Global Frozen Seafood Packaging Market: Overview
The global frozen seafood packaging market is expected to grow exponentially in coming years owing to changing lifestyle of people across the world. As a result of hectic work schedule and more women inclining towards jobs and corporate culture, they prefer ready to eat food due to their convenience and less time consumption in cooking them. All these factors are expected to influence the growth of global frozen seafood packaging market in the forecast period of 2019 to 2027.
Transparency Market Research's report on global frozen seafood packaging market provides all the necessary information to the players such as opportunities, challenges, recent developments, and key trends of global frozen seafood packaging market for the forecast period of 2019 to 2027. The insights from the report help the players to have a better understanding of the market and also help them in better decision making.
Is something restraining your company’s growth in the Frozen Seafood Packaging Market? Ask for the report brochure here
Global Frozen Seafood Packaging Market: Notable Developments
The present scenario of global frozen seafood packaging market is highly competitive. As a result of various lucrative opportunities like growing demand in hotel and catering industry, there are various players that are entering the market. Since the market already has numerous players in it, the influx of new players is expected to make the landscape even more intense.
However, to overcome the challenging scenario, the players are resorting to few strategies that can help them have a sustainable future in the global frozen seafood packaging market. The players are adopting strategic mergers and acquisition as their solution to have successful business in the market. These strategies are allowing the players to gather essential resources that can help them to establish and/or maintain their dominance in the global frozen seafood packaging market.
Some instances of players using some strategies are mentioned below:
- In 2019, a joint venture from Sonoco Products Company and Cascades Inc. inaugurated their new packaging facility in Birmingham, Alabama. The new facility is dedicated to produce eco-friendly packaging where water-based functional coating are used to create recyclable and compostable containers. The Company invested a whopping US$ 17 Mn in the facility for research and development. The opening of the packaging facility allows the company to penetrate the U.S. market of frozen seafood packaging.
- In August 2019, Sonoco announced its complete acquisition of Corenso Holdings America. The acquisition is expected to improve the product portfolio of Sonoco in frozen seafood packaging sector. Moreover, with this acquisition, the company now accounts for a major share in the market. Owing to which, the company is now considered as the leader in the global frozen seafood packaging market.
Stuck in a neck-to-neck competition with other brands? Request a custom report on competition on Frozen Seafood Packaging Market here
Global Frozen Seafood Packaging Market: Key Drivers
Growth in the Demand for Bag packaging to Fuel the Growth of the Market
The growth of global frozen seafood packaging market is majorly attributed to the rising demand of optimal solutions for packaging of frozen seafood. Owing to properties such as better life, cost-effective, and enhanced taste, restaurant businesses are demanding packed frozen seafood. These factors are expected to influence the growth of global frozen seafood market in the forecast period of 2019 to 2027, Moreover, people are demanding bags packaging because they are easy to carry and convenient to pack which is yet another factor that is expected to propel the growth of global frozen seafood packaging market in coming years.
Effective Supply chain Management to Boost the Growth of the Market
As a result of efficient supply chain management by the manufacturers and end use customers, the global frozen seafood packaging market is expected to witness a substantial growth during the projected tenure. Moreover, the rise in the import export industry owing to the growing demand of exotic seafood in various countries is also expected to influence the growth of global frozen seafood packaging market in the forecast period of 2019 to 2027.
Global Frozen Seafood Packaging Market: Regional Analysis
Owing to growing consumption of exotic seafood in various countries, Asia Pacific is expected to exhibit maximum growth in global frozen seafood packaging market. The growth of the region is also expected to be the result of rapid urbanization of various parts of countries like China and India. Out of these countries, China is expected to account for the largest share in the growth of Asia Pacific among all other regions of global frozen seafood packaging market in the forecast of 2019 to 2027.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold 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.