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Packaging industry has witnessed significant growth over the years and expected to continue the momentum in the upcoming years. Reclosable packaging is a sustainable type of packaging which can be reused for packaging of products. This type of packaging is convenient type of packaging preferred by consumers due to its durability and reusability. Moreover, this type of packaging increases the shelf life of food products and maintain the freshness for longer period by keeping it away from air.
Increasing demand from consumers for convenience food like ready-to-cook and ready-to-eat is likely to drive the market. The hectic lifestyle of working women is leading them to use easier and hassle-free ways to store food which is substantially increasing the demand for reclosable food packaging. Additionally, the availability of these packaging solutions in various sizes and shapes is likely to raise demand in the market.
However, government have imposed certain stringent rules on usage of plastics due to the disposability of plastic. This shall hamper the market growth for reclosable food packaging.
Key Market Driver -
Increasing demand for packaged food products.
Key Market Restraint -
Stringent rules regarding use of plastic.
Based on product, the market is segmented into bags, pouches, wraps, trays, clamshells, bottles, jars, and others. Based on material, the market is segmented into plastic, glass, aluminum foil, and others. Based on end-use the market is segmented into fruits and vegetables, bakery and confectionery, sea food and meat, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global reclosable food packaging market consists of global & regional players operating. Some of the key players in the market include Sealed Air Corporation, Mondi Group., Toray Plastics (America), Inc., Bemis Company, Inc., Pacific Bag, Inc., Ampac Holdings, Sonoco Products Company, Accredo Packaging, Inc, Bostik SA, Bischof + Klein SE & Co., and Others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold the largest market. The increasing awareness in consumer about reusability of packaging of the food products is likely to boost the market growth. Asia Pacific is anticipated to be the fastest growing market. The inclination of consumers towards ready to eat and convenience food is likely to drive the market. Europe is estimated to show significant growth attributed to high demand for packaged food products like diary and meat. The Latin America and Middle East and Africa are expected to show considerable growth by the end of the forecast period.
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