The meat packaging market is estimated to garner a hefty amount of revenue by growing at a moderate CAGR over the forecast period, i.e., 2021 – 2029. The growth of the market can be attributed to the growing consumption of meat globally, mainly pork and beef, upgraded storage units for frozen foods, and the surging demand for flexible meat packaging. According to the Food and Agriculture Organization of the United States (FAO), the global meat consumption per capita is forecasted to rise up to 35.4 kg retail weight equivalent (r.w.e) by the end of 2027. Furthermore, rise in disposable income of the worldwide population is also predicted to fuel the growth of the market in the near future. Along with these, improvement in transportation services in the previous years is a significant factor projected to offer opportunities for market expansion.
The market is segmented by packaging technology into modified atmosphere, vacuum skin, and vacuum thermoformed, out of which, the modified atmosphere segment is anticipated to hold the largest share in the meat packaging market and is expected to grow with the highest CAGR during the forecast period. This can be accounted to the properties such as enhanced manufacturing capacity, longer shelf life, and improved freshness cycle of products packaged by this technique. Apart from these, modified atmosphere packaging also offers benefits to manufacturers owing to reduced production and labor costs, which in turn is estimated to drive growth to this market segment in the coming years. Additionally, based on material, the segment for plastic is assessed to grab the largest market share in 2021 and continue this trend over the forecast period as plastic films are capable of keeping meat and other perishable products fresh for longer periods. CLICK TO DOWNLOAD SAMPLE REPORT
On the basis of geographical analysis, the meat packaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in Asia Pacific is estimated to witness a noteworthy growth over the forecast period on the back of increasing industrialization, rise in disposable income of the population coupled with the growing consumption of beef and pork in the region, namely in China and Korea. According to the data given by Organization for Economic Co-operation and Development (OECD), Korea had the highest consumption of pork in 2019, amounting to 31.2 kilograms/capita. Moreover, the market in North America and Europe are expected to hold notable shares in the market owing to the growing demand for meat products and the strong presence of industrial players. In addition to this, the change in lifestyle of urban population is evaluated to increase the utilization of pre-processed and packaged foods, which in turn is assessed to be a major growth driver for the market in these regions.
The meat packaging market is further classified on the basis of region as follows:
Our in-depth analysis of the meat packaging market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing pork and beef consumption, and improved storage units of frozen foods are expected to drive market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021 – 2029.
Growing trend of veganism and high cost of fresh meat products are estimated to hamper the market growth.
Asia Pacific region is estimated to provide more business growth opportunities on the back of increasing industrialization and disposable income of the population.
The major players in the market are Berry Global Inc., Sealed Air Corporation, Smurfit Kappa Group, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by material, packaging technology, meat type, and by region.
The modified atmosphere segment is anticipated to hold the largest market size and is estimated grow at a noteworthy CAGR over the forecast period and display significant growth opportunities.
Select License Type
Direct access to analyst to help you understand the market in a better way to handle your critical question
Citing your business specific requirement our consultant would assist you ensuring targeted goal is achieved
Get 10% free customization