In-depth analysis of the COVID-19 impact on the Fresh Food Packaging Market: Leading Players are Amcor, Sealed Air Corporation, Smurfit Kappa, Coveris, Dupont, DS Smith and Mondi

Fresh Food Packaging Market size is expected to grow from USD 79.9 billion in 2020 to USD 94.7 billion by 2025, at a CAGR of 3.5% during the forecast period. The major factor driving market growth include the increasing demand for fresh food products from the emerging economies. The fresh food packaging sector has been growing in tandem with the packaging industry. The increasing population, rising demand for convenience food, and the extended shelf life of packaged food are the main drivers for the fresh food packaging industry.

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Polypropylene is the largest material segment of the fresh food packaging market.
Polypropylene is the largest type of material used in the fresh food packaging market. This material is not affected by changes in humidity and has moderate permeability to gases and odors and a higher barrier to water vapor. These properties enable the use of polypropylene in the production of a wide variety of food & beverage packaging solutions. Polypropylene generally has a high melting point, making it particularly suitable for food packaging products that are used in microwaves or cleaned in dishwashers.

Meat product is the largest application of the fresh food packaging market.
Amongst the various applications of the fresh food packaging market, meat product is the largest and the fastest-growing segment. Packaging protects meat products during processing, storage, and distribution. The aim of any packaging system for fresh meat foods is to prevent or delay undesirable changes in appearance, flavor, odor, and texture. For meat products, converted roll stock is the largest pack type as it can take any shape and size.

APAC is expected to hold the largest market share in the global fresh food packaging market during the forecast period.
APAC is the largest fresh food packaging market, both in terms of value and volume. The market in the region includes countries such as China, Japan, India, Australia, and Rest of APAC. The growth of the market in this region is mainly due to the increasing demand for packed food products. The e-commerce platform in the fresh food industry has gained significant acceptance, thereby increasing the demand for fresh food packaging.

Amcor PLC (Australia), International Paper Company (US), WestRock Company (US), Sealed Air Corporation (US), Smurfit Kappa (Ireland), Coveris (Vienna), Dupont (US), DS Smith PLC (UK), Mondi PLC (South Africa) and Silgan Holdings Inc. (US) are the leading fresh food packaging manufacturers, globally.

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Recent Developments:
o In January 2020, Amcor PLC partnered with Moda (New Zealand) to offer innovative packaging solutions in North America and Latin America.
o In November 2019, Smurfit Kappa collaborated with one of its partners, Mitsubishi HiTec Paper (Germany), to create a new type of innovative and recyclable food-safe packaging.
o In September 2019, Amcor PLC opened multiple e-commerce laboratories, one in Manchester, Michigan, US, and one in Ghent, Belgium, to help optimize customer packaging.
o In May 2019, West Coast Paper Mills Ltd. (India) entered into a share purchase agreement to acquire about 51%-60% stake in International Paper's (IP) Indian unit, International Paper APPM Ltd.
o In May 2019, Sealed Air Corporation signed a definitive agreement to acquire Automated Packaging Systems, Inc. (US), a leading manufacturer of high-reliability, automated bagging systems, for a purchase price of USD 510 million on cash and debt-free basis.
o In November 2018, WestRock Company announced the completion of its acquisition of KapStone Paper and Packaging Corporation (US).
In June 2018, Smurfit Kappa Bag-in-Box developed the Thermo Bag to meet the specifications of hot filling, which is a commonly used processing method in the drinks industry. Hot filling is used widely in the production of fresh apple juice.

Key Questions Addressed by the Report:
o Which are the future revenue pockets in the fresh food packaging market?
o Which key developments are expected to have a high impact on the global fresh food packaging market?
o Which products/technologies are expected to overpower the existing technologies?
o How the regulatory scenario further is expected to impact the fresh food packaging?
o What will be the future product mix in fresh food packaging?
o What are the prime strategies of leaders in the global fresh food packaging market?

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