The meat packaging market is expected to register positive growth through 2021, with the overall valuation forecast to reach US$ 6.9 Bn. Future Market Insights projects meat packaging sales to increase at 4.7% CAGR between 2021 and 2031.
The global meat packaging market is estimated to grow by 1.6x during the forecast period, reaching a volume of 3.5 million tons in 2021. Growing consumption of fresh and processed meat products and developments in material and design will support long term growth.
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Some of the key players operating in the global meat packaging market are Amcor Plc, Berry Global Inc., Winpak Ltd., Sealed Air Corp., Mondi Group, Amerplast Ltd., Faerch Plast A/S, Bollore Group, Constantia Flexibles Group GmbH, Sonoco Products Company, Thantawan Industry Plc and Cascades Inc.
The selection of clear packaging forms is gaining traction among meat packaging producers. Clear packaging has become increasingly popular owing to its functionality, especially with regards to promoting transparency in business, which is key to achieving faith and confidence among consumers.
Transparency of a package is extremely crucial in terms of product quality. The growing requirement for clear and genuine packaging is rising on a large scale, particularly in the food and beverages industry.
See-through packaging is accomplished by using films for superior gloss and excellent transparency. This additionally reduces prices for printing and labelling, as compared to opaque alternatives. Consequently, the appropriation of such packaging solutions is anticipated to expand the sales of meat packaging in the near future.
Various advancements in technology and powerful automated production lines have opened possibilities for the meat packaging businesses. A recent development in the industry is high-pressure processing (HPP), which does not require heat while packaging meat products.
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It is a post-processing method that uses cold pasteurization. In this procedure, packed meat products are placed within a tremendous level of isotactic pressure. The high-pressure processing technique is adopted for prolonging the shelf-life of the product. This innovative packaging system enables meat producers in supporting product differentiation from competitor offerings.
Key Takeaways of Meat Packaging Market Study
Polyethylene (PE) plastics are gaining traction owing to their superior barrier attributes. The segment is forecast to expand by 1.7x of its current valuation, generating incremental opportunity of approximately US$ 2.5 Bn.
Modified atmosphere packaging technology will account for more than 40% of the market share by the end of 2031. The demand for the technology will increase due to its aesthetic appeal and improved shelf-life.
China will hold 42.3% of the East Asia market in 2021, driven by a vast non-vegetarian consumer base.
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Impact of COVID-19 on Meat Packaging Market
Meat packaging is gaining traction owing to benefits such as extended shelf-life and cost-effectiveness. COVID-19 has caused disruptions in several end-use industries because of which the meat packaging market was hurt in 2019.
The pandemic also caused disruption in supply chain and global sales. Most raw materials are sourced through imports. Raw supplies are dispatched to meat packaging producers and then to the merchants of various countries for business and shipping across the globe.
However, because of the extensive restrictions prompted by the pandemic across manufacturing plants, the meat packaging market has witnessed a slowdown in production and adoption.
The food and beverages industry will register impressive growth in the post-pandemic era, which will push the demand for meat packaging in the near future. Frequent investments into research and development is anticipated to boost sales by 2020.