Meat Packaging Market Projected to Record Highest CAGR of 4.7% by 2022 to 2031: Future Market Insights

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Future Market Insights
Mar. 09, 2022 09:00
PUNE, INDIA--(Korea Newswire)--The meat packaging market is expected to register positive growth through 2021, with the overall valuation forecast to reach US$ 6.9 Bn. Future Market Insights projects meat packaging sales to increase at 4.7% CAGR between 2021 and 2031.

According to a recent report by Future Market Insights (FMI), the global meat packaging market is estimated to grow by 1.6x during the forecast period, reaching a volume of 3.5 million tons in 2021. Growing consumption of fresh and processed meat products and developments in material and design will support long-term growth.

The selection of clear packaging forms is gaining traction among meat packaging producers. Clear packaging has become increasingly popular owing to its functionality, especially with regards to promoting transparency in business, which is key to achieving faith and confidence among consumers.

Key Takeaways of Meat Packaging Market Study

· Polyethylene (PE) plastics are gaining traction owing to their superior barrier attributes. The segment is forecast to expand by 1.7x of its current valuation, generating an incremental opportunity of approximately US$ 2.5 Bn.
· Modified atmosphere packaging technology will account for more than 40% of the market share by the end of 2031. The demand for the technology will increase due to its aesthetic appeal and improved shelf-life.
· China will hold 42.3% of the East Asia market in 2021, driven by a vast non-vegetarian consumer base.
· Germany and Italy are exhibiting high growth potential, accounting for over 15% and 13% respectively, in the Europe market, driven by rising export activities.
· The U.S. will hold over 84% of the North America market, supported by a large consumer base and presence of a matured meat processing industry.

Impact of COVID-19 on Meat Packaging Market

Meat packaging is gaining traction owing to benefits such as extended shelf-life and cost-effectiveness. COVID-19 has caused disruptions in several end-use industries because of which the meat packaging market was hurt in 2019.

The pandemic also caused disruption in the supply chain and global sales. Most raw materials are sourced through imports. Raw supplies are dispatched to meat packaging producers and then to the merchants of various countries for business and shipping across the globe.

Meat Packaging Market Landscape

The global meat packaging market is highly fragmented in nature. A larger portion of the market share is held by domestic and local market players. Leading players in the sector are focusing on the expansion of production capacity, in addition to investing in tech improvements.

Some of the key players operating in the global meat packaging market 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, and Cascades Inc.

Meat Packaging Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global meat packaging market, analysing historical demand from 2016-2020 and forecast statistics for 2021-2031. The study reveals growth projections on the meat packaging market on the basis of product type (fresh meat, processed meat, frozen meat), by meat type (beef, pork, poultry, seafood and others), by material (polyethylene, polypropylene, polyvinyl chloride, ethylene vinyl alcohol, others [polyvinylidene chloride, etc.]) and by packaging technology (modified atmosphere, vacuum skin, vacuum thermoformed, others [active packaging, etc.]) across seven regions.

Global Meat Packaging Market Report: https://www.futuremarketinsights.com/reports/meat-...
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