The frozen food packaging market is projected to be valued at US$ 900 million in 2023 and grow to US$ 2.0 billion by 2033. The market is estimated to capture a CAGR of 8.3% during the forecast period.
This growth is driven by the increasing demand for efficient and sustainable packaging solutions across various industries such as chemicals, food and beverages, pharmaceuticals, and agriculture. The robust features of plastic rigid IBCs, including their durability, reusability, and resistance to harsh environmental conditions, make them a preferred choice for transporting and storing bulk liquids and semi-solids.
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Advancements in material technology and the rising focus on reducing packaging waste are further propelling market expansion. The trend towards adopting eco-friendly packaging solutions is also contributing to the increased utilization of plastic rigid IBCs. Additionally, the growing international trade and the need for efficient supply chain logistics are fostering the demand for these containers.
The market is also benefiting from innovations in IBC designs, which enhance product safety and handling efficiency. The increasing investments in research and development to produce lighter, more durable, and cost-effective IBCs are expected to create new growth opportunities in the market. Overall, the plastic rigid IBC market is set to witness substantial growth, driven by a combination of industrial demand, environmental considerations, and technological advancements.
Printing and Customization Trends Fueling Frozen Food Packaging Market
Frozen food packaging stores the food items fresh for a longer time. Moreover, manufacturers are developing printed and customized packed food items to attract consumers’ attention. Marketers are innovating new tactics to highlight their brand values and are rapidly booming the market expansion.
The product information printed on packaging boxes or pouches provides information on manufactured data and other details related to the food items. This information connects the consumers and builds trust to buy the products with excellent standards. The types of shapes, colors, designs and unique style decorations enhance the packaging to stuck customers’ eyes on the item.
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Key Takeaways:
- The frozen food packaging market is expected to have a valuation of US$ 2.0 billion by 2033.
- With a CAGR of 8.3%, the global market is increasing during the forecast period.
- The United States frozen food packaging market is anticipated to register a CAGR of 8.1% through 2033.
- With a CAGR of 7.4%, the United Kingdom market significantly uplifts during the forecast period.
- The China market is expected to record a CAGR of 7.7% over the forecast period.
Who is Winning?
The market is fragmented by the presence of players all around the globe, operating at different levels. The manufacturing companies are focusing on research and development activities to innovate better product services as per consumers’ requirements. These players make several marketing tactics, such as mergers, collaborations, partnerships, agreements, and acquisitions.
Prominent Players in the Market are:
- Mondi Group
- Ampac Holdings, LLC
- Amcor Plc
- International Paper Company
- KOROZO Ambalaj San.ve Tic A.S.
- Sealstrip Corporation
- Sonoco Products Company
- Alto Packaging
- Sealed Air Corporation
- Huhtamaki Group
- MOD-PAC Corp
- WestRock Company
- Tray-Pak Corporation
- Uflex Limited.
- Amerplast Ltd.
Recent Developments in the Frozen Food Packaging Market:
In 2021, Amut Ecotech in partnership with Erema, an Australia-based firm, installed the new food-grade PET sheet in New Zealand, which is produced by Alto Packaging.
Frozen Food Packaging Market by Category
By Material Type:
- Plastic
- Polyethylene
- Polypropylene
- Ethyl Vinyl Acetate
- Polyvinyl Chloride
- Polyvinylidene Chloride
- Polystyrene
- Polyethylene Terephthalate
- Aluminium
- Paper & Paperboard
- Tempered Glass
By Packaging Type:
- Rigid
- Boxes
- Tubs & Cups
- Cans
- Trays
- Flexible
- Pouches
- Bags
- Films
- Others
By Food Type:
- Ready-to-eat Products
- Fruits & Vegetables
- Meat, Poultry, & Seafood
- Dairy Products
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa (MEA)
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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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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