by The global Fresh Meat Packaging Market is estimated to be valued at US$ 2.21 Bn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Fresh meat packaging involves packaging solutions that help extend the shelf life of fresh meat and poultry products. Growing health consciousness among consumers has increased the demand for fresh and healthy food products. Fresh meat products like beef, pork, and poultry are considered highly perishable and prone to microbial degradation if not packaged properly. Effective packaging solutions allow distribution of fresh meat to far places, while keeping it safe and fresh for longer duration. Various types of materials used in fresh meat packaging include polyethylene, polypropylene, EVOH, polyamide, and EPS among others. Trays, wrapped film, vacuum skin packaging, modified atmosphere packaging, and bags are some of the common packaging formats.
Market Key Trends:
One of the major trends in the fresh meat packaging market is the rising demand for modified atmosphere packaging (MAP) and vacuum skin packaging (VSP) solutions. Both these technologies improve the shelf life of fresh meat significantly by eliminating oxygen and maintaining a modified atmosphere inside the package. MAP and VSP allow distribution of fresh meat across longer distances and keep it fresh for upto 5 weeks. Another key trend is the increasing popularity of re-sealable and easy-to-open packaging formats like zipper pouches, stand-up pouches, and trays with peelable lids. These formats provide convenience in use and storage of leftover products. Innovation of packaging incorporating antimicrobial properties is also growing to further enhance the microbial safety of fresh meat.
Porter’s Analysis:
- Threat of new entrants: The threat of new entrants in the fresh meat packaging market is low due to high manufacturing and branding costs.
- Bargaining power of buyers: The bargaining power of buyers in the fresh meat packaging market is high as they can easily switch between providers if offered better quality or price.
- Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are number of suppliers in the market offering packaging solutions.
- Threat of new substitutes: The threat of new substitutes in the fresh meat packaging market is low as there are limited substitutes for fresh meat packaging.
- Competitive rivalry: high.
Key Takeaways:
The global fresh meat packaging market is expected to witness high growth, exhibiting CAGR of 3.5% over the forecast period, due to increasing demand for packaged fresh meat.
Regional Analysis:
Regionally, North America dominated the fresh meat packaging market in 2023, accounting for around 35% share, owing to rising health-conscious population. Meanwhile, Asia Pacific is expected to witness fastest growth during the forecast period due to growing disposable income.
Key Players:
Key players operating in the fresh meat packaging market are Amcor Limited, E.I. du Pont de Nemours & Co, Bemis Company, Inc., Berry Plastic Group, Winpack Ltd., Sealed Air Corp., Crown Holdings, Reynolds Group, Coveris Holdings S.A., and Sealpac International BV. Amcor Limited offers wide range of fresh meat packaging products such as shrink bags, vacuum bags, and modified atmosphere packaging.
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