in disposable income, and changing consumer behavior.
- The major categories of packaged food are bakery products and frozen processed food. Some of the emerging categories in this sector are frozen ready-to-eat foods. Storage life can be extended notably by making storage temperatures colder. Consumer’s expectations of food quality are rising.
- There is an increase in the frozen food packaging market with the consumer appreciation of the product quality. With the growth in the economy and changing lifestyles, there is an increased demand for frozen food packaging in North America and the market is expected to grow lucratively during the forecast period.
- Majority consumers of frozen food products prefer large retail stores, supermarkets, and hypermarkets. Organized retail stores are a significant part of large retail chains, that have a huge presence in the global market. The growth in the organized retail chain is translating directly into the demand for food packaging solutions in the frozen food industry.
- For instance, Walmart is expected to host more than 11,000 stores, worldwide, and Amazon Go. Amazon is expected to open more than 3,000 cashier-less stores by 2021. Hence, the frozen food packaging market is expected to flourish.
- The impact of COVID-19 on the market is significant in the short-run, as the lockdown has brought the entire packaging supply chain to an almost grinding halt. However, with online shopping on the rise, the market is expected to rebound in the long-run.
Key Market Trends
Bags Packaging Type to account for a major share in the Market
- Various factors, such as changing lifestyle, increasing disposable income, and rapid urbanization in developing countries, especially the growing middle-income population, are increasing the demand for bags for frozen food. In the United States, the growing adoption of freezer bag has increased the growth of the frozen food packaging market.
- Plastic bags are available in different sizes and shapes. It offers several benefits, such as the ability to tolerate temperatures, and technical advantages, which is further fuelling the demand for bags in frozen food packaging.
- Ziploc bag is an important example of bag packaging. This type of bag is available in various sizes and can be used for storing meat and dairy food.
- For instance, dairy products can be frozen in freezer bags, as these are ideal for short-term usage and saving space. Another major trend being followed is customizing the product based on client requirements.
United States to Witness Significant Growth Rate
- With the growing demand for frozen food packaging, players are making a significant investment in product innovation, thereby augmenting market growth in the country. The proliferating e-commerce in the country is boosting the demand for the packaging. Its efficiencies, coupled with the comfort of comparison shopping, also influence down prices in several sectors. As business insider reports, e-commerce is driving retail growth virtually, and its influence on flexible packaging may develop in the region.
- The retail industry in the US is highly competitive due to established food retailers such as Walmart, Kroger, and Albertsons, thereby driving the growth of the country's market. Moreover, based out of the United States, Walmart is the largest global retailer and the largest of its kind in the world. Of the top 10 largest retail companies globally, five are based out of the United States, which makes the country the foremost in the retail industry.
- Also, the demand for frozen food packaging products is generally driven by millennial customers in the country, as they have an ardent preference for single-serving and on-the-go style food and beverage foodstuffs.
- These products are generally designed to be portable, durable, and lightweight; frozen food packaging stands to be a famous option to pack such products. The increasing demand for snack foods, both in terms of processed foods and fresh items, is expected to govern the demand.
The North American Frozen Food packaging market is fragmented and consists of several major players. The major players with a prominent share in the market are focusing on expanding their customer base across foreign countries.
- June 2021 - Mondi PLC, is increasing capacity for their paper-based MailerBAG range to further replace plastic packaging in eCommerce with a recyclable solution made of responsibly sourced renewable materials.
- November 2020 - Toppan Co. Ltd launched new eco-friendly packaging for frozen food, such as meat, processed seafood, and other primary products kept in frozen storage for long periods of time. The product is developed by leveraging original vapor-deposition and coating technologies to reduce oxidation and therefore prevent discoloration, loss of flavor, and changes in food texture for a longer period than is possible with conventional packaging.
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Table of Contents
1.2 Scope of the Study
4.2 Market Drivers
4.2.1 Increasing demand for convenience by consumers
4.2.2 Increase in disposable income and changing consumer behavior
4.3 Market Restraints
4.3.1 Government Regulations and Interventions
4.4 Value Chain / Supply Chain Analysis
4.5 Industry Attractiveness - Porter's Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of Covid-19 in the market
4.7 Technology Overview
4.7.1 Technology Snapshot
4.7.2 Type of frozen food packaging products
4.7.3 Primary materials used for frozen food packaging
4.7.4 Ongoing developments
5.2 By Type of Packaging
5.2.3 Tubs and Cups
5.2.7 Other Types of Packaging
5.3 By Type of Packaging Product
5.4 By Country
5.4.1 United States
5.4.3 Rest of North America
6.1.2 Amcor Ltd
6.1.3 Genpak LLC
6.1.4 Graham Packaging Company, Inc.
6.1.5 Ball Corporation Inc
6.1.6 Crown Holdings
6.1.7 Tetra Pak International
6.1.8 Placon Corporation
6.1.9 Toyo Seikan Group Holdings, Ltd.
6.1.10 WestRock Company
6.1.11 Nuconic Packaging
6.1.12 The Scoular Company
6.1.14 Rexam Company
6.1.15 Alcoa Corporation
A selection of companies mentioned in this report includes:
- Amcor Ltd
- Genpak LLC
- Graham Packaging Company, Inc.
- Ball Corporation Inc
- Crown Holdings
- Tetra Pak International
- Placon Corporation
- Toyo Seikan Group Holdings, Ltd.
- WestRock Company
- Nuconic Packaging
- The Scoular Company
- Rexam Company
- Alcoa Corporation