Global $98.9 Bn Fresh Food Packaging Market to 2023
The global fresh food packaging market is expected to reach USD 98.9 billion in 2023 from USD 80.7 billion in 2017, witnessing a CAGR of 3.4%, during the forecast period 2018 – 2023.
Fresh food packaging is a packaging technique to prevent food from change of state or contamination from physical, chemical, and biological sources. This helps in longer storage of the product. The affordable, convenient, and sustainable packaging material such as PET, paper, aluminum and polyvinyl chloride is increasing the demand from customers, which in turn, is increasing the packaging rate of poultry and meat products, fruits and vegetables and dairy products. New packaging technologies, such as active packaging, intelligent packaging, and engineering science, have evolved over the years, which enable flexible packaging of fresh food products. Companies are adopting eco-friendly packaging by using biodegradable packaging material which can be recycled, renewed, and reused.
The increasing demand for the extended shelf life of food and convenience are driving the growth of the fresh food packaging market, while the stringent government regulations and rising prices of raw materials are restraining the growth of the market.
Increasing Demand for Extended Shelf Life of Products is driving the Fresh Food Packaging Market
After packaging, it takes time for a product to reach consumers in various parts of the world. The packaged food may not be fresh and might lose its aroma and taste before reaching the consumer. The threat of food being spoilt before reaching the consumer is increasing, as it would result in loss of capital invested in the packaging. To overcome this, food processing industries are investing in technologies and various new packaging techniques, such as intelligent packaging and engineering science, which help in increasing the shelf life of the product.