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Reclosable Food Packaging Market Growth & Forecast Report by 2029 | North America to Dictate Backed by Awareness toward Sustainable Packaging
The global reclosable food packaging market size is set to gain momentum from its rising usage in the ready-to-eat food industry and high demand for packaged food worldwide. Fortune Business Insights™
As per the Financial Express report published in June 2020, many companies that offer ready–to–eat food such as curries, frozen food, mixtures, and drinks claim that demand is rising for such instant meals in recent years. They have mentioned that their sales have increased by 5 percent from the pre-COVID year. Due to the increasing demand, several reclosable food packaging industries are now focusing on launching unique products to attract more consumers. For instance, In July 2020, Diageo manufactured the world's first 100% plastic-free paper-based bottles for its Johnnie Walker Black label. Diageo also, in partnership with Pilot Lite, launched its new sustainable packaging company named Pulpex.
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Market Segmentation
Based on the product type, the market is divided into bags, pouches, trays, clamshells, bottles, and jars. By material, it is divided into plastic, glass, and aluminum. The market is segregated into fruits & vegetables, bakery & confectionery, and seafood & meat by end-users. In terms of geography, the market is categorized into North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
Highlights of the Report
The report contains an unmatched analysis of the reclosable food packaging industry. It provides strategies followed by key players to increase their growth opportunities and revenue in the market. Additionally, itentions regional analysis, mergers, acquisitions, project economics, future trends, and challenges affecting the growth of the market. This report provides deep information about the market share, size, and sales andffers a comprehensive analysis of the impact of COVID-19 on the market.
Drivers and Restraints:
Increasing Consumption of Packaged Food to Drive Growth
In recent times, packaged food has emerged as a popular convenience food for the working population. The working population leads a hectic lifestyle and reclosable packaged materials offer food to be safe from the outer air and keep it fresh for a longer time and thus, increase their shelf-life. Besides, the rising number of working women in all countries over the past years and long hours of working schedule has led to the reclosable food packaging market's growth. Today’s world is focusing on sustainability, and reclosable packaging lowers the burden of using new packaging and thus protects our environment from extra waste.
On the flip side, the government has imposed stringent rules against few plastic reclosable food packaging materials, which will hinder the market growth.
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Regional Insights:
North America to Dictate Backed by Awareness toward Sustainable Packaging
North America is expected to hold a significant share in the market due to the increased awareness about using reusable packaging, which would positively impact the market. According to the report published by MINTEL in 2016, food shoppers in the U.S. agree to buy food packaged in reclosable packets to reduce packaging waste, and around 52 percent of customers prefer to buy food in sustainable packaging. The U.S. food shoppers agree that reducing food waste is as important as reducing packaging waste. This awareness will positively promote the market in this region.
On the other hand, the Asia Pacific region is also anticipated to witness a steady growth in terms of reclosable food packaging products due to the rising consumption ofackaged food.
Competitive Landscape
Key Players to Focus on Launching Innovative Reclosable Food Packaging to Intensify Competition
Leading entities in this market are concentrating on creating innovative products to widen their business horizons and maximize their profitability. For example, in July 2019, Mondi Group launched a recyclable packaging film named Modified Atmosphere Packaging (MAP) and Vacuum Packaging to increase the shelf life of specific dairy products and meat.
Industry Development
September 2018: Mondi group launched a reclosable packaging range for the Orkla group. This packaging will help in meat packaging and enhance consumer experience and thus reduce food wastage.
List of Key Players Covered in the Reclosable Food Packaging Market Report:
- Sealed Air Corporation
- Mondi Group.
- Toray Plastics (America). Inc.
- Bemis Company, Inc.
- Pacific Bag. Inc.
- Ampac Holdings
- Sonoco Products Company
- Accredo Packaging. Inc.
- Bostik SA
- Bischof + Klein SE & Co.
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