ID: MRFR/PNT/6861-HCR | February 2021 | Region: Global | 107 pages
Produce packaging market is expected to reach USD 39.45 billion by 2027, at a CAGR of around 5.1% during the forecast period.
In the last few years, the global produce packaging Market has seen a moderate growth and expansion. Various factors would affect the development of the market, including an increase in the production of fresh products and increasing awareness among the population of all the countries across the globe towards healthy lifestyles. People have started becoming aware of the benefits of consuming fruits and fresh vegetables, which is another factor that drives the growth of the produce packaging Industry.
Additionally, the reason that has been encouraging people to opt for such a lifestyle is the busy and stressful life. With less time to have meals, people have been getting inclined to consume semi-prepared and fruits and salads that are cute. The produce packaging makes sure that these stay fresh for a longer duration. But looking at the other side of the coin suggests that strict laws from the regulatory bodies on waste and recycling are the factors that have been acting as the restraints in the produce packaging Market Growth.
The major players in the produce packaging Market are: Smurfit Kappa (Ireland), Sonoco Products Company (US), Amcor plc (Australia), International Paper (US), COVERS (US), Sealed Air (US), DS Smith (UK), WestRock Company (US), Mondi (Austria), Berry Pack, Inc. (the US), Packaging Corporation of America (US), Pactiv LLC (US), Ultimate Group (UK), Stora Enso (Finland) and INFIA Srl (Italy), among others.
COVID-19 Impact Analysis
In the Corona pandemic's unprecedented times, most of us had to suffer either physically or financially, or for some, it was both. Something similar has been sustained by business all over the world. When life seemed to be stuck, there was nothing we could even do. Those lockdowns and the pandemic's fear, Business suffered severe setbacks in terms of workforce and finances. But there needs to be a way out. Every problem comes with a solution.
The reports provided to the business are the solution to these. These are high-end, extensively researched reports that tenable stage business owners and the staff take one step towards resetting what they have lost and started building things afresh. Experts in the industry have designed the pieces with an in-depth produce packaging Market Analysis of the produce packaging Market Share. These even have insights of the key players of the needs, their plans, and the strategies that enable the business self to analyse those plans that have them reach the place they are and work accordingly.
The market dynamics for the global produce packaging Market Outlook is going strong due to factors like an increase in the demand for fresh produce. Ready to eat and dry cut food items provide an extra step towards produce packaging industry Growth. People have started to understand what is best for their health and what packaging would ensure that the food items' nutrients stay intact. This has caused even more growth in the produce packaging Market Value.
The factors that have anticipated the assistance of the produce packaging Market Trends advancements include the factors like the introduction of new products in the market regularly. The demand for overwrap trays has grown many folds and is expected to expand even more in the forecast period. Even after strict regulations, plastic bags are still used in huge quantities, leaving an effect on the produce packaging Market Revenue to a great extent.
The laws that are being implemented on the produce packaging industry tend to play a significant role in the produce packaging Market Size. The regulations are not just about the containment of the food articles they carry. There is much more to it. The laws by various administrative bodies have forwarded such regulations that range from giving physical protection to the slow deterioration of the food article. They are also checked for any chemical reactions with the good or the procedures to extend the shelf life. The produce packaging industry Value has evolved towards the regulations governed by the administrative bodies and have included many Chang's from time to time.
The produce packaging can be classified into three subcategories:
Based on type: This can further be categorized into the following:
The segment that holds the highest share and dominates the market is the corrugated box segment. And the segment is also expected to expand at the highest CAGR.
Based on application: The produce packaging Market Outlook can be classified into the following subcategories:
The segment that dominates the produce packaging Industry is the vegetable segment and would probably have the highest CAGR in the forecast period.
Based on end-user: Based on the end-user, the market has the following subtypes:
The growers/shippers’ market is the one that dominates the market in this segment. Also, this segment is expected to have the highest CAGR in the years to come.
Based on region, the market has the following subdivisions
The Asia Pacific dominates the produce packaging industry Size with the largest share. It is then followed by North America and then Europe bags third place. The Asia Pacific is expected to keep its first rank till the year 2025. The significant reasons for the region's dominance are the high rate of production of fresh fruits and vegetables in the area. Countries like India and China are the ones that contribute the most towards fresh produce. It is also expected that the demand would further increase in the forecast period.
North America has experienced high rates due to the increased investments in the research and development areas for innovation of new products in the product package market. On the other side, few factors that have been restraining the growth of the produce packaging Market Share in the developed countries like the US and Canada are the strict laws laid down by the regulatory bodies for the safety of the food items.
All these have been able to name themselves in the market with the kind of quality and commitment they have shown towards the products. The produce packaging industry Trends are relatively competitive, with numerous players across the globe. The expectations that all these are supposed to fulfil are to strategize and implement such plans that help them raise the ladder of success and ensure that the market rises and shines. The main strategies that they have been implementing include focusing on the quality, expanding the mutually beneficial partnerships, and the cost-effectiveness of the products.
Recent developments in the field of produce packaging markets are:
With a rough estimate of a CAGR of 5.1% in the forecast period, the global produce packaging market is one such market that is on the rise because of the type of lifestyles the majority of the population has. With no time to even eat, they prefer the semi cooled and freshly packed food, which is the major force in producing packaging Market Revenue generation. The reports that are provided to the business owners include all the small and big details that they would need regarding the market. The current situation of the market, the historical background, and the qualitative and quantitative value are discussed in the report. Moreover, the strategies that are being followed by the top players of the market that have helped them reach the level they are have also been discussed to make the business analyse themselves and work accordingly. The other things used in the report are the segmentation of the market-based in various subtypes, which included the produce packaging Market Analysis according to different regions across the globe.
|Market Size||2027: USD 39.45 billion|
|CAGR||5.1% CAGR (2020-2027)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Packaging Type, Application, End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Smurfit Kappa (Ireland), Sonoco Products Company (US), Amcor plc (Australia), International Paper (US), COVERS (US), Sealed Air (US), DS Smith (UK), WestRock Company (US), Mondi (Austria), Berry Pack, Inc. (the US), Packaging Corporation of America (US), Pactiv LLC (US), Ultimate Group (UK), Stora Enso (Finland) and INFIA Srl (Italy)|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The market expansion is expected to occur at a rate of 5.1% in the years ahead.
The market value is expected to reach USD 39.45 billion by 2027
The top companies listed in the report are COVERIS (US), Stora Enso (Finland), Smurfit Kappa (Ireland), Packaging Corporation of America (US), Mondi (Austria), Sealed Air (US), Pactiv LLC (US), Berry Pack, Inc. (US), DS Smith (UK), INFIA srl (Italy), Ultimate Group (UK), WestRock Company (US), Sonoco Products Company (US), International Paper (US), Amcor plc (Australia), and others.
Based on end-user, the primary segments listed in the report are re-packers, retail stores and growers/shippers.
The top growth-boosting factors in the North American market are increased research and development (R&D) investment along with product innovation among others.