DEMAND FOR FROZEN FOOD PACKAGING TO GROW BY 50% THANKS TO EMERGING MARKETS
Increased demand from emerging markets and growing online sales are set to strengthen demand for frozen food packaging, according to a new report.
The study from Reports and Data, a market research company based in the United States and India, suggests frozen food packaging sales will increase 5.5% annually until 2028.
The market is expected to be worth $60.58 billion (€51.28bn) by then – more than 50% higher than it was in 2020, when it was valued at $39.78 billion.
In a press release, Reports and Data highlighted several factors that were contributing to the growth in sales of frozen food packaging.
Among them are increasing international trade in frozen food products, better transportation facilities, and growing consumption in South America and the Asia Pacific region, where growing online sales will be a key factor.
“The emergence of innovative refrigerator displays in supermarkets, advances in freezing technologies, and the presence of a better and faster supply chain is contributing to increasing sales of frozen food and packaging solutions, which are required to prevent food spoilage,” the company added.
Technological advancements in cold chain are also leading to greater demand for packaging, while the technology of packaging itself is improving through, for example, the development of new types of film.
“A shift in preference towards sustainable packaging is boosting demand for more eco-friendly alternatives in packaging materials for frozen food, which include moulded pulp, paper, and bioplastics,” the company added.
Tying in with this last trend, Sial Paris Newsroom recently reported that India’s Hi-Tech Group is targeting the frozen food sector with its Dr Bio polymer, which the company says can completely degrade within months.