Supermarket Perimeter - September 2023 - 56

Meat & Poultry
Packaging
By Andy Nelson
MEAT CONSUMPTION IS ON THE RISE WORLDWIDE, and with it
has come an increased demand for better and more environmentally
friendly forms of packaging.
And that trend will only accelerate over the next decade.
Those are among the highlights of a new long-term study of meat
packaging, Meat Packaging Market Global Industry Analysis 2016-2022
and Opportunity Assessment 2023-2033, conducted by London-based
Future Market Insights.
" In recent years, there has been a dramatic rise in the production and
consumption of meat and poultry products worldwide due to their high
nutritional content, and this trend is expected to further escalate during
the projection period, " according to the report, which cites Institute
of Food Technologies data projecting meat consumption to rise 1.4%
annually.
Future Market Insights predicts the global meat packaging industry,
meanwhile, to generate incremental growth opportunity of $ 5.1 billion
between 2023 and 2033.
" Increased consumption of packaged food, growing concern towards
hygiene, and the quality of packaging that help extend the shelf life
without altering the properties of meat products drive the fresh meat
packaging market growth, " according to the report.
Per capita consumer spending on packaged food is increasing in
emerging markets, according to FMI. Rising income levels and changing
consumer spending pattern propel the demand for innovative food
packaging solutions in emerging markets.
In North America, rising demand for suitable packaging that extends
the maximum shelf life of meat products due to the busy lifestyles of
consumers has resulted in increased application of meat packaging.
In the meat type segment, poultry dominates all types of meat by
market share of above 35% during the forecast period, while the seafood
segment is expected to boost at a CAGR of 5.1%.
The modified atmosphere packaging technology segment is
estimated to dominate the global meat packaging market by value and
volume, according to the report.
Modified-atmosphere packaging currently makes up 38.4% of the
meat packaging market, followed by vacuum skin (30.3%) and vacuum
thermoformed (22.4%).
By 2033, modified-atmosphere's share of all meat packaging is
projected to top 40%.
" Modified-atmosphere has easy-open film with a firm and consistent
peel, improving customer convenience and enabling products to be
more visible on the shelf. "
When it comes to materials, polyethylene (PE), the industry leader, is
expected to expand to 1.7 times of its current market value by the end of
2033, according to the materials.
" The PE segment is expected to
dominate the overall market by value
and volume throughout the forecast
period, " according to FMI. " The
chemical properties of polyethylene
give excellent transparency, gloss
and barrier from moisture, added
with durable and tight packaging. "
Properties such as excellent
chemical and tear resistance, highly
economic, and transparent packaging
will continue to drive demand for
PE, according to the report.
$7.4 B
$12.2 B
current value of the meat
packaging market
projected value of meat
packaging market in 2033
56 - SEPTEMBER 2023
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