Fresh Meat Packaging Market to Experience a Hike in Growth in Coming year
Transparency Market Research delivers key insights on the fresh meat packaging market in its published report, which includes global industry analysis, size, share, growth, trends, and forecast for 2019 – 2027. In terms of revenue, the global fresh meat packaging market is projected to expand at a CAGR of 4.5% during the forecast period, due to several factors, about which, TMR offers detailed insights and forecast in this report.
Fresh Meat Packaging Market – An Overview
Meat, being a perishable product, gets easily damaged when left uncovered and unprocessed in ambient temperature. As cured meats degrade in the presence of oxygen, it is important to adopt a packaging system to offer consumers with healthy and safe food. The need for sustainable packaging that can hinder microbial growth and prevent contamination leads to the introduction of fresh meat packaging. Fresh meat packaging extends the shelf life of fresh meat, keeping it fresh for a long duration. Innovations in the preservation process by manufacturers continue to search for a packaging solution that can extend the shelf-life of meat products as well as be safe and eco-friendly.
Asia Pacific Excluding Japan (APEJ) to Witness Growth Opportunities for Fresh Meat Packaging Manufacturers
Asia Pacific excluding Japan, in terms of fresh meat packaging, covers more than 20% of the global fresh meat packaging market, and is anticipated to maintain its prominence over the forecast period. India & China are the most attractive markets for the extensive growth of the fresh meat packaging market. The markets in China and India, collectively accounted for ~60% of the APEJ fresh meat packaging market in 2018. Increased consumer convenience is the major trend for fresh meat packaging in the Asia Pacific region. A packaging that can avert the spoiling of fresh meat for a longer duration, providing safety to consumer, drives the fresh meat packaging market.
North America dominates the global fresh meat packaging market with an expected market share of ~30% over the forecast period. Western Europe is expected to have a decent share of ~18% in 2019. The U.S. represents ~90% of the fresh meat packaging market in North America, while Canada is estimated to expand at an impressive CAGR of 4.5% during the forecast period.
In spite of being a matured market, Western Europe is expected to represent an incremental opportunity of ~US$ 110 Mn by 2027. The Western Europe region holds ~one-sixth of the global fresh meat packaging market share. However, it is expected to experience less growth as compared to the market in APEJ over the forecast period.
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Global Fresh Meat Packaging Market: Competition Landscape
In the global market report on fresh meat packaging, a detailed competition landscape is discussed. Some of the key players in the global fresh meat packaging market that are included in the report are 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. are the market leaders, with a combined market share of 15-20% of the global fresh meat packaging market.
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