Asia Pacific Frozen Food Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia Pacific Frozen Food Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Asia Pacific Frozen Food Packaging Market is expected to register a CAGR of 5% over the forecast period 2021-2026. The major categories of packaged food are bakery products and frozen processed food. Some of the emerging categories in this sector are frozen ready to eat foods. Storage life can be extended notably by making storage temperatures colder.

Key Highlights

• In the Asia-Pacific region, the demand for food products is expected to grow with increasing population, and quality products are expected to be on demand, with urbanization and expanding awareness about foodborne illnesses, food wastage, and food spoilage.
• China has the largest share in the Asia-Pacific frozen food packaging market. Large population and urbanization in this country have led to an increased demand for frozen food products. Chinese consumers are now looking for easy-to-use and quality food products. The demand for frozen meat and other regularly consumed products in the frozen food market has been constant in the region, because of their availability.
• According to the National Bureau of Statistics of China, the growth of food packaging in China had increased by 32% by 2018, since 2013. Furthermore, the market also provides an opportunity for vendors of frozen food packaging solutions, as it is still in the nascent stage in terms of adoption of the latest packaging products.
• With the recent outbreak of COVID 19, frozen food packaging manufacturers have been flooded with a pool of issues that are expected to be only for the short -term. Some of the effects of lockdown include supply chain disruptions, lack of availability of raw materials used in the manufacturing process, labor shortages, fluctuating prices that could cause the production of the final product to inflate and go beyond budget, shipping problems, etc.

Key Market TrendsIncrease in disposable income and changing consumer behavior

• Various factors, such as changing lifestyle, increasing disposable income, and rapid urbanization in developing countries, especially the growing middle-income population, are increasing the demand for bags for frozen food. The increase in population density has increased demand for packaged food in general with millenials contributing to the growth.
• After packaging, it takes time for packaged food to reach consumers across various parts of the world. The packaged food may not be fresh and might lose its aroma and taste before reaching the consumer. The threat of food being spoilt before reaching the consumer is increasing, as it would result in a loss of the capital invested in the packaging.
• To overcome this, food processing industries are investing in technologies and various new packaging techniques, such as intelligent packaging and engineering science, which help in increasing the shelf life of the product. This is reason for the increased demand of frozen food in the industry. Organizations are focusing on consumer satisfaction, apart from revenues, as it impacts the image and value in the market.
• Millennial customers generally drive the demand for frozen food packaging products, and millennials account for 30% of the total Latin American population. These people have an ardent preference for single-serving and on-the-go style food and beverage foodstuffs. As these products are usually designed to be durable, portable, and lightweight, flexible packaging is a famous option for packing such products
• The increase for frozen food is also due to increased convinience of retail stores in the region. The demand from retailers have increased significantly in the past few years.
• These products are generally designed to be portable, durable, and lightweight; frozen food packaging stands to be a famous option to pack such products. The increasing demand for snack foods, both in terms

Glass Packaging to Drive the Market

• The demand for healthier and safer packaging is helping the industry of glass packaging to grow in variable categories.Innovative techniques for shaping, giving artistic finish, embossing is making them more desirable to the end users. Moreover the demand for biodegradable and eco-friendly products as well as the rise of baverage and food market stimulating the industry growth of glass packaging.
• It is one of the most trusted forms of packaging when it comes to taste, health and safety of environment. It is also considered premium because of its elite designs or finish, characteristics to maintain the freshness, safety of the product.
• This is also termed as the most desirable emvironmenral friendly packaging type because of its recyclable nature. the most signeficant innovation in recent times is the light weight glass, it offers same resistance as the previous glass type with higer stability and lower emmision of CO2.
• The emerging markets like India and china are experiencing high demand for packaged and frozen food due to the increase in per capita income as well as per capita spending. It is due to changing behaviour and lifestyle od the customers. However the increase in operational costs also give rise to the use to different substitute products like tins, plastics.

Competitive Landscape

The Asia Pacific Frozen Food packaging market is moderately fragmented and consists of several major players. The major players with a prominent share in the market are focusing on expanding their customer base across foreign countries.

• April 2021 - Amcor Ltd announced is pleased a strategic investment in ePac Flexible Packaging, a leader in the high quality, short run length digital printing segment for flexible packaging. The investment will range between approximately USD 10 to USD 15 million, including a minority ownership interest in ePac Holdings LLC and funding for one or more ePac franchise site.
• November 2020 - Toppan Co. Ltd launched new eco-friendly packaging for frozen food, such as meat, processed seafood, and other primary products kept in frozen storage for long periods of time. The product is developed by leveraging original vapor-deposition and coating technologies to reduce oxidation and therefore prevent discoloration, loss of flavor, and changes in food texture for a longer period than is possible with conventional packaging.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Pactiv LLC
Amcor Ltd
Genpak LLC
Graham Packaging Company, Inc.
Ball Corporation Inc
Crown Holdings
Tetra Pak International
Placon Corporation
Toyo Seikan Group Holdings, Ltd.
WestRock Company
Nuconic Packaging
The Scoular Company
Owens
Illinois
Rexam Company
Alcoa Corporation

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