Global Market for Microwave Packaging is Projected to Reach US$14 Billion by 2020
Packaging Innovation Drives the Global Microwave
Packaging Market, According to New Report by Global Industry Analysts, Inc.
GIA launches comprehensive
analysis of industry segments, trends, growth drivers, market share, market size
and demand forecasts on the global Microwave Packaging market. Global market for Microwave Packaging
is projected to reach US$14 billion by
2020, driven by increased penetration of
microwave ovens, and microwave packaging advancements.
Limitations posed by the
inadequacy of microwavable food packages considerably restricted applications
of the oven to merely heating and reheating of chilled foods and beverages. Microwave
food packaging represents an all-important aspect of microwavable food product
development. Initially, aluminum-foil containers were widely used but generated
genuine practical problems such as arcing, triggering microwave fires,
magnetron destruction and blocking penetration of microwaves into food. A major
breakthrough occurred with the development of a singular susceptor technology
based microwavable popcorn package. Presently, there exists a new breed of
combination ovens that provide twin benefits of microwave energy and infrared
radiant/ forced-convection air heating to eliminate heating drawbacks
encountered with an exclusive microwave only oven. Although microwave ovens
have long existed as an effective cooking device, its emergence into the
mainstream of the food delivery system is fairly recent and is solely propped
up by advancements in packaging technology.
Future microwave packaging
solutions will use powerful sensors, fuzzy logic, digital displays and other automatic
features aimed at improving the microwave cooking experience. Product packages
of the next generation will be built to intelligently communicate to the
consumer when to stir, uncover, add salt, etc. Besides the convenience factor, growth in
demand is also expected to be driven by urbanization, changing lifestyles, rising GDP, increasing awareness about
the benefits of nutrient retaining packaging, scarcity of time, and smaller
family sizes. Another important driver is growing disposable incomes as a
result of rapid economic expansion in the underpenetrated large emerging
markets of Asia-Pacific and Latin America.
The huge proportion of microwavable foods that are sold in the developing and
underpenetrated Asian countries offers significant opportunities for growth.
As stated by the new
market research report on Microwave
Packaging, Europe represents the largest regional market worldwide. Asia-Pacific
ranks as the fastest growing market with a CAGR of 11% over the analysis period.
Key growth drivers in the region include improving standards of living, increasing
health consciousness, hectic pace of modern life, ubiquity of microwave ovens,
rising number of working women, growing demand for premium packaging,
environment-friendly packaging regulations, and increasing consumer interest in
lifestyle products and processed foods, among others.
Key players covered in the
report include American Packaging Corporation, Ampac Packaging LLC, Amcor
Limited, Bemis Company Inc., Berry Plastics Corporation, Coveris, DNP America,
Graphic Packaging Holding Company, Huhtamaki Oyj, Inline Packaging LLC, Mullinix
Packages, Inc., Packaging Concepts Inc., Printpack Inc., Rock-Tenn Company,
Rexam Plc., SC Johnson & Son Inc., Sealed Air Corporation, Sirane Ltd.,
Silgan Holdings Inc., and Sonoco Products Company, among others.
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