Pune, India -- (SBWIRE) -- 04/18/2018 -- Berry Global Group, Inc. (US), Bemis Company Inc. (US), Sealed Air Corporation (US), Smurfit Kappa Group PLC (Dublin), DuPont (EI) de Nemours (US), Cascades Inc. (Australia), Printpack, Inc. (US), Vector Packaging (US).and LINPAC Packaging Limited (UK) are some of the key players at the forefront of the competition in the Meat, Poultry, Seafood Packaging global Market and profiled in MRFR Analysis.

Global Meat, Poultry, Seafood Packaging Market – Overview

Meat, Poultry, & Seafood items demand extra packaging care that can control the unwanted microbial growth and sensory deterioration. Over the past few years, a number of technologies have been introduced in the market to suffice the demand for the effective packaging of food animals. Due to which, the market for the Meat, Poultry, & Seafood Packaging has been growing steadily. Moreover, increasing population coupled with the augmenting demand for the convenience food worldwide, propels the market growth to an extent.

Acknowledging the prominence and the value this market is garnering currently and the growth prospect the market is demonstrating worldwide, Market Research Future (MRFR), recently published a brilliant study report giving out the complete market insights up till 2023. According to MRFR, the Global Meat, Poultry & Seafood Packaging market is expected to accrue up to USD 45,635.26 Million by 2023, registering a CAGR of 4.10% during the review period (2017-2023)

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Other factors propelling the market growth include the increasing pollution, growing urbanization & industrialization coupled with the growing economic conditions that improves consumers' quality of life, increasing their affordability. Technological advancements transpired in the packaging technologies are predominantly fostering the market growth by introducing active and intelligent packaging solutions.

On the other hand, stringent regulations and lack of technical competencies in maintaining the proper sanitation are hampering the market growth. Also the cost associated with the manpower & the manufacturing are impacting the market growth substantially. Conversely, the technological improvements are likely to present cost-effective solutions for manufacturing, which coupled with the increasing demand especially in the developing markets is expected to provide impetus to the market growth.

Global Meat, Poultry, Seafood Packaging Market – Competitive Analysis

The market appears to be highly competitive and fragmented owing to the presence of several large and small key players accounting for a substantial market share. These key players incorporate acquisition, partnership, collaboration, expansion, technology & product launch in order to maintain their market position. Manufacturers are striving to find ways to reduce raw material prices. Raw material suppliers apply the power to determine prices of raw materials, which has an impact on the business.

Innovation/Industry/ Related News:

March 05, 2018 – Dalehead Foods (UK), a leading supplier of meat products, launched a range of ready-to-eat turkey products sold in one of its kind - recyclable paperboard packaging.

March 01, 2018 – Sirane Ltd (UK), a leading global supplier of Food packaging products, introduced its new - plastic-free compostable food pouch - Earthpouch, at the 2018 - Packaging Innovations event, UK.

March 11, 2018 – Maxwell Chase Technologies, LLC. (US), a leading global CSP Technologies packaging company, specialized in the packaging solutions for the food industry, introduced - first-of-its-kind, active packaging solution - SeaWell Seafood Trays at the Seafood Expo North America in Boston. These trays can significantly extend the shelf life of seafood.

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Global Meat, Poultry, Seafood Packaging Market – Segments

The Meat, Poultry, Seafood Packaging Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;

By Types : Vacuum Skin Packaging, Modified Atmosphere Packaging, Rigid Packaging, and Flexible Packaging among others.

By Materials : Comprises Plastic, Paper and Metal among others.

By Applications: Fresh & Frozen Products, Processed Products, and Ready-to–Eat Products, among others

By Regions : North America, Europe, APAC and Rest of the World.

Segment Plastic by Materials, in 2016, accounted for the largest as in, 58.48% of the market share and a market value of USD 20,595.4 Million.

Segment Paper by Materials, in 2016, accounted for the second largest segment valuing USD 8,972.1 million. The segment is further expected to grow at a CAGR of 3.75% during 2017- 2023.

While, on the basis of packaging technology, Modified Atmosphere Packaging held the largest market share of 44.34% in 2016, with a market value of USD 15,614.1 million. The segment is estimated to grow at 4.35% of CAGR during 2017- 2023.

On the other hand, Segment - Vacuum Skin Packaging on the basis of packaging technology, valued at USD 13,064.5 million in 2016.

On the basis of Application, segment - Fresh & Frozen Products accounted for the 47.23% of the market share and a market value of USD 16,632.7 million, in 2016.

While, on the basis of Application, segment - Processed Products valued at USD 11,307.5 million in 2016. The segment is further expected to register 3.96% of a CAGR during 2017- 2023.

However, Segment - Ready-to-Eat Products, by Application, will register the highest CAGR of 4.28% during the forecast period.

Global Meat, Poultry, Seafood Packaging Market – Regional Analysis

Globally, North America market accounts for the leading market in the global Meat, Poultry, and Seafood Packaging Market. In 2016, the market held the largest as in, 34.84% of the market share, valuing USD 12,270.3 Million. Owing to the consumers' inclination towards the convenience food products; the market is projected to grow at the 4.61% of a CAGR during the review period.

While the second-largest market for the Meat, Poultry, and Seafood Packaging, Europe, valued at USD 9,739.2 million in 2016. Attributing to the augmented adoption of eco-friendly techniques for packaging of food products in the region, the Europe market is expected to grow at 3.89% of a CAGR. In addition, factors such as increased disposable income that increases consumers' affordability & quality of life, coupled with the augmented demand for the convenience food & growing awareness of packaged food among consumers in the region are also fuelling the growth of the regional market.

Whereas Asia-Pacific region emerging as the fastest growing market for the Meat, Poultry, and Seafood Packaging. Attributing to the factors such as emergence of active and intelligent packaging solutions coupled with the growing demand for flexible packaging; the regional market will register a CAGR of 4.10% during 2016 to 2023.

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