Rockville, Dec. 15, 2022 (GLOBE NEWSWIRE) -- In its latest report, Fact.MR presents an in-depth analysis of the various factors such as drivers, opportunities, constraints, and trends impacting the fibrous casings market. It also delves deeper into key observations on key expansion parameters common in key segments such as product, application, sales channel and regions.
The fibrous casing market is expected to surpass the valuation of US$ 5.7 Billion by the end of 2033. Growth in the market is poised to expand at 5% CAGR during the forecast period (2023-2033). Demand in the market is predicted to surge on the back of rising application in food industry for the filling & making of sausage and salami.
As per the study, the demand for clear casings is expected to grow at a rapid pace due to the various benefits and functionalities. Clear casings are extremely well-fitted and are employed to package food such as luncheon meat, sausage, and salamis. They have superior shape which keeps the meat from collapsing, propelling the adoption among end users.
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The fibrous casing is cellulosic and lined with natural long-fiber abaca paper or Manila hemp fibers, ideally shaped for sausage casings, combining very high durability with consistent extrusion properties. It is resistant to hard fillings and is ideal for hard fillings of finely ground sausages and emulsified sausages.
Compared to rural consumers, urban customers have more choices and easier access to sausages. In addition to this, penetration of online platforms and availability of these casings on e-commerce websites such as e-Bay and Amazon is expected to improve the demand for theseproducts.
Key Takeaways:
- North America is expected to hold significant share in the worldwide fibrous casing market due to its well-established food & beverage sector.
- The U.S. is expected to lead the growth in North America fibrous casings market on the back of wide availability of these products through online sales channels.
- South Korea and Japan are expected to be the most remunerative countries for the fibrous casings manufacturers.
- In terms of application, the sausage and salami segment is expected to account for half of the share in the market.
- Based on sales channel, the online segment will witness robust growth over the assessment period
Growth Drivers:
- The use of fibrous casings is expected to grow significantly due to increased sausage and salami production in the food industry.
- Growing demand for new cooking options and amplified automation in the sausage industry will contribute to the growing popularity of fibrous casings.
- The availability and cost-effectiveness of the online shopping platforms will drive the sales of clear casings.
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Competitive Landscape:
Leading fibrous casing manufacturers are focusing on developing products adhering to the clean label trend in the industry to improve their sales. They are also collaborating with end users and online retailers to expand their customer base.
Meanwhile, other players are investing in developing casings with naturally sourced materials to gain competitive edge in the industry. Fact.MR estimates, aspiring start-ups are likely to collaborate with leading players and end users to explore the untapped potential in the industry.
For instance,
- In 2021, Lake Pacific Partners, a private equity fund announced the acquisition of Devro-Teepak, Inc. a cellulose and fibrous food casing business. The newly created company has been named Teepak, LLC, and is headquartered in Illinois..
Key Companies Profiled by Fact.MR
- Viskase
- ViskoTeepak
- Walsroder
- Wiberg
- Viscofan
- Futamura Chemical
- Ahlstrom-Munksjo
- Global Casing
- Selo
- Kalle
More Valuable Insights on Fibrous Casings Market
In its latest research, Fact.MR reveals key aspects expected to lift the growth of the global fibrous casings market over the forecast period (2023-2033). The study also delivers an in-depth analysis of the opportunities and drivers expected to boost sales of fibrous casings through thorough segmentation as follows:
- By Product:
- Clear Casings
- Mahogany Casings
- Red Casings
- Specialty Casings
- By Application:
- Sausages & Salami
- Pepperoni
- Luncheon Meats
- Other Food Products
- By Sales Channel:
- Direct Sales
- Modern Trade
- Specialty Stores
- Online Retail Stores
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Questions Covered in the Fibrous Casings Market Report
- What will be the demand outlook for the fibrous casings market during the forecast period?
- Which are the challenges faced in the fibrous casings market?
- Which region will lead the growth in the fibrous casings market during 2023-2033?
- What is the projected market valuation of the fibrous casings market in 2033?
- Which are the factors driving the fibrous casings market during 2023-2033?
Further, production and consumption of meat and sausage products have increased significantly over the past decade. As an outcome, the demand for fibrous casings is unswervingly impacted, driving the development of the artificial sausage casings market.
Subsequently, rising consumption of frozen meat products and technological advancements in the production process is another factor bolstering the growth in the market. However, surging fad for veganism and rising preference for plant-based products is expected to limit the sales in the market.
Fact.MR opines, despite the shortcomings, aspiring start-ups are focusing on collaboration and new technologies to cater to the demand for meat products, targeting countries such as the U.S., Korea, and Germany. This is expected to fuel the demand in the fibrous casings market over the upcoming decade.
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