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
Increasing awareness regarding the healthy food products and growing incidence of food-borne illnesses are propelling the demand for fresh food products. Coupled with this, growing consumption of meat-free and gluten-free food products will create a conducive environment for sales.
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The growing environmental concerns and stringent government regulations regarding the use of plastic have improved the demand for sustainable paperboard and corrugated boxes for produce packaging. In order to capitalize on this trend, key companies are focusing on developing sustainable and innovative produce packaging solutions.
For instance, in September 2021, Jujo Thermal announced the launch of Shieldplus, a game-changing recyclable fiber-based barrier material for food produce packaging. These products provide a sustainable solution for packaging of dry, moist and fatty foods, which also has excellent barrier properties to protect the contents and to maintain their quality.
A plethora of such developments will aid the growth in the produce packaging market over the coming years. Against this backdrop, FMI estimates, the global produce packaging market is poised to expand at 4.4% CAGR between 2021 and 2031.
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
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“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.
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.
Get Valuable Insights on Produce Packaging Market
Future Market Insights, in its updated report, presents an exhaustive analysis on the global produce packaging market, covering historical demand data and forecast figures for the period between 2021 and 2031. The study divulges compelling insights on growth drivers and market potential in detailed segmentation basis of application (food grains, vegetables, and fruits),
end user type (growers/shippers, re-packers, and retail stores), and packaging type (corrugated boxes, bags & liners, plastic containers (cups, tubs, bowls etc.), trays, and other packaging) across seven major regions including North America, Latin America, Europe, Asia Pacific excluding Japan, Middle East & Africa, and Japan.