SEATTLE, April 01, 2020 (GLOBE NEWSWIRE) -- The global fresh meat packaging market was pegged at around US$ 2.0 billion, in terms of revenue in 2018 and is expected to exhibit a CAGR of 2.2% over the forecast period (2019-2027).
Key Trends and Analysis of the Global Fresh Meat Packaging Market:
The global fresh meat packaging market has witnessed rapid growth in terms of revenue in the past few years owing to the rising consumption of meat-based food products across the globe. In addition to this, surge in demand for packaging for fresh meat from the food & beverage industry is fuelling growth of the global fresh meat packaging market.
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Key Market Takeaways:
- The global fresh meat packaging market is expected to exhibit a CAGR of 2.2% over the forecast period (2019-2027). Among regions, the market in Asia Pacific has witnessed a surge in growth in the recent past owing to rising preference for different types of meat products such as beef, pork, seafood, and others. Furthermore, rapid growth of the food processing industry in Asia Pacific is propelled the growth of the global fresh meat packaging market. For instance, according to the Department of Industrial Policies and Promotion (DIPP), India’s food processing sector received Foreign Direct Investment (FDI) worth US$ 7.5 billion during the period 2000 to 2017. Such factors are expected to facilitate demand for fresh meat packaging in the region during the forecast period.
- Manufacturers of fresh meat packaging are focused on using materials that are environmentally friendly and recyclable for production of packaging products due to rising awareness regarding the harmful effects of plastic-based packaging waste. Moreover, companies operating in the food & beverage industry face challenges such as increasing the shelf-life of packaged fresh meat products and keeping the flavor and aroma of these products intact. This is owing to the growth of the supply chain across the globe. These factors are expected to favor the growth of this market during the period.
- Furthermore, several key companies are focused on developing and launching new products in order to expand their product portfolio. For instance, in March 2020, Aptar Food + Beverage, a subsidiary of AptarGroup, Inc., a company involved in manufacturing of active packaging products and processing equipment for various food products such as fresh-cut fruits, meat products, seafood and others, launched InvisiShield. This technology is an anti-pathogenic packaging product which extends the shelf-life of packaged freshly cut produce and food products by protecting them from harmful pathogens such as bacteria, fungi, and viruses.
- Leading companies involved in the production and distribution of fresh meat packaging are focusing on strategies such as expansions of production lines owing to the rapidly growing demand for fresh meat packaging in the past few years. For instance, in January 2020, Pactiv Corporation, a U.S. based food packaging manufacturer and distributor, invested US$ 8 million in the expansion of its current facility in North Carolina, U.S.
Major players operating in the global fresh meat packaging market are—
Amcor Limited, E.I. du Pont de Nemours & Co, Bemis Company, Inc., Berry Plastic Group, Winpack Ltd., Sealed Air Corp., Crown Holdings, Reynolds Group, Coveris Holdings S.A., and Sealpac International BV.
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Market Segmentations:
- Global Fresh Meat Packaging Market, By Material Type:
- Polyethylene (PE)
- Polypropylene (PP)
- Biaxially-oriented polypropylene (BOPP)
- Ethylene vinyl alcohol (EVOH)
- polyvinyl chloride (PVC)
- Polyamide (PA)
- Others
- Global Fresh Meat Packaging Market, By Packaging Technology:
- Modified Atmosphere Packaging
- Vacuum Skin Packaging
- Vacuum Thermoformed Packaging
- Others
- Global Fresh Meat Packaging Market, By Meat Type:
- Beef
- Pork
- Poultry
- Seafood
- Others
- Global Fresh Meat Packaging Market, By Geography:
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Italy
- France
- Spain
- Nordic
- Benelux
- Russia
- Poland
- Rest of Europe
- Asia Pacific
- China
- India
- ASEAN
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
- North America