This global market research report includes a detailed segmentation of the fresh food packaging market by material type (flexible plastic, rigid plastic, paper and paperboard, and other materials). It also outlines the market shares for key regions such as APAC, Europe, North America, and ROW. The leading vendors analyzed in this report are Amcor, Bemis, Graphic Packaging, Printpack, and Sealed Air.
Technavio has released updated information on the packaging market, with the publication of its new market research report, global fresh food packaging market. The global fresh food packaging market is expected to grow at a CAGR of 4% between 2016 and 2020. Increasing demand, acceptance, and consumption of ready-to-eat (RTE) food products is one of the major factors for the growth of fresh food packaging market. APAC is the largest market for fresh food packaging, occupying around 35% of the total market share. Factors such as the introduction of active and intelligent packaging solutions by vendors such as Amcor and the growing demand for flexible packaging will boost market growth in this region during the predicted period.
“Augmented consumption of ready-to-eat food products will lead to the demand for packaging solutions that can extend the shelf life of the products enclosed. This has resulted in the advent of packaging technologies like modified atmosphere packaging (MAP). Since this technology helps to maintain an optimum oxygen level, its augmented usage during the estimated period will result in market growth,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research
Technavio’s market research analysts have estimated the flexible plastic packaging segment to account for more than 40% of the total market share by 2020. Since flexible plastic packaging is used to package fresh food items, an increase in the demand for fresh food products will lead to the growth of this market segment during the estimated period.
The key players in the global fresh food packaging market include Amcor, Bemis, Graphic Packaging, Printpack, and Sealed Air. This market is highly competitive as numerous vendors are introducing innovative products to strengthen their market footprint. The vendors in this market compete on the basis of performance, product features, quality, low cost, and distribution to gain maximum market prominence. Companies that have access to extensive financial resources can develop products, which will make the competitors’ products obsolete and non-competitive before they are launched.
A more detailed analysis is available in the Technavio report, Global Fresh Food Packaging Market 2016-2020.
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