Fresh Food Packaging Market Profit-Sources Analysis Report 2022-2033
Fresh Food Packaging Market Overview
The global Fresh Food Packaging Market Value was USD 131.37 billion in 2021. The market analysts anticipate that this market will grow at a CAGR of 5.68% and will achieve revenue of USD 184.53 billion within the period 22022–2028.
Due to the COVID-19 pandemic, the overall production and transportation facilities of different industries were halted and it affected the Fresh Food Packaging Market as well. But, at the same time, there was a huge surge in the demands for ready-to-cook and ready-to-serve foods. Home deliveries of food items had increased manifold. All these have helped the global Fresh Food Packaging Market to revive and have steady growth during the forecast period.
With the continuous rise in the demands for convenience food items and extended shelf-life for foods, new opportunities have opened up for the expansion of Fresh Food Packaging Market Size in the coming years.
Continuous rise in the price of crude oil due to geopolitical tensions and other factors may lead to the unavailability of plastic resins which are used as packaging materials. Another challenge for this market is the strict regulations by the governments of different countries to curb the excess production of plastic wastes. At the same time, this would open up opportunities for the other types of fresh food packaging materials like bagasse and paper board.
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Market Segmentation
Based on material, the market is further divided into metal, glass, paper paperboard, bagasse, plastics, and others. The plastic segment is further divided into flexible and rigid segments. The maximum portion of the Fresh Food Packaging Market is dominated by the plastic sector because of its low price and easy availability. The paper paperboard sector is also anticipated to do well in the coming years because of the rising demand for bio-degradable materials for packing food items.
Based on the end-user, the market is again divided into fruit, vegetables, meat products, dairy products, and others. The fruits and vegetable sector occupies a large portion of the Fresh Food Packaging Market Revenue but dairy, meat, and seafood sectors are expected to grow during the forecast period.
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Regional Classification
Based on region, the global Fresh Food Packaging Market is divided into South America, North America, Asia-Pacific, Europe, and Africa Middle East.
The market of the Asia-Pacific region is expected to maintain a steady growth during the forecast period due to increasing population, rise in population with disposable income, and lifestyle change.
Industry News
The key players of the global Fresh Food Packaging Market are constantly trying to expand their presence by launching new products, adopting the latest technologies, having joint ventures, and acquisitions of smaller companies.
In February 2019, Sealed Air had acquired the flexible packaging business of MGM so that it could expand its business portfolio.
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