The SNS Insider report indicates that the size for produce packaging market was USD 32.85 bn in 2022, and it is projected to reach USD 48.17 bn by 2030, with a compound annual growth rate (CAGR) of 4.9% during the forecast period from 2023 to 2030.
(YourDigitalWall Editorial):- Austin, Texas Oct 10, 2023 (Issuewire.com) – Market Scope & Overview
As per SNS Insider’s research, the Produce Packaging Market is undergoing a transformation driven by consumer preferences, sustainability concerns, regulatory changes, and technological advancements.
The SNS Insider report indicates that the size of the produce packaging market was USD 32.85 billion in 2022, and it is projected to reach USD 48.17 billion by 2030, with a compound annual growth rate (CAGR) of 4.9% during the forecast period from 2023 to 2030.
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Some major key players in the Produce Packaging market
- Sealed Air Corporation
- Smurfit Kappa Group
- DS Smith Plc
- Bemis Company
- Amcor Limited
- International Paper Inc
- Mondi Group Plc
- Pactiv LLC
- Sonoco Products Company
- Packaging Corporation of America and other players.
Market Report Scope
Produce packaging refers to the materials and containers used to package and protect fruits, vegetables, and other agricultural products before they reach consumers in stores or markets. Produce packaging plays a vital role in preserving the freshness and safety of agricultural products while also contributing to the overall presentation and marketing of these items in the marketplace. As consumer awareness of sustainability and environmental concerns continues to grow, the industry is likely to see further advancements in eco-friendly and efficient produce packaging solutions. In recent years, there has been a focus on reducing plastic waste and adopting sustainable packaging solutions in the produce industry.
The produce packaging market is experiencing growth driven by a combination of factors that reflect evolving consumer preferences, sustainability concerns, and technological advancements. In our fast-paced world, consumers are increasingly seeking convenience without compromising on the quality and freshness of their food. This trend has fueled the demand for produce packaging that extends the shelf life of fruits and vegetables, ensuring they remain fresh until consumption. There is growing awareness among consumers about the environmental impact of excessive plastic waste. This has prompted a shift towards eco-friendly packaging solutions, such as biodegradable and recyclable materials, which are being adopted by producers and packaging companies. Governments and regulatory bodies are implementing stricter regulations to reduce plastic waste and promote sustainable packaging practices. This has driven innovation in produce packaging materials and methods to meet compliance standards. Advancements in packaging technologies have allowed for better preservation of produce. Modified Atmosphere Packaging (MAP), for instance, helps maintain the ideal atmospheric conditions inside packages to extend shelf life and reduce food waste.
KEY MARKET SEGMENTS
- Corrugates Boxes
- Bags and liners
- Plastic Containers
- Food Grains
By End User
- Re Packers
- Retail Stores
Impact of Recession
The impact of an ongoing recession on the produce packaging market is multifaceted. While reduced consumer spending and economic uncertainty can lead to challenges, there may also be opportunities for innovation and adaptation. Packaging companies that can provide cost-effective, sustainable, and efficient solutions may weather the recession more successfully than others. Adapting to changing consumer preferences and closely monitoring supply chain dynamics will be crucial for businesses operating in this market during challenging economic times.
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Impact of Russia-Ukraine War
The instability in the region can result in fluctuations in commodity prices, including those of raw materials used in produce packaging, such as plastics, paper, and cardboard. Price volatility can impact the production costs for packaging manufacturers, which may, in turn, affect the prices of packaging materials for producers and consumers. Geopolitical conflicts often lead to shifts in consumer behavior and preferences. Consumers may become more conscious of the origins of the products they buy, including the packaging materials used. This awareness can drive demand for packaging that aligns with ethical and sustainable principles.
Key Regional Development
North America standing in a leading position in the produce packaging market. Consumers and businesses are increasingly demanding eco-friendly materials, leading to a rise in biodegradable and recyclable packaging options. The growth of online grocery shopping has increased the demand for innovative packaging that ensures the freshness and safety of produce during transit. European countries are at the forefront of circular economy initiatives, promoting the use of reusable and recyclable packaging materials to minimize waste. Stringent regulations to reduce plastic waste are pushing the development of alternative packaging materials like bioplastics and paper-based solutions. As urban populations grow, the demand for convenient and smaller packaging sizes has surged, influencing packaging trends in Asia-Pacific. E-commerce platforms are booming in the region, requiring packaging that can withstand long-distance shipping and maintain product quality.
Key Takeaway from Produce Packaging Market Study
- In the dynamic world of produce packaging, the trays segment is emerging as a dominant force, revolutionizing the way fruits and vegetables are presented and preserved. One of the key advantages of trays is their exceptional versatility. They come in various materials, including plastic, foam, and even eco-friendly options like biodegradable materials, meeting the diverse needs of the produce industry.
- In the ever-evolving landscape of the market, the fruits segment stands out as a pivotal player, contributing significantly to the industry’s growth and transformation. The fruits segment has been at the forefront of sustainable packaging practices. With the growing global emphasis on environmental conservation, packaging solutions for fruits have increasingly embraced eco-friendly materials and designs.
Recent Developments Related to Produce Packaging Market
- Produce Packaging, a leading player in the packaging industry, has recently taken a significant step to expand its presence in the UK market through the strategic acquisition of Innavisions, a prominent packaging solutions provider. This move marks a pivotal moment in Produce Packaging’s growth strategy and reinforces its commitment to offering innovative packaging solutions to its customers.
- BASF, a global leader in sustainable chemical solutions, has joined forces with StePac, a prominent packaging company specializing in modified atmosphere packaging (MAP) solutions. The partnership between BASF and StePac signifies a significant step towards addressing this issue in the fresh produce industry.
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Table of Content
- Research Methodology
- Market Dynamics
- Impact Analysis
- Value Chain Analysis
- Porter’s 5 forces model
- PEST Analysis
- Produce Packaging Market Segmentation, By Type
- Produce Packaging Market Segmentation, By Application
- Produce Packaging Market Segmentation, By End User
- Regional Analysis
- Company Profile
- Competitive Landscape
- USE Cases and Best Practices
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