Rapid Growth Predicted for North America Meat Packaging Market
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.
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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.
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Key Takeaways from FMI’s Fresh Meat Packaging Market Study
- Ethylene Vinyl Alcohol (EVOH) material segment is expected to grow at more than 4% CAGR owing to its eco-friendly nature and high recyclability.
- Modified atmosphere packaging technology is predicted to expand at more than 2.6% CAGR owing to its superior aesthetics and improved shelf life.
- 7-layer segment will generate the highest revenue followed by 5-layer segment as they offer extended shelf life, protects meat from bacteria like salmonella.
- U.S. will account for more than 80% share of the North America market backed by increasing consumption and export of poultry and beef and presence of modern processing infrastructure in the country.
“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.
Competitive Landscape
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.
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
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