Frozen Food Packaging Market to Become Top Investment Pocket for Investors till 2023

Global frozen food packaging market is expected to garner $47,376 million by 2023, from $33,231 million in 2016, registering a CAGR of 5.3% from 2017 to 2023. Food products are highly perishable; thus, to avoid food wastage, to meet the needs of the rising population and to keep food businesses competitive and profitable, preservation of food (by freezing) is adopted by various food manufacturers.

The deep-frozen food products can be stored and used over a long period of time. Frozen foods are preferred over fresh foods, as it can be stored for longer periods and can be prepared in less time. The packaging of frozen food maintains the nutrition value of the food items and also increases its shelf life. Greater variation of packaging such as boxes, bags, cups & tubs, trays, wraps, pouches, and others are adopted for various types of frozen food products to keep food fresh and convenient for use.

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There is a growth in demand for frozen food in the emerging economies such as India and China. Increased disposable income and rise of lifestyle has led to the changes in the dietary preferences of the consumers. This in turn is expected to boost the frozen food packaging market. The growth in participation of females in labor force has increased the dependency on readymade and convenience food. This has led to the rise in demand of frozen food, which further accelerates the growth of the frozen food packaging market.

Packaging not only extends the shelf life of food products but is also used for decoration purposes. Continuous innovation and development in the packaging of food items attracts the customer and hence drives the overall growth of the market. Europe is the largest market for frozen food packaging which accounted for approximately two-fifths of share in 2016, followed by North America. Whereas, Asia-Pacific is expected to grow at the highest CAGR of 7.8% during the forecast period.

The global frozen food packaging market is segmented based on type, product, material, and geography. Based on type, market is divided into boxes, bags, cups & tubs, trays, wraps, pouches, and others. On the basis of product, the market is classified into ready meals, meat & poultry, sea food, potatoes, vegetables & fruits, and soups. Based on material the market is segmented into plastics, paper & paperboards, metals, and others which includes glass and wood. Based on geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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KEY MARKET BENEFITS:
• The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global frozen food packaging market to elucidate the prevailing opportunities and potential investment pockets.
• It offers qualitative trends as well as quantitative analysis for the period of 2016‐2023 to assist stakeholders to understand the market scenario.
• In-depth analysis of the key segments demonstrates the type of packaging used for various frozen food products.
• Competitive intelligence of the industry highlights the business practices followed by key players across geographies as well as the prevailing market opportunities.
• The key players in the market are profiled along with their strategies and developments to understand the competitive outlook of the industry.

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