Global Punnet packaging Market: Overview
Punnet packaging is available in a variety of formats to suit the consumer needs. Punnet packaging is suitable for commonly used storing methods. Punnet packaging ensures the protection and freshness of the product. Punnet packaging includes trays, containers, boxboard and others. The materials which are used for punnet packaging are Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), Polystyrene (PS), Poly Vinyl Chloride (PVC), Polyamide (Nylon). Punnet packaging play a vital role in the packaging of fruits and vegetables. These packaging provide environmentally friendly packaging solutions and can be decomposed very easily as a result of which these products are 100% recyclable and produce less pollution. Plastic punnet packaging are best suited for optimum protection for the food products. The material used in punnet packaging provides transparency of both punnets and lids which become perfectly visible and attractive for both consumers. Eye catching presentation is one of the prominent factors which is fueling the demand of the global punnet packaging market. The global food service packaging is witnessing an emerging trend towards the sustainable packaging solutions. Due to rise in growth of the intake of fruits and vegetables among the consumers to counteract different type of diseases, including cancer, has led to the growth of the global punnet packaging market. In today’s era, consumers are more concerned about the nutritional aspects to achieve the proper health. This has led to increase in the consumption of fruits and vegetables among the consumers which is expected to drive the growth of the global punnet packaging market.
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Global Punnet packaging Market: Dynamics
The global foodservice packaging market is witnessing an emerging trend towards the sustainable packaging solutions. Due to rise in growth of the intake of fruits and vegetables among the consumers to counteract different type of diseases, including cancers, has led to the rise in growth global punnet packaging market. In today’s era, consumers are more concerned towards the nutritional aspect to achieve proper health; this has led to increase in consumption of fruits and vegetables among the consumers is expected to drive the growth of the global punnet packaging market. Furthermore, fresh cut vegetables and fruits are more prone to the spoilage when they are left open in the air and result in the growth of the microorganisms or enzymes on the surface. To solve this problem, manufacturers play an essential role by providing new smart packaging technologies which are expected to be suitable for the packaging of high demand fresh fruits and vegetables. Hence, the demand for the punnet packaging market is significantly increasing and is expected to witness healthy growth in near future. Punnet packaging is readily used in packaging and storage of both fresh as well as processed foods. The robust growth of food & beverage industry especially in fast pacing emerging markets, punnet packaging market is expected to witness an above average rate of growth, during the forecast period.
Global Punnet packaging Market: Regional Overview
Geographically, the global punnet packaging market is segmented into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, and Asia Pacific excluding Japan (APEJ), Japan and the Middle East & Africa (MEA).
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According to the TMR Analysis, the global rigid packaging market in terms of value is estimated to be at 601,134.4 Mn in 2017 and is estimated to be valued at 762,722.0 Mn in 2024, over the forecast period. On the basis of application type, rigid packaging is segmented into food & beverage, chemical Industry, consumer goods, healthcare and pharmaceuticals, other industries.
Global Punnets Packaging Market: Key Players
Some key players that currently operate in punnet packaging market across the globe can be segmented into three tiers based on their market share as follows:
- Tier -1 (includes market leader’s players with a market share of more than 5%)
- Smurfit Kappa Group