With an impressive valuation of US$ 305 billion expected by the end of 2022, the food re-close packs market is forecasted to demonstrate a strong growth trajectory, projecting a 5.5% CAGR over the 2022-2032 period and reaching an estimated value of US$ 520.97 billion at the close of the forecast.
The issue of global food wastage has garnered increasing attention, with the UN’s Food and Agricultural Organization (FAO) reporting a staggering 1.3 billion tons of food wastage in 2011. A significant portion of this waste occurs within the production and retail sectors. Notably, consumers in developing regions have displayed a greater sense of responsibility in minimizing food wastage, while their counterparts in North America, Europe, and industrialized Asia contribute substantially to global food waste.
Efforts to address this problem have led to initiatives like promoting the food re-close pack market. In North America, the food packaging industry plays a pivotal role, accounting for over one-fifth of global food packaging due to the high demand for packaged foods. The robust competition in this sector reflects the importance of food preservation and sustainability.
In developing Asian countries, the food packaging market is expanding rapidly, driven by growing awareness and the increasing value placed on food preservation. Meanwhile, Latin America’s food packaging industry has demonstrated the second-highest growth rate.
The Middle East region, characterized by a high GDP per capita and a lower incidence of food wastage, offers a promising opportunity for the food re-close pack market. This reflects the region’s growing concern for food preservation and sustainability, making it a potentially lucrative market for such packaging solutions.
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Food Re-close Pack Market Key Players
Some of the key players of food re-close pack market are
- Sonoco Products Co.,
- Amcor Ltd.,
- Macfarlane Labels Ltd,
- Bemis Company Inc.,
- Essentra plc,
- Bostik (Arkema Group),
- Avery Dennison Corp.,
- ANL plastics N.V.
Food Re-close Pack Market Dynamics
- Food Safety and Freshness: Consumers demand food packaging that preserves the freshness and safety of their products. Food re-close packs play a vital role in maintaining product quality and preventing food spoilage, addressing consumer concerns.
- Environmental Sustainability: Sustainability is a significant driver of packaging innovation. Eco-friendly re-close pack solutions are gaining traction as consumers and businesses increasingly seek environmentally responsible options to reduce plastic waste and promote recycling.
- Food Waste Reduction: The global focus on reducing food wastage has led to the adoption of re-close packs, allowing consumers to store and preserve partially used food items more effectively, thus minimizing waste.
- Convenience and User Experience: Consumers appreciate packaging that offers convenience and ease of use. Re-close packs cater to this demand by allowing consumers to open, close, and reseal the packaging as needed.
- Innovations in Materials: Advances in packaging materials, such as easy-to-reclose zippers and sealants, are driving improvements in re-close pack designs, making them more efficient and user-friendly.
- Regulations and Compliance: Adherence to food safety and packaging regulations is crucial. Changes in these regulations can impact the design and manufacturing processes of food re-close packs.
Market Trends
The Food Re-Close Pack Market is witnessing a surge in demand, driven by several key trends.
Sustainability
In an era of environmental consciousness, sustainable packaging solutions are in high demand. Food re-close packs are no exception. Manufacturers are increasingly adopting eco-friendly materials, such as biodegradable plastics and recyclable paper, to reduce their carbon footprint.
Convenience and Portability
The fast-paced lifestyle of modern consumers has led to a growing need for convenient, portable packaging. Food re-close packs are designed to cater to this demand, offering on-the-go options for snacks and meals.
Customization and Branding
Brands are using food re-close packs as a canvas to showcase their identity. Customized packaging with vibrant designs and logos not only attracts consumers but also enhances brand recognition.
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Food Re-close Pack Market Segments
By the type of packaging, food re-close pack market can be segmented as
- Flexible re-close pack
- Rigid re-close pack
By the position of opening, flow wrap food re-close market can be segmented as
- Vertical
- Top-seal
- Regular
By the region, food re-close pack market can be segmented as
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East and Africa
- Asia Pacific excluding Japan
- Japan
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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