The global frozen food packaging market was valued at $39,855.1 million in 2021, and is expected to reach $63,980.5 million by 2031, registering a CAGR of 5.0% from 2022 to 2031.
Food products are highly perishable, thus, to avoid food wastage, to meet the needs of the rise in population, and to keep food businesses competitive and profitable, preservation of food (by freezing) is adopted by various food manufacturers. The deep-frozen food products are stored and used over a long period of time. Frozen foods are preferred over fresh foods, as they can be stored for longer period and be prepared in less time. The packaging of frozen food maintains the nutrition value of the food items and also increases its shelf life. Greater variation of packaging, such as boxes, bags, cups & tubs, trays, wraps, pouches, and others are adopted for various types of frozen food products to keep food fresh and convenient for use.
There is a growth in demand for frozen food in emerging economies, such as India and China. Increase in disposable income and rise of lifestyle have led to the changes in the dietary preferences of consumers. This in turn, is expected to boost the frozen food packaging market. The growth in participation of females in labor force increases the dependency on readymade and convenience food. This leads to rise in demand for frozen food, which further accelerates the growth of the frozen food packaging market. Packaging not only extends the shelf life of food products but is also used for decoration purposes. Continuous innovation and development in packaging of food items attracts customers and, thus, drives the overall growth of the market. Europe is the largest market for frozen food packaging, which accounted for approximately two-fifths of share in 2021, followed by North America, whereas, Asia-Pacific is expected to grow at the highest during the forecast period.
The frozen food packaging market is segmented on the basis of type, product, material, and geography. On the basis of type, the market is divided into boxes, bags, cups & tubs, trays, wraps, pouches, and others. On the basis of product, the market is classified into ready meals, meat & poultry, sea food, potatoes, vegetables & fruits, and soups. On the basis of material, the market is segmented into plastics, paper & paperboard, metals, and others, which includes glass and wood. On the basis of geography, the market is analysed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the report include, Amcor Ltd., Ball Corporation, Bemis Company, Inc., Crown Holdings, Inc., Graphic Packaging International, Inc., International Paper Company, Pactiv LLC, Sealed Air Corporation, Sonoco Products Company, and WestRock Company. The other key market players (not profiled in this report) in the value chain include American Packaging Corporation, Berry Plastics, Caraustar Industries, CM Packaging, Emmerson Packaging, Flair Flexible Packaging Corporation, Graham Packaging Company Huhtamaki N.A., LINPAC Group, and Sabert Corporation.
Food products are highly perishable, thus, to avoid food wastage, to meet the needs of the rise in population, and to keep food businesses competitive and profitable, preservation of food (by freezing) is adopted by various food manufacturers. The deep-frozen food products are stored and used over a long period of time. Frozen foods are preferred over fresh foods, as they can be stored for longer period and be prepared in less time. The packaging of frozen food maintains the nutrition value of the food items and also increases its shelf life. Greater variation of packaging, such as boxes, bags, cups & tubs, trays, wraps, pouches, and others are adopted for various types of frozen food products to keep food fresh and convenient for use.
There is a growth in demand for frozen food in emerging economies, such as India and China. Increase in disposable income and rise of lifestyle have led to the changes in the dietary preferences of consumers. This in turn, is expected to boost the frozen food packaging market. The growth in participation of females in labor force increases the dependency on readymade and convenience food. This leads to rise in demand for frozen food, which further accelerates the growth of the frozen food packaging market. Packaging not only extends the shelf life of food products but is also used for decoration purposes. Continuous innovation and development in packaging of food items attracts customers and, thus, drives the overall growth of the market. Europe is the largest market for frozen food packaging, which accounted for approximately two-fifths of share in 2021, followed by North America, whereas, Asia-Pacific is expected to grow at the highest during the forecast period.
The frozen food packaging market is segmented on the basis of type, product, material, and geography. On the basis of type, the market is divided into boxes, bags, cups & tubs, trays, wraps, pouches, and others. On the basis of product, the market is classified into ready meals, meat & poultry, sea food, potatoes, vegetables & fruits, and soups. On the basis of material, the market is segmented into plastics, paper & paperboard, metals, and others, which includes glass and wood. On the basis of geography, the market is analysed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the report include, Amcor Ltd., Ball Corporation, Bemis Company, Inc., Crown Holdings, Inc., Graphic Packaging International, Inc., International Paper Company, Pactiv LLC, Sealed Air Corporation, Sonoco Products Company, and WestRock Company. The other key market players (not profiled in this report) in the value chain include American Packaging Corporation, Berry Plastics, Caraustar Industries, CM Packaging, Emmerson Packaging, Flair Flexible Packaging Corporation, Graham Packaging Company Huhtamaki N.A., LINPAC Group, and Sabert Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the frozen food packaging market analysis from 2020 to 2031 to identify the prevailing frozen food packaging market opportunities.
- The market research is offered along with information related to key drivers, restraints, and frozen food packaging market opportunity.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the frozen food packaging market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global frozen food packaging market trends, key players, market segments, application areas, and market growth strategies
Key Market Segments
By Type
- Boxes
- Bags
- Cups And Tubs
- Trays
- Wraps
- Pouches
- Others
By Product
- Ready Meals
- Meat And Poultry
- Sea Food
- Potatoes
- Vegetables And Fruits
- Soups
By Material
- Plastics
- Paper And Paperboard
- Metals
- Others
By Region
- North America
- Europe
- Asia-Pacific
- LAMEA
Key Market Players
- Amcor Ltd.
- Ball Corporation
- BEMIS COMPANY, INC.
- CROWN HOLDINGS, INC.
- GRAPHIC PACKAGING INTERNATIONAL, INC
- INTERNATIONAL PAPER COMPANY
- PACTIV LLC
- SEALED AIR CORPORATION
- Sonoco Products Company
- WESTROCK COMPANY
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FROZEN FOOD PACKAGING MARKET, BY TYPE
CHAPTER 5: FROZEN FOOD PACKAGING MARKET, BY PRODUCT
CHAPTER 6: FROZEN FOOD PACKAGING MARKET, BY MATERIAL
CHAPTER 7: FROZEN FOOD PACKAGING MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Frozen Food Packaging Market, by Type, Product Type, and Material: Global Opportunity Analysis and Industry Forecast, 2020-2031' The frozen food packaging market was valued at $38,826.20 million in 2020, and is estimated to reach $63,980.50 million by 2031, growing at a CAGR of 5.03% from 2022 to 2031.Various types of packaging, such as boxes, bags, cups & tubs, trays, wraps, pouches, and others are used to package frozen food products. Packaging not only extends the shelf life of the product but maintains its nutritional value as well. Rapid rise in popularity of convenience, increase in the purchasing power, and changes in lifestyle in emerging economies (China, India, and others) largely supplement the growth of the frozen food products, such as frozen vegetables, fruits, potatoes, meats, sea food, ready meals, and soup, which in turn, fuel the growth of frozen food packaging market. Moreover, the growth in demand for attractive and innovative packaging in the food industry for product differentiation is also one of the factors that drives the frozen food packaging market growth.
Increase in popularity of fast-food restaurants, also known as the quick service restaurants (QSRs), majorly boosts the growth of the global frozen food packaging market. China and India stand out in terms of frozen food consumption, owing to their large population base and growth in number of QSRs such as McDonalds, Burger King, Wendy’s, Subway, and Dunkin’ Donuts, which contribute to the growth of the frozen food packaging industry. The business of QSR chains in India is expected to grow eight-fold, owing to rise in disposable income and increase in urbanization, which lead to higher consumption of packaged frozen food. According to the India Brand Equity Foundation (IBEF), by 2025, about 530 million people in India are anticipated to reside in urban areas, which offers an attractive opportunity towards the global QSR chains. This is expected to open potential opportunity for the manufacturers of frozen food packaging. Increase in demand for frozen ready meals due to increasing female participation in the workforce and changing family dynamics in developing regions, such as Asia-Pacific accelerate the growth of the frozen food packaging market. Sustainable packaging, low cost of manufacturing, and implementation of advanced technologies are few of the Frozen Food Packaging Market Trends suppoting the growth of the market worldwide.
Key findings of the Study
- Frozen food packaging market analysis predicts that Asia-Pacific is expected to grow at the highest CAGR of 7.8% during the forecast period, followed by LAMEA.
- Frozen food packaging for the ready meals segment accounted for the highest market share in 2021.
- Plastics-based frozen food packaging accounted for the highest Frozen Food Packaging Market Share in 2021 and is expected to grow at the highest CAGR of 5.7%.
- Europe generated the highest revenue, accounting for approximately $ two-fifths share of the market in 2021.
- North America frozen food packaging market size is anticipated to grow at a decent CAGR from 2022 to 2031.
Companies Mentioned
- Amcor Ltd.
- Ball Corporation
- BEMIS COMPANY, INC.
- CROWN HOLDINGS, INC.
- GRAPHIC PACKAGING INTERNATIONAL, INC
- INTERNATIONAL PAPER COMPANY
- PACTIV LLC
- SEALED AIR CORPORATION
- Sonoco Products Company
- WESTROCK COMPANY
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 160 |
| Published | March 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 39855.1 million |
| Forecasted Market Value ( USD | $ 63980.5 million |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
