(Entertainment-NewsWire.com, November 08, 2017 ) The Asia Pacific Frozen Food Packaging Market was worth USD 7.44 million in 2016 and estimated to be growing at a CAGR of 5.65% to reach USD 9.79 million by 2021. Increasing urbanization and hurry lifestyle which has less time for cooking home food has shifted the preferences of consumers towards frozen food products which require less time for cooking than the traditional home-cooked meal. In addition, increase in female employment and changes in family dynamics has increased the dependency on frozen food which fuels the growth of frozen food packaging market.
People are preferring the frozen food over fresh food because it can be stored for longer periods and also require less time. The packaging for frozen food also increases the lifetime of the product and maintains the nutrition value for the food items. In the market, different types of packaging are available for various types of frozen food like Plastic, Aluminium, Cardboard, Glass, Wood, Paper and Others.
Increase in the frozen food, growth in purchasing power in emerging economies such as India, and China, rise in demand for packaging for differentiating the product from the rest, the continuous innovation and development in the packaging of food items, increasing consumer demand for high-quality food, rapid urbanization and the increasing corporate sector is driving the Asia Pacific market for frozen food packaging. However, a section of people who believe frozen food is unhealthy and less tasty, lack of awareness, limited number of skilled professionals and high-cost equipment for manufacturing packaging products is restraining the frozen food packaging market.
The Asia Pacific Frozen Food Packaging Market is segmented based on material, food, type of packaging product, and geography. Based on the material, the market is segmented into plastic, aluminium, cardboard, glass, wood and paper. On the basis of food type, the Asia Pacific frozen food packaging market is segmented into Readymade Meals, Meat, Poultry and Sea Food, Fruits and Vegetables, Baked Goods, Potatoes, Soups and Ice cream. On the basis of packaging product type, the market is segmented into bags, boxes, cans, cartons, trays, wraps, tubs and cups and pouches. The Asia Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. Asia Pacific is expected to grow at the fastest rate, largely due to the developing economies like India and China, the rise in more hypermarkets and supermarkets and also the rising urbanization in these regions.
Some of the key players dominating the Frozen food packaging market are Printpack, Inc., Pactiv LLC, Amcor Ltd, Ball Corporation, Crown Holdings, Inc., Sealed Air Corporation, Bemis Company, Inc., Tetra Pak International, WestRock Company, Graphic Packaging International Inc., FLAIR flexible packaging corporation, Graham Packaging and Huhtamaki N.A.
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