Global Microwave Packaging Market Report and Forecast 2024-2032

Global Microwave Packaging Market Outlook

The global microwave packaging market is expected to grow at a CAGR of 7.50% between 2024 and 2032. The market is being driven by the rising demand for convenience foods, frozen foods, and microwavable meals.

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Key Trends in the Market

Microwave packaging refers to a type of packaging which enables the process of reheating quickly and easily and without needing to transfer the food into another container. This type of packaging involves containers and packaging materials compatible with a microwave. Depending upon the food type, consistency, and volume, the type of microwave packaging most suitable can vary. 

• The microwave packaging market is being driven by the thriving food and beverage sector, rising population, inflating disposable income, and increasing demand for high-quality microwavable food products. Over the forecast period, the anticipated increase in sale of microwaves across households is expected to fuel the demand for microwave packaging.

• Robust growth of supermarkets/hypermarkets across the emerging economies is improving the accessibility of popular microwavable meat, seafood, and veggies, leading to an escalation in the market growth. The thriving e-commerce sector is expected to offer lucrative opportunities to the market by propelling the sale of microwavable containers, food storages, multipurpose glass storage, and safe round containers, among other packaging products.

• Microwavable foods are convenient, easy to heat, and economical. In this regard, the increasing awareness about these benefits offered by microwavable foods is further bolstering the microwave packaging market dynamics. Technological advancements in microwaves, which include the incorporation of Wi-Fi, smartphone connectivity, and Bluetooth, enable heating schedule and adjustment of power levels, are further improving the microwaving experience of the consumers.

Market Analysis

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Based on material, the market is segmented into plastics, and papers, among others. On the basis of product, the market is classified into trays, folding cartons, and cups, tubs, and bowls, among others. By application, the market is segmented into fresh prepared foods, frozen foods, and shelf stable meals, among others. The regional markets for microwave packaging are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global microwave packaging market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Westrock Company

• Inline Packaging

• Amcor Plc

• Graphic Packaging Holding Company

• Packaging Concepts Inc.

• Others

Market Share by Application

Based on application, the frozen foods segment accounts for a significant share in the microwave packaging market. Frozen food are usually pre-prepared, high quality, and flexible which is why these products are gaining traction among students, teens, and working adults. In addition, the increasing transition towards convenient and nutritional foods with high shelf life, is fuelling the demand for frozen sea food, frozen veggies, and frozen meat, among others.

Meanwhile, the shelf stable meals segment is expected to witness a heightened growth in the forecast period due to the increasing demand from across the commercial sector. Shelf stable meals such as fried rice, tuna noodle, oatmeal, salmon patties, and pasta, among others, are highly demanded which are adding to the microwave packaging market growth.

Market Share by Region

At a regional level, North America holds a significant share in the microwave packaging market which is being propelled by the growing demand for ready-to-eat microwavable food products. The widespread consumption of frozen foods in countries like the United States, growing preference for meal planning, and presence of microwaves in most homes are resulting in an increased demand for microwave packaging.

Meanwhile, Asia Pacific accounts for a growing share in the market majorly due to increasing penetration of microwaves across countries in the region, surging the demand for microwave packaging. An increasing working population and independent living is resulting in a heightened demand for foods that can be prepared conveniently and quickly, for which microwaves are a popular preference. Expansion of the frozen market is further leading to an increase in food items that can be prepared directly by microwaving.

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Competitive Landscape

Westrock Company is a leading packaging company which specialises in the manufacturing of folding paperboard boxes. The fibre-based packaging products produced by Westrock Company cater to the diverse demands of the food and beverage sector. The company was founded in 2015 and is currently headquartered in Georgia in the United States.

Inline Packaging was established in 1997 with headquarters in Minnesota in the United States. The company is a leader in microwave performance packaging which specialises in laminations that are used for foods to be browned or crisped in microwaves. Its packaging is utilised for trays, cartons, tubs, bags, and wraps, featuring the company’s active susceptor packaging technology.

Amcor Plc is a leading packaging company with headquarters in Victoria, Australia which manufactures flexible packaging, rigid containers, cartons, and microwavable packaging solutions, among others. Founded in 1896, the packaging services and solutions offered by this company cater to the demands of sectors such as food and beverage, pharmaceutical, medical-device, and home and personal care, among others.

Other market players include Graphic Packaging Holding Company, and Packaging Concepts Inc., among others.

Key Highlights of the Report