The expansion of the trend of healthy living is estimated to guide the Produce Packaging Market 2020. The packaging and transport industry reports are produced by Market Research Future, which highlights market options for expansion. A CAGR of 5.1% roughly is estimated to guide the market in the coming period.
The amplification in fresh produce production is estimated to bolster the demand for produce packaging considerably in the forecast period. The rise in the use of a broader range of fresh produce is predicted to create the impetus needed to expand the produce packaging market. Also, the need to ensure a longer shelf life of the produce is anticipated to transform the market in the forecast period.
The segmentation of theProduce Packaging Industry has been conducted based on application, region, packaging type, and end-user. On the basis of packaging types, the produce packaging market has been segmented into bags and liners, plastic containers, corrugated boxes, and trays. The application basis of segmenting the produce packaging market has been segmented into fruits, vegetables, and salads. On the basis of end-users, the produce packaging market has been segmented into re-packers, growers/shippers, and retail stores. Based on the regions, the produce packaging market is segmented into the Middle East, Europe, Asia-Pacific, North America, Africa, and South America.
Detailed Regional Analysis
The regional review of the produce packaging market has been segmented into Europe, Asia-Pacific, the Middle East, North America, Africa, and South America. The Asia-Pacific in 2018, held the principal share in the international produce packaging market, trailed by the North American and European regions. It is anticipated to prolong its authority until 2025. The towering production tariff of freshproducein the region, mostly in countries such as China and India, is among the key factors, which is anticipated to elevate the need for produce packaging in the region for the duration of the forecast period. The North American region has observed superior development owing to augmented R&D investment and product improvement as far as packaging is concerned. Besides, strict food safety policies are driving the demand for smart packaging in the food & beverage sector in nations such as the US and Canada.
The availability of suitable means to build robust distribution channels is estimated to characterize the future expansion of the market in the forecast period. The stability of the economic state is expected to further lend to the favorable development in the global market strength. The improvement in research and development facilities and equipment is further projected to influence the growth of the market in the forecast period. The need to prepare for contingencies such as natural disasters, pandemics, and international trade wars is expected to allow the market a better capability to deal with the challenges. The scope of development of the market shows a high growth potential that the market can achieve in the coming years. The strategic allocation and positioning of assets are expected to aid each competitor in the mart with their growth goals. The inducement of positive regulations introduced by the governments of several countries is estimated to enhance the profits that can be gained by the market.
The outstanding contenders in the produce packaging market are Smurfit Kappa (Ireland), COVERIS (US), Berry Pack, Inc. (US), Pactiv LLC (US), DS Smith (UK), Mondi (Austria), Ultimate Group (UK), Sealed Air (US), Amcor plc (Australia), International Paper (US), and Sonoco Products Company (US), Stora Enso (Finland), INFIA SRL (Italy), Packaging Corporation of America (US), and WestRock Company (US) to name a few of the contenders active in the market.