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The North America fresh meat packaging market is expected to grow at 3.1% CAGR surpassing the market valuation of US$ 788 million in 2021. The growth can be attributed to availability of customization in clear meat packaging and high demand for convenient packaging solutions among urban population. Future Market Insights (FMI) predicts that fresh meat packaging market sales will surpass 365,800 tons in North America by the end of 2021.
Future Market Insights in its latest market analysis discusses about the key trends shaping the fresh meat packaging market and highlights the strategies employed by market players to strengthen their market position. Market players are emphasizing on expanding their product portfolio to reach wider customer base. They are also inclined towards forming alliance and strategic merger and acquisition with other players.
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For instance, in April 2021, Coveris Holdings S.A. completed the acquisition of a profitable and stable business Initial Packaging Ltd which specialized in the production of specialty bags to focus on converted high end packaging solutions
At packaging equipment manufacturers level
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Competition in the North America market for fresh meat packaging is expected soar. FMI however forecasts Berry Global Group Inc., Amcor Plc, Sealed Air Corp., Bolloré Group, and Winpak Ltd. to remain dominant, accounting for nearly 15% to 20% of overall sales registered in 2021.
Market players are looking towards integrating recycled material in fresh meat packaging to replace the packaging solutions containing polystyrene foam tray and plastic film.
Growing consumer awareness and concern for non-biodegradable plastic has pushed market payers towards producing bio-plastics and molded fiber materials in compliance with performance requirements and standards set in packaging to keep the meat fresh for consumption.
Increasing consumption of animal meat especially poultry, pork, and beef in U.S. and Canada will boost the demand for fresh meat packaging solutions during the forecast period. Rapid urbanization and improved standard of living are the key factors directly influencing the consumption of animal products in these countries.
More than 354 million chickens were slaughtered in federally inspected slaughter houses in 2021 in Canada, according to Agriculture and Agri-Food Canada, Animal Industry Division.
Increasing slaughtering activities and establishment of retail chains and supermarkets has made animal meat readily available across North America. Rising demand for sustainable packaging which keeps meat fresh and offers stable shelf life has accelerated the sales of high barrier fresh meat packaging products.
COVID-19 pandemic hindered the fresh meat packaging production due to lack of raw material used in manufacturing and disruption of supply chain. As majority of raw materials are imported, lockdown and closure of trading routes slowed the production rate.
Market is expected to bounce back post pandemic. Investment in research and development of environment friendly packaging solution will boost the market growth.
Key Takeaways from FMI’s Fresh Meat Packaging Market Study
“Rising popularity of fresh processed meat products like hot dogs and rapid expansion of quick service restaurant chains and fast food joints like McDonalds will boost the demand for fresh meat packaging in North America,” says the FMI analyst.
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Key Segments Covered in Fresh meat packaging Market Study:
More Insights on the Fresh Meat Packaging Market
In its latest report, FMI offers an unbiased analysis of the North America fresh meat packaging market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the market potential in North America, its growth, and scope, the market is segmented on the basis of packaging format (modified atmospheric packaging, vacuum skin packaging, verteroplasty packaging, and others), material type (polyethylene, poly vinyl chloride, bi-axially oriented polypropylene, polyamide, ethylene-vinyl alcohol copolymer, polypropylene, and others), layer type (monolayer, 3-layer, 5-layer, 7-layer, and 9-layer), meat type (beef, pork, poultry, and others), across major regions of North America.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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Website: https://www.futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/north-america-fresh-meat-packaging-films-market
The post North America Fresh Meat Packaging Market Research Report 2021 – Forecast till 2031 appeared first on Future Market Insights.
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