The Latest Frozen Food Packaging Industry Statistics Explained
The global frozen food packaging market size was valued at USD 39.86 billion in 2020.
The statistic indicates that the total value of the global frozen food packaging market reached USD 39.86 billion in the year 2020. This figure reflects the significant economic scale of the market dedicated to packaging frozen food products for retail and commercial purposes worldwide. The size of this market suggests a high demand for packaging solutions designed specifically for frozen foods, which cater to the needs of consumers and the industry. Factors such as convenience, food safety, and increasing consumption of frozen foods likely contribute to the growth and size of the global frozen food packaging market.
The market is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2021 to 2028.
This statistic indicates that based on current market trends and projections, the market is anticipated to experience a consistent growth rate of 5.3% annually from the year 2021 to 2028. The compound annual growth rate (CAGR) takes into account the effect of compounding over multiple periods, providing a more accurate representation of the average growth rate over that time frame. Therefore, this projection suggests that the market is likely to expand steadily at a rate of 5.3% each year, which can be an important factor for businesses and investors in determining future opportunities and strategies within this market.
In 2020, plastic material type dominated the market for frozen food packaging.
The statistic “In 2020, plastic material type dominated the market for frozen food packaging” indicates that plastic materials were the most commonly used type of packaging for frozen food products in that particular year. This could suggest that plastic is preferred by manufacturers and consumers due to various factors such as cost-effectiveness, ease of production, durability, and convenience. However, it also raises concerns about the environmental impact of plastic waste, prompting the need for sustainable alternatives in food packaging to reduce plastic usage and minimize ecological harm. The statistic highlights the current dominance of plastic in frozen food packaging and emphasizes the importance of transitioning towards more environmentally friendly packaging solutions in the future.
Meat, poultry, and seafood dominated the application segment in 2020.
The statistic “Meat, poultry, and seafood dominated the application segment in 2020” suggests that within a specific industry or market, products or services related to the processing, production, or distribution of meat, poultry, and seafood were most prominent or had the highest demand compared to other applications. This could indicate that these particular products were the most popular or widely used within the industry during that year, potentially reflecting consumer preferences, market trends, or other factors driving the dominance of meat, poultry, and seafood applications in 2020.
The demand for frozen food packaging in North America was valued at USD 11.45 billion in 2020.
The statistic states that the market value of frozen food packaging in North America was estimated to be USD 11.45 billion in the year 2020. This figure represents the total amount of money spent on packaging materials specifically for frozen food products in the North American region during that year. The demand for frozen food packaging can be influenced by various factors such as consumer preferences, population trends, economic conditions, and technological advancements. This statistic provides insight into the size and importance of the frozen food packaging market in North America, indicating a substantial industry that plays a significant role in preserving and delivering frozen food products to consumers in the region.
The US held the largest frozen food packaging market share in North America in 2020.
The statistic signifies that in 2020, the United States had the highest proportion of the total market for frozen food packaging within North America. This suggests that the United States was a dominant player in the frozen food packaging industry in the region, outperforming other countries in terms of market share. This could be indicative of various factors such as the size and strength of the US economy, the level of consumer demand for frozen food products, as well as the presence of strong packaging companies in the country. The statistic highlights the significant influence and presence of the US in the North American frozen food packaging market in the year 2020.
The Asia Pacific region is expected to register the highest CAGR of 6.1% from 2021 to 2028.
This statistic indicates that the Asia Pacific region is anticipated to experience the highest Compound Annual Growth Rate (CAGR) of 6.1% between the years 2021 and 2028. A CAGR of 6.1% implies that the region’s economic or market size is projected to increase by an average of 6.1% annually over the specified period. This suggests a strong potential for economic expansion and growth in various sectors within the Asia Pacific region. Businesses and investors may find this statistic valuable in assessing potential opportunities for investment and development in the region.
Frozen Ready Meals hold the largest share of the frozen food packaging market.
The statistic “Frozen Ready Meals hold the largest share of the frozen food packaging market” indicates that among various categories within the frozen food sector, Frozen Ready Meals account for the highest proportion of sales or market size in terms of packaging. This indicates a significant demand for pre-packaged frozen meals that are convenient and easy to prepare. The popularity of Frozen Ready Meals suggests consumer preference for quick and simple meal solutions that require minimal effort in terms of cooking and preparation. This insight is valuable for industry stakeholders, as it highlights the importance of catering to consumer needs for convenient and time-saving food options in the frozen food market.
The frozen food packaging sector spends approximately 7% of its total expenditure on research and development.
The statistic that the frozen food packaging sector spends approximately 7% of its total expenditure on research and development indicates the importance placed by this industry on innovation and improvement. By allocating a significant portion of their budget towards research and development, companies within this sector are demonstrating a commitment to advancing their products, processes, and technologies in order to stay competitive in the market. This investment in research and development likely plays a crucial role in driving product innovation, enhancing food safety standards, and improving packaging efficiency within the frozen food industry. The substantial investment in research and development reflects a strategic approach to continuously improving and evolving to meet changing consumer demands and industry trends.
More than 50% of the global frozen food packaging revenue was contributed by Europe and North America in 2021.
This statistic indicates that the combined contribution of Europe and North America to the total revenue from frozen food packaging exceeded 50% in 2021. This suggests that these two regions play a significant role in the frozen food packaging industry, both in terms of production and consumption. The fact that more than half of the global revenue comes from Europe and North America highlights the economic importance of these regions in the frozen food market. It also implies that companies operating in these regions may have a competitive advantage or market dominance in the frozen food packaging sector compared to other regions around the world.
The frozen food packaging market in the Middle East and Africa is expected to grow at a CAGR of 4.5% between 2021 and 2028.
This statistic indicates that the frozen food packaging market in the Middle East and Africa region is projected to experience a Compound Annual Growth Rate (CAGR) of 4.5% over the period from 2021 to 2028. This growth rate suggests a steady increase in the demand and consumption of frozen food products in the region, prompting a corresponding rise in the need for packaging solutions to accommodate this demand. The CAGR is a useful measure for investors and industry stakeholders to understand the potential growth trajectory of the market over the specified time frame, providing insight into future opportunities and market dynamics in the frozen food packaging sector within the Middle East and Africa.
The food bags subsegment is anticipated to reach a market value of USD 4,375 million by 2028.
The statistic indicates a projected market value for the food bags subsegment of USD 4,375 million by the year 2028. This forecast suggests that there is expected growth in the market for food bags, potentially driven by factors such as increasing consumer demand for convenient and eco-friendly packaging solutions. The anticipated value serves as a key indicator for stakeholders in the food packaging industry, providing insights into the potential market size and opportunities for growth and investment in this particular segment.
The flexible packaging segment is expected to account for the largest share of the market in the coming years.
This statistic indicates that within the packaging market, the flexible packaging segment is projected to have the highest market share in the future. Flexible packaging includes materials such as plastic films, aluminum foil, paper, and other materials that can easily adapt to different shapes and sizes. The forecast suggests that consumer preferences, technological advancements in materials, and sustainability factors may be driving the growth of flexible packaging. As a result, companies operating in the packaging industry may need to focus on developing and marketing flexible packaging solutions to remain competitive and capture a larger share of the market in the upcoming years.
The Meat and Poultry segment was estimated to be largest in terms of volume (tons), in 2020.
This statistic indicates that within the food industry, the Meat and Poultry segment had the highest volume of products produced or consumed in 2020. This suggests that there was a significant demand or supply of meat and poultry products compared to other segments such as dairy, fruits, or vegetables. The large volume can be attributed to various factors such as consumer preferences, cultural traditions, dietary habits, and the availability and affordability of meat and poultry products. This statistic is important for businesses and policymakers in the food industry to understand market trends and make informed decisions about production, distribution, and marketing strategies related to Meat and Poultry products.
China is projected to grow at the highest CAGR of 6.2% during the forecast period.
The statistic “China is projected to grow at the highest Compound Annual Growth Rate (CAGR) of 6.2% during the forecast period” indicates that China is expected to experience the highest average annual growth rate among all countries examined over a specific period. A CAGR of 6.2% suggests a positive and relatively strong growth trajectory for China’s economy or a specific industry within the country. This statistic implies that China’s economic performance is likely to outpace that of other regions or countries in the coming years, making it an attractive market for investors or businesses looking for growth opportunities.
The U.K frozen food packaging market is anticipated to expand at a CAGR of 3.7% from 2021 to 2028.
The statement indicates that the U.K frozen food packaging market is expected to experience a Compound Annual Growth Rate (CAGR) of 3.7% between 2021 and 2028. This means that the market is projected to grow steadily at an average annual rate of 3.7% over the specified period. The CAGR is a useful metric for measuring the smooth annual growth rate of a market, allowing for a more accurate assessment of performance over time. In this case, the forecast suggests that the U.K frozen food packaging market is likely to see consistent growth, potentially driven by factors such as increasing consumer demand, changing preferences, or technological advancements in packaging methods.
Amid the COVID-19 crisis, the global market for Frozen Food Packaging estimated at USD 37.6 Billion in the year 2020, is projected to reach a revised size of USD 55.2 billion by 2027.
The statistic indicates that amidst the COVID-19 crisis, the global market for Frozen Food Packaging was valued at USD 37.6 billion in the year 2020. Furthermore, it is projected that this market is expected to grow substantially, reaching a revised size of USD 55.2 billion by the year 2027. This is likely due to the increased demand for frozen food products as consumers turned to convenient and long-lasting food options during the pandemic. The growth forecast suggests that the frozen food packaging industry is expected to experience significant expansion in the coming years, reflecting changing consumer preferences and behaviors in response to the global health crisis.
The clamshell packing sub-segment in frozen food packaging is projected to exhibit a CAGR of 5.5% during the forecast period.
The statistic indicates that the clamshell packing sub-segment within the frozen food packaging industry is expected to experience a Compound Annual Growth Rate (CAGR) of 5.5% over the forecasted period. This means that the revenue or market size of clamshell packaging specifically for frozen foods is anticipated to increase at a steady annual rate of 5.5% during the specified time frame. This projection suggests a positive trend for the clamshell packing sub-segment, indicating potential growth opportunities within the frozen food packaging sector for companies operating in this particular market segment.
The pouches sub-segment assessed for a market share of 25.1% in 2020.
The statistic “The pouches sub-segment assessed for a market share of 25.1% in 2020” means that within a specific market or industry, the product category of pouches accounted for 25.1% of the total market share in the year 2020. This indicates that out of all the products or sub-categories within that market, pouches held a significant portion, showing its relative popularity or importance compared to other offerings. This statistic can be used by businesses and analysts to understand the competitive landscape, make strategic decisions, and identify opportunities for growth within the market segment of pouches.
Trays in the frozen food packaging industry are anticipated to reach a market value of USD 4,059 million by 2027.
The statistic indicates that the market for trays in the frozen food packaging industry is forecasted to grow significantly, reaching a total value of USD 4,059 million by the year 2027. This suggests strong demand and growth opportunities within the industry as companies look to package their frozen food products. The increasing market value highlights potential investments and profits for businesses operating in the frozen food packaging sector. Factors contributing to this growth could include evolving consumer preferences, technological advancements in packaging materials, and the overall expansion of the frozen food market.
References
0. – https://www.www.fiormarkets.com
1. – https://www.marketresearch.biz
2. – https://www.www.meticulousresearch.com
3. – https://www.www.researchandmarkets.com
4. – https://www.www.grandviewresearch.com
