Wilmington, Delaware, August 27, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report titled: “Cold food packaging market by Material (Plastic, Aluminum, Paper & Cardboard), by Packaging Type (Boxes, Tubes & Cups, Cans, Trays, Pouches & Bags, Films & Wraps) by Application (Ready-to-Eat Products, Fruits & Vegetables, Meat, Poultry & Seafood, Dairy, Others): Global Opportunity Analysis and Industry Forecast, 2024-2033″According to the report, the “Cold Food Packaging Market” was valued at $0.9 billion in 2023 and is estimated to reach $1.8 billion by 2033, growing at a CAGR of 7.5% between 2024 and 2033.
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Key growth factors
The growth of the cold food packaging market is driven by modern lifestyles and urbanization leading to an increase in supermarkets and convenience stores, and advancements in packaging technology that ensure food safety and quality. Furthermore, increased consumer awareness regarding sustainability and environmental concerns has triggered a shift towards eco-friendly packaging solutions. This has led to a rise in the demand for recyclable and biodegradable materials and driven innovations in sustainable packaging practices. These combined factors create a favorable environment for the expansion of the cold food packaging market and cater to the evolving needs of both consumers and the food industry.
Report scope and details:
| Report coverage | Details |
| Forecast period | 2024–2033 |
| Base year | 2023 |
| Market size in 2023 | 0.9 billion US dollars |
| Market size in 2033 | 1.8 billion US dollars |
| CAGR | 7.5% |
| Number of pages in the report | 150 |
| Segments covered | Material, packaging type, application and region |
| driver | Urbanization leads to more supermarkets and convenience stores |
| Growing consumer awareness of sustainability | |
| Increasing demand for convenience food | |
| Opportunities | Expansion of online grocery shopping and delivery services |
| Increased focus on portion control and single-serving packaging | |
| Restrictions | Challenges in recycling and disposal of certain types of packaging |
Segment highlights
By material, plastic was the dominant segment. Plastic offers excellent barrier properties against moisture and oxygen, thus extending the shelf life of perishable foods. Its versatility allows the production of customized packaging shapes and sizes to meet a wide range of product requirements. In addition, plastic packaging is lightweight, which reduces transportation costs and environmental impact. The transparency of plastic allows consumers to see the product, increasing its appeal and marketing. However, concerns about plastic waste and environmental sustainability have spurred efforts to develop recyclable and biodegradable alternatives, influencing the future development of plastic packaging in the chilled food sector.
By packaging type, the pouches and bags segment dominates the cold food packaging market. First, their flexibility allows convenient storage and transportation of various cold food products, increasing consumer convenience. In addition, pouches and bags offer excellent barrier properties that preserve freshness and extend shelf life. Their lightweight design reduces packaging material and transportation costs and contributes to sustainability efforts. Moreover, innovative packaging designs and printing techniques enhance product visibility and brand differentiation and attract consumers. However, increasing environmental concerns have encouraged the development of eco-friendly alternatives and spurred research into biodegradable and compostable pouches and bags in the cold food packaging market.
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By application, cold food packaging has emerged as the dominant segment. Demand has increased due to the hectic and modern lifestyle of consumers, which leads to consumers looking for convenient and time-saving meals. Health-conscious consumers prefer cold ready meals over frozen alternatives due to their freshness and perceived nutritional benefits. Furthermore, increasing urbanization and changing dietary habits are contributing to the rising popularity of these products. Moreover, advancements in packaging technology ensure food safety and quality and enhance consumer confidence. Furthermore, expanding distribution channels such as online grocery platforms and convenience stores are making ready foods more available. However, competition from alternative food formats and health and nutrition concerns can influence consumer preferences and purchasing decisions in this market segment.
Regional outlook
North America accounts for a significant share and dominant position in the cold food packaging market. The region has a large and mature food industry with a diverse range of cold food products that cater to diverse consumer preferences. Second, North America is highly urbanized, leading to increased demand for convenient, ready-to-eat cold food products, which in turn drives the need for efficient packaging solutions. Furthermore, the region’s stringent food safety regulations require high-quality packaging materials and technologies, which further fuels the market growth. Moreover, North American consumers are often early adopters of new packaging trends and innovations, which encourages manufacturers to invest in advanced packaging solutions. These combined factors contribute to North America’s dominance in the cold food packaging market.
Players: –
- Amcor
- International Paper
- Mondi Group
- Ampac Holdings, LLC
- Sealstrip Corporation
- Sonoco Products Company
- Alto packaging
- Sealed Air Corporation
- Huhtamaki Group
- WestRock Company
- Tray-Pak Corporation
- Uflex Limited.
- Amerplast GmbH
- Berry Global Inc.
- Faerch Plast A/S
The report offers a detailed analysis of these key players in the global cold food packaging market. These players have adopted different strategies such as new product launch, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominant shares in different regions. The report is valuable as it highlights the business development, operating segments, product portfolio, and strategic moves of the market players to present the competitive scenario.
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Recent development:
· In June 2022, the Mondi Group launched a product called “Grow&Go”. This innovative packaging theme was introduced specifically for agricultural products. Directly on the farm, the products can be kept fresh throughout their shelf life. The innovative product is enjoying enormous demand.
· In May 2022, Ampac Holdings, LLC acquired Specialty Packaging, Inc. The acquisition deepened the company’s presence in the Southern United States to meet the demand of the food industry. The packaging giant was expanding. With this acquisition, the company expanded its production capacity.
· In July 2019, Berry Global Group, Inc. announced the acquisition of RPC Group Plc. This strategic move created a leading global protection solutions provider, enabling the company to serve a diverse customer base with high-quality, protective and innovative solutions as well as an extensive manufacturing presence.
Trend reports from the industry:
Frozen Food Packaging Market Opportunity Analysis and Industry Forecast, 2020-2031
Frozen Vegetables Market Size, Share Analysis and Industry Forecast, 2022 – 2032
Frozen Seafood Market Analysis and Industry Forecast, 2023-2032
Flexible Food Packaging Market Size, Share Analysis and Forecast, 2023-2033
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