Expected to reach a market value of US$ 16.67 billion in 2023 and poised to achieve a valuation of US$ 27.9 billion by manifesting a Compound Annual Growth Rate (CAGR) of 5.29% during the forecast period from 2023 to 2033, the global food punnets market demonstrated notable growth with a 4.1% CAGR in the historical period spanning from 2018 to 2022.
The convenience and ease of use offered by punnet trays make them an ideal solution for transporting fruits and vegetables over extended distances, a key factor fueling market growth. Additionally, the escalating demand for environmentally friendly and sustainable packaging solutions further propels the adoption of punnet trays in the packaging industry.
Concurrently, the small rigid punnets market is being shaped by the convenience packaging sector as modern, fast-paced lifestyles drive the need for on-the-go consumption and time-saving options in food preparation.
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The paper-based food punnets market is estimated to have increased demand in the Europe region due to the government strict regulations and impositions over the use of plastic materials. Also, the North America region is expected to have a moderate growth due to high consumption of fruits, vegetables and seafood. On the other hand, Asia Pacific region may witness a significant growth due to developing economies such as India and China which have an exceptional growth of fresh food packaging industry.
Food Punnets Market: Key Players
The food punnets market is highly competitive in nature, holding to the existence of leading players. The contenders who are steering in the food punnets market are as follows –
- LC Packaging International B.V.
- AVI Global Plast Pvt Ltd
- Carters Packaging Limited
- Marinucci Australia Pty Ltd.
- T&B Containers Limited
- Nicholas Packaging
- YV Packaging
- Tacca Industries
- Sullivan Packaging
- Velkan Engineering Pvt. Ltd.
- INFIA Srl
- Raptis Pax Pty Ltd.
Recent Developments-
- In September 2022: Amcor Rigid Packaging (ARP) created ‘ClearCor’ to produce ‘DairySeal’, a new PET barrier technology for containers of ready-to-drink dairy beverages. The containers are recyclable and can contain up to 80% recyclable elements in their construction. The company has created a barrier out of PET film to keep dairy beverages fresh. A “concentrated capsulation” developed by new technology designed by ClearCor in the preform’s core gives the containers extra flexibility and resin possibilities.
- In April 2019 – Amcor announced the launch of ‘Amite Ultra Recyclable’, its first packaging product made up of the company’s revolutionary, more sustainable high-barrier polyolefin film. It can cut a pack’s carbon footprint by up to 64%.
Food Punnets Market – Market Restraints
1. Limited Compatibility with Certain Foods
One of the primary restraints of the Food Punnets Market is its limited compatibility with certain types of produce. While these punnets work exceptionally well for fruits and vegetables, they may not be suitable for items with specific storage requirements. For example, delicate herbs or mushrooms might require different packaging solutions to maintain their freshness, as Food Punnets may not provide the ideal environment for them.
2. Environmental Concerns
Despite their sustainability efforts, some Food Punnets are still criticized for their environmental impact. While many are made from recycled or biodegradable materials, the production and disposal of these punnets can still contribute to pollution and waste. Manufacturers are continually working to improve the eco-friendliness of their products, but this remains a concern for some consumers.
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Key Segmentations
The segmentation of food punnets market is done based on the following segments
Material Type:
- Paper
- Plastic
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene terephthalate (PET)
- Polystyrene (PS)
- Polylactic Acid (PLA)
- Polyvinyl Chloride (PVC)
- Other Plastic
Capacity:
- 50 gm – 100 gm
- 101 gm – 200 gm
- 201 gm – 500 gm
- Above 500 gm
End Use:
- Packaged Food
- Vegetables
- Seafood
- Fruits
- Others
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