MRRSE presents this most up-to-date research on "Global Market Study on Active and Modified Atmospheric Packaging: Over 13 Times Increase in Shelf Life of Fresh Food Products due to the Use of Active and Modified Atmospheric Packaging is Likely to Affirm the Impressive Market Growth"
Albany, NY -- (SBWIRE) -- 01/10/2017 -- Packaging being an essential part of food processing, manufacturers are progressively adopting innovative ways to improve the shelf life and at the same time maintain the taste and nutritious contents without compromising on the food safety. To tackle these challenges innovative packaging solutions such as active and modified atmosphere packaging plays a vital role. It is considered as a breakthrough advancement in food packaging which is primarily used to extend the shelf life of perishable products considerably. Hence, active and modified atmosphere packaging is quickly gaining traction amongst the food manufacturers and end use consumers. In order capitalize the opportunity in the highly lucrative food and beverage packaging market, players supplying packaging materials to these food and beverage manufacturing companies are heavily investing in active and modified atmosphere packaging. In order to establish themselves in the growing active and modified atmosphere packaging market, existing players are also opting for mergers and acquisitions as well as vertical integration, coupled with product portfolio expansion and systematic investment in research and development.
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Global sales of active and modified atmosphere packaging is estimated to be valued over US$ 17.0 Bn in 2016, and is projected to increase at a CAGR of 5.2% by the end of 2024. The market by the end of 2024 is forecast to surpass US$ 25.0 Bn unleashing immense potential for existing player and new entrants in the market.
Striking attributes of active and modified atmosphere packaging such as improved shelf life not only helps manufacturers, processors and retailers of food products to minimize the food wastage losses and gain higher display life but also provide the customers with better quality, taste and hygiene.. Improved shelf life due to active and modified atmosphere packaging is the leading factor driving the global active and modified atmosphere packaging market. Progressively consumers are demanding food products with greater convenience of handling and better quality, taste as well hygiene. In order to achieve the aforementioned attributes, active and modified atmosphere packaging surfaced as a best fit solution, and is translating into the increased demand for active and modified atmosphere packaging. Furthermore, developments in product such as self- venting microwave packs and respiring trays related to food packaging are aiding to this growth of the industry. Although, the global active and modified atmosphere packaging is gaining demand but is marked by challenges such as mechanical damage during transportation and inappropriate handling and recyclability for flexible packaging.
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By Application, active and modified atmosphere packaging market is segmented into meat, poultry & seafood, dairy products, fruits and vegetables, bakery and confectionary and processed food products and others. The meat, poultry & seafood segment is anticipated to remain the dominant throughout the forecast period. However, the segment is anticipated to witness moderate growth during the forecast period. Dairy products segment is poised to reflect above industry average growth with projected CAGR of over 6% till 2024. Shelf life extension of fresh food products and sustainability benefits of flexible packaging materials over rigid packaging materials are prime factors anticipated to bolster the demand for active and modified atmosphere packaging from food industry. On the basis of material, active and modified atmosphere packaging market is segmented into Polyethylene, Polyvinyl Chloride, Polypropylene, Polyamide, Polyethylene Terephthalate, Ethylene Vinyl Alcohol (EVOH), Ethylene Vinyl Acetate (EVA), and others. The active and modified atmosphere packaging market in polyethylene Terephthalate is projected to register 1.5X growth in revenue during the forecast period. On the basis of region, the global active and modified atmosphere packaging market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Among all regions, active and modified atmospheric packaging market in Asia Pacific remained an attractive destination for investment in this sector as well from procurement point of view. Food and beverage manufacturers based out of Europe prefer active and modified packaging films from the region and account for substantial of the Asia's total export of active and modified atmospheric packaging.
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Analysis by Application
Since, shelf life surfaced as a crucial as well as decisive factor among end users (i.e. meat producers, fruits and vegetable producers, processed food producers etc.) while selecting packaging options, use of active and modified atmospheric packaging enabled meat producers, co-packers and retailers to extend shelf life of fresh meat products by approximately 13X. Furthermore, this packaging solution also render a visual appeal to fresh meat, which in turn attracts meat product buyers. Even a small increase in shelf life of fresh meat is a valuable proposition for engaged industry participants and creates substantial opportunity for them to enhance market footprint.
Additionally, active and modified atmospheric packaging is a form of flexible packaging, which offers sustainability advantages such as lower raw material consumption, lower carbon footprint, reduced energy consumption and low wastage. These factors cumulatively make it a preferred choice among end user and in turn translate into the increased demand for active and modified atmospheric packaging.
Leading players in the global active and modified atmosphere packaging market include Amcor Limited, Sealed Air Corporation, Berry Plastics Corporation, Bemis Company Inc., Linpac Packaging, Coveris Holdings S.A, Winpak Limited Company, ULMA Packaging S. Coop and Ilapac International S.A. Companies have been mostly focused on geographical and capacity expansions in order to secure a top spot among the global leaders.
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