Frozen Food Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

 Frozen Food Packaging Market Analysis:

The frozen food packaging market achieved a valuation of USD 41.53 million in the year 2020 and is projected to reach a value of USD 56.2 million by the year 2026, exhibiting a compound annual growth rate (CAGR) of 5.18% during the forecast period from 2021 to 2026. In recent times, frozen food packaging has gained popularity among consumers due to its convenient features such as lightweight, unbreakable, and resealable packaging, as well as its ability to reduce fossil fuel usage and greenhouse gas emissions, thereby promoting an eco-friendly environment.

The majority of consumers of frozen food products prefer to purchase them from large retail stores, supermarkets, and hypermarkets. Organized retail stores, which are an integral part of large retail chains with a significant global presence, are driving the demand for food packaging solutions in the frozen food industry. For example, Walmart is expected to have more than 11,000 stores worldwide, while Amazon is projected to open over 3,000 cashier-less stores by 2021. Consequently, the frozen food packaging market is anticipated to experience substantial growth.

Consumers are also increasingly turning to frozen food as a means to reduce food waste. A study published in the British Food Journal revealed that families were able to reduce their food waste by more than 47% by switching to frozen food.

Packaging for frozen specialties such as meat, poultry, and seafood is witnessing the fastest growth among major frozen food applications. Many large food packaging companies in North America and the Asia-Pacific region are making significant investments in creative and decorative packaging for these products.

However, the regulations imposed by government packaging laws in most developing and developed countries pose a challenging factor for the market.

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