According to the report by Future Market Insights, the global produce packaging market will register a moderate CAGR during the forecast period. The overall sales in the market is expected to surpass US$ 33 Bn by 2021.Growing demand for meat-and gluten-free food products is driving the consumption of fresh produce. This is in turn fuelling the sales of produce packaging supplies. In 2020, the produce packaging market held nearly 9% of US$ 320 Bn worth of global food packaging market.
In terms of volume, the produce packaging market is poised to expand at 4.1% CAGR between 2021 and 2031. As per FMI, the global produce packaging market will register year-on-year growth of 3.7% in 2021. In terms of packaging type, corrugated boxes accounted for nearly half of the global market share.
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Produce Packaging Market- Category-wise Insights
Why is Produce Packaging More Preferred for Packaging of Fresh and Organic Fruits?
Growing trend towards healthier eating has increased the consumption of fresh fruits and vegetables. In response to this, local food vendors and retail stores are stacking up freshly-diced and cut fruits and vegetables with premium quality packaging to woo the consumers. Hence, application of produce packaging in fruits will account for the largest market revenue through 2031.
In addition to this, improving penetration of online grocery stores, especially in economies such as India, has increased the application of produce packaging in fruits and vegetables packaging.
Key Takeaways from FMI’s Produce Packaging Market Study
- In terms of packaging type, plastic containers are projected to exhibit fastest growth through 2021
- Re-packers end-use segment will account for nearly 50% of global market share through 2031
- China and Japan are identified as the key producers and exporters in the global produce packaging market
- South Korea produce packaging market represented nearly 7% of sales in global market between 2020 and 2021
“Key players in produce packaging market are collaborating with e-commerce food stores and local retail stores to gain competitive edge. In order to gain competitive edge, market players are focusing on developing compact and sustainable produce packaging solutions, which also meet the requirement from retail stores,” says the FMI analyst.
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Competitive Landscape
As per Future Market Insights, Mondi Group, Amcor PLC, Berry Global Inc., and Ball Corporation are identified as the top 4 players in produce packaging market. These players are expected to contribute around 8%-10% of global market revenue in 2021.
Key companies operating in produce packaging market are focusing on sustainability and introducing recyclable and eco-friendly packaging to attract consumers. Also, some of the players are introducing new launches to strengthen their global footprints.
Produce Packaging Market by Category
Application:
- Food Grains
- Vegetables
- Fruits
End User Type:
- Growers/Shippers
- Re-packers
- Retail Stores
Packaging Type:
- Corrugated Boxes
- Bags & Liners
- Plastic Containers (Cups, Tubs, Bowls etc.)
- Trays
- Other Packaging (Plastic Film, Molded Pulp Containers, Wooden Crates etc.)
Region:
- North America
- Latin America
- Europe
- Asia Pacific excluding Japan (APEJ)
- Middle East & Africa
- Japan
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