Influential players must focus their strategic efforts on improved research funding and innovations to create cost-effective and sustainable packaging materials for cheese packaging.
DUBAI, UAE / ACCESSWIRE / February 20, 2020 / Global cheese packaging market is set for healthy growth during 2019 - 2029, with revenues projected to expand 1.8X during the forecast period. The market will cross revenues worth US$ 5 Bn by the end of 2029, as indicated by a new report of Future Market Insights (FMI). Accelerated consumption of ready-to-eat cheese is significantly influencing this demand. Increase in penetration of modern retail across the globe is accountable for increase in sales of packaged cheese products, further bolstering the cheese packaging market growth.
"Retail industry has brought in the trend of ready-to-eat food products, surging the sale and demand in cheese packaging market," says the FMI report.
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Key Takeaways of Cheese Packaging Market Study
- Plastics will continue leading the market as a preferred packaging material
- Trays & flow wraps are set to generate greater market revenue in the forecast period
- A majority of cheese packaging demand is concentrated at hypermarkets and supermarkets
- E-commerce expansion is creating an influx of opportunities for leading market players
- With one-third market share, Europe continues to lead its way in the cheese packaging market
Cheese Packaging Market - Top Growth Drivers
- Increasing consumption of on-the-go cheese products is primarily driving the market
- Advanced packaging technologies such as vacuum packaging and modified atmospheric packaging are generating growth opportunities
- Advanced storage methodologies for long-distance transport of packaged cheese products are bolstering market growth
Cheese Packaging Market - Key Restraints
- High price of raw materials continues to negatively influence supply chain and restraining the market growth
Competition Landscape of Cheese Packaging Market
Some of the prominent players in the global cheese packaging landscape that are covered in this study include, but are not limited to, Winpak Ltd., Beery Global Inc., Sonoco Products Company, Kendall Packaging Corporation, Portco Packaging, Synpac Limited and Safepack industries Ltd. Manufacturers are investing in specialty packaging capable of providing protection against food spoiling agents such as moisture, air and microbial activity. Owing to increasing demand for safe and small packaging, market players are making investments in developing variety of flexible and aseptic packaging.
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More about the Report
This Future Market Insights study of 244 pages offers actionable insights on cheese packaging market. The market analysis is based on packaging format (boxes, cups, pouches, trays and flow wraps, containers and lids & foil), material (plastic, paper, aluminum and glass) and distribution channel (e-commerce, retail stores, convenience stores and hypermarkets) across seven regions (Europe, East Asia, South Asia, Oceania, North America, Latin America, MEA and Europe).
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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Market Report: https://www.futuremarketinsights.com/reports/cheese-packaging-market
Press Release Source: https://www.futuremarketinsights.com/press-release/cheese-packaging-market
Packaging White Paper | February 2020
SOURCE: Future Market Insights
View source version on accesswire.com:
https://www.accesswire.com/577140/Demand-for-Cheese-Packaging-to-Account-for-over-US-5-Bn-through-2029-Plastics-Are-Still-Preferred-Finds-Future-Market-Insights-in-a-New-Study
