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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.
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.
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.
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.
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.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by type of food product
PART 07: Market segmentation by type of packaging product
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Explore Technavio
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