The Global Microwave Packaging Market is Projected to Reach US$18.8 Billion by 2024

Rising Demand for Microwavable Foods and Innovations in Packaging to Propel Growth in the Microwave Packaging Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Microwave Packaging market. The global Microwave Packaging market is projected to reach US$18.8 billion by 2024, driven by the growing consumer demand for microwavable foods and the increasing sales of microwave ovens. Innovations in microwave packaging designs and use of sustainable materials are also driving market growth.

The concept of microwaveable packaging has redefined the world of packaging by offering convenience and simplifying preparation and presentation of meals. Microwave friendly packaging, with recyclable, tamper-proof, and environmentally safe qualities, has become an important trend in the food packaging industry. Globally, demand for microwaveable packaging is in direct proportion to shipments of microwave ovens. With overall shipments of microwave ovens expected to remain stable, the market for microwaveable packaging is forecast to enjoy steady growth over the next few years. Growth in the recent years has been propelled by the development of microwave susceptor formats, which imitate traditional oven heating by directing microwaves to a product surface for permitting crisping and browning of foods.

Microwave packaging market is expected to post stable growth in the upcoming years, driven by growing consumer demand for foods offering convenience and ease of preparation as well as portability for on-the-move consumption. The increasingly hectic lives of people are enhancing demand for convenience and microwavable foods, which need minimal time and efforts in storage and preparation. Favorable economic development and increasing urbanization trend, particularly in developing economies of Asia-Pacific are also fueling market growth. The sustained increased in popularity of microwave cooking and foods is also expected to fuel demand for convenient packaging formats such as peel-off lids, zippers, spouts and cans.

Rapid improvements in packaging structure, whereby food can be heated in the package and served, along with technology innovations to deal with limitations of using microwave ovens such as crisping and browning are also expected to fuel market growth. The development of intelligent and smart packaging solutions is favoring market growth. Packaging materials featuring improved barrier, mechanical and antimicrobial properties have a critical role to play in maintaining quality of foods products, without the need for using additives and preservatives. Some of innovations being seen in packaging designs including easy to open-and-close fitments, growing use of sustainable materials, and development of highly attractive packaging shapes.

As stated by the new market research report on Microwave Packaging, Asia-Pacific represents the largest and fastest growing regional market, worldwide. The increasing sales of microwavable foods in the developing and yet un-penetrated Asian countries presents a huge opportunity for the growth of microwave packaging market in the region. Robust economic growth in the region, particularly in India and China, is also expected to accelerate the shift towards processed and packaged foods, driving demand for microwave packaging solutions.

Major players in the market include American Packaging Corporation, Ampac Packaging LLC, Amcor Limited, Bemis Company Inc., Berry Plastics Corporation, Coveris, DNP America LLC, Graphic Packaging Holding Company, Huhtamaki Oyj, Inline Packaging LLC, Mullinix Packages Inc., Packaging Concepts Inc., Printpack Inc., SC Johnson & Son Inc., Sealed Air Corporation, Sirane, Silgan Holdings, Sonoco Products Company and WestRock Company, among others.

The research report titled “Microwave Packaging: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea and Rest of Asia-Pacific), Middle East & Africa and Latin America (Brazil, Mexico and Rest of Latin America). The report analyzes the market by the following end-use applications - Fresh Food, Frozen Food, Shelf-Stable Meals and Others.

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