According to the latest research, the demand for ready meals packaging is anticipated to grow with a moderate growth rate of about 4.0% to 6% in between the coming assessment period of 2021-2031. Due to increasing demand for packaging of various pre-cooked products from an increasingly urbanized population, the market is expected to expand at a healthy pace over the next few years.
They are widely used in frozen food industry, bakery & confectionary, meats, poultry & seafoods. Increasing demand for packaged food due to changing lifestyles and eating habits is projected to have critical impact on this market. Due to hectic working life and busy schedules people prefer for the ready meals packet for minimizing time consumption and they are easily accessible in the market also.
They are available in different types of packaging such as plastics, paper and paperboards, zippers and others which are used to protect, promote and store the product for longer time.
The investments by packaging companies in terms of using the advanced technologies for better packaging has led to increased shell life of the products. Such factors are projected to drive the ready meals packaging market during the forecast period.
What is Driving Demand for Ready Meals Packaging?
The major factor driving the market are the longer shelf life of the product because of proper packaging and easily availability. Due to hectic work life and changing lifestyles consumers are more inclining towards the ready to eat food products which are easily consumed without any efforts and less time.
These preferences of consumers propelling the demand of ready meals packaging market. Packaging of these products done with proper material and process plays a vital role to protect them for getting contaminated and keep them safe for consumption for a longer duration of time.
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Growth of E-commerce and Online Food Delivery Platforms to Boost the Growth of Ready Meals Packaging Market
Packaging plays a vital role in maintaining food safety and quality of the ready to eat meals, ensuring longer shelf life. Packaging is of high importance in this area because they are helpful by preventing the food products from spilling and also enables ease of handling & carrying for the consumers.
Plastic cling film are widely used for packaging purposes; they are easy to use with the advanced innovations in the cling film which are helpful for driving the market. Green packaging solutions are also being developed used to reduce the environmental pollution and provide the wide range of benefits in energy conservation, recycling and efficient transport which leads to the growth of this industry.
The sudden rise of online platforms offering home delivered ready to eat meals is a major factor augmenting market demand, since it has increased the scope and reach of the ready to eat meals sector to an unprecedentedly large audience base. These platforms are projected to help drive the sales of such meals and hence boost demand for its packaging during the forecast period.
APAC Ready Meals Packaging Market Outlook
Currently, the Asia-Pacific region is the largest market of global food packaging and is estimated to witness the highest CAGR for the ready meals packaging market. The increased demand for ready to eat meals and consumer spending on packed food are the key driving factors for demand in this region.
China is the major consumer for food packaging and due to rising urban population increasing consumer disposable income, and rising awareness about ready to eat meals, it is easily one of the single largest markets for this product on a global level.
Changing lifestyles and shifting consumer preferences in markets such as India and ASEAN countries are also driving demand for ready to eat meals, thus driving demand for its packaging in these markets.
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Europe and North America Demand Outlook
The significant growth in the food and beverages industries in various countries of Europe such as Germany, France, Italy, and others have boosted the demand of ready meals packaging in these countries.
U.S. is the largest consumer of ready-to-eat product and meals. Due to rapid increase in awareness pertaining to healthy lifestyle & shifting consumers demand patterns towards the high-quality packaged food, the demand for this product is projected to grow rapidly in these markets.
Who are the Key Manufacturers and Suppliers?
Some of the leading manufacturers and suppliers include
Ready Meals Packaging market is growing steadily, and with the growing number of opportunities key players are also focusing on acquisitions of small and medium size players and collaborations with other market participants either for the food industry or to manufacture the product at a large scale.
Significant growth of the packaging sector in food and beverages industry is projected to drive the market in future.
The Ready Meals Packaging report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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