Global Ice Cream Packaging Market was valued at US$ 820.9 million in 2022. According to Global Ice Cream Packaging Market Report, By Packaging Type (Cup, Tub, Stick Packs, Folding Carton, and Others), By Distribution Channel (Supermarket/Hypermarket, Convenience Stores, Ice Cream Parlors, Online Stores, and Others), and By Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) as published by Coherent Market Insights.
Global ice cream packaging market is expected to reach at US$ 1,123.46 million by 2030 and is expected to exhibit a CAGR of 4.0% during the forecast period (2023-2030). Changing lifestyle, growing disposable income, and surging awareness about benefits associated with packaging are expected to drive the global ice cream packaging market growth over forecast period. Global ice cream packaging industry is an enormous economic generator. Increasing consumer trends and industry trends for packaging can drive the market growth. Thus, rapidly expanding packaging industry is expected to boost the global ice cream packaging market growth.
Ice creams consumers prefer supermarkets and hypermarkets for purchasing ice cream. Organized retail stores are a part of large retail chains that has huge presence in the global market. Growing organized retail chain is expected to boost demand for ice creams, and thus, drives the market growth.
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https://www.coherentmarketinsights.com/market-insight/ice-cream-packaging-market-4818
Browse 25 market data tables* and 20 figures* on "Global Ice Cream Packaging Market”- Global Forecast to 2030.
Key Trends and Analysis of the Global Ice Cream Packaging Market:
- Among region, Asia Pacific accounted for a significant market share of 35.8% in 2022, due to exponential population growth with growing disposable income in China, India, Japan, and South Asian countries. Ice creams are widely sold through several retail chains including supermarkets, and convenience stores among others. Presence of well-established retail sectors y in China, India, Japan, Vietnam, Australia, and Singapore, among others, is expected to drive demand for ice cream, and thus, drives the market growth.
Key Takeaways of the Market:
- Among distribution channel, supermarket/hypermarket segment held significant revenue share of 7% in the global ice cream packaging market in 2022, owing to growing number of supermarkets/hypermarkets across the globe. For instance, Walmart is expected to launch more than 11,000 stores worldwide, and Amazon is expected to launch more than 3,000 online stores by 2021, and this will drive the icecream packaging market growth
- Major players operating in the global ice cream packaging market include Sonoco Products Company, 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.
- Key players operating in the global ice cream packaging market are focusing on adoption of various growth strategies in order to expand their business operations and regional presence. For instance, on May 31, 2021, International Paper Company completed the sale of its ownership interest in Olmuksan International Paper to Mondi Group. Olmuksan business includes five corrugated packaging plants with three hundred thousand tons of annual converting capacity.
Global Ice Cream Packaging Market- Impact of Coronavirus (COVID-19) Pandemic
- Global ice cream packaging market has been negatively impacted by COVID-19 pandemic, owing to lockdown, travel restrictions, and shutting down of manufacturing facilities. Moreover, unavailability of raw material that is required for manufacturing ice cream packaging hampered demand for ice cream during Covid-19. However, resuming of international trade and ease of trade restrictions is expected to drive demand for ice cream packaging in the near future. Moreover, due to less restrictions and reopening of manufacturing facilities is expected to boost demand for ice cream packaging over the post-pandemic period.
- Key players operating in the global ice cream packaging market are tier I and tier II players. These players have their manufacturing and distribution facilities across various regions such as Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. Governments of various countries across the globe have enforced lockdown to curb the spread of the disease. This resulted in the slowdown and halt in manufacturing operations, restrictions on supply of materials and transportation, and infrastructure slowdown. Thus, this led to a decline in demand for ice creams across the globe, and hampered the market growth.
