APAC Frozen Food Packaging Market Size

APAC Frozen Food Packaging Market Analysis

Asia Pacific Frozen Food Packaging Market will register a CAGR of 5.34% over the forecast period. The increasing demand for meat, seafood, fruits, and vegetables drives the market for frozen food packaging. Some of the emerging types in this sector are frozen ready-to-eat foods owing to lifestyle changes.

• The growing population in the Asia Pacific region is propelling the demand for food and frozen food products. Surging urbanization and expanding awareness about foodborne illnesses, food wastage, spoilage, quality products, and fast-paced lifestyle have shifted the preferences of consumers towards frozen food products, which requires less time for cooking than the traditional home-cooked meal.
• "On-the-go" customer base and rising purchasing power have further fueled the market through the growth in developing nations like China and India. The demand for frozen food packaging is also predicted to grow as there is a rising need for appealing, inventive, and easy-to-carry packaging to set the product apart from the competition.
• China has the largest share of the Asia-Pacific frozen food packaging market. According to the National Bureau of Statistics of China, 64.72% of the population resided in cities in 2021, contributing to the increased demand for frozen food products. Chinese consumers are now looking for easy-to-use and quality food products. The need for frozen meat and other regularly consumed products in the fixed food market has been constant in the region because of their availability.
• Players in the region are teaming up with private equity companies to expand their footprint in one of the nations with the highest rate of QSR development due to the rising ice cream consumption. It will spur demand for frozen food packaging. For instance, in May 2022, Dairy Queen, the prominent quick-service ice cream and fast food restaurant company, aimed to open 600 new restaurants in China by 2030, following an agreement with private equity firm FountainVest Partners to penetrate the country's frozen-treat market further.
• With the outbreak of COVID-19, frozen food packaging manufacturers got flooded with a pool of issues. However, they were only for the short -term. Some of the effects of the lockdown include supply chain disruptions, lack of availability of raw materials used in the manufacturing process, labor shortages, fluctuating prices that could cause the production of the final product to inflate and go beyond budget, shipping problems, etc.
• However, owing to the increased risk of diabetes as companies use starch to keep frozen food items fresh, the risk of heart disease and other diseases will hinder the market growth.