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The global frozen food packaging market size was estimated to be USD 37.6 billion in 2021 and reach USD 69.24 billion in 2027, registering a CAGR of 7.30% over the forecast period (2021-2027). Frozen food packaging preserves vitamins and minerals contained in the food without any use of preservatives. The demand for frozen food packaging has increased significantly due to the expansion in the food & beverages industry across the globe coupled with the fast-moving lifestyle. The demand for fresh and healthy food and ingredients is increasing substantially across the globe.
Factors Affecting the Frozen Food Packaging Market over the Forecast Period
The primary factors driving the global frozen food packaging market are the ease of consumption, less time for cooking, preservation of food’s nutritional values, and availability of varieties and product appeal.
The rise in the on-the-go consumer base coupled with increasing disposable income in emerging economies is another factor supporting the growth of the frozen food packaging market. Technological advancement in the packaging material, which includes introducing sustainable packaging, will further drive the market growth over the forecast period.
One major challenge for the frozen food packaging market is the high price for packaging raw materials. Common raw materials for food packaging are plastic bags, aluminum, steel, and copper. High prices affect both manufacturers and consumers, leading to a gap in demand and supply with continuous increases in price in raw materials.
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Impact of COVID-19 on Frozen Food Packaging Market
Due to the COVID-19 pandemic, the demand for frozen food packaging has increased significantly. The market for frozen food has increased significantly, as the products that can be stored for a longer period have gained considerable traction amidst the pandemic. Moreover, during the initial period of the COVID-19 outbreak, various countries had implemented lockdown for at least a month, owing to which the online delivery of groceries and other food items have increased significantly. This includes the online delivery of frozen food, which has substantially increased the growth of the frozen food packaging market. Therefore, an overall modest growth can be expected in the frozen food packaging market value in 2020.
Scope of the Report
The report outlines the global frozen food packaging market study based on material, packaging type, and application.
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Frozen Food Packaging Market: Regional Outlook
The frozen food packaging market has been segmented into five geographical regions, namely, North America, Asia Pacific, South America, Europe, and the Middle East, and Africa. In 2020, North America held the largest share in the global frozen food packaging market, followed by Europe and the Asia Pacific. North America is further estimated to dominate the frozen food packaging market during the forecast period. Moreover, Asia Pacific is expected to project the highest CAGR in the global market over the forecast period.
Key Global Frozen Food Packaging Market Competitors Includes
The frozen food packaging market is highly fragmented, with the presence of a large number of small players across the globe. The key frozen food packaging players operating in the global market include–
The frozen food packaging market report thoroughly analyzes macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players’ presence in the respective segment and region/country. The information concluded in the report includes the inputs.
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Frozen Food Packaging Market Regional Analysis Includes
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Frozen Food Packaging Market Target Audience
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