Frozen Food Packaging Market worth USD 44.6 billion by 2027, registering a CAGR of 5.8% – Report by Market Research Future (MRFR)
New York, June 28, 2021 (GLOBE NEWSWIRE) — Frozen Food Packaging Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Frozen Food Packaging Market Research Report, Packaging Type, Application and Region – Forecast till 2027” the market is projected to be worth USD 44.6 billion by 2027, registering a CAGR of 5.8% during the forecast period (2021 – 2027),the market was valued at USD 32.5 billion in 2020.
Market Scope
Technological advancements including improved packaging designs in order to store, protect, and promote the product also play a vital role in augmenting the demand for frozen food packaging over the forecast period. Moreover, several value-added features including zippers, top notches, and the usage of high quality graphics is further expected to enhance market growth. In addition, growing demand for frozen food packaging products from several foodservice establishments is also anticipated to drive the market growth.
On the basis of material, the global frozen food packaging market has been segmented into plastic, paper & paperboard, metal, and others. Plastic is anticipated to dominate the overall market over the forecast period. Plastic is one of the most widely used material for frozen food packaging owing to several beneficial properties including heat resistance, heat sealing, and good barrier properties among others. In addition, plastic also offers a number of choices in terms of color and transparency.
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Competitive Analysis
Prominent players of the global frozen food packaging market –
- Anchor Packaging
- Packaging Corporation of America
- Genpack LLC
- AEP Industries Inc.
- Graham Packaging Company
- Printpack Inc.
- Sealed Air Corporation
- Amcor Ltd.
- Ball Corporation
- Leucadia National
- WestRock Company
- Graphic Packaging International Inc.
- Crown Holdings
Browse In-depth Market Research Report (115 pages) on Frozen Food Packaging
https://www.marketresearchfuture.com/reports/frozen-food-packaging-market-1249
Study Objectives of Frozen Food Packaging Market
· To provide detailed analysis of the market structure along with forecast for the next 10 years of various segments and sub-segments of the Frozen Food Packaging Market
· To provide insights about factors affecting the market growth
· To Analyze the Frozen Food Packaging Market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
· To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, APAC, and Rest of the World (RoW)
· To provide country level analysis of the market with respect to the current market size and future prospective
· To provide country level analysis of the market for segment by Packaging type, by Application and by Geography
· To provide strategic profiling of the key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
· To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Frozen Food Packaging Market
Segments
Packaging of frozen food market is segmented on the basis Packaging product type, by Application and by Region. On the basis Packaging product type it is segmented as Meat, Poultry & Seafood; fruits & vegetables; baked products and others. On the basis of application it is segmented as Boxes, bags, tubs & cups and others. Additionally on the basis of Region, it is segmented as North America, Europe, APAC and Rest of the World.
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Regional Analysis
APAC is pegged to dominate the frozen food packaging market owing to immense potential in China and India. Use of three-wheelers for transportation of goods and customers can drive the market demand. The region accounted for 97.6% market share in 2019 and expects to register 11.16% CAGR over the forecast period. High sales of e-rickshaws and unorganized players selling frozen food packagings can be lucrative for the global market. Changes in pollution standards and adherence to performance benchmarks which culminate in subsidies for electric vehicle manufacturers. The low total cost of ownership by procuring frozen food packagings in comparison to its fuel-based counterparts can favor the market.
Europe can be viable market for frozen food packagings owing to sustainable goals of countries and commitment to lower carbon emission levels. The shift to electrification of infrastructure and modes of transportation can be lucrative for the global market. Adherence to EPA regulations and mandates by vehicle manufacturers can bode well for the market.
Subsidies and Incentives to Boost Demand in Global Frozen food packaging Market
Frozen food packagings (E3W) are gaining their moment in the sun due to rampant electrification of vehicles and electric-friendly policies of all nations. The three-wheelers, namely e-rickshaws, are a popular mode of transport used in travel of low to medium distances. They have been employed in parts of Asia and Africa for ferrying passengers and goods. The global frozen food packaging market report on MRFR underscores the changing dynamics of electric variants of three-wheelers and its prospects for the forecast period (2020-2027).
The global frozen food packaging market will perform exceptionally owing to replacement and scrappage of old vehicles. Adherence to new emission policies and changing standards of noise and emissions can drive the market demand. Commitment by governments to shift from fossil fuels and establishing vehicle charging infrastructure and battery manufacturing plants can bode well for the market.
Segmentation of Market covered in the research:
Information by Packaging Type (boxes, bags, tubs & cups and others) by Application (Meat, poultry & seafood, fruits & vegetables, baked products others) and by Region
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