Chilled Food Packaging Market Share Report and Global Analysis by 2030

[Research Report] The chilled food packaging market size is expected to grow from US$ 12,948.11 million in 2022 to US$ 18,902.73 million by 2030; it is estimated to register a CAGR of 5.0% from 2023 to 2030.

MARKET ANALYSIS

The global chilled food packaging market refers to the packaging of perishable food items that require refrigeration to maintain their quality and freshness. The market includes a range of packaging materials, such as plastic, paper and paperboard, aluminum, and wood, designed to keep the food products at a low temperature during transportation and storage. The market is driven by the growing demand for convenience foods, increasing urbanization, and changing lifestyles. The rising awareness of food safety and hygiene is also driving the demand for chilled food packaging. Additionally, the growth of e-commerce and online grocery shopping is expected to fuel the demand for chilled food packaging during the forecast period.

GROWTH DRIVERS AND CHALLENGES

Expansion of organized retail and e-commerce is boosting the global chilled food packaging market growth significantly. Organized retail and e-commerce platforms provide a broader reach and greater visibility for chilled food products. Consumers increasingly prefer organized retail formats due to the convenience and wide range of products they offer. Organized retail, such as supermarkets, hypermarkets, and specialty stores, offers a wide range of produce, dairy products, meat, seafood, ready-to-eat (RTE) meals, and more. The convenience of having multiple products under one roof attracts consumers and encourages them to choose organized retail over traditional retail formats. The diverse product assortment requires appropriate packaging to ensure product integrity, hygiene, and presentation on store shelves. Moreover, increase in demand for convenience or ready-to-eat food is further boosting the global chilled food packaging market growth. The consumption of high-quality convenience food is increasing, which is currently one of the biggest trends in the food industry. Convenience foods, such as RTE products, allow consumers to save time and effort associated with shopping for ingredients, meal preparation and cooking, consumption, and post-meal activities. The development of this food segment is ascribed to many social changes; the most notable of these include the growing number of smaller households and the rising millennial population worldwide. However, the stringent government regulations associated with chilled food packaging, might limit chilled food packaging market growth. Stringent government regulations can impose certain restrictions on chilled food packaging. While these regulations are implemented to ensure consumer safety and environmental sustainability, they can present challenges and limitations for packaging manufacturers and suppliers. Complying with stringent norms often requires significant investments in research, testing, certification, and ongoing compliance monitoring.

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Chilled Food Packaging Market: Strategic Insights

Chilled Food Packaging Market

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  CAGR (2022 - 2030)

  5.0%
• Market Size 2022
  US$ 12.95 Billion
• Market Size 2030
  US$ 18.9 Billion

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• Mondi Plc
• Amcor Plc
• Sealstrip Corp
• Sonoco Products Co
• Amerplast Ltd
• Berry Global Group Inc
• Westrock Co
• Graphic Packaging Holding Co
• Tetra Pak International SA

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Material

• Plastic
• Aluminum
• Paper and Paperboard
• Others

Type

• Boxes
• Tubs and Cups
• Cans
• Pouches and Bags
• Others

Application

• Dairy Products
• Meat and Poultry
• Seafood
• Fruits and Vegetables
• Others

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REPORT SEGMENTATION AND SCOPE

The "Global Chilled Food Packaging Market Analysis to 2030" is a specialized and in-depth study with a major focus on the global chilled food packaging market trends and growth opportunities. The report aims to provide an overview of the global chilled food packaging market with detailed market segmentation by material, type, application, and geography. The global chilled food packaging market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of chilled food packaging worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the chilled food packaging market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the chilled food packaging market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative chilled food packaging market opportunities that would, in turn, aid in identifying the major revenue pockets.

Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global chilled food packaging market, which helps understand the entire supply chain and various factors affecting the market growth.

SEGMENTAL ANALYSIS

The global chilled food packaging market is segmented on the basis of material, type, and application. Based on material, the chilled food packaging market is segmented into plastic, aluminum, paper and paperboard, and others. Based on type, the chilled food packaging market is segmented into boxes, tubs and cups, cans, pouches and bags, and others. Based on application, the chilled food packaging market is segmented into dairy products, meat and poultry, seafood, fruits and vegetables, and others. Based on material, plastic segment accounted for the largest share of the global chilled food packaging market. Plastic is the most preferred material for packaging refrigerated products. Plastic packaging is a flexible form of packaging, allowing food service providers to customize its shape, style, and size as per customers’ requirements. Plastic packaging is preferred in the food service industry since it is lightweight. Furthermore, plastic packaging products used in food packaging are easy to transport. Owing to their durability and resistance to external influences, they help preserve chilled packaged food products. Chilled desserts, ready meals, dairy products, meats, seafood, pasta dishes, poultry, fruits, and vegetables are often packaged in plastic or plastic-based materials. Based on type, the pouches and bags segment held the largest chilled food packaging market share in 2022. Bags and pouches are manufactured from materials such as foils and food-grade plastics. They are utilized mostly for packaging frozen vegetables, meats, seafood, and other foods. They are preferred because of their lightweight and compactness. Based on application, the dairy products segment accounted for a significant share in the global chilled food packaging market. The majority of dairy products are perishable. Numerous types of packaging concepts are needed to pack different types of dairy products. The demand for different dairy products has resulted in improvements in processes and packaging concepts, which significantly raises the shelf life of dairy products in cold chain distribution. Chilled food is packaged to keep the food products fresh and for protection against external factors, such as temperature changes, moisture, and vapor. This will further attract new growth opportunities for the overall industry growth.

REGIONAL ANALYSIS

The report provides a detailed overview of the global chilled food packaging market with respect to five major regions—North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The Middle East & Africa accounted for a significant share of the market; the market in the Middle East & Africa was valued at over US$ 700 million in 2022 and is expected to witness considerable growth over the forecast period. Rapid increase in e-commerce positively contributed to the market growth in Middle East & Africa. Asia Pacific also witnessed considerable growth; the market is expected to reach over US$ 5 billion in 2030, attributed to increasing demand from e-commerce and organized retail for chilled food packaging. The North America chilled food packaging market is expected to grow at a CAGR of over 5%; the increased preference of ready-to-eat food is expected to further boost the chilled food packaging market growth in North America.

INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES

Partnership, acquisitions, and new product launches were found to be the major strategies adopted by the players operating in the global chilled food packaging market.

In May 2023, Graphic Packaging partnered with Cranswick Plc to commercialize a recyclable PaperLite pack for Tesco Plc.

In April 2020, Elopak and GLS announced a joint venture in which the two companies will each have 50% ownership. The newly formed company, GLS Elopak, will leverage the expertise, assets, and networks of Elopak and GLS to capitalize on the significant consumer demand in India.

Chilled Food Packaging Market Report Scope

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IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION

The COVID-19 pandemic led to a decline in the progress of many industries across the world. Shutdown of manufacturing plants and restricted trade across the globe led to supply chain constraints for the manufacturers worldwide. The COVID-19 pandemic adversely affected the growth of the chemicals & materials sector and the chilled food packaging market. The implementation of measures to combat the spread of SARS-CoV-2 hindered the growth of different industries. The pandemic caused disruptions in the global supply chain due to factory shutdowns, transportation restrictions, and labor shortages. These upheavals affected the availability of raw materials and packaging components, leading to potential supply chain delays and increased operating costs for chilled food packaging manufacturers. The scarcity of raw materials and higher transportation expenses contributed to rising production costs. In addition, the food service sector, including restaurants, cafes, and catering services, experienced a sharp decline in demand because of lockdowns and social distancing measures. This decline directly impacted the demand for chilled food products and their associated packaging in food service operations. As a result, manufacturers of packaging materials operating in the food service sector faced reduced orders and revenue loss. Nevertheless, the chilled food packaging market has recovered quite well from the aftermath of the pandemic and is expected to grow over the coming years.

COMPETITIVE LANDSCAPE AND KEY COMPANIES

Some of the key players operating in the chilled food packaging market are Mondi Plc; Amcor Plc; Sealstrip Corp; Sonoco Products Co; Amerplast Ltd; Berry Global Group Inc; Westrock Co; Graphic Packaging Holding Co; Tetra Pak International SA; and Sealed Air Corp.