The market for food punnets is projected to reach a market value of US$ 16.67 billion in 2023 and US$ 27.9 billion in 2033, growing at a CAGR of 5.29% during the forecast period. Food punnet market growth was evident from 2018 to 2022 when it saw a 4.1% CAGR.
Market expansion is anticipated to be fueled by the introduction of innovative, cutting-edge R-PET or recycled polyethylene terephthalate goods. For instance, in December 2019, AVI, one of the world’s leading manufacturers of punnet packaging, unveiled the AT114, a multipurpose punnet container. This item is especially made for the packaging of chopped fruits and vegetables in airtight containers.
To maintain freshness of the food items and tamper evident packaging, food punnets are widely used to package food items such as fruits, vegetables, sea fruits, fresh produce, etc.
Features such as stacking to maximize the storage space, less transportation cost and maintain low oxygen levels to delay oxidation process are driving the food punnets market.
The rapidly increasing food and beverages industry is also adding to the growth of food punnets in the market. Presently, there are several players which are operating in the food punnets market, producing customized food punnets to cater to the increasing demand from different end-use industries, giving manufacturers a good opportunity to enter the market.
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Food Punnets Market: Dynamics
Food items which are susceptible to squashing, bruising, and spoiling are best kept in small rigid containers which are commonly known as food punnets.
A replacement to polystyrene or plastic trays can be achieved by the paper-based food punnets. Due to the increasing government regulation over the use of single-use plastic material, the paper-based food punnets are gaining traction.
Though the paper material fulfils the sustainability concern but the plastic food punnets are more cost efficient and durable. Also, bio-degradable plastics such as PLA are getting more prominence over hazardous plastics such as Polystyrene, PVC, etc.
Also, a high quality of customized printing and graphics can be done over the external surface of the food punnets to grab consumer attention in the retail environment leading to an increase in sales.
Food punnets are also designed to meet the physical requirements of the supply chain to ensure that the food item arrives in optimal condition. Food punnets can be stacked flat to maximize the storage space and to minimize the transportation costs. Many latest innovations and technological advancements are being carried out in the food punnets market to offer optimum packaging of food items.
Such as the manufacturers are focusing on using water resistant boards and other barrier coatings, both at the innermost and the outermost surface of the food punnets. With proper packaging of food items such as fruits, vegetables, seafood, fresh produce, etc, unique air-ventilation feature is also very important to keep them fresh. Food punnets are available in various sizes and capacities as per their usage.
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Food Punnets Market: Regional Outlook
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. The countries of these regions are expected to witness an upright market growth due to the import of exotic food items especially fruits and vegetables from other regions.
The food punnets market growth is impacted in the regions such as Latin America and Middle East and Africa, as the people of these regions are proactively inclining towards healthy eating habits.
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.
The food punnets market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participant across the value chain. The report on food punnets market provide in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies of the food punnets market.
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Food Punnets Market: Segmentation The segmentation of the 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
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