Future Market Insights forecasts the global flexible frozen food packaging market to achieve a market valuation of US$ 2.8 billion in 2023, with a subsequent robust expansion, projecting a noteworthy Compound Annual Growth Rate (CAGR) of 12%. The market is expected to reach a substantial US$ 8.7 billion by the year 2033. This outlook signifies the escalating demand for flexible and innovative packaging solutions within the frozen food sector, driven by evolving consumer preferences and the need for convenient and efficient packaging. The projected CAGR highlights the market’s adaptability to cater to the dynamic landscape of the frozen food industry.
Flexible frozen food packaging is expected to grow substantially in the near future. Increasing e-commerce markets and growing frozen food demands are expected to boost the market in the coming years. In recent days, the market has seen a rise in the demand for groceries apps, and demand for ready-to-eat meals and seafood is on the rise. Therefore, the market for flexible frozen food packaging is growing.
Sustainability and environment conservation, in terms of packaging materials, are rising day by day. Consumers, as well as manufacturers, have become more cautious while selecting a packaging material that encloses the product to be manufactured or purchased.
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Market Drivers:
- Convenience and Portability: Flexible packaging offers convenience and portability, making it a preferred choice for frozen food. Consumers appreciate the ease of handling, storage, and disposal compared to traditional rigid packaging.
- Innovation in Materials: Advances in packaging materials, such as high-performance films and laminates, contribute to the growth of the industry. These materials provide enhanced barrier properties, helping to maintain the freshness of frozen foods and extend shelf life.
- Sustainability: Growing awareness and concern for the environment have led to an increased demand for sustainable packaging solutions. Manufacturers are exploring eco-friendly materials and processes, such as recyclable or biodegradable packaging, to meet consumer expectations and regulatory requirements.
- Customization and Branding: Flexible packaging allows for creative and customizable designs, which can contribute to effective branding. Manufacturers can use various printing technologies to enhance the visual appeal of the packaging and communicate product information effectively.
- Cost Efficiency: Flexible packaging is often more cost-effective than rigid alternatives. The lighter weight and reduced material usage can result in lower transportation costs and a smaller environmental footprint.
Market Restraints:
- Limited Barrier Properties: While flexible packaging has improved in terms of barrier properties, it may not provide the same level of protection as rigid packaging. This limitation can be a concern for certain types of frozen foods that require a high level of protection against moisture, oxygen, and other external factors.
- Recycling Challenges: Although there is a growing emphasis on sustainable packaging, the recycling of certain flexible packaging materials can be challenging. The multi-layered structures of some flexible packaging make them difficult to recycle, leading to concerns about environmental impact.
- Regulatory Compliance: Compliance with evolving regulations and standards related to food safety and packaging materials can pose challenges for the industry. Manufacturers must stay informed and adapt their packaging processes to meet changing requirements.
- Consumer Perception: Some consumers may still associate flexible packaging with lower quality or perceive it as less premium compared to rigid alternatives. Educating consumers about the benefits and advancements in flexible packaging is essential to overcome such perceptions.
- Innovation Costs: Investing in new materials and technologies for flexible packaging can be costly for manufacturers. The need for constant innovation to stay competitive in the market may strain the financial resources of some companies.
Competitive Landscape
Key players such as
- Amcor Ltd.
- Ball Corporation
- Crown Holdings, Inc.
- Graphic Packaging International, Inc.
- Pactiv LLC
- Sealed Air Corporation
- Sonoco Products Company
- WestRock Company
- Uniflex Packaging
- ProAmpac
- HANGZHOU MING RI FLEXIBLE PACKAGING CO., LTD.
Recent Developments-
- In February 2021, ProAmpac has launched the ProActive Recyclable R-2000F which has a new technology that will help the brand to achieve sustainable packaging goals. It has excellent heat resistance, robust sealant technology, and excellent dimpling resistance, which makes it an ideal replacement for gusseted frozen food packaging made of non-recyclable PET/PE or OPP/PE laminations.
- In November 2020, Toppan Printing (Toppan), one of the global leaders in packaging, launched a new flexible packaging material with GL BARRIER, a barrier film that is developed by leveraging original vapor-decomposition and coating technologies that reduce oxidation and therefore help in preventing discoloration, changes in food texture, and loss of flavor when compared to the conventional packaging.
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Key Segmentations:
Based on Product Type:
- Pouches
- Bags
- Wraps
- Foils
- Others
Based on Application:
- Ready-to-Eat Meals
- Meat & Poultry
- Sea Food
- Vegetables & Fruits
- Soups
- Others
Based on the Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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