Global Fresh Meat Packaging Market Study Reveals Growth Factors and Competitive Outlook for Future
The global market of fresh meat packaging accounted for significant market share in 2016 and is anticipated to reach USD 99 Billion by the end of 2023 by witnessing a compound annual growth rate of 4% over the period 2016-2023. To resist physical and chemical changes to the food combined with protection against microbes are the main factors that are driving the growth of the fresh meat packaging market. In addition to that, ongoing trend of attractive packaging is anticipated to propel the growth of the market in upcoming years.
The fresh meat packaging market has been segmented by packaging into flexible plastic meat packaging, rigid plastic meat packaging and metal meat packaging among other forms of meat packaging. Among these segments, the flexible plastic meat packaging is further segmented into polyethylene (PE), polyvinylidene chloride (PVDC) and polyvinyl chloride (PVC), out of which PE segment dominated the overall fresh meat packaging market during 2016 and is anticipated to continue its dominance over the forecast period.
In the regional segment, North America is the largest market for Fresh Meat Packaging and held the dominant position in 2016 owing to the demand for pork meat in the region. This is anticipated to drive the growth of fresh meat packaging market in North America with dominant market share over the forecast period. After North America, Europe and Asia-Pacific are anticipated to growth with significant market shares by the end of 2023 where the Asia-Pacific fresh meat packaging market is driven by rising disposable income and rise in consumption of beef, pork and other meat products in the region.
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Growing Demand for Convenience Food
The growth of the fresh meat packaging market is driven by the rise in the global population and increasing demand for convenience food due to time constraints among working class population. Apart from that, advancement in packaging technology and adoption of eco-friendly techniques for fresh meat packaging is believed to supplement the growth of the fresh meat packaging market over the forecast period.
However, recyclability, sustainability and rising health concerns are some of the factors concerning the growth of the fresh meat packaging market.
The report titled “Fresh Meat Packaging Market: Global Demand, Growth Analysis & Opportunity Outlook 2023” delivers detailed overview of the fresh meat packaging market in terms of market segmentation by packaging, by layer, by packaging format, by meat type, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the fresh meat packaging market which includes company profiling of Film Convertors, Bemis Company, Inc., Winpak Ltd., Sealed Air Corp., Amcor Ltd, Crown Holdings, Nuconic Packaging LLC, Tetra Pak International S.A., Silgan Holdings, Inc., Reynolds Group and Toyo Seikan Group Holdings.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the fresh meat packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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