Plastics packaging is predicted to gain from much of the expansion in the worldwide frozen food packaging business, which is expected to grow by 50% in just eight years.
According to a survey by market intelligence firm Reports and Data, shifting consumer preferences toward ready-made meals and convenience food would help the industry reach an estimated $60.58 billion in 2028. The market was worth $39.78bn in 2020.
The survey concluded that an increasing global population, greater disposable income, and higher living conditions of consumers in developing nations are all contributing to rising demand.
As a result, there is a high need for frozen food packaging solutions and materials, according to the report.
According to Reports and Data, manufacturers are progressively investing in the creation of more efficient packaging because it plays such an important role in the frozen foods industry.
Over the projected period, the plastics segment is expected to see “strong revenue growth.” Plastics are being used by frozen food packaging makers because they do not interact with food and are easy to combine with packaging technologies, according to the report.
Such frozen food packaging is moisture-resistant, puncture-resistant, leak-proof, and long-lasting enough to withstand significant drop weight.
Due to its widespread use in the packaging of frozen food products such as fruits and vegetables, as well as meat, poultry, and seafood, the bags category is likely to account for the biggest revenue share in the global frozen food packaging market over the forecast period.
Plastic bags, in particular, are growing in popularity due to the rising need for lightweight packaging with effective safety benefits.
According to Reports and Data, technical improvements are encouraging flexible packaging makers to improve their designs and develop and sell new and more effective film types that aid in the protection, storage, and transportation of a variety of food goods.
Recent examples listed in the research include SABIC’s innovative ultra-thin TF-BOPE film and ProAmpac’s Recyclable R-2000F.
Due to increased demand for higher protein food products, the meat, poultry, and seafood category is predicted to account for a “strong revenue share” in the worldwide frozen food packaging market.
According to the survey, the rising use of online food delivery services, as well as a rapid expansion of retail stores, supermarkets, and proper refrigeration facilities is boosting sales of frozen meat and seafood goods.
According to the regional research conducted by Reports and Data, the European market is predicted to account for the biggest revenue share in the global market over the forecast period.
The survey observed that rising demand for frozen food items in Europe, owing to consumers’ busy lifestyles and high spending power, is projected to enhance the frozen food packaging market in the area.
Over the projected period, revenue from the Asia-Pacific market is expected to develop at a quick annual compound growth rate.
Much of the growth is likely to come from increased consumption of frozen food products in emerging markets in the region, as well as increased use of online meal delivery services and increased demand for frozen meats.
Despite the many variables in its favour, the paper warns that government regulations are likely to stifle the rise of frozen food packaging.
The European Food Safety Authority’s new limits on food contact materials were cited as an example.
Various governments are also focusing on the protection of dangerous foodborne infections by enacting strict rules, according to the representative.