Research Nester published a report titled “Meat Packaging Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global meat packaging market in terms of market segmentation by material, packaging technology, meat type, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global meat packaging market is expected to garner a significant amount of revenue by growing at a moderate CAGR over the forecast period, i.e., 2021 – 2029, owing to the rising consumption of meats, mainly pork and beef, growing demand for attractive meat packaging and the improvement in storage units and transportation for frozen foods. The Food and Agriculture Organization of the United States (FAO) states that the worldwide meat consumption per capita is estimated to increase to 35.4 kg r.w.e by 2027.
The market is segmented by material, packaging technology, and meat type. By material the market is bifurcated into plastic and metal segments, out of which the plastic segment is projected to occupy the largest share in the meat packaging market over the forecast period on the back of preservation qualities of plastic films such as ability to keep meat and other perishable products fresh for longer time. Based on packaging technology, the segment for modified atmosphere packaging is evaluated to grow at the highest rate in the future accounting to the longer shelf life and improved freshness of products packaged by this technique.
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Geographically, the market is segmented into five regions, including, North America, Europe, Latin America, Asia Pacific and the Middle East and Africa. Amongst these, the market in Asia Pacific is expected to witness a noteworthy growth during the forecast period as a result of rapid industrialization, increasing disposable income of the population, and rising demand for processed meat in the region, especially in Korea and China.
Increase in Demand for Improved Packaging for Meats to Fuel Market Growth
As the concerns regarding sustainable development and reduction of carbon footprint are gaining momentum since the last few years, there is a high demand for packaging solutions that reduce raw material consumption and minimize wastage. This is boosting the production of flexible packaging that is recyclable and enhances the appearance of products as well, therefore driving growth of the market in the coming years.
However, increasing cost of fresh meat products and shifting consumer preference towards vegan food are expected to operate as key restraints to the growth of meat packaging market over the forecast period.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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This report also provides the existing competitive scenario of some of the key players of the global meat packaging market which includes company profiling of Berry Global Inc., Sealed Air Corporation (NYSE: SEE), Smurfit Kappa Group (LON: SKG), Amcor Group GmbH (NYSE: AMCR), Crown Holdings, Inc. (NYSE: CCK), Tetra Pak Group, Toyo Seikan Group Holdings, Ltd. (TYO: 5901), Silgan Holdings Inc. (NASDAQ: SLGN), Reynolds Group Ltd., WINPAK LTD. (TSE: WPK), and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the meat packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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