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The Meat Packaging Market size is projected to increase by USD 2,458.43 million and the market size is estimated to grow at a CAGR of 4.98% between 2023 and 2028.
This meat packaging 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). 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 for meat packaging and will also drive the market during the forecast period.
The Meat Packaging Market shows an accelerated CAGR during the forecast period.
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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 meat packaging 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 of meat packaging 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 global meat packaging market during the forecast period.
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 global meat packaging market.
The flexible packaging segment was valued at USD 5,504.04 million 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 meat packaging 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 meat packaging market in APAC during the forecast period.
In 2020, the outbreak of COVID-19 negatively affected the meat and poultry industry in APAC. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities in essential businesses, such as food processing. This may drive 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 meat packaging 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 meat packaging market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Meat Packaging 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 2,458.43 million |
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 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 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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