April 14, 2022 03:56 ET | Source: Vantage Market Research Vantage Market Research
WASHINGTON, April 14, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Fresh Food Packaging Market finds that the increase in demand for convenience food items is expediting market growth. Primarily driven by rising adoption of eco-friendly packaging, the total Global Fresh Food Packaging Market is estimated to reach USD 95.93 Billion by the year 2028.
The Global Market stood at a revenue of USD 78.50 Billion in the year 2021, and expected to exhibit a Compound Annual Growth Rate (CAGR) of 3.4%.
Furthermore, the growing stringent government regulations worldwide is also anticipated to augment the growth of the Global Fresh Food Packaging Market, states Vantage Market Research, in a report, titled “Fresh Food Packaging Market Size, Share & Trends Analysis Report by Material (Polypropylene, Polyethylene, Paper, Aluminium), by Pack Type (Gusseted bags, Flexible paper, Corrugated box, Boxboard), by Application (Meat products, Vegetables, Seafood, Fruits), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Increase in Demand for Convenience Food Items to Fuel Global Fresh Food Packaging Market
The increasing demand for convenience food items is expected to fuel the growth of the Fresh Food Packaging Market during the forecast period. This is attributable to the increasing purchasing power of consumers and greater time constraints due to the busy schedule and lives of people. Due to the greater time constraints from childcare, work, and commuting, people often turn to convenience foods. Convenience saves time which is required in food purchase, preparation, and clean-up. The convenience foods include packaged food such as salad bags, chopped vegetable bags, fresh herbs pack, vegetable trays, and single-serve salad packaging. This type of food comes in innovative packaging to keep the food fresh and healthy further supporting the growth of the market. Additionally, factors such as working-class women and single parents also contribute to the demand for convenience food items.
Key Insights & Findings from the Report:
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Segmentation of the Global Fresh Food Packaging Market:
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Rising Adoption of Eco-friendly Packaging to Augment Market Growth
The increase in adoption of eco-friendly packaging solutions is anticipated to augment the growth of the Fresh Food Packaging Market within the estimated period. This is attributable to the increasing concerns about environmental and human health effects of using non-degradable materials for packaging along with stringent government regulations on reducing environmental pollution and encouraging end-use sectors to opt for eco-friendly solutions. The eco-friendly food packages use sustainable bioplastics and plant-based extracts, like wood, wheat, and bamboo, which are reusable, biodegradable, and free of hazardous chemicals. Glass containers, stainless steel, bamboo, rice husk and gelatin films are some of the eco-friendly food packaging options available in the market. Additionally, the increasing foodservice operators and retail chains in various economies are likely to switch to a sustainable solution from plastic packaging in order to attract an environment-conscious consumer base. Thus, the above-mentioned factors are expected to drive the demand for eco-friendly fresh food packaging in the years to come.
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the packaging industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
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The report on Fresh Food Packaging Market highlights:
● Historic Data, Estimates and Forecast
Asia Pacific to Dominate the Global Fresh Food Packaging Market
Asia Pacific has dominated the Global Fresh Food Packaging Market in 2021 and is likely to continue the same trend during the forecast period. China dominated the Asia Pacific region in 2021. This is attributable to the rising population, industrialization, and urbanization in the region. Furthermore, the high demand for fresh food products along with growing consumer awareness and stringent government regulations is also anticipated to encourage the adoption of sustainable packaging solutions. North America is expected to grow at a considerable CAGR during the forecast period owing to the presence of developed application industries in the region and increasing focus on reducing the use of plastics in the food and beverages industry.
List of Prominent Players in the Fresh Food Packaging Market:
Browse market data Tables and Figures spread through 172 Pages and in-depth TOC on "Fresh Food Packaging Market Size, Share & Trends Analysis Report by Material (Polypropylene, Polyethylene, Paper, Aluminium), by Pack Type (Gusseted bags, Flexible paper, Corrugated box, Boxboard), by Application (Meat products, Vegetables, Seafood, Fruits), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/fresh-food-packaging-market-818656
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June, 2020: Cascades announced the launch of its new range of Cascades Fresh TM packaging products for fruits and vegetables. Designed for producers, packers and retailers, Cascades Fresh TM packaging solutions meet the needs of this key industry while also addressing consumers’ concerns about the environmental footprint of their foodstuffs.
June, 2019: Zume announced the launch of new plant-based packaging system for fresh foods and food delivery. The new system, Zume Source Packaging, is claimed to be the first-of-its-kind packaging technology that uses plant-based materials to create a cost-competitive alternative to plastic.
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