|
|
|
You can get e-magazine links on WhatsApp. Click here
|
|
|
|
|
|
Meat packaging market outlook: Key drivers & trends for next decade
|
|
Tuesday, 17 December, 2024, 12 : 00 PM [IST]
|
|
Our Bureau, Mumbai
|
The global meat packaging market size is estimated to reach $7.4 billion in 2023, and further exhibit a steady CAGR of 5.2% during the assessment period (2023 and 2033). Overall meat packaging sales are projected to surpass a valuation of $12.3 billion by the end of 2033, according to Future Market Insights.
Growing consumption of protein-rich products, rising demand for packaged food products, and increasing focus on improving shelf life of meat products are a few of the prominent factors driving the worldwide meat packaging industry.
Top 5 companies are forecast to hold about 15 to 20% share of the global market by the end of 2023. Based on the material segment, the polyethylene segment is projected to expand 1.6 times the current market value during the forecast period. This is attributed to the chemical properties of polyethylene which gives excellent transparency, gloss, and barrier from moisture.
Meat packaging is a type of packaging used to protect meat and meat products from mechanical, chemical, and biological hazards during processing, storage, and distribution. It is typically made from materials such as polyethylene, polypropylene, and polyvinyl chloride, and helps end users significantly improve the shelf life of meat products while retaining the original characteristics of the packaged items.
Increased consumption of packaged food, growing concern towards hygiene, and high demand for packaging that helps to extend shelf life without altering the properties of meat products are expected to boost meat packaging sales during the assessment period. The company predicts the global meat packaging industry to generate an attractive incremental growth opportunity of $5.1 billion between 2023 and 2033.
In recent years, there has been a dramatic rise in the production and consumption of meat and poultry products worldwide due to their high nutritional content, and this trend is expected to further escalate during the projection period. For instance, as per the Institute of Food Technologies (IFT), Worldwide meat consumption is expected to rise 1.4% per year through 2023. This will elevate demand for meat packaging solutions.
Subsequently, rising export of meat and poultry products worldwide and advancements in packaging technologies are anticipated to create huge revenue-generation opportunities for meat packaging manufacturers over the next ten years.
Leading meat packaging companies are rapidly shifting their preference towards sustainable meat packaging solutions to increase their revenues. They are spending huge amounts in research and development activities to develop eco-friendly meat packaging types that meet both environmental and meat packaging requirements. This will bode well for the market.
Which are the Key Trends Shaping the Global Meat Packaging Industry?
· Sustainability Trend in Meat Packaging to Boost Market Through 2033
Currently, plastic is the most widely used material in meat packaging. However, with growing environmental concerns and implementation of stringent regulations for reducing plastic usage, meat packaging manufacturing companies are developing sustainable packaging solutions for packing meat products.
The development of composite films manufactured from polylactic acid blown with cinnamon essential oil and copper or silver Nano-particles in polymer cast is helping fulfil the sustainability goals.
Along with the consumers changing preference towards sustainable and eco-friendly packaging, the rules imposed by the governments on the use of plastic packaging materials have given a boost to sustainable packaging in the meat packaging market.
Increasing research and development activities for exploring new bio-based materials and the shift towards using sustainable and bio-based packaging in meat processing industry will boost the global meat packaging industry during the assessment period.
·Adoption of Transparent Packaging Solutions to Fuel Meat Packaging Sales
The adoption of clear packaging formats by meat packaging manufacturers is seen currently. The reason behind the strategy is to boost sales as transparent packaging helps in product visibility and in gaining consumer trust.
Transparency of a package is often perceived as an indication of the quality of the product. The demand for clear packaging is on the rise, particularly in the food & beverages industry. This makes it useful for the consumer goods market, where product differentiation is at the epicentre of manufacturers’ focus.
Transparent surfaces can be achieved by using films as they offer superior transparency and gloss to the package. This also saves printing, labelling, and other decoration costs on packaging, as most of the surface is meant to provide evident packaging. A substantial portion of consumers makes purchase decisions at the point of purchase, which is likely to be influenced by the packaging. Therefore, the adoption of such packaging solutions is likely to boost the sales of meat packaging.
|
|
|
|
|
|
|
|
|
|