Fresh meat packaging market to double its size in 10 years
The global fresh meat packaging market size is expected to reach $ 4.5 billion by 2030 from $ 2.30 billion in 2020, growing at a compound annual growth rate (CAGR) of 7.7% from 2021 to 2030, according to a market report from TrendsMarketResearch. The rising demand for flexible packaging over rigid and aesthetic dispensing of food items via transparent packaging is projected to drive the market.
"Fresh meat packaging is gaining significant traction nowadays due to the characteristics such as longer shelf life, cost-effectiveness, and more efficient packaging offering. Many of the retailers and butchers are shifting to use effective barrier or shrink films as a packaging solution, as the films have high tear resistance and high yield. Moreover, moisture-free packaging is the major concern among many end users for ensuring their product safety and shelf life. Machine automation is the new future, which allows vacuum enabled packaging of meat products. This increases speed of packaging and speed ups production activities ensuring maximum productivity of the organization. Therefore, lucrative sales opportunities are expected for fresh meat packaging in near future," the report stated.
Among various packaging types, the vacuum skin packaging stand up pouches segment is estimated to account for more than 32% of the market share by the end of 2030. There is a high demand for fresh meat packaging in the food & beverages industry, as they promise to offer various closure options, aesthetic appeal, and enhanced shelf life.
The polyethylene (PE) material type segment in the fresh meat packaging market accounts for the majority of the market share, in terms of value. Polyethylene (PE) plastics is widely used, as it offers clear packaging added with barrier properties. The segment is projected to expand by 1.5x its current value, creating an incremental opportunity of nearly $ 460 million.
Among various meat types, poultry meat such as chicken, ducks, turkey, and geese is the most consumed meat-type globally. Therefore, the poultry meat packaging market is expected to reach over $ 1.2 billion by the end of 2030.
North America's fresh meat packaging market is expected to outbid other regions. This market is forecast to create maximum incremental opportunity of $ 240 million over the next 10 years and is expected to expand at a CAGR of 4.2% by 2030 year end. As a result, the North American region is anticipated to hold a market share of more than 31% in the global fresh meat packaging market by 2030.
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