Market Overview
The Global Meat, Poultry, Seafood Packaging market is projected to grow at a CAGR of 4.50% in the forecast period. It is evaluated that the market will grow up to USD 51,144.1 million by the year 2025. The market is expected to expand in the future because several companies are emerging. The modern lifestyle of the people is one of the primary factors for the development of the food packaging market. At the same time, other factors such as easy transportation and storage are major reasons that increased the value of the global meat, poultry, and seafood packaging market.
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The Meat, Poultry, Seafood Packaging Industry will have significant growth because of the rising demand for healthy, safe, and hygienic products. Also, the preferences of customers for convenience that can cope with their busy lifestyle are beneficial. The packaging of non-veg items like meat, poultry, and seafood is specially designed to efficiently store and preserve the texture for a long time. Other than that, the packaging boxes of those items also increase the brand value and help to promote the company directly to the customers. The initiatives by the government and massive demand for disposable packaging and preservation of items on a small scale are also beneficial for the market.
In the future years, the global Meat, Poultry, Seafood Packaging Market Size will have a significant value. The rising demand for easy maintenance, security of the food, and prevent spillage of food will fuel the market growth. However, there are several factors like the availability of fresh meat that can hamper the market growth to a certain extent. With the rising demands of disposable packaging for office and retail purposes, many manufacturers are trying to increase their business. Packaging of meat, poultry, and seafood also helps the companies to export and import items and expand their business overseas.
Major Key Players:
SEALED AIR CORPORATION (US), AEP Industries Inc., Amcor Ltd (Australia), Smurfit Kappa Group, Tri-Mach Group Inc., Orora Packaging Australia Pty Ltd, Cambridge Packing Company, Berry Global Group Inc (US), Bemis Company Inc., Smurfit Kappa Group PLC (Ireland), DuPont (EI) de Nemours, Visy Industries Holdings Pty Ltd, Printpack, Inc., Cascades Inc (Canada), and ABBE CORRUGATED PTY. LTD.
Segmentation
The global meat, poultry, seafood packaging market share is divided into four segments- Raw material, application, product, and technology. The segment of raw material is divided into three segments metal, paper, and plastic. On the basis of application, the market of meat, poultry, and seafood packaging is classified into processed food, frozen, ready to eat, and fresh. The technology segment is further bifurcated into modified atmosphere packaging, intelligent and active packaging, retort packaging, and case-ready packaging. Also, the product segment is categorized into rigid packaging and flexible packaging. It is evaluated that flexible packaging will have the largest share due to the easy handle feature.
Regional overview
Geographically, the meat, poultry, seafood packaging market trends are segmented into- North America, Latin America, Asia-Pacific, Europe, and the Middle East and Africa. It is projected that North American will hold the largest market share during the forecast period. Adherence towards using quality films for ready-to-eat packages and consumer convenience is a vital reason. However, the Asia-Pacific region is expected to hold the second position in the market. Countries like India and China have huge contributions to market growth. The rising demand for disposable packaging in the Asia-Pacific countries is anticipated to fuel the market. Supportive governmental policies are also important factors in the other regions such as Europe and the Middle East, and Africa.
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Industry News
Due to rising concerns for safe and efficient packaging and strict laws by the government, the food packaging industry has observed a mounting trend. The constant improvement in technology and the increasing population is also a major factor that is propelling the market growth. The outbreak of Coronavirus has severely impacted various sectors of industries. Due to fear of contamination, people chose to neglect eating meat which has hindered the Meat, Poultry, Seafood Packaging Market Growth.
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