Global Fresh Food Packaging market - Demand for convenience food, shelf life expansion of fresh food and growing attentiveness are the major drivers
According to a new market report published by Stratistics, the Global Fresh Food Packaging market is accounted for $78.3 billion in 2014 and is expected to reach $104.3 billion by 2022 growing at a Compound Annual Growth Rate (CAGR) of 3.6% during the forecast period. The factors that are driving the market are demand for convenience food, shelf life expansion of fresh food and growing attentiveness of packaged food among consumers. Rising raw material prices are the major restraints of the market. The key challenge lies in supervision of packaging waste.
On the basis of material, the Fresh Food Packaging market is segmented as Polypropylene (PP), Polyethylene, Polyvinyl Chloride (PVC), Paper, Biaxially oriented polyethylene terephthalate (BOPET), and Aluminum. Polyethylene commanded the largest market revenue of $21.92 billion in 2014. However Polypropylene (PP) segment is expected to grow at a faster pace with a CAGR more than 4.50% during the forecast period.
On the basis of pack type, the Fresh Food Packaging market is segmented as Gusseted Bags, Corrugated Box, Semi-Rigid, Converted Roll Stock, Flexible Paper, Rigid and Others. Gusseted Bags commanded the largest market revenue of $22.3 billion in 2014. Gusseted bags are designed to protect products which require a high level of protection from oxygen. It is a pre made bag with two side gussets, sealed at the bottom and a single seal which can be at the back of the bag centrally or incorporated into a side seal. However Flexible Paper segment is expected to grow at a faster pace with a CAGR more than 4.4% during the forecast period.
On the basis of application, the Fresh Food Packaging market is segmented as Vegetables, Fruits, Converted Roll, Seafood and Others. Vegetables commanded the largest market revenue of $29.9 billion in 2014. Packaging fresh vegetables is one of the most significant steps in the long and difficult journey from grower to consumer. Packaging film for vegetables is never quite resistant to oxygen, carbon dioxide and watervapours. Even though the packaging film is welded quite tight, these gasses will be transported through the film. However Meat & Meat Products is expected to grow at the faster pace with a CAGR more than 4.10% during the forecast period.
On the basis of point of sale, the Fresh Food Packaging market is segmented as Bulk and Retail. Bulk commanded the largest market revenue of $53.56 billion in 2014. However Retail is expected to grow at the faster pace with a CAGR more than 4.90% during the forecast period.
Browse the full market research report at "Fresh Food Packaging Market Outlook - GlobalTrends, Forecast, and Opportunity Assessment (2014-2022)”
This report also covers trends driving each segment and offers analysis by geography, with key regions such as North America, Europe, Asia Pacific and Rest of the World. Among these regions, Europe accounted for the largest market share in 2014. The Rest of the World is expected to grow at the faster pace with a CAGR more than 5.1% during the forecast period.
The European fresh food packaging market is buyer-oriented. Increasing population and increasing awareness of fresh packaged food drive the growth of the European fresh food packaging market. With increasing awareness about global warming and concerns about the environment, people are opting for eco-friendly techniques of fresh food packaging, which has an impact on the market for European fresh food packaging products.
The key players in the Fresh Food Packaging market include Silgan Holdings, Inc., E.I. Du Pont De Nemours and Co., Sealed Air Corporation, Coveris Holdings S.A, DS Smith PLC, Amcor Limited, Mondi PLC, Rocktenn Company, International Paper Company and Bemis Company, Inc.
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