In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Amcor VP Sustainability presented at Global Plastics Summit to discuss industry’s move toward circularity. A global leader in developing and producing responsible packaging solutions, was represented today by David Clark, vice president sustainability at Amcor.
ULMA Packaging has taken a step further in our pursuit of sustainable packaging solutions by developing a new model of thermoforming machine to package fresh products in vacuum skin packs on a flat cardboard base.
Everything related to marketing and transporting seafood across all industries is included in seafood packaging. The rising popularity of seafood is a result of shifting eating patterns and growing public awareness of its health benefits. For the businesses involved in the seafood packaging industry, the increased investments in green products offer opened up several potential prospects. In the upcoming years, the market should grow pleasantly as a result of the expanding trends in seafood consumption and the demand for gourmet cuisines overall. The proliferation of several large-scale businesses throughout the globe should accelerate the market's expansion shortly.
Base Year |
2022 |
Forecast Year |
2023-2033 |
CAGR |
~5% |
Base Year Market Size (2022) |
~ USD 10,888 Million |
Forecast Year Market Size (2033) |
~ USD 18,095 Million |
Regional Scope |
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The global seafood packaging market is estimated to garner a revenue of USD 18095 million by the end of 2033 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 10888 million in the year 2022. The growth of the market is primarily attributed to the demand for seafood items with better consistency and shelf life. Seafood is a strong source of vitamins, proteins, and minerals, which provides many health benefits. According to the Food and Agriculture Organization (FAO), fish is the most important single source of high-quality protein that provides about 16% of the animal protein.
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Long term conservancy of seafood is proficient in a variety of ways. Partial drying and salting are the form of preservation of seafood like herring and mackerel. Fish such as salmon, tuna, and herring are cooked and canned. Edible sea plants such as seaweeds and microalgae are widely eaten as sea vegetable especially in Asia. According to the World Health Organization, the intake of oily fish such as tuna and salmon by the adult population worldwide tends to minimize the risk of coronary heart disease.
Awareness Regarding Health Benefits of Seafood - As per research, seafood provided up to 75% of n-3 PUFAs, 18% of Vitamin D, 19% Vitamin B12, 6% of niacin, and 4% of Vitamin B6 required by the human body.
Increasing Demand for Ready-to-Eat Meals – The massive growth in the ready-to-eat food is expected to surge the demand for seafood packaging. ready-to-eat food industry valued at USD 160 million in 2021.
Advancement in Packaging Technologies – The demand for packaging, especially flexible packaging is estimated to touch USD from 200 to 220 billion by the end of 2022.
Growing Emphasis on Fish and Agriculture Cultivation in both Developing and Developed countries- According to the UN food and agriculture organization (FAO), 87.5 million tons of aquatic animals were used as human food, as of 2020.Aquatic food production is forecasted to increase by 15% by 2030.
Increasing Incidence of Food Contamination - Growing regions that are contaminated with human sewage potentially led to the contamination of seafood by pathogens that possess a human source. Calicivirus, hepatitis A virus, and Salmonella type all were responsible for outbreaks of sickness linked to seafood and linked to contaminated waters. About 1.4 million illnesses attributed to foodborne illness are caused by salmonella each year in the United States.
Unregulated Processed Products
Unhygienic Handling Disrupts the Packaging
The seafood packaging market is segmented and analyzed for demand and supply by application into fresh & frozen, processed, and ready-to-eat. Out of which, the fresh & frozen segment is anticipated to hold the largest market size by the end of 2033 on the growing preference for organically farmed seafood among large consumer groups across the world. As per data, over $2.3 billion, or 32.8%, of the total value of Indian seafood, the US received the highest amount. In terms of value, frozen shrimp made up 95% of the total.
The Asia Pacific seafood packaging market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The presence of an abundant number of seafood packaging manufacturers in China, India, Japan, and South Korea. As per studies, China is the world’s leading seafood consumer. The country consumes around 20 million metric tons of seafood each year
Our in-depth analysis of the global seafood packaging market includes the following segments:
By Material |
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By Product |
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By Packaging |
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By Application |
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By Seafood |
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Ans: Increasing advancement in packaging technologies and demand for ready-to-eat meals are the major factors driving the growth of the seafood packaging market.
Ans: The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2023 – 2033.
Ans: Unregulated food processes and increased incidences of food contamination is the major challenge hindering the market growth of seafood packaging market.
Ans: The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are DS Smith, ULMA Packaging, Printpack, Amcor plc, Winpak ltd, FFP Packaging ltd, and others.
Ans: 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.
Ans: The market is segmented by material, product, packaging product, seafood type, application and by region.
Ans: The fresh & frozen segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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