The European fresh food packaging market is buyer-oriented, as the fresh food packaging market is mostly driven by the emergence of eco-friendly packaging technologies, which are inexpensive and manufactured from recycled material, finds a report by MarketsandMarkets.
These eco-friendly technologies have played a vital role in helping companies achieve sustainability.
The European fresh food packaging market is projected to reach US$10,578.6 million by 2020, with a compound annual growth rate of 2.13% from 2015 to 2020.
After the economic slowdown, new packaging mechanisms have come up in large numbers.
The European fresh food packaging market has been growing in accordance with the packaging industry.
With increasing awareness about global warming and concerns about the environment, people are opting for eco-friendly techniques of fresh food packaging, which has had an impact on the market for European fresh food packaging products.
Increasing disposable incomes of people in European countries, more demand for convenience food, and awareness of packaged food among consumers drive the growth of the European fresh food packaging market.
The European fresh food market is marked with intense competition due to the presence of a large number of both, big and small firms.
New product launches, mergers and acquisitions, as well as partnerships and expansions are the key strategies adopted by market players to ensure their growth in the market.