Global Frozen Food Packaging Market 2016-2020
Outlook of the global frozen food packaging market
Technavio’s market research analyst predicts the global frozen food packaging market to grow at a CAGR of approximately 5% by 2020. The rising need to reduce food wastage is one of the major factors fueling market growth. Food wastage has become a major concern worldwide, as nearly one-third of the food produced for human consumption is wasted. To reduce such instances of food wastage, the demand for packaging solutions is continually increasing as it helps to increase the shelf life of food products that are sensitive to changes in environmental conditions.
In terms of geography, the EMEA region is envisaged to account for more than 37% of the total market share by the end of 2020. The rising demand for frozen food specialties, especially in regions like the UK and Germany, will foster the need for frozen packaging solutions during the forecast period. Furthermore, with the growth of the plastic films market, the market for frozen food packaging in this region will witness a steady increase as it is useful in the development of shrink pouches and stand-up pouches.
Segmentation by food type and analysis of the frozen food packaging market
- Meat, poultry, and seafood
- Frozen specialties
- Fruits and vegetables
- Baked goods
In this segmentation analysis, analysts have estimated the meat, poultry, and seafood segment to account for more than 34% of the total market share by 2020. The populace’s growing demand for packed meat, poultry, and seafood products coupled with their augmented demand for ready-to-eat packaged products will incite the prospects for growth in this market segment during the forecast period.
Segmentation by packaging product and analysis of the frozen food packaging market
- Tubs and cups
At present, the boxes segment dominates this market and will account for an impressive market share of more than 34% until the end of 2015. This segment is closely followed by the bags segment, which consists of packaging products that are pre-designed for the specific frozen products packaged in them.
Competitive landscape and key vendors
A detailed vendor analysis carried out by the analysts at Technavio has identified eminent factors, such as the global, regional, and local economic conditions; changing demographic trends; rapidly changing consumer behavior; and fluctuating consumer preferences, to negatively impact the shares of vendors in this market. Providers in the frozen food packaging market actively measure customer preferences to understand the market requirements. Due to an increase in the demand for fresh food products, vendors have a huge scope for innovation in the field of packaging products. However, fierce competition among the vendors will hurt the pricing of products and profit margins of manufacturers.
Top vendors in the market are -
- Crown Holdings
Other prominent vendors in the market include AEP Industries, American Packaging, Anchor Packaging, Ball, Bemis, Berry Plastics, Bomarko, Cascades Sonoco, Coveris, Dolco Packaging, Exopack Holding, InterFlex Group, International Paper, Leucadia National, LINPAC Packaging, Packaging Corporation of America, Packman, Robbie Manufacturing, and Sonoco Products.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global frozen food packaging market?
- What are the key market trends impacting the growth of the frozen food packaging market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global frozen food packaging market?
- Trending factors influencing the market shares of the APAC, Americas, and EMEA.
- What are the key outcomes of the five forces analysis of the frozen food packaging market?
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