Ice Cream Packaging Market is driven by increasing demand for...

Ice Cream Packaging Market is driven by increasing demand for on-the-go consumption

Postado 2024-08-08 13:02:54

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Global ice cream packaging market was valued at US$ 820.9 Mn in 2022, exhibiting CAGR of 4.0% from 2023-2030. Market is likely to reach US$ 1,123.46 Mn by the end of 2030

Key Takeaways

Key players operating in the ice cream packaging market are Sonoco Products Company, Amcor Plc, International Paper Company, Sealed Air Corp., Huhtamaki Oyj, Amcor Plc , Linpac Group Ltd., Ampac Holdings LLC, INDEVCO Group, Tetra Laval, Berry Global, Stora Enso, and SIG. These players are focusing on new product launches, mergers & acquisitions and expansions to gain a competitive edge in the market.

The Ice Cream Packaging Market Demand is expected to grow considerably over the forecast period driven by increasing consumption of frozen desserts and ice cream among millennial consumers who prefer small pack sizes and on-the-go consumption. Rapid urbanization and rising disposable incomes in developing nations are also fueling the demand for premium and healthier ice cream varieties packaged in innovative types of packaging.

Key players are also expanding their production facilities and operations globally especially in Asia Pacific and Latin America to tap the enormous market potential. Countries like China, India and Brazil offer lucrative growth opportunities owing to changing lifestyles, westernization and increasing expenditure on food and beverages.

Market Drivers
The growing demand for on-the-go consumption of ice cream is a major driver for the ice cream packaging market. Rising urbanization and busy lifestyles have increased the demand for convenient and portable packaging of ice creams that can be consumed anywhere and anytime. Cups, tubs, and other single-serve packaging have gained widespread popularity as they allows consumers to enjoy ice creams while traveling or commuting without any mess. The affordability and portion control offered by these packages also encourage impulse buying and consumption. Thus, the demand for on-the-go and indulgent ice cream experiences is propelling the ice cream packaging market growth.

The current geopolitical instability across several regions is posing challenges for the growth of the global ice cream packaging market. The ongoing Russia-Ukraine war has significantly disrupted the supply chains and import-export activities across Eastern Europe. This is negatively impacting the availability of raw materials and finished products for ice cream manufacturers in the region. At the same time, economic sanctions on Russia are reducing the potential customer base in the country. Meanwhile, the lingering effects of the Covid-19 pandemic like manufacturing shutdowns, project delays, and supply chain issues are still hampering production and distribution capabilities to some extent across key markets. All these factors collectively are restricting the market expansion to a degree.

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