“According to Future Market Insights, the global market of frozen food products is projected to reflect a CAGR of 7.5% over the forecast period, 2022-2032”
Growing preference for fresh food products is projected to rev up demand for the frozen food packages in the food and beverages industry. In addition, increasing demand to deliver frozen desserts products is projected to impact growth of the global market of frozen food packaging positively. According to Future Market Insights, the global market of frozen food products is projected to reflect a CAGR of 7.5% over the forecast period, 2022-2032.
Factors Fuelling the Global Market Growth
Growth of the global frozen food packaging market is mainly bound to various micro-economic and macro-economic factors. Demand for the frozen food packages will continue to increase attributed to surge in the food delivery system. In an attempt to attract customers, manufacturers in the food and beverages industry are increasingly offering frozen food products through the online portals.
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Moreover, surge in demand for frozen dessert products among customers has further contributed towards growth of the global frozen food packaging market. With the growing need to protect the food products from exposure to extreme weather conditions and moisture, manufacturers are implementing enhanced packaging solutions such as temperature controlled and tamper-proof packaging.
Bound to these factors, sales of the frozen food packages in the food and beverages industry is projected to witness robust growth throughout the forecast period.
Packages for frozen food products also remain concentrated among the suppliers of the frozen food products. Manufacturers in the food and beverage industry witness significant demand for frozen food products as they have a fresh flavor and can be preserved for comparatively long time.
Suppliers of prefer opting for frozen food product packages in order to protect the product from moisture and unprecedented climate conditions. These factors are projected to fuel demand for the frozen food packages in the food and beverage industry positively.
On the other hand, high quantity of sodium in various frozen food products has led to a drop in the sales of the frozen food products, which has in turn led to a drop in demand for the frozen food packages.
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In addition, increasinglBHiLJLUwVKkdusa0ft_6rvuVc_aQnrflfzu5huCcHf6LrNzCEtLVznQhy2K7XBBMFm8OQgyQUKPIOrF3FIPYWQGUN1SfwT_jYDyJMz-lKdrNWL8SDBvTC8Vozf5awzBIU3vxDcnbdWTBPt5seIwtXDUJzKVHQ9ouvfnGKowv9J377 prices of the frozen food products add to the overall cost price of the product, which is projected to witness drop in demand for the frozen food packages. These factors are projected to inhibit growth of the global market of frozen food throughout the forecast period.
Plastic Materials to Witness Robust Demand
With the increasing demand for tamper-proof packaging, manufacturer prefer using plastic materials for frozen food product packaging. By packaging material, the plastic segment is projected to represent relatively high revenue growth, reflecting more than US$ 7,000 Mn by 2022-end. On the other hand, the paper & paperboard segment is expected record a relatively high CAGR through 2022.
Based on the packaging type, the bags & pouches segment is projected to register a robust CAGR, recording more than US$ 2,000 Mn by 2017-end. During the forecast period, the frozen specialties application type segment is expected will reflect a healthy CAGR.
On the other hand, the meat, poultry & seafood segment is projected to account for more than US$ 3,000 Mn by 2022-end. Europe will continue to remain a leading market for the frozen food packages globally.
Market Players
Major player in the global market of frozen food packages are Ball Corporation, Amor Ltd., Crown Holding Inc., Bemis Company Inc., Pactiv LLC., International Paper Company, Sonoco Products Company, Sealed Air Corporation, Printpack Inc., Berry Global Group Inc. and Huhtamaki Oyj.
For further insights into the global frozen food packaging market, write in to Future Market Insights analysts at press@futuremarketinsights.com
About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help