Meat Packaging Market Demand Outlook Offers Compelling Insights into Key Factors Driving Sales, Future Market Insights Study
Future Market Insights' survey offers exhaustive meat packaging market analysis. It covers factors enabling sales across key segments including material type, product type, meat type, and packaging technology. The study includes analysis of key strategies adopted by meat packaging manufacturers and impact of the same on the overall market
DUBAI, U.A.E, July 1, 2021 /PRNewswire/ -- The global meat packaging market is set to exhibit a steady growth driven by the rising consumption of meat products globally. FMI forecasts meat packaging sales outlook to remain positive, rising at a CAGR of 4.7% during the forecast period 2021-2031 in comparison to a CAGR of 2.9% registered between 2016 and 2020.
According to the Organization for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization (FAO), the per capita consumption of meat recorded in 2018 was around 34.7 kilograms, and it is estimated to reach 35.1 kilograms retail weight equivalent (r.w.e) by the year 2028. As the consumption of meat is increasing year on year, the market for meat packaging is expected to soar during the assessment period.
North America is dominating the global meat packaging market. Owing to the high consumption of pork, beef, and poultry meat in the region, the sale of meat is expected to surpass a valuation of US$ 1.3 billion by the end of 2021, making the region a center point for the expansion of the market.
The polyethylene segment accounts for the leading meat packaging market share, accounting for over 55% through 2031. Owing to its glossy texture and high durability characteristics, it is a more preferred choice for transparent packaging.
"To cater to the increasing demand for meat products amid coronavirus pandemic, leading players operating in the market are emphasizing on using packaging materials having protective attributes to minimize the risk of contamination," says the FMI analyst.
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Key Takeaways
- The U.S. is leading the market for meat packaging in North America and is expected to account for more than 85% of the market share in the region by the end of 2031.
- Owing to increasing meat consumption, the meat packaging demand in China is likely to grow at a CAGR of 6.2% over the coming decade.
- Germany is estimated to hold over 16% of the sales for meat packaging in Europe due to the presence of well-developed packaging infrastructure.
- India, home to the largest population of milch animals across the world, accounts for more the 15% of the sales in South Asia.
- Modified atmosphere packaging is dominating the segment and is anticipated to hold over 38% of the revenue share in 2021 as it reduces pathogenic microflora and the growth of spoilage in meat.
Key Drivers
- Increased consumption of meat such as pork, beef, poultry, etc will fuel the demand for meat packaging.
- Advancements and innovations in packaging technologies are estimated to boost the growth of the market.
- Advent of ready-to-eat meat products is spurring the growth of the market.
Key Restraints
- Decline in meat consumption due to the rising prevalence of obesity is hampering the demand for meat packaging.
- Increasing environmental awareness regarding plastic consumption for packaging is restraining the growth of the market.
- Lack of logistics and cooling infrastructure is negatively affecting the market growth.
Discover more about the meat packaging market with figures and data tables, along with the table of contents. Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-710
Competitive Landscape
Key players operating in the meat packaging market are focusing on establishing strategic partnerships and collaborations with other market players to expand to expand their revenue share and global reach. For instance,
- Faerch announced a launch of next generation of leading MAPET® II packaging products in July 2019, for the protein sector made from 100% recyclable and recycled material.
- In April 2021, Constantia Flexibles, an Austria based company, set up a new production facility in Copenhangen to grow their business in Scandavian market and triple the production capacity.
Some of the leading companies operating in the meat packaging market profiled by FMI are:
- Amcor Plc
- Berry Global Inc.
- Winpak Ltd.
- Sealed Air Corp.
- Mondi Group
- Amerplast Ltd.
- Faerch Plast A/S
- Bollore Group
- Constantia Flexibles Group GmbH
- Sonoco Products Company
- Thantawan Industry Plc
- Cascades Inc.
More Insights on FMI's Meat Packaging Market
The latest market study on global meat packaging market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
By Material Type:
- Polyethylene (PE)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Ethylene Vinyl Alcohol (EVOH)
- Polyamide (PA)
- Others
By Product Type:
- Fresh Meat
- Processed Meat
- Frozen Meat
By Meat Type:
- Beef
- Pork
- Poultry
- Seafood
- Others
By Packaging Technology:
- Modified Atmosphere
- Vacuum Skin
- Vacuum Thermoformed
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
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Key Questions Covered in the Report
- The report offers insight into meat packaging demand outlook for 2021-2031
- The market study also highlights projected sales growth for meat packaging market between 2021 and 2031
- Meat packaging market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Meat packaging market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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