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The Meat Packaging Market size is projected to increase by USD 2.45 billion at a CAGR of 4.98% between 2023 and 2028. The market experiences growth driven by a rising appetite for cloud-based solutions, an upsurge in digital transformation efforts, and a heightened adoption of the Bring Your Own Device (BYOD) concept within enterprises. These factors collectively propel market expansion, reflecting the evolving landscape of technology and business practices. The escalating demand for cloud-based solutions underscores the necessity for scalable and flexible IT infrastructure to meet contemporary business needs. Simultaneously, the surge in digital transformation initiatives signifies the imperative for organizations to adapt and innovate in the ever-changing digital environment. Additionally, the increasing adoption of the BYOD concept highlights the growing importance of mobility and flexibility in workplace strategies. Thus, the convergence of these factors delineates the landscape for the anticipated growth of the market, catering to cloud services and digital workplace solutions. Our report examines historic data from 2018 to 2022, besides analyzing the current market scenario.
Wider reach through organized retailing is the key factor driving the growth of the market. The establishment of organized retailers like supermarkets, hypermarkets, and specialty stores offers a wide product and brand assortments, which enable consumers to save time as they are provided with multiple options of food products at the same place. Ready-to-eat meals are primarily sold by large, organized retailers, representing the heavy dependence of consumers on large, organized retailers. Thus, the number of organized shops is growing, which is increasing sales of prepared foods like meat and poultry. This will boost the demand and will also drive the market during the forecast period.
The Market shows an accelerated CAGR during the forecast period.
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This market report extensively covers market segmentation by packaging (flexible packaging and rigid packaging), type (pork, poultry, beef, goat meat or mutton, and seafood), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
Pork is a popular type of meat that is consumed in various forms across the globe. Due to the growing demand for protein-rich food products among consumers and the increasing import and export of pork meat, the pork segment is expected to grow at a moderate pace. The market players are increasing their pork production to meet the growing demand from consumers. In addition, the rising demand for protein-rich food products among consumers and the growing import and export of pork meat will propel the growth of the segment and, in turn, the market during the forecast period.
The market share growth by the flexible packaging segment will be significant during the forecast period. Flexible packaging reduces transportation costs by fitting large quantities of materials in a single truck. The use of flexible packaging decreases the weight of each pallet of goods; the materials used are thinner and lighter than any other form of packaging material. Such properties of flexible packaging are triggering its demand in the market.
The flexible packaging segment was valued at USD 5.50 billion in 2018.
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Skin, individual wrap, layer-packed, multi-wrap, tray wrap, modified atmospheric, and vacuum packaging are the key flexible packaging methods used in meat packaging. Meat products include pork, poultry, beef, and others. Manufacturers of packaged meat products choose packaging, such as flexible plastic packaging, as it helps protect these products as they move through the supply chain to the retailer outlet. Hence, such factors will fuel the growth of the segment and market during the forecast period.
APAC is estimated to contribute 34% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Growing demand for meat products and high population growth are driving the growth of the regional market. China and India are key contributors to the growth of the regional market. Apart from China and India, countries such as South Korea, Singapore, Vietnam, Australia, and Indonesia are also contributing a considerable percentage to the growth of the market in APAC. In addition, low-perishable meat products will drive the demand for meat food products and, consequently, their packaging demand. Thus, high meat consumption will drive the growth of the market in APAC during the forecast period.
The market undergoes scrutiny during the assessment period as sales correlate with the demand for protein-rich products and packaged food products. Innovations in the industry, particularly in the polyethylene segment, focus on enhancing gloss and providing an effective moisture barrier with stretchable plastic meat film. Reports from organizations like OECD and FAO shed light on per capita meat consumption trends, influencing strategies for players like the Economic Research Service. Technologies like retort packaging ensure contamination control and safe handling of poultry products and fresh seafood packaging, preserving color and quality. Sustainable solutions such as biodegradable paper address environmental concerns, shaping the future of meat packaging.
The adoption of sustainable meat packaging is the primary trend shaping market growth. There are rising environmental and health due to pollution driven by the inability to control packaging waste across the globe. Plastic, one of the essential packaging materials, has been a significant contributor to this problem.
In addition, to address these problems, market players are adopting sustainable packaging options that reduce the harmful environmental impact on disposal. Various players have constantly made efforts to develop such sustainable packaging options. Therefore, the rising emphasis on sustainable packaging will propel the market during the forecast period.
Volatility in raw material prices is a challenge that affects the growth of the market. The prices of raw materials used to manufacture these products are highly unreliable. This is mainly due to the high dependency on crude oil prices. Different substrates, including polymers, resins, and additives, are commonly used to produce meat packaging. Prices of raw materials such as polyethylene and additives often fluctuate as they rely on crude oil prices as they are petroleum derivatives.
Moreover, changes in raw material prices can lead to unpredictability in the market, affect production costs adversely, and reduce vendor profit margins. The market players can transfer the cost burden to the end-users only to a certain extent, as they need to retain their customer base. Thus, the volatility in crude oil prices is anticipated to impede the growth of the market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
The market addresses a spectrum of hazards, from mechanical and chemical to biological, ensuring safety with materials like polypropylene and polyvinyl chloride. Innovations focus on extending shelf life, maintaining original characteristics, and upholding hygiene and nutritional content while meeting environmental requirements. Customization options cater to diverse needs, enhancing valuation and ensuring quality and freshness. Solutions like flexible packaging, plastic films, and barrier films safeguard against outside moisture, dust, and bacteria, crucial for preserving freshness in ready-to-eat meat and poultry meat. Technologies like thermoformed high barrier films and Moda vacuum packaging systems lead the way in storage technology and preservation methods, meeting worldwide demand with continuous product innovation in thermoforming and horizontal flow packing.
Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.98% |
Market growth 2024-2028 |
USD 2.45 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.56 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 34% |
Key countries |
US, Canada, China, Japan, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Amcor Plc, Amerplast Ltd., AP Moller Maersk AS, Berry Global Inc., Bollore Inc., Cascades Inc., Constantia Flexibles Group GmbH, Coveris Management GmbH, Crown Holdings Inc., EasyPak LLC, Foster International Packaging, GRUPO ULMA S. COOP, Omori Machinery Co. Ltd., Pactiv Evergreen Inc., Sealed Air Corp., Smurfit Kappa Group, Sonoco Products Co., Uniflex, Viscofan SA, and Winpak Ltd. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Packaging
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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