The modern day food packaging offers complete protection, tampering and biological safety, and counterfeit resistance. It often bears nutrition information label and additional facts about the edible product offered for sale. Emergence of packaging or labels have helped marketers lure potential customers to buy a food item. Packaging further plays an important role in assuring customer satisfaction as well as information transmission. Food packaging instructs how the product should be used; transported; recycled, disposed etc.
There are numerous factors driving, obstructing and creating opportunities for the market. The fact that food packaging market mainly in Europe is customer-oriented and remains unchanged. Thus, this industry is greatly driven by the growing demand for extended shelf-life of a product. Furthermore, the rising need for convenience food products indicate that this market definitely has a bright future. Besides this, increased disposable income and growing awareness among buyers over packaged food is also driving the market. Counterfeit activities reported from across Europe has however, hindered or restricted the progress of the market to a greater extent. Moreover, the disposable management of the waste during the production too has hindered the growth of the industry. Advent of new technologies within the industry such as water soluble packaging, edible packaging, smart packaging, self cooling and self-heating packing and more are creating greater opportunities for the industry. New regulation for packing materials are also helping the market grow in Europe.
The market has been segmented in terms of type, material, geography, product and POS. In terms of type the market is segmented into paper and board, flexible and rigid plastic, metal, glass, wood and others. The key point of sale (or POS) of the food packaging market arebulk and retail. The demand for food packaging has grown rapidly in the fruits and vegetable industry. Countries including Germany, United Kingdom, France, Austria, Bulgaria and others are witnessing development in the fresh food packaging industry.
Fresh food packaging market is seen adopting some exceptionally wiser strategies in the midst of growing demand to stay competitive. Prominent brands are seen collaborating to increase their product portfolio or services and enter new markets. Food packaging companies are now spending heavily on research and development to maintain a competitive edge in the marketplace. Adoption of effective marketing and branding strategy are another important factors that are helping brand to position their products successfully. Some of the prominent market players of fresh food packaging market includes Ultimate Packaging, Mondi Group,International Paper Company,PP Global,DuPont,Amcor Limited,Coveris Holdings S.A,Temkin International Inc.,Smurfit Kappa,Univeg Group and others.
KEY BENEFITS FOR STAKEHOLDERS
By POS (or point of sale)
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