Market Share of Produce Packaging Industry
The produce packaging market is characterized by differentiation, growing levels of service penetration, and high levels of competition. Sustainable competitive advantage can be gained through innovation in design, technology, and application. The firm concentration ratio is expected to record higher growth during the forecast period, as several players are looking at the market as a lucrative opportunity to consolidate their product offerings. However, short product development cycles and relatively high exit barriers are some of the factors affecting firms in the market. Overall, the intensity of competitive rivalry is expected to be high.
- May 2022 - Berry Global Group, Inc. announced its collaboration with Cleanfarms and Poly-Ag Recycling on a closed-loop approach to advancing Canada's circular economy. The Canada-based recycling initiative was launched in early 2022 to recover used agricultural films, process recovered grain bag material, and produce new products with recycled content.
- October 2021 - Smurfit Kappa Group acquired a 600,000-ton containerboard mill Verzuolo in Northern Italy, for a purchase price of EUR 360 million. This mill complements the company's existing operations and is strategically located close to the port of Savona, which delivers significant benefits for the company in logistics and operations.
Produce Packaging Market Leaders
Amcor PLC
Berry Global Inc
International Paper Company
Sonoco Products Company
Mondi PLC
*Disclaimer: Major Players sorted in no particular order
