The Europe Frozen Food Packaging Market has been valued at USD 52.59 Billion in 2020 and is expected to grow at a CAGR of 6% during the period 2021-2026.The Covid-19 pandemic resulted in a growing demand for frozen food packaging in the region, due to new or heightened hygiene and consumer-safety concerns, and the drive for redefined sustainability. Technological innovation, sustainability trepidations, and attractive economics are the major factors driving the growth of innovative and more sustainable, frozen food packaging. Also, the increasing market demand for customer-friendly packages and heightened product protection are expected to drive the growth of the market in Europe.
- 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 Europe and the market is expected to grow lucratively during the forecast period.
- New packaging technologies, such as active packaging, intelligent packaging, and engineering science, have evolved over the years, which enables flexible packaging of food products. Companies are adopting eco-friendly packaging by using biodegradable packaging material which can be recycled, renewed, and reused.
- However, the market is anticipated to remain highly regulated with agencies such as the European Commission imposing stringent regulations regarding the use of food packaging types and food contact materials and slow growth of packaged food market is hampering the market growth.
Key Market Trends
Increasing demand for convenience by consumers
- 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. The increase in population density has increased demand for packaged food in general with millenials contributing to the growth.
- After packaging, it takes time for packaged food to reach consumers across various parts of the world. The packaged food may not be fresh and might lose its aroma and taste before reaching the consumer. The threat of food being spoilt before reaching the consumer is increasing, as it would result in a loss of the capital invested in the packaging.
- To overcome this, food processing industries are investing in technologies and various new packaging techniques, such as intelligent packaging and engineering science, which help in increasing the shelf life of the product. This is reason for the increased demand of frozen food in the industry. Organizations are focusing on consumer satisfaction, apart from revenues, as it impacts the image and value in the market.
- According to a survey of American Adults by Consumer Action, in July 2019, 34% of adults have knowledge of most recyclable food packaging material as cardboard, followed by plastic 26%, glass 21%, and metal 8%.
- Also, the demand for frozen food packaging products is generally driven by millennial customers in the region 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.
Glass Packaging to Drive the Market
- According to FEVE- The European Container Glass Federation, the container glass industry represents close to 70% of all glass production in Europe. It also states that the products packed in glass are massively exported and contribute to a positive trade balance of about EUR 21 billion per year.
- This is indicative of the fact that the market holds significant potential to grow. According to the European Container Glass Federation (FEVE), two out of five Europeans choose glass because they perceive it as being more recyclable than other materials providing a recycling rate of 76 % of high glass collection.
- Almost half all Europeans (48%) recognize that glass is the best packaging material for addressing climate change. The Heiz-Glas Group has invested more than EUR 40 million in Poland in the past two years. Also, Premi SPA, an Italian firm, has invested in Poland's new glass production factory, with a focus on 'cutting-edge glassworks.'
- However, the impact of COVID-19 significantly affected the market growth. With the outbreak of COVID-19 in the region, all the end-user sector is exempted from shutdown due to the primary needs of consumers. For instance, the European Union is assessing delays in drug shipments from Asia due to production shortages in the region.
The Europe Frozen Food packaging market is moderately 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 Group expanded its range of plastic-free eCommerce packaging with MailerBAG range of sustainable paper solutions, which is fully recyclable in existing paper waste streams and replaces the need for plastic packaging. The company also recently invested in its European plants to deliver approximately 350 million paper bags per year for the online retail industry. Also, in the same month, Mondi’s paper-based EcoWicketBag won gold in 2021 EUROSAC Grand Prix, for its overall performance, reduction of CO2 emissions and convenience for the customer.
- September 2020 - Amcor Ltd introduced the world's first recyclable flexible retort pouch. The technical breakthrough, which many considered impossible, follows years of dedicated research and investment.
- The market estimate (ME) sheet in Excel format
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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 Product
5.2.3 Tubs and Cups
5.2.7 Other Types of Packaging
5.3 By Type of Food Product
5.3.1 Readymade Meals
5.3.2 Fruits and Vegetables
5.3.4 Sea Food
5.3.5 Baked Goods
5.4 By Country
5.4.1 United Kingdom
5.4.6 Rest of Europe
7.1.2 Amcor Ltd
7.1.3 Genpak LLC
7.1.4 Graham Packaging Company, Inc.
7.1.5 Ball Corporation Inc
7.1.6 Crown Holdings
7.1.7 Tetra Pak International
7.1.8 Placon Corporation
7.1.9 Toyo Seikan Group Holdings, Ltd.
7.1.10 WestRock Company
7.1.11 Nuconic Packaging
7.1.12 The Scoular Company
7.1.14 Rexam Company
7.1.15 Alcoa Corporation
8 INVESTMENT ANALYSIS
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