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 grow at a CAGR of 5.0% from 2022 to 2030.
Chilled food packaging refers to the specialized packaging used to store and transport perishable food items that require refrigeration to maintain their freshness and prevent spoilage. It is designed to provide a controlled environment that helps extend the shelf life of chilled food products. The expansion of organized retail and e-commerce is driving the market growth of chilled food packaging market.
The global chilled food packaging market is mainly driven by the expansion of organized retail and e-commerce globally. The market includes a range of packaging materials, such as plastic, paper and paperboard, aluminum, wood, etc. which are 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. Further, the increase in the demand of ready-to-eat food is expected to offer lucrative opportunities for the chilled food packaging market during the forecast period.
Based on material, the chilled food packaging market is segmented into plastic, aluminum, paper and paperboard, and others. Based on material, plastic segment accounted for the largest share in global chilled food packaging market in 2022. 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.
In 2022, North America held the largest revenue share of the global chilled food packaging market. The major factors driving the growth of the chilled food packaging market in North America are the high demand for packaged food products and growing consumer preference of convenient food for on-the-go consumption. According to research commissioned by the American Frozen Food Institute (AFFI) and conducted by Technomic Inc., more than 90% of food service operators use chilled and frozen foods stored as inventory in their restaurants to offer a quick service experience to the customer. This has created a huge scope of expansion for the chilled food packing market in North America. Further, rising preferences of sustainable packaging solutions by chilled and frozen food companies for reducing costs and preserving the quality and nutritional value of the goods have created new opportunities in the chilled food packaging market. New technologies such as high-pressure processing and self-heating packaging for chilled food have led to the expansion of the food packaging industry in North America.
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 are key players operating in the global chilled food packaging market. Market players focus on providing high-quality products to fulfill customer demand. They are also adopting strategies such as investments in research and development activities and new product launches.
The overall global chilled food packaging market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the chilled food packaging market.