Produce Packaging Market to Reach $53.8 Billion, Globally, by 2031 at 4.1% CAGR: Allied Market Research
PORTLAND, Ore., Feb. 9, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Produce Packaging Market by Material (Plastic, Paper and Paperboard, Others), by Packaging Type (Corrugated Boxes, Bags and Liners, Plastic Containers, Trays, Others), by Application (Fruits, Vegetables): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global produce packaging industry generated $35.6 billion in 2021, and is anticipated to generate $53.8 billion by 2031, witnessing a CAGR of 4.1% from 2022 to 2031.
- The outbreak of the Covid-19 pandemic had a negative impact on the global produce packaging market, owing to implementation of the global lockdown.
- Various manufacturers in the produce packaging market had to stop their business in countries such as China, the U.S., and India.
- Based on packaging type, the corrugated boxes segment held the highest market share in 2021, accounting for around one-fourth of the global produce packaging market.
- This is due to the rise in the usability of produce packaging for fresh produce to protectthem from external elements and premature spoilage.