Fresh Meat Packaging Market Insights,Opportunity Analysis, and Industry Forecast
Posted by anagha on August 30th, 2018
Fresh meat packaging offers protection to meat products from various contaminations, in turn increasing the shelf life of products. Fresh meat packaging is associated with numerous benefits such as reduced carbon footprint, low energy, and raw material consumption. Moreover, various materials, including polyethylene (PE), polypropylene (PP), ethylene vinyl alcohol (EVOH), and biaxially oriented polypropylene (BOPP) are widely used in manufacturing packaging for fresh meat products. Rising environmental concerns regarding harmful effects of packaging wastes and growing awareness regarding global warming are fuelling the demand for innovation and development of biodegradable and recyclable packaging material such as bio-based polymers, including polyhydroxyalkanoates (PHA).
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The major factors propelling growth of the fresh meat packaging market include growing demand for meat products such as pork, beef, poultry, and seafood. Fresh meat packaging employs superior quality materials for packaging, to prevent any contamination. Furthermore, packaging improves the shelf life of fresh meat products, in turn, attracting a large number of health conscious consumers.
Rapid urbanization, growing demand for convenience products, and growing awareness about the benefits of meat packaging are factors responsible for steady growth of the fresh meat packaging market. These factors are expected to drive rapid growth of the market during the forecast period.
In terms of revenue, North America held a dominant position in the fresh meat packaging market in 2016, accounting for over 35% market share. The region is expected to retain its dominance throughout the forecast period. Pork meat recorded the highest demand among consumers over the last four years. The U.S. is the frontrunner for fresh meat packaging market in North America and is expected to sustain its leading position throughout the forecast period. According to the National Center for Biotechnology Information (NCBI), in U.S., the consumption of meat was more than three times when compared to the global average and around 58% of the consumers preferred red meat over poultry in 2011. Furthermore, according to Organization for Economic Co-Operation and Development (OECD), the average American adult consumed 198 pounds of meat in 2014. This indicates high demand for meat, which in turn, is expected to fuel growth of the fresh meat packaging market in North America over the forecast period.
Asia Pacific is expected to be the fastest growing market for fresh meat packaging, witnessing the highest CAGR of 3.94% over the forecast period. Rapid growth of the market is attributed with the increasing meat consumption in this region, with China being the major contributor for market growth. In 2014, China recorded the largest per capita meat consumption, followed by Japan, Thailand, Indonesia, and India. However, China witnessed a decline in traction for pork meat due to safety scandals among a large number of pork suppliers, over the last two years. Growing awareness among consumers regarding the consumption of low fat protein options and the recent swine flu epidemic pose as major factors, restraining growth of the poultry segment in the region. Unlike other emerging economies, India has a very low per capita meat consumption, accounting for only 9%, in terms of volume in 2014. However, increasing per capita income and growing consumer inclination towards meat products are expected to fuel growth of the fresh meat packaging market in Asia Pacific.
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On the basis of technology, the fresh meat packaging market is segmented into modified atmosphere packaging (MAP), vacuum thermoformed packaging (VTP), and vacuum skin packaging (VSP). Further, on the basis of meat type, the fresh meat packaging market is segmented into pork, beef, poultry, and sea food.
Among material type, polyethylene (PE) held a dominant position in the fresh meat packaging market in 2016 and is expected to retain its dominance throughout the forecast period.
Key Players in the Fresh Meat Packaging Market
Major players operating in the fresh meat packaging market include Bemis Company, Inc., Nuconic Packaging Llc, Winpak Ltd., Crown Holdings, Tetra Pak International S.A., Sealed Air Corp. ,Berry Plastic Group Inc., Coveris Holdings S.A., Silgan Holdings Inc., and Toyo Seikan Group Holdings.
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About the Authoranagha
Joined: July 22nd, 2017
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