Future Market Insights predicts that the food re-close packs market will reach a valuation of US$ 305 billion by the end of 2022. Over the forecast period from 2022 to 2032, a Compound Annual Growth Rate (CAGR) of 5.5% is anticipated, with the market expected to reach a closing value of US$ 520.97 billion. This projection underscores the growing demand for re-closeable packaging solutions in the food industry, driven by consumer convenience, food preservation, and sustainability concerns. As the market continues to evolve, re-close packs emerge as a crucial component in meeting the changing needs of both consumers and manufacturers.
Streamlining the process of accessing and storing portions of food for later use, food re-close packs offer convenience, particularly for larger or party-sized food packs where the need for resealing is more prominent. The production volume in the food sector is intricately linked to anticipated demand, with the demand-driven nature of the industry emphasizing the critical role of effective and user-friendly packaging solutions like re-close packs in meeting consumer expectations and optimizing overall operational efficiency.
As per the Food and Agricultural Organization (FAO) of the United Nations, global food wastage reached a staggering 1.3 billion tons in 2011, with a significant proportion occurring at the manufacturing and retail levels. Notably, consumers in developing regions demonstrated more responsible consumption habits, while those in developed areas such as North America, Europe, and industrialized Asia were found to contribute significantly to the substantial portion of food wastage on a global scale. This underscores the need for targeted strategies to address food waste at various stages of the supply chain and promote sustainable consumption practices worldwide.
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Business Growth Drivers:
- Consumer Convenience: Consumers increasingly prioritize convenience in food packaging. Re-close packs offer easy opening and sealing mechanisms, allowing for multiple uses without compromising food freshness. This convenience factor drives demand, especially among busy households and on-the-go consumers.
- Food Preservation: Re-close packs help extend the shelf life of perishable items by maintaining freshness and preventing exposure to air and moisture. This preservation aspect appeals to both consumers and food manufacturers seeking to minimize food waste and ensure product quality.
- Sustainability: As environmental concerns rise, there’s a growing demand for eco-friendly packaging solutions. Re-close packs, which often utilize recyclable materials and reduce the need for single-use plastics, align with this sustainability trend. Brands that emphasize environmentally friendly packaging can attract eco-conscious consumers.
- Innovation in Packaging Technology: Advancements in packaging technology have led to the development of more sophisticated re-close pack designs. Features such as zip locks, resealable films, and snap lids enhance convenience and functionality, driving consumer adoption.
- Market Expansion: The Food Re-Close Packs market is expanding beyond traditional segments like snacks and confectionery into new categories such as pet food, fresh produce, and dairy products. This diversification broadens the market potential and creates opportunities for manufacturers to introduce innovative packaging solutions tailored to specific product requirements.
- Regulatory Compliance: Stringent regulations regarding food safety and packaging standards incentivize the adoption of re-close packs, which offer enhanced protection against contamination and tampering. Compliance with regulatory requirements is a significant driver for food manufacturers looking to maintain consumer trust and meet industry standards.
Industry Restraints:
- Cost Considerations: Implementing re-close packaging solutions often entails higher production costs compared to traditional packaging formats. Manufacturers must balance the added expense of re-close features with consumer willingness to pay, especially in price-sensitive markets where cost competitiveness is crucial.
- Complexity in Manufacturing: Re-close packs require specialized equipment and processes for manufacturing, which can be complex and costly to set up. This barrier to entry may deter smaller players from entering the market or limit the scalability of production for existing manufacturers.
- Consumer Education: Despite the benefits of re-close packs, some consumers may be unfamiliar with how to properly use or recycle them. Effective consumer education campaigns are necessary to raise awareness about the advantages of re-close packaging and ensure proper disposal practices to maximize sustainability benefits.
- Compatibility with Existing Supply Chains: Introducing re-close packs may necessitate adjustments to existing supply chain logistics, including storage, transportation, and inventory management. Ensuring compatibility with established systems and processes without disrupting operations can pose challenges for manufacturers and distributors.
- Perception of Effectiveness: In some cases, consumers may perceive re-close packs as less effective at preserving freshness compared to alternative packaging formats such as vacuum sealing or rigid containers. Overcoming skepticism and building trust in the performance of re-close packs requires transparent communication and product testing to demonstrate efficacy.
- Regulatory Compliance Challenges: Keeping up with evolving regulatory requirements and standards for food packaging materials and labeling can be challenging for manufacturers, especially in a global marketplace with varying regulations across regions. Adhering to compliance obligations adds complexity and administrative burden to product development and marketing efforts.
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.
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Key Segments
By the type of packaging
- Flexible re-close pack
- Rigid re-close pack
By the position of opening
- Vertical
- Top-seal
- Regular
By the region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East and Africa
- Asia Pacific excluding Japan
- Japan
About Future Market Insights (FMI)
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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