Global Frozen Food Packaging Market: Introduction
Over the last few years, the demand for frozen food packaging has increased significantly, thanks to the ongoing expansion in the food and beverages industry. the features of frozen food packaging materials, such as lightweightness, durability, less usage of fossil fuel, and recyclability is boosting the global frozen food packaging market. The capability of these packaging products to create an eco-friendly environment is also supporting the growth of this market.
This research report presents an in-depth analysis of the global frozen food packaging market, taking the key trends, market segmentation, and its future prospects in consideration. It also offers a deep insight into the market dynamics, in order to understand the status of the worldwide frozen food packaging market over the period of 2019 – 2027.
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Global Frozen Food Packaging Market: Notable Developments
- Cascades Sonoco, a joint venture of Sonoco Products Co. and Cascades Inc., recently inaugurated a packaging facility in Birmingham, Alabama, for the production of its new product line of innovative, eco-friendly packaging. The venture has invested a sum of US$17 mn to manufacture a water-based functional coating solution, which can create recyclable and compostable containers.
- WestRock Co. has been awarded with the Innovator Award - 2019 for its innovation in recovery. The award recognized the company’s work in enhancing the recyclability of foodservice packaging.
The global frozen food packaging market demonstrates a highly competitive vendor landscape. The rivalry among the leading participants, such as Berry Plastics Group Inc., Sonoco Products Co., ProAmpac LLC, Cascades Inc., and American Packaging Corp. will intensify this competition further. Hitherto, these participants have been relying on innovation and technological advancements for the growth of their businesses. However, their focus will shift towards strategic partnerships with local players, especially in emerging countries, such as India and South Korea, in the near future to enhance their visibility across the world.
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Global Frozen Food Packaging Market: Market Dynamics
The global frozen food packaging market is gaining from a number of factors. The significant ones among those are the changing lifestyle of consumers and their increasing disposable income. The swift urbanization in developing nations, especially in the emerging middle-income population countries, is also supporting the demand for frozen food packaging products considerably. The increasing uptake of freezer bags, especially in the U.S., is likely to boost the global market in the near future.
The demand for plastic bags for the packaging of frozen food is the latest trend in the global frozen food packaging market. The availability of plastic bags in different shapes and sizes and the benefits offered by them, such as the ability to tolerate high temperatures, is fuelling the demand for plastic bags for the packaging of frozen food.
Asia Pacific to Report Most Promising Growth
North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa are the main geographical segments of the global frozen food packaging market. Asia Pacific, among these, has surfaced as the most promising region frozen food packaging market. The presence of a high population base and increasing preference for ready-to-cook meals is likely to keep the growth rate of the Asia Pacific frozen food packaging market significantly high in the years to come. Europe will also demonstrate a decent growth rate in the near future.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.