Market Analysis
The global ambient food packaging market size will grow at a 6% CAGR by 2023, states the latest Market Research Future (MRFR) report.
Drivers
Adoption of Eco-friendly Packaging to Boost Market Growth
The growing adoption of eco-friendly packaging to reduce the harmful impacts on the environment and health will boost the ambient food packaging market share value over the forecast period. Considering this, manufacturers are focusing to come up with eco-friendly packaging options like metal cans that use up to 80% recycled metal.
Opportunities
Introduction of Recyclable and Lightweight Products to offer Robust Opportunities
Increasing investments for R&D activities to introduce more advanced, lightweight, and recyclable products will offer robust opportunities for the ambient food packaging market over the forecast period.
Restraints
High Costs to act as Market Restraint
The high costs involved in ambient packaging will act as a market restraint over the forecast period.
Market Segmentation
The global ambient food packaging market is bifurcated into packaging type and material type.
By packaging type, the flexible packaging segment will lead the market over the forecast period for the easy handling at the time of product transportation and its resealable nature.
By material type, the plastic segment will dominate the market over the forecast period. Plastic ambient food packaging is an effective means to package perishable food and bulky products as this offers enhanced safety.
COVID-19 Analysis
The COVID-19 outbreak has impacted the food supply chains production with most shutting shops. But ease of lockdown rules has resulted in better approaches by ambient packaging manufacturers in the light of health scares. Manufacturers are undertaking sustainable approaches to cater to consumer demand and allaying fears. The consumption of pre-packaged processed foods and concerns during quarantine has driven the market demand significantly. The single-use packaging that boasts of waste reduction and lay emphasis on hygiene may experience a strong surge in the coming years. The consumers demand their food and packaging be handled by less people as possible. The automation of the packaging process without relying on human labor for keeping up with the demand may see higher adoption.
Regional Analysis
APAC to Head Ambient Food Packaging Market
The APAC region will head the ambient food packaging market over the forecast period. The demand for packaged food, growing population, rising disposable income levels of consumers, demand for ambient packaging of fruits, vegetables, meats, and dairy items in China and India, consumption of yoghurt by Chinese consumers, nutritional benefits and lack of refrigeration driving its need, product advancements, growing food processing industries, growing consumption of packaged meat, seafood, and other food products, rising penetration of the internet and smartphones, significant growth in the e-commerce sector, growing income levels, growing need for convenience food, changing standard of living of consumers, rising per capita income, and growing demand in emerging economies like India, Japan, and China are adding to the global ambient food packaging market growth in the region. Besides, China being the largest consumer owing to its growing economy and large population, expanding middle-class population, rising purchasing power, and increasing usage of the products in retail chains are also adding market growth.
North America to Have Significant Growth in Ambient Food Packaging Market
North America will have significant growth in the ambient food packaging market trends over the forecast period. Increasing urban population in the US that is resulting in the increased consumption of packaged foods and increasing popularity of single-serve packs, increasing infrastructure for the recycling of plastics, glass, and metals, and high bargaining power of buyers are adding to the global ambient food packaging market growth over the forecast period. Besides, the presence of large number of buyers, buyers seeking for customized and innovative solutions for their products and exhibiting high levels of price sensitivity and often resorting to material substitution, thriving retail sector, the high consumption of packaged foods by consumers, and the presence of large number of manufactures are adding to the global ambient food packaging market share over the forecast period.
Key Players
Key players profiled in the global ambient food packaging market report include FFP Packaging Solutions Ltd. (U.K), RPC Group (U.K), Amcor Limited (Australia), SIG Combiblog Obeikan (Switzerland), Tetra Pak (India), Rexam (U.K), Bemis (U.S.), Mondi (South Africa), Ampac (U.S), Dupont (U.S.), Excelsior Technologies (India) and KM Packaging (UK).
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