Future Market Insights' survey offers exhaustive meat packaging market analysis. It covers factors enabling sales across key segments including material type, product type, meat type, and packaging technology. The study includes analysis of key strategies adopted by meat packaging manufacturers and impact of the same on the overall market
DUBAI, U.A.E, July 1, 2021 /PRNewswire/ --The global meat packaging market is set to exhibit a steady growth driven by the rising consumption of meat products globally. FMI forecasts meat packaging sales outlook to remain positive, rising at a CAGR of 4.7% during the forecast period 2021-2031 in comparison to a CAGR of 2.9% registered between 2016 and 2020.
According to the Organization for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization (FAO), the per capita consumption of meat recorded in 2018 was around 34.7 kilograms, and it is estimated to reach 35.1 kilograms retail weight equivalent (r.w.e) by the year 2028. As the consumption of meat is increasing year on year, the market for meat packaging is expected to soar during the assessment period.
North America is dominating the global meat packaging market. Owing to the high consumption of pork, beef, and poultry meat in the region, the sale of meat is expected to surpass a valuation of US$ 1.3 billion by the end of 2021, making the region a center point for the expansion of the market.
The polyethylene segment accounts for the leading meat packaging market share, accounting for over 55% through 2031. Owing to its glossy texture and high durability characteristics, it is a more preferred choice for transparent packaging.
"To cater to the increasing demand for meat products amid coronavirus pandemic, leading players operating in the market are emphasizing on using packaging materials having protective attributes to minimize the risk of contamination," says the FMI analyst.
Key players operating in the meat packaging market are focusing on establishing strategic partnerships and collaborations with other market players to expand to expand their revenue share and global reach. For instance,
Faerch announced a launch of next generation of leading MAPET® II packaging products in July 2019, for the protein sector made from 100% recyclable and recycled material.
In April 2021, Constantia Flexibles, an Austria based company, set up a new production facility in Copenhangen to grow their business in Scandavian market and triple the production capacity.
Some of the leading companies operating in the meat packaging market profiled by FMI are:
Berry Global Inc.
Sealed Air Corp.
Faerch Plast A/S
Constantia Flexibles Group GmbH
Sonoco Products Company
Thantawan Industry Plc
More Insights on FMI's Meat PackagingMarket
The latest market study on global meat packaging market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
The report offers insight into meat packaging demand outlook for 2021-2031
The market study also highlights projected sales growth for meat packaging market between 2021 and 2031
Meat packaging market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Meat packaging market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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