Fresh Food Packaging Market expected to attain a market value of $4,890.6 million by 2026 in Europe
According to a new report published by Allied Market Research, titled,“Europe Fresh Food Packaging Market by Food Type, Product Type, and Material: Opportunity Analysis and Industry Forecast, 2019-2026,” the Europe fresh food packaging market size was $3,718.2 million in 2017, and is projected to reach $4,890.6 million by 2026, registering a CAGR of 3.1% from 2019 to 2026.
Food packaging helps in retardation of product deterioration, retainment of the beneficial effects of processing, helps in extension of shelf-life, and increasing and maintaining the quality and safety of food.
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Large scale manufacturing process to improve fresh food packaging have remained cynosure for the engaged stakeholders in the industry. As a result, the Europe fresh food packaging market has witnessed an increase in innovation during the last few years. Introduction of technologies like nanotechnology and biotechnology has revolutionized the Europe fresh food packaging market growth. Technologies, such as edible packaging, micro packaging, anti-microbial packaging, and temperature-controlled packaging are all set to revolutionize food packaging market. The ability to deploy large scale manufacturing and innovate competitive technologies has been recognized as the next key driver for the Europe fresh food packaging market.
Cellulose nanocrystals also known as CNCs are now being utilized for food packaging. CNCs provide advanced barrier coatings for food packaging. Derived from natural materials such as plants and woods, cellulose nanocrystals are biodegradable, nontoxic, have high thermal conductivity, sufficient specific strength, and high optical transparency. These features make it an ideal component for advanced food packaging. CNCs can be easily dispersed in water and have crystalline nature. As a result, manufacturers in Europe fresh food packaging industry can control packaging structure to annihilate free volume and can optimize its properties as a barrier material.
The Europe fresh food packaging market is segmented based on food type, product type, material type, and country. Based on food type, the market is classified into fruits, vegetables, and salads. Based on product type, the market is studied across into flexible film, roll stock, bags, sacks, flexible paper, corrugated box, wooden boxes, tray, and clamshell. Based on material, the market is categorized into plastics, wood, paper, textile and others. The Europe fresh food packaging market is studied across Spain, UK, France, Italy, Russia, Germany, and rest of Europe.
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Key Findings of The Europe Fresh Food Packaging Market :
- The plastic segment was the highest contributor to the Europe fresh food packaging market in 2018 and is projected to grow at a robust CAGR during the forecast period.
- The clamshell and flexible paper segment is expected to grow with above average CAGR during the forecast period
- In 2018, based on product type, corrugated boxes accounted for about 11.5% of the Europe fresh food packaging market share and is expected to growth at the CAGR of 2.7%.
- Consumption of rigid packaging material is forecasted to be around 1,674 KT at the end of forecast period growing with the CAGR of 2.7%
- In 2018, based on country, Italy accounted for a leading market share and is anticipated to grow at a CAGRs of 3.3% throughout the forecast period.
- Rest of Europe accounted for about 28.6% of the market in 2018 from a growth perspective, France and rest of Europe are the two potential markets, expected to witness robust growth during the forecast period. At present, these two segments account for 41.5% of the market share.
The key players during the Europe fresh food packaging market analysis includes Sonoco Products Company, Hayssen, Inc., Smurfit Kappa Group, Visy, Ball Corporation, Mondi Group, and International Paper Company.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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