Global fresh meat packaging market was valued at US$ 1.86 billion in 2016, according to Global Fresh Meat Packaging Market Report, by Material (Biaxially Oriented Polypropylene (BOPP), Polyethylene (PE), Polypropylene (PP), Ethylene Vinyl Alchohol (EVOH), and others), by Meat Type (Pork, Beef, Poultry, and Seafood), by Technology (Modified Atmosphere Packaging, Vacuum Thermoformed Packaging, and Vacuum Skin Packaging) published by Coherent Market Insights. The global fresh meat packaging market is expected to register a CAGR of 3.38% over the forecast period (2017-2025), reaching US$ 2.46 billion by 2025.
Major factors propelling growth of the global fresh meat packaging market include growing demand for case ready packaging for fresh meat products, increasing worldwide urbanization, and innovation in fresh meat packaging technology for instance, multi-cavity packs, pre-perforated portion packs, standard retail packs, rapid air forming and others. Demand for convenience food has increased due to the busy lifestyle, in turn, fueling demand for easy to carry and flexible packaging. Vendors are increasing investment in R&D activities to develop sustainable and easy to use packaging designs, to offer portability and convenience. This coupled with the growing retail industry is driving growth of the global fresh meat packaging market.
High costs associated with packaging and processing of fresh meat, which aim to meet high quality standards, hinders growth of the market. Plastic packaging is relatively cheaper than other packaging, however, negative environmental repercussions associated with its recyclability and toxicity pose as restraints for growth of the fresh meat packaging market.
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Browse 150 market data tables* and 90 figures* on “Fresh Meat Packaging Market” – Global forecast to 2025.
Key Trends and Analysis of the Global Fresh Meat Packaging Market:
Among materials, polyethylene (PE) segment held a dominant position in the global fresh meat packaging market in 2016. The segment is expected to sustain its dominance throughout the forecast period, owing to the property of lowest softening point of the material, which results in lower processing energy cost.
Key Takeaways of the Market:
North America held a dominant position in the global fresh meat packaging market and was valued US$ 0.71 billion in 2016. The region is projected to witness a CAGR of 3.25% in terms of revenue during the forecast period. Furthermore, the U.S. led the market in 2016 and is expected to retain market dominance throughout the forecast period. In North America, polyethylene (PE) is extensively used for packaging fresh meat, as it possesses the lowest softening point, in turn, resulting in lower processing energy cost. According to United State Department of Agriculture (USDA), the U.S is a major producer of beef and poultry meat, producing around 20% of the total beef production in the world. This in turn drives the fresh meat packaging market in the region. Increasing product innovations through extensive research and development activities by major manufacturers also fuel market growth.
Asia-Pacific is projected to be the fastest growing market, witnessing highest CAGR of 3.94% over the forecast period. According to the Organization for Economic Co-operation and Development (OECD), China is the major producer of pork meat, accounting for around 31.3 kg/capita pork meat in 2016, followed by poultry and beef. High Population, rapid urbanization, and rapid adoption of contract packaging in the fresh meat industry are expected to fuel growth of this market in Asia Pacific over the forecast period.
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Major players operating in the market of fresh meat packaging market include Crown Holdings, Berry Plastics Corporation, Tetra Pak International S.A., Packaging Corporation of America, Bemis Company, Inc., E.I. du Pont de Nemours & Co, Sealed Air Corporation, Nuconic Packaging LLC., Toyo Seikan Group Holdings Ltd., Amcor Limited, Coveris Holdings S. A, Bollore Group, and Silgan Holdings, Inc.