In a recently published report, Transparency Market Research speaks about the global fresh meat packaging market and its future developments and prospects. The research report entails in detail about the history of market, current trends, possible restraints, geographical outlook, and key players operating in the market space. The research report offers detailed segmentation that provides reader with the micro as well as macro understanding of the global fresh meat packaging market.
According to the published research report is projected to grow at a decent CAGR of 4.5% over the course of the given forecast period 2019 to 2027. Given the growth rate, the market is expected to reach an overall valuation of US$3 Bn by the fall of the final forecast year. The market was valued at ~US$2.1 Bn in 2019.
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Global Fresh Meat Packaging Market – Overview
- Meat is a perishable food product and get easily spoilt if left unattended or uncovered in ambient environmental temperature.
- Typically, cured meats degrade in the presence of oxygen, it is vital to adopt an improved packaging system to provide customers with safe and healthy food.
- The need for a sustainable packaging, which can stem microbial growth and stop contamination, thus pushing the demand for fresh meat packaging market.
- The biggest benefit of fresh meat packaging is it helps in improving the shelf life of meat and retaining its nutritious value for a longer period of time.
- Innovations and developments in the process of preservation by manufacturers are expected to continue help the overall growth of the global fresh meat packaging market.
Global Fresh Meat Packaging Market – Key Driving Factors
One of the biggest driving factors for the overall growth of the global fresh meat packaging market is the increasing demand for meat products from all over the world.
Naturally, increasing demand for meat and thus the necessity to improve its shelf life has fueled the demand for fresh meat packaging.
Another important factor driving the growth of the global market is the constant technological advancements in the field of packaging. The new packaging methods are becoming more sustainable and eco-friendly whilst maintaining the quality of meat products.
Moreover, increasing adoption of smart packaging has also helped in driving the market growth.
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Global Fresh Meat Packaging Market – Geographical Outlook
In terms of geographical segmentation, the global fresh meat packaging market is segmented into seven key regions.
These regions are North America, Latin America, Asia Pacific excluding Japan, Western Europe, Eastern Europe, Japan and the Middle East and Africa.
Of these, the North America region is expected to dominate the global fresh meat packaging market in the coming years of the forecast period. The region is expected to account for around 30% of the global market share during the forecast period.
Despite having a matured market, Western Europe is projected witness a promising growth in the near future. The market is expected to generate incremental revenue worth ~US$110 Mn by the end of 2027.
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Global Fresh Meat Packaging Market – Key Players
The competitive landscape of the global fresh packaging market is a fragmented one due to presence of several notable players. Some of the key companies operating in the global market include names such as Amcor plc, Berry Global Inc., Winpak Ltd., Sealed Air Corp., Coveris Holdings S.A., Bolloré Group, Mondi Group, Tetra Pak International S.A., Cascades Inc., Smurfit Kappa Group plc, Amerplast Ltd., and Faerch Plast A/S. As per TMR analysis, Amcor plc, Winpak Ltd., Sealed Air Corp, and Berry Global Inc.
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