Market Research Future (MRFR) has published on the “Global Frozen Seafood Packaging Market”.
The Frozen Seafood Packaging Market is estimated to register a CAGR of 6.00% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Frozen Seafood Packaging Market— Amcor, Crown Holdings, Genpak, Sealed Air, Ardagh Group, Berry Group, DuPont, DS Smith, LINPAC, and Mondi Group.
Frozen Seafood Packaging Market Highlights
The global Frozen Seafood Packaging Market is accounted to register a CAGR of 6.00% during the forecast period and is estimated to reach USD 25.68 billion by 2032.
The market is experiencing growth as consumers shift towards healthier semi-processed pre-packaged refrigerated options. The rise in demand for items consumed at home can be attributed to the constraints of busy lifestyles, where limited time is available for meal preparation
Segment Analysis
The global Frozen Seafood Packaging Market has been segmented based on Type and Application.
Based on the Type, the market is segmented into Flexible Packaging and Rigid Packaging. The Flexible Packaging segment was attributed to holding the largest market share in 2022. Flexible packaging, crafted from food-grade materials, preserves the quality of seafood without degradation. Its versatility allows manufacturers to package fish at various temperatures, whether at room temperature, cold temperature, or frozen temperature, and the seafood can be either pre-cooked or packaged raw. Puncture-resistant materials, especially when frozen or vacuum-sealed, guarantee the product's integrity. The advantages of flexible packaging include maintaining the freshness, flavor, and protection of fish and seafood. Additionally, it can be designed with features such as easy-open tear notches, resealable zip locks, and airtight seals.
Based on the Application, the Frozen Seafood Packaging Market has been segmented into Frozen Fish, Frozen Shrimp, Frozen Shellfish, and Others. The Frozen Fish segment was expected to hold the largest market share in 2022. The surge in frozen fish consumption can be attributed to its significant value as a nutritious food source, containing essential nutrients such as vitamin E, vitamin B6, Niacin, and easily digestible proteins. The demand analysis of frozen fish indicates its pivotal role in fostering a robust growth rate for the overall frozen seafood market.
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Regional Analysis
The global Frozen Seafood Packaging Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Frozen Seafood Packaging Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Frozen Seafood Packaging Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Frozen Seafood Packaging Market comprises of Middle East, Africa, and Latin America.
The largest market share for the Frozen Seafood Packaging Market was maintained by the North American regional sector. In the North American region, the demand for canned seafood is on the rise, driven by various factors such as a substantial increase in the demand for canned fish products. This surge is attributed to factors like the growing population of working women, rising disposable income, and heightened consumer awareness regarding the health benefits associated with incorporating fish into their diets. The increasing emphasis on food, health, and nutrition, coupled with elevated spending in these domains, contributes to the escalating demand for canned seafood. Furthermore, the Food and Drug Administration (FDA) endorses the inclusion of fish like salmon, tuna, and other seafood in diets, highlighting their rich content of vitamin D, omega-3 fatty acids, EPA, DHA, and other essential nutrients, is anticipated to drive substantial demand for canned fish products. This regulatory support is expected to play a significant role in further propelling the market forward.
Moreover, the Europe market has been persistently growing over the forecast period. The growing inclination towards frozen-ready meals, driven by the escalating demands of busy lifestyles, has spurred an increased need for packaging solutions that offer convenient heating and consumption. In Germany, the sales of frozen foods witnessed a substantial volume increase of 3.6% in 2022, reaching 3.909 million tonnes compared to 3.773 million tonnes in 2021, amounting to a value of 18.5 million euros. Furthermore, the rising popularity of frozen-ready frozen meat and poultry products, coupled with the imperative for sustainable packaging materials, has catalyzed innovations in eco-friendly packaging alternatives.
In the Asia-Pacific region, the demand for food products is poised to surge, driven by a growing population that seeks quality offerings. Urbanization and expanding awareness of issues such as foodborne illnesses, food wastage, and food spoilage are further fueling this demand for high-quality products. China stands out as the dominant player in the Asia-Pacific frozen food packaging market, boasting the largest share. The significant population and ongoing urbanization in China contribute to an increased appetite for frozen food products. Chinese consumers are increasingly seeking convenient and high-quality food options, leading to a steady demand for frozen meat and other commonly consumed items in the frozen food market. As per the National Bureau of Statistics of China, the growth of the food packaging sector in the country witnessed a substantial 32% increase by 2018, compared to 2013. Moreover, this market presents an opportunity for vendors specializing in frozen food packaging solutions, given its nascent stage in terms of adopting the latest packaging products.
Furthermore, the rest of the world's Frozen Seafood Packaging Market is divided into the Middle East, Africa, and Latin America. The growth of the market is anticipated to be fueled by an increase in per capita seafood consumption in Brazil, Argentina, and the Caribbean region. The elevated demand for diverse fish types and seafood, particularly in the preparation of Caribbean cuisine, which prominently features fish, is expected to contribute to the rising demand for packaged seafood. In the Middle East & Africa, significant market expansion is projected, driven by a robust demand for seafood and fish due to their nutritional benefits. The surge in demand for canned fish products, attributed to their convenience and extended shelf life, is a key factor propelling market growth. Local brands, exemplified by South African company Woolworths, offering a diverse range of canned fish and seafood products, are expected to play a pivotal role in driving market dynamics.
Key Findings of the Study
- The global Frozen Seafood Packaging Market is expected to reach USD 25.68 billion by 2032, at a CAGR of 6.00% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market because Rapid economic development, rising incomes, and busy lifestyles are compelling consumers to embrace frozen foods, with convenience taking precedence over price considerations.
- Based on Type, the Flexible Packaging segment was attributed to holding the largest market in 2022, with an approximate market share of 55–60%.
- Amcor, Crown Holdings, Genpak, Sealed Air, Ardagh Group, Berry Group, DuPont, DS Smith, LINPAC, and Mondi Group
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Companies Covered | 15 |
Pages | 128 |
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