The produce packaging market was valued at USD 31.15 billion in 2020 and is expected to reach USD 37.63 billion by 2026, at a CAGR of 3.10% over the forecast period 2021 – 2026, primarily due to market for whole and fresh-cut produce is projected to grow as consumers continue to seek healthy food.
– Furthermore, the transformation of whole fresh produce into fresh-cut products results in a highly perishable food with a very short shelf life, demanding for high quality packaging in this segment.
– Packaging companies are innovating extensively and looking for extended shelf life which has resulted in modified atmosphere packaging (MAP). Additionally, growers & producers, are more focused upon reducing produce and packaging waste losses and export growth to newer markets.
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Companies profiled for this market are adopting eco-friendly packaging by using biodegradable packaging material which can be recycled, renewed, and reused. intense competition is witnessed between the packaging providers in the market resulting in mergers and acquisitions to expand product portfolio and geographical reach.
– June 2019 – Amcor acquired Bemis Company Inc, which has provided Amcor with an extensive range of flexible packaging to expand its footprint across America region.
– November 2018 – WestRock Company acquired KapStone Paper and Packaging to increase corrugated business by strenghthening West Coast of the United States access and adds attractive paper grades and distribution capabilities to its portfolio.
Bags and Pouches as Packaging Material Type to Witness a Significant Share in the Market
– Increasing health consciousness and awareness regarding benefits of fresh food consumption are motivating growers to opt for produce packaging with a longer shelf life. Therefore, rising demand for better shelf life products across countries such as the United States is driving the market growth.
– Plastic pouch’s ability to enable co-polymerization, and the addition of plasticizers, blowing agents, antibacterial additives, and color-changing additives are also fueling the growth of the studied segment.
– Stand-up pouches and pillow pouch pouches are some of the most common types used globally and rising consumption of organic food will act as a catalyst for the growth in this segment primarily because Organic agricultural products need superior packaging for increasing their shelf-life.
– Also, increased small household sizes have contributed significantly to growing demand for small-sized flexible packaging of fresh produce. Most retailers currently, prefer smaller packages as they are perishables, occupies less shelf space and in stackable displays.
North America to Record a Significant Share in the Market
– The region expects a significant share in the market due to trends like, increased packaging of unpackaged produce items such as apples, pears, sweet potatoes and growing demand for cut and shredded produce that deploys convenience packaging.
– Moreover, united states export value of fresh vegetables in 2018 stood at USD 2,160 million according to USDA and Export & Import value for fresh fruit, nuts and vegetables and pulse crops together in Canada accounted to 542.5 million & 703.4 million respectively, as per latest data released by Statistics Canada. Such increased activity in the region is leading to increased adoption of produce packaging.
– With increasing trends towards reducing food waste in the trend, produce industry is likely to adopt the packaging due to convenience that it gives to retailers by providing smaller portions and eliminating packaging costs at multiple levels.
– Further, another major driver for produce packaging is the organic food market in this region. According to FiBL survey in 2017, organic food revenue in highest in united states at EUR 40,011 million and Canada at EUR 3,002 million, making North America lead the distribution of retail sales value. This creates a huge demand for produce packaging in the region.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluates key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: The Global Produce Packaging Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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