$4550
[Research Report] The chilled food packaging market size is expected to grow from US$ 12,948.11 million in 2022 to US$ 18,902.73 million by 2030; it is estimated to register a CAGR of 5.0% from 2023 to 2030.
MARKET ANALYSIS
The global chilled food packaging market refers to the packaging of perishable food items that require refrigeration to maintain their quality and freshness. The market includes a range of packaging materials, such as plastic, paper and paperboard, aluminum, and wood, designed to keep the food products at a low temperature during transportation and storage. The market is driven by the growing demand for convenience foods, increasing urbanization, and changing lifestyles. The rising awareness of food safety and hygiene is also driving the demand for chilled food packaging. Additionally, the growth of e-commerce and online grocery shopping is expected to fuel the demand for chilled food packaging during the forecast period.
GROWTH DRIVERS AND CHALLENGES
Expansion of organized retail and e-commerce is boosting the global chilled food packaging market growth significantly. Organized retail and e-commerce platforms provide a broader reach and greater visibility for chilled food products. Consumers increasingly prefer organized retail formats due to the convenience and wide range of products they offer. Organized retail, such as supermarkets, hypermarkets, and specialty stores, offers a wide range of produce, dairy products, meat, seafood, ready-to-eat (RTE) meals, and more. The convenience of having multiple products under one roof attracts consumers and encourages them to choose organized retail over traditional retail formats. The diverse product assortment requires appropriate packaging to ensure product integrity, hygiene, and presentation on store shelves. Moreover, increase in demand for convenience or ready-to-eat food is further boosting the global chilled food packaging market growth. The consumption of high-quality convenience food is increasing, which is currently one of the biggest trends in the food industry. Convenience foods, such as RTE products, allow consumers to save time and effort associated with shopping for ingredients, meal preparation and cooking, consumption, and post-meal activities. The development of this food segment is ascribed to many social changes; the most notable of these include the growing number of smaller households and the rising millennial population worldwide. However, the stringent government regulations associated with chilled food packaging, might limit chilled food packaging market growth. Stringent government regulations can impose certain restrictions on chilled food packaging. While these regulations are implemented to ensure consumer safety and environmental sustainability, they can present challenges and limitations for packaging manufacturers and suppliers. Complying with stringent norms often requires significant investments in research, testing, certification, and ongoing compliance monitoring.
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Chilled Food Packaging Market: Strategic Insights
Market Size Value in US$ 12,948.11 million in 2022 Market Size Value by US$ 18,902.73 million by 2030 Growth rate CAGR of 5.0% from 2023 to 2030 Forecast Period 2023-2030 Base Year 2022
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Chilled Food Packaging Market: Strategic Insights
| Market Size Value in | US$ 12,948.11 million in 2022 |
| Market Size Value by | US$ 18,902.73 million by 2030 |
| Growth rate | CAGR of 5.0% from 2023 to 2030 |
| Forecast Period | 2023-2030 |
| Base Year | 2022 |
Shejal
Have a question?
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
REPORT SEGMENTATION AND SCOPE
The "Global Chilled Food Packaging Market Analysis to 2030" is a specialized and in-depth study with a major focus on the global chilled food packaging market trends and growth opportunities. The report aims to provide an overview of the global chilled food packaging market with detailed market segmentation by material, type, application, and geography. The global chilled food packaging market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of chilled food packaging worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the chilled food packaging market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the chilled food packaging market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative chilled food packaging market opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global chilled food packaging market, which helps understand the entire supply chain and various factors affecting the market growth.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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SEGMENTAL ANALYSIS
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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The global chilled food packaging market is segmented on the basis of material, type, and application. Based on material, the chilled food packaging market is segmented into plastic, aluminum, paper and paperboard, and others. Based on type, the chilled food packaging market is segmented into boxes, tubs and cups, cans, pouches and bags, and others. Based on application, the chilled food packaging market is segmented into dairy products, meat and poultry, seafood, fruits and vegetables, and others. Based on material, plastic segment accounted for the largest share of the global chilled food packaging market. Plastic is the most preferred material for packaging refrigerated products. Plastic packaging is a flexible form of packaging, allowing food service providers to customize its shape, style, and size as per customers’ requirements. Plastic packaging is preferred in the food service industry since it is lightweight. Furthermore, plastic packaging products used in food packaging are easy to transport. Owing to their durability and resistance to external influences, they help preserve chilled packaged food products. Chilled desserts, ready meals, dairy products, meats, seafood, pasta dishes, poultry, fruits, and vegetables are often packaged in plastic or plastic-based materials. Based on type, the pouches and bags segment held the largest chilled food packaging market share in 2022. Bags and pouches are manufactured from materials such as foils and food-grade plastics. They are utilized mostly for packaging frozen vegetables, meats, seafood, and other foods. They are preferred because of their lightweight and compactness. Based on application, the dairy products segment accounted for a significant share in the global chilled food packaging market. The majority of dairy products are perishable. Numerous types of packaging concepts are needed to pack different types of dairy products. The demand for different dairy products has resulted in improvements in processes and packaging concepts, which significantly raises the shelf life of dairy products in cold chain distribution. Chilled food is packaged to keep the food products fresh and for protection against external factors, such as temperature changes, moisture, and vapor. This will further attract new growth opportunities for the overall industry growth.
REGIONAL ANALYSIS
The report provides a detailed overview of the global chilled food packaging market with respect to five major regions—North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The Middle East & Africa accounted for a significant share of the market; the market in the Middle East & Africa was valued at over US$ 700 million in 2022 and is expected to witness considerable growth over the forecast period. Rapid increase in e-commerce positively contributed to the market growth in Middle East & Africa. Asia Pacific also witnessed considerable growth; the market is expected to reach over US$ 5 billion in 2030, attributed to increasing demand from e-commerce and organized retail for chilled food packaging. The North America chilled food packaging market is expected to grow at a CAGR of over 5%; the increased preference of ready-to-eat food is expected to further boost the chilled food packaging market growth in North America.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnership, acquisitions, and new product launches were found to be the major strategies adopted by the players operating in the global chilled food packaging market.
In May 2023, Graphic Packaging partnered with Cranswick Plc to commercialize a recyclable PaperLite pack for Tesco Plc.
In April 2020, Elopak and GLS announced a joint venture in which the two companies will each have 50% ownership. The newly formed company, GLS Elopak, will leverage the expertise, assets, and networks of Elopak and GLS to capitalize on the significant consumer demand in India.
IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
The COVID-19 pandemic led to a decline in the progress of many industries across the world. Shutdown of manufacturing plants and restricted trade across the globe led to supply chain constraints for the manufacturers worldwide. The COVID-19 pandemic adversely affected the growth of the chemicals & materials sector and the chilled food packaging market. The implementation of measures to combat the spread of SARS-CoV-2 hindered the growth of different industries. The pandemic caused disruptions in the global supply chain due to factory shutdowns, transportation restrictions, and labor shortages. These upheavals affected the availability of raw materials and packaging components, leading to potential supply chain delays and increased operating costs for chilled food packaging manufacturers. The scarcity of raw materials and higher transportation expenses contributed to rising production costs. In addition, the food service sector, including restaurants, cafes, and catering services, experienced a sharp decline in demand because of lockdowns and social distancing measures. This decline directly impacted the demand for chilled food products and their associated packaging in food service operations. As a result, manufacturers of packaging materials operating in the food service sector faced reduced orders and revenue loss. Nevertheless, the chilled food packaging market has recovered quite well from the aftermath of the pandemic and is expected to grow over the coming years.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the chilled food packaging market are Mondi Plc; Amcor Plc; Sealstrip Corp; Sonoco Products Co; Amerplast Ltd; Berry Global Group Inc; Westrock Co; Graphic Packaging Holding Co; Tetra Pak International SA; and Sealed Air Corp.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Material, Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Based on the application, meat and poultry segment is projected to grow at the fastest CAGR over the forecast period. Meat and poultry foods are perishable products, and the packaging of chilled meat and poultry products is crucial in food safety programs. Atmosphere-appropriate packaging is widely used for protecting chilled meat and poultry products. Beef, lamb, pork, and chicken must be kept below +5°C. Plastic bags, cartons, wraps, and films are majorly utilized for packaging meat and poultry products.
Organized retail and e-commerce platforms provide a broader reach and greater visibility for chilled food products. Consumers increasingly prefer organized retail formats due to the convenience and wide range of products they offer. Organized retail, such as supermarkets, hypermarkets, and specialty stores, offers a wide range of produce, dairy products, meat, seafood, ready-to-eat (RTE) meals, and more. The convenience of having multiple products under one roof attracts consumers and encourages them to choose organized retail over traditional retail formats. The diverse product assortment requires appropriate packaging to ensure product integrity, hygiene, and presentation on store shelves. dditionally, chilled food packaging helps extend the shelf life of perishable products by providing protective barriers against oxygen, moisture, and contaminants. Hence, retailers can stock various chilled food items for longer periods, lowering the risk of spoilage and minimizing product waste. Proper packaging enables retailers to offer fresh and high-quality products to consumers.
Consumers demand safe and low-processed food; thus, chilled food packaging players are making significant changes in packaging solutions. Also, there are growing environmental concerns. In Canada, many cities have banned the distribution of polystyrene foam cups and containers because end users are seeking sustainable solutions. Vancouver (Canada) also restricts plastic shopping bags and disposable cups. The Canadian packaging industry promotes major food packaging projects aiming to ensure 100% recyclable, reusable, or compostable packaging solutions. Further, eco-friendly packaging helps protect human health and the environment and maintain natural resources. Ideal packaging material should possess recycling properties, serving as a viable solution for ecological issues. Food service packaging companies are seeking ways to recycle as part of their efforts toward finding sustainable food packaging solutions.
Based on material, plastic segment mainly has the largest revenue share. The growth of the segment is attributed to the excellent properties of the plastic as packaging material. Plastic is the most preferred material for packaging refrigerated products. Plastic packaging is a flexible form of packaging, allowing food service providers to customize its shape, style, and size as per customers’ requirements. Plastic packaging is preferred in the food service industry since it is lightweight.
North America accounted for the largest share of the global chilled food packaging market. North America is one of the most significant regions for the chilled food packaging market owing to drastic increase in the consumption of ready-to-eat food.
The major players operating in the global chilled food packaging market are Mondi Plc; Amcor Plc; Sealstrip Corp; Sonoco Products Co; Amerplast Ltd; Berry Global Group Inc; Westrock Co; Graphic Packaging Holding Co; Tetra Pak International SA; and Sealed Air Corp.
The List of Companies - Chilled Food Packaging Market
- Mondi Plc
- Amcor Plc
- Sealstrip Corp
- Sonoco Products Co
- Amerplast Ltd
- Berry Global Group Inc
- Westrock Co
- Graphic Packaging Holding Co
- Tetra Pak International SA
- Sealed Air Corp
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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