Fresh Food Packaging Market is in Trends by Emerging Sustainable Material Innovations
The fresh food packaging market has expanded rapidly owing to the increasing demand for convenient packaging formats and longer shelf-life for perishable food items like fruits, vegetables, meat and seafood. Fresh food packaging aids in maintaining freshness, reduces spoilage and wastage. Plastic packaging materials dominate the market due to their low weight, moisture barrier properties and cost effectiveness. However, there is a rising focus on developing sustainable packaging materials to address environmental concerns.
The Global Fresh Food Packaging Market is estimated to be valued at USD 93.71 Bn in 2024 and is expected to reach USD 124.15 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.1% from 2024 to 2031.
Key Takeaways
Key players operating in the Fresh Food Packaging are Crown Holdings Inc., Sealed Air Corporation, Tetra Pak International, Amcor Ltd., Rexam PLC, Sonoco Products Company, Graphic Packaging International LLC, International Paper Company, Ball Corporation, Reynolds Group Holdings Ltd., WestRock Company, Smurfit Kappa, Coveris, DuPont, DS Smith PLC, Mondi PLC, Silgan Holdings Inc., Schur Flexibles, Anchor Packaging Inc., and Printpack Inc. Fresh food packaging manufacturers are focusing on developing modified atmosphere packaging and active packaging formats to enhance shelf-life and meet rising consumer demand for fresh and convenient food options.
The Fresh Food Packaging Market Demand is growing at a rapid pace owing to rising population, urbanization, and increasing purchasing power in developing economies. This expansion has fueled the demand for innovative and sustainable fresh food packaging solutions. Fresh food packaging companies are investing in R&D to launch packaging materials made from recycled and biodegradable materials such as paper, bioplastics and aluminium foils to address sustainability issues.
North America dominated the fresh food packaging market followed by Europe in 2024. However, Asia Pacific is expected to witness the fastest growth during the forecast period owing to increasing demand from developing countries such as China and India. Food packaging companies are expanding their manufacturing capacities and distribution networks across Asia Pacific and Latin America to leverage market opportunities in emerging markets.
Market key trends
Biodegradable and compostable packaging materials are gaining traction in the fresh food packaging industry due to tightening regulatory norms governing single-use plastics. Materials such as bio-PET, PLA, PBS and bio-PE offer compostable and renewable alternatives to conventional plastics. Their ability to breakdown in municipal and industrial composting facilities without leaving behind toxic residues is driving their popularity among consumers and brand owners. Innovations in active and intelligent packaging formats that help extend shelf-life through technologies such as antimicrobial films, controlled atmosphere packs and freshness indicators are also shaping consumption trends in the market.
Porter’s Analysis
Threat of new entrants: New entrants face high capital requirements to enter the fresh food packaging market as setting up manufacturing plants require large investments. Moreover, established players have achieved economies of scale and brand recognition which discourages new players.
Bargaining power of buyers: Buyers have moderate bargaining power as there are numerous players providing fresh food packaging solutions. However, switching costs are low.
Bargaining power of suppliers: A few major players supply raw materials like plastics, metals, paper required for fresh food packaging. This gives them some bargaining power over packaging manufacturers.
Threat of new substitutes: There exists potential threat from alternate packaging materials like bioplastics and active and intelligent packaging gaining traction.
Competitive rivalry: The fresh food packaging market sees intense competition with players differentiating based on qualities, design, and environment friendliness.
Geographical concentration of market value: North America accounts for the largest share currently due to strong Fresh Food Packaging Market Regional Analysis from US food manufacturers and retailers. Growth of organized retail and on-the-go eating trends support fresh food packaging sales.
Fastest growing region: Asia Pacific region is expected to grow at the fastest pace during the forecast period supported by growing consumption of packaged fresh foods, improving cold chain infrastructure and rising disposable incomes in developing Asian countries. Population expansion in China and India and urbanization will drive increased packaged fresh food consumption in Asia.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
