The global chilled food packaging market is on a trajectory of substantial growth, with a robust compound annual growth rate (CAGR) of 7.5% projected during the forecast period. In 2022, the market is already valued at an impressive US$ 860.0 million, and this figure is expected to surge to a significant US$ 1,648.8 million by the year 2032. This expansion is fueled by the increasing demand for chilled food packaging across various end-users.
The plastic segment is poised to remain the dominant material for chilled food packaging due to its safety features, affordability, and easy availability. It is estimated to expand 1.6 times from 2022 to 2032.
The chilled food packaging market is characterized by positive growth prospects, with anticipated sales rising substantially from 2022 to 2032, creating an incremental growth opportunity of US$ 839.6 million. This remarkable growth is attributed to the changing dynamics of the frozen food industry, especially in light of the pandemic, which has driven increased demand for chilled food packaging. The market is expected to nearly double its current value during the forecast period, highlighting its significance in the evolving food packaging landscape.
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Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Chilled Food Packaging
With rising environmental concerns and the implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Chilled Food Packaging market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key Chilled Food Packaging Market Takeaways and Projections
- The U.S. is expected to lead the North America Chilled Food Packaging market, projecting the fastest growth in the region between 2022 and 2032
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2032.
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Report Benefits & Key Questions Answered
- Chilled Food Packaging Historical Market Analysis: The detailed survey by FMI, examines key factors in the Chilled Food Packaging market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Chilled Food Packaging market for the forecast period 2022-2032.
- Chilled Food Packaging Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Chilled Food Packaging for the assessment period. As per the study, the demand for Chilled Food Packaging will grow at a robust CAGR between 2022 and 2032.
- Chilled Food Packaging Market Trend Analysis: The latest study by FMI on the Chilled Food Packaging market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Chilled Food Packaging market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
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Market by Category:
By Material:
- Plastic
- Aluminum
- Paper & Paperboard
By Packaging Type:
- Boxes
- Tubs & Cups
- Cans
- Trays
- Pouches & Bags
- Films & Wraps
By Application:
- Ready-to-Eat Products
- Fruits and Vegetables
- Meat, Poultry, & Seafood
- Dairy Products
- Others (Soups, etc.)
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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