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Report Overview
The global punnet market size reached around USD 1849.37 Million in 2023. The market is projected to expand at a CAGR of 6.80% between 2024 and 2032 to reach nearly USD 3343.22 Million by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- As per industry reports, 82% of consumers are willing to pay premium prices for sustainably packaged products.
- Consumption of 400 grams of fruits and vegetables each day can significantly reduce the risk of developing chronic diseases.
- The introduction of customised meal kits to meet North Americans’ personal nutrition requirements (59%) is expected to increase the punnet market revenue in the forecast period.
Global Punnet Market Growth
As per a report published by the Organisation for Economic Co-operation and Development in January 2024, fruit consumption has been rising steadily across many European countries due to increasing consumer awareness of its health benefits. In the United Kingdom and Ireland, around 33% of adults consume five portions of fruits daily, followed by the Netherlands (30%), France (20%), and Germany (11%), among others. Moreover, vegetable consumption has also remained favourable, with a substantial portion of the population in Belgium (76%), Ireland (75%), Sweden (66%), and Norway (67%) consuming at least one portion of vegetables daily. Overall, fruit and vegetable consumption has surged to 12.4% in 2019 and is expected to increase, especially due to the emergence of various digital subscription channels. This is expected to fuel the punnet market development over the forecast period.
The total sales of ready-to-eat meals by Archer Daniels Midland Company rose to USD 16.4 billion in 2022, recording a year-on-year growth of 10.6%. Over two-thirds of all consumers using ready-to-eat meals prefer paying a premium price for high-quality food products. In recent times, the shift towards portion control habits has also prompted companies to launch sustainably packaged meals with less than 700 calories. This is expected to influence the punnet market dynamics favourably over the forecast period.
Compound Annual Growth Rate
Value in USD Million
6.8%
2024-2032
Punnet Market Outlook
*this image is indicative*
Key Trends and Developments
The growth of rapid grocery delivery services in the UK; the shift towards sustainability; the growing demand for horticultural products; and the increasing consumer preference for convenience are the major factors favouring the punnet market growth
Growth of rapid grocery delivery services in the UK
As per the industrial analysis, the overall sales achieved by rapid delivery services in the UK are expected to triple to 1.7 billion pounds by 2030 from 4.4 billion pounds in 2023. Punnets play an essential role in packaging ready-to-eat produce, fresh items, and takeaway products.
Shift towards sustainability
Many food packaging companies are using recyclable PET to manufacture punnets, thereby reducing the harmful ecological impact caused by plastics. This is favourably influencing the punnet market value.
Growing demand for horticultural products
Punnets preserve the freshness of horticultural products and prevent them from spoilage. Moreover, they also extend product shelf life, which is expected to support the market growth.
Increasing consumer preference for convenience
Punnets are a safe and reliable mode of transportation for fresh fruits and vegetables, including berries, mushrooms, and grapes. They also facilitate product labelling, as a part of an organisation’s efforts to build brand awareness.
Global Punnet Market Trends
In the United Kingdom, around 31% of all consumers purchase one takeaway meal weekly. As per the market analysis, takeaway meals are especially popular in London (58%), where 38% of all consumers aged 18-24 years consume takeaways 2-3 times weekly. An average British family spends over GBP 60 on purchasing family treats, and 41% of consumers have a favourite restaurant they order from. This is expected to propel the punnet market development, as these packaging containers are extensively used for ease of handling of food products like fries, burgers, and chips.
Global Punnet Industry Segmentation
The EMR’s report titled “Global Punnet Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Breakup by Material
- Plastic
- Paper
- Moulded Fibre
Breakup by Capacity
- Up to 150 gm
- 151-300 gm
- 301-500 gm
- Above 500 gm
Breakup by Application
- Fruits and Vegetables
- Meat, Poultry, and Seafood
- Frozen Food
- Ready-to-Eat
Breakup by End Use
- Retail Outlets
- Hotels
- Restaurants
- Cafes
- Household
Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Punnet Market Share
Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2024-32, the market for punnets in the Asia Pacific is estimated to grow at a CAGR of 7.9% due to the growth of fresh meal kit delivery services. Moreover, the punnet market expansion is expected to be driven by the shift towards sustainability and the growing demand for horticultural products in the region.
Leading Companies in the Global Punnet Market
Major players are switching towards using paper and cardboard for packaging fruits and vegetables, which is boosting the punnet market revenue.
Smurfit Kappa Group
Smurfit Kappa Group was founded in 1934 and is headquartered in Dublin, Ireland. It is a global leader in manufacturing paper-based manufacturing solutions, with a presence in around 40 countries.
Coveris Management GmbH
Coveris Management GmbH was founded in 2013 and is headquartered in Vienna, Austria. It specialises in manufac...
PACCOR Packaging GmbH
PACCOR Packaging GmbH was formed in 1991 and is headquartered in Dusseldorf, Germany. It is engaged in manufac...
RAPTIS PAX
RAPTIS PAX was founded in 1985 and is headquartered in Queensland, Australia. It specialises in manufacturing ...
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other players included in the punnet market report are LC Packaging International BV, Groupe Guillin SA, Royal Interpack Group, ILIP S.r.l., INFIA srl, and Leeways Packaging Services Ltd., among others.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 1849.37 Million.
The market is projected to grow at a CAGR of 6.80% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 3343.22 Million by 2032.
The different regions considered in the market report include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The different materials used for manufacturing punnets include plastic, paper, and moulded fibre.
The different applications of punnets are fruits and vegetables, meat, poultry, and seafood, frozen food, and ready-to-eat.
The different end uses of punnets include retail outlets, hotels, restaurants, cafes, and household.
Key players in the market are Smurfit Kappa Group, LC Packaging International BV, Coveris Management GmbH, PACCOR Packaging GmbH, RAPTIS PAX, Groupe Guillin SA, Royal Interpack Group, ILIP S.r.l., INFIA srl, and Leeways Packaging Services Ltd., among others.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Material |
|
| Breakup by Capacity |
|
| Breakup by Application |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124