Pune, India, June 21, 2023 (GLOBE NEWSWIRE) -- The global seafood packaging market size was valued at USD 16.66 billion in 2022 and is projected to grow from USD 17.41 billion in 2023 to USD 24.69 billion by 2030, exhibiting a CAGR of 5.12% during the forecast period.
The increasing demand for semi-processed pre-packed refrigerated options is expected to boost the market demand. Increasing customer understanding of the consumption of fresh seafood that meets safety requirements will likely create advancements to develop new packaging solutions for fresh seafood. Hence, the seafood packaging market growth is anticipated to escalate during the projected period. Fortune Business Insights presents this information in its report titled "Seafood Packaging Market, 2023-2030."
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List of Key Players Profiled in the Seafood Packaging Market Report:
- Amcor plc (Australia)
- Crown Packaging (U.S.)
- Sealed Air (U.S.)
- WINPAK LTD. (Canada)
- Smurfit Kappa (Ireland)
- DS Smith (UK)
- Silgan Holdings Inc. (U.S.)
- SIRANE GROUP (U.K.)
- Printpack (U.S.)
- FFP Packaging Ltd. (U.K.)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 5.12 % |
| 2030 Value Projection | USD 24.69 billion |
| Market Size in 2023 | USD 17.41 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 240 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Seafood Packaging Market Growth Drivers | Shrink Films Dominates the Largest Share Due to their High Usage of Seafood Products |
| Unique Techniques in Packaging Technologies to Drive the Market |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/seafood-packaging-market-103399
Segmentation:
Plastic to Hold the Biggest Share Owing to the Subsequent Benefits Extended by the Material
The seafood packaging market is divided into paper, plastic, and metal based on the material. The extraordinary properties of plastic, impermeable to water vapors, moisture, fluids, air, and other contaminants, are expected to drive the demand for plastic packaging and are anticipated to continue its dominance during the projected period.
Shrink Films Dominates the Largest Share Due to their High Usage of Seafood Products
On the basis of product type, the market is segregated into bags & pouches, boxes, trays, cans, and shrink films. Shrink films dominate the segment of the global seafood packaging market. The films used to wrap the seafood further run through a heat tunnel to shrink and conform the content inside.
Atmosphere Packaging dominates Segment due to its Potential benefits for Seafood Products
According to packaging technology, the market is divided into vacuum skin packaging, MAP, and others. MAP dominates the packaging technology segment globally. Atmosphere Packaging is the most used process to pack seafood.
Fresh & Frozen to Hold Largest Share Due to High Consumption among Consumers
As per the application, the seafood packaging market industry is bifurcated into fresh & frozen and processed. Fresh & frozen seafood accounted for the key market share owing to the high demand for raw fish and other seafood globally.
Fish Segment to Dominate Market as Major Revenue Generating Segment Owing to the Health Benefits
The seafood packaging market is divided into molluscs, fish, crustaceans, and others based on the seafood type. Rising demand for raw fish and processes from applications like hotels, processed food manufacturing companies, food processing, animal feed, and others.
COVID-19 Impact:
Seafood Industry Faced Major Impact Owing to COVID-19 Pandemic
The demand for seafood decreased due to the outbreak of COVID-19. It is suspected that the novel coronavirus appeared a year ago in the market of seafood and wildlife in the central Chinese town of Wuhan. The virus's spread risk has impacted seafood packaging and hindered the market's growth. Therefore, the seafood packaging market share is projected to decline during the pandemic.
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Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the seafood packaging market players.
- Latest industry developments such as product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints:
Unique Techniques in Packaging Technologies to Drive the Market
Demand for shelf life and high-quality food items with better consistency is multiplying. Fish is the main food supply to humans. Fish is the primary or only source of animal protein in many developed countries and is crucial for supplying micronutrients to vulnerable populations.
Regional Insights:
Asia Pacific to Hold Maximum Share to Drive the Market Growth
Asia Pacific dominates the most significant share in terms of consumption of seafood as well as production. Factors include high seafood production from Korea, Malaysia, Japan, India, Sri Lanka, and other countries with huge coastlines and demand from East & Southeast Asian countries.
In North America, the demand for seafood packaging is increasing owing to the high demand for canned seafood. Factors responsible for the increase in the demand for canned fish products are rising disposable income, increasing working women, and others.
Competitive Landscape:
Innovative Launch Operations by Key Players to Boost Market Growth
Players in the market have launched new techniques in the market to boost the seafood packaging market growth with their solutions and to elevate the competition in the market. It includes the launching of new patterns, such as investments, and the launch of new and advanced products in the market. Companies have been applying new plans, such as partnerships and mergers, to support their position in the market.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porters Five Forces Analysis
- Impact of COVID-19 on the Seafood Packaging Market
- Global Seafood Packaging Market Analysis (USD Billion), Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Material
- Plastic
- Paper
- Metal
- Others
- Market Analysis, Insights and Forecast – By Product Type
- Trays
- Bags & Pouches
- Cans
- Boxes
- Shrink Films
- Others
- Market Analysis, Insights and Forecast – By Packaging Technology
- MAP
- Vacuum Skin Packaging
- Others
- Market Analysis, Insights and Forecast – By Application
- Fresh & Frozen
- Processed
- Market Analysis, Insights and Forecast – By Seafood Type
- Fish
- Molluscs
- Crustaceans
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued...!
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Key Industry Development:
- August 2022: Iceland declared the partnership with Parkside to replace the LDPE bag for the company's product portfolio of frozen seafood with a recyclable paper pouch. The pouch further breaks down during re-pulping.
Read Related Insights:
With 5.1% CAGR, Food Packaging Market to Worth USD 478.18 Billion by 2028 | Fortune Business Insights™
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