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With rise in requirement for various types of packaging for meat such as beef, pork, poultry, and seafood, the global industry is set to ascend at a steady CAGR over the coming years.
The latest report by an ESOMAR-certified market research and consulting firm provides a detailed analysis of the industry along with demand-supply curve, growth & restraining factors, and regional trends for the forecast period of 2021 to 2031. As stated in the report, North America and Europe will emerge as leading players, while the market in Asia Pacific will exhibit the fastest growth throughout the forecast period.
Key Takeaways from Market Study
- High requirement for modified atmosphere packaging likely to be witnessed
- Growing preference for Polyethylene (PE) material to boost sales
- Rise in demand from beef and pork segments to fuel sales
- The United States to remain a lucrative market for fresh meat packaging
- Germany to maintain its lead in Europe’s market for fresh meat packaging
- Asia Pacific to emerge as the fastest-growing market
- China, the United Kingdom, India, Japan, France, and Canada to maintain positive industry outlook
“Incorporation of cutting-edge technologies by leading manufactures is set to raise their revenue considerably. Additionally, surge in demand for vacuum skin packaging and vacuum thermoformed packaging solutions will bolster market growth,” says a report analyst.
Growing Consumption of Meat Fuelling Sales of Fresh Meat Packaging
Fresh meat packaging is highly sought-after for storing various types of meat such as beef, pork, poultry, seafood, and others. With increase in consumption of meat and seafood across the world, manufacturers of fresh meat packaging are expected to gain higher revenues over the coming years.
According to data revealed by the National Chicken Council, in the United States, per capita consumption of total red meat grew from 104.2 pounds in 2015 to 111.7 pounds in 2020, and this is set to grow further. As stated in a report published by the European Commission (EC), meat and veal production in the European Union (EU) increased to nearly 28 million tonnes in 2015, and is subject to grow further. These factors are widening the growth scope for fresh meat packaging manufacturers across the world.
Who is winning in this space?
The global fresh meat packaging market is strictly competitive. In order to main in leading positions, key players are launching a wider range of products.
For instance,
- Sealed Air Corporation recently launched its new range of leak proof beef, pork, and lamb packaging solutions.
- Cascades Inc. launched its new range of recyclable LDPET trays, molded pulp trays, RPET barrier trays, and others, a couple of years back.
These insights are based on a report on Fresh Meat Packaging Market by Fact.MR.
May 7, 2021 - Fact.MR
