NEW YORK, April 30, 2024 /PRNewswire/ — The global fresh meat packaging market size is estimated to grow by USD 473.65 million from 2024 to 2028, according to Technavio. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 3.19% during the forecast period.
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Key Trends Fueling Growth
- Rise in the adoption of case-ready packaging of fresh meats across the world:
- Case-ready fresh meat packaging has become increasingly popular worldwide over the past decade. This method involves processing and packaging fresh meat at a packaging station before delivering it to retail shops. It helps retailers cut down on costs like labor, equipment, and space for meat preparation.
- With case-ready packaging, retailers can use their space more efficiently for other merchandising activities, as they no longer need large areas for meat cutting and preparation. Additionally, this packaging prevents leakage and ensures better quality control.
- It’s not just chicken retailers; those selling beef, pork, lamb, and other meats are also adopting case-ready packaging. Major markets for this packaging method include developed countries like the US and UK. The growing adoption of case-ready packaging worldwide presents ample opportunities for fresh meat packaging vendors, driving market growth in the forecast period.
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Major Challenges:
- High costs involved in manufacturing flexible packaging
- The cost of manufacturing flexible packaging is high owing to the increasing prices of raw materials. The primary raw material used in the manufacturing of flexible packaging is plastic, which includes PE, PP, and others. There has been a significant rise in the prices of these different types of plastics.
- For instance, in Asia, the price of PP increased by around 6.2% in the first quarter of 2022. The increase in the prices of raw materials will lead to a reduction in the profit margins of vendors as it results in a rise in the production cost of flexible packaging. Hence, vendors are forced to pass on these added costs to end-users by raising the prices. Some flexible packaging manufacturers have been increasing the prices of their products.
- Furthermore, the prices of printing inks and coatings used along with flexible packaging have also increased as a result of the rise in the price of oil, solvents, and key monomers used in polyurethane resins. Additionally, the tight supply situation with regard to titanium dioxide white pigment also increased the price of printing inks.
- For instance, in September 2021, Sun Chemical Corp. announced that it planned to increase the prices of its liquid inks and coatings for flexible packaging solutions offered to customers across all regions. The rise in the prices of all the above products used in the manufacture of flexible packaging may have a negative impact on the demand for such products from manufacturers of flexible packaging.
- Therefore, the rise in the prices of raw materials is expected to hamper the growth of the market in focus during the forecast period.
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Analyst Review
In the fresh meat packaging market, there’s a growing demand for solutions that keep products fresh while being eco-friendly. Consumers are looking for packaging that protects seafood and poultry products from contaminants like bacteria and chemicals. BOPP, biodegradable paper, and bio-plastics are gaining traction as alternatives to traditional packaging materials.
With concerns about the novel coronavirus, hygiene and safety are top priorities. Vacuum sealing and barrier films help keep meat products safe from biological, chemical, and physical contaminants. Additionally, compostable and molded fiber packaging offer environmentally friendly options for disposal.
As eCommerce continues to expand, packaging needs to adapt to different network layouts and transportation methods. Companies are investing in solutions that balance capacity and preservation to ensure meat products arrive fresh to consumers’ doorsteps. The focus is on innovative packaging that not only protects the product but also minimizes environmental impact.
Market Overview
The Fresh Meat Packaging Market includes products for seafood and poultry, as well as BOPP, biodegradable paper, and bio-plastics. With concerns over the novel coronavirus, packaging plays a crucial role in ensuring food safety. Barrier films and vacuum sealing help prevent contaminants like biological, chemical, and physical particles from affecting food quality.
Biodegradable and compostable packaging options are gaining traction due to environmental concerns. Molded fibers are used for preserving freshness while reducing waste. Efficient network layouts and increased capacity support the growing demand for eCommerce in the industry.
As consumers become more conscious of sustainability, the market sees a shift towards biodegradable products and innovative packaging solutions. In this dynamic landscape, companies focus on maintaining quality and safety standards while meeting consumer demands for convenience and eco-friendliness.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
- Type
- Beef
- Pork
- Goat Meat/mutton
- Poultry
- Seafood
- Packaging
- Flexible
- Rigid
- Geography
- North America
- Europe
- APAC
- South America
- Middle East And Africa
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
