The global frozen food packaging market size is expected to reach USD60.5bn in 2028 and register a CAGR of 5.5% during the forecast period, according to a latest report by Reports and Data. Rapid global frozen food packaging market revenue growth can be attributed to increasing international trade of frozen food products, improved transportation facilities and logistics, and increasing consumption of frozen food products in emerging markets of South America and Asia Pacific. Emergence of innovative refrigerator displays in supermarkets, advances in freezing technologies, and presence of better and faster supply chain is contributing to increasing sales of frozen food and packaging solutions which are required to prevent food spoilage. Technological advancements in cold chain and developments in the retail landscape are boosting market revenue growth. Technological advancements have helped flexible packaging manufacturing companies in the development of more improved packaging designs and supply of new film types, the report states.
The rapid expansion of online food delivery services in developing countries is supporting growth of the frozen food packaging market. Convenience offered by online grocery shopping channels is a key factor boosting sales of frozen meat, vegetables, and ready meals. Shift in preference towards sustainable packaging is boosting demand for more eco-friendly alternatives in packaging materials for frozen food, which include molded pulp, paper, and bioplastics.
Increasing international trade of frozen food products owing to rising consumption of frozen food and improved transportation facilities is expected to continue to support demand for effective frozen food packaging materials. Factors such as technological advancements in cold chain and developments in the retail landscape are boosting demand for frozen food, which in turn is driving market growth. Rising awareness among consumers regarding food waste is another factor resulting in shifting preference towards frozen foods. As per studies, it was shown that there is a 47% reduction in the household food waste for frozen products in comparison to fresh products. However, stringent government regulations regarding packaging of frozen food is expected to restrain growth of the frozen food packaging market to some extent during the forecast period.