Global Microwave Packaging Market Outlook
According to a new report by Expert Market Research titled “Global Microwave Packaging Market Size, Share, Analysis, Report, Demand, Forecast 2023-2028″, the global microwave packaging market is projected to grow at a CAGR of 7.50% between 2023 and 2028. Aided by the mounting demand for convenient and time-efficient food preparation methods and rising demand for convenience foods, frozen foods, the market is expected to grow significantly by 2028.
Microwave packaging facilitates the rapid heating and cooking of food products in a microwave oven. This packaging is widely used in a variety of items, including ready-to-eat meals, frozen food, soups, snacks, and desserts. It has become indispensable in contemporary fast-paced lifestyles due to its convenience and ability to reduce cooking time drastically. Beyond its practical attributes, microwave packaging also plays a key role in maintaining product freshness, flavour, and nutritional content.
The rising consumer preference for convenience foods is a prominent driver propelling the global microwave packaging market growth. As work schedules become increasingly hectic, consumers are gravitating towards fast, simple, and nutritious meal options, thus driving demand for microwaveable packaged products. Moreover, the increasing number of single-person households and dual-income families also contribute to the rising need for convenient and quick meal preparation solutions.
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Furthermore, health consciousness among consumers has led to a significant shift towards microwaveable packaged products that preserve nutritional value, aiding the microwave packaging market growth. This trend has sparked the production of innovative microwave packaging solutions, including steam-cooking packaging, which allows consumers to steam cook fresh or frozen vegetables within the packaging, thereby retaining maximum nutrients.
The expanding application of microwave packaging in various industries also significantly influences the microwave packaging market development. In the food service sector, restaurants and fast-food chains utilise microwave packaging for take-away and delivery services to ensure food safety and maintain optimal temperatures. Similarly, in the retail sector, the growing demand for ready-to-eat and frozen food products has driven an increased focus on microwave packaging as an efficient and practical solution.
Technological advancements in the field of packaging have also bolstered the microwave packaging market expansion. Innovations in material science have led to the development of microwave-safe materials that are resistant to high temperatures and do not leach harmful substances into food. This has not only improved consumer safety but also enhanced the efficiency and effectiveness of microwave cooking.
Furthermore, sustainable and recyclable materials are increasingly being employed in microwave packaging, following the global trend towards environmental responsibility. The rise of biodegradable and compostable packaging solutions in response to growing environmental concerns is expected to provide an additional boost to the microwave packaging market.
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Global Microwave Packaging Market Segmentation
The market can be divided based on material, product, application, and region.
Market Breakup by Material
- Plastics
- Papers
- Others
Market Breakup by Product
- Trays
- Folding Cartons
- Cups, Tubs, and Bowls
- Others
Market Breakup by Application
- Fresh Prepared Foods
- Frozen Foods
- Shelf Stable Meals
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global microwave packaging companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Westrock Company
- Inline Packaging
- Amcor Plc
- Graphic Packaging Holding Company
- Packaging Concepts Inc.
- Others
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