Fresh Meat Packaging Market Will hit at a CAGR of 2.2% from 2016 to 2026
Future Market Insights (FMI) delivers key insights on the North America fresh meat packaging market in its latest report, titled “Fresh Meat Packaging Market: North America Industry Analysis and Opportunity Assessment, 2016 – 2026.” In terms of revenue, the North America fresh meat packaging market is expected to expand at a CAGR of 2.2% over the forecast period (2016–2026), owing to numerous factors, about which FMI offers thorough insights and forecasts in this report.
To provide in-depth insights, a detailed consumer preference analysis was carried out at each level of the value chain, which includes film convertors, packaging equipment manufacturers, meat producers/co-packers and retailers. Some of the key highlights from the analysis include, preferred packaging technologies for different types of meat products, factors impacting purchasing decision of packaging materials and most commonly used layer types.
Two individual markets, namely North America fresh meat packaging film and North America fresh meat packaging equipment were collectively considered to arrive at data regarding the North America fresh meat packaging market. North America fresh meat packaging film market is segmented on the basis of packaging format, meat type, packaging material, layer type and country. On the basis of packaging material, the market is segmented into PE, PVC, BOPP, PA, EVOH, PP and others. In terms of value, EVOH segment is anticipated to register a CAGR of 2.7% during the forecast period. On the basis of layer type, the market is segmented into monolayer, 3-layer, 5-layer, 7-layer and 9-layer. Among all layer type segments, 7-layer segment is anticipated to exhibit the highest revenue growth, followed by 5-layer segment over the forecast period. On the basis of packaging format, the market is segmented into MAP, VTP, VSP and others. In terms of value, MAP segment is expected to register a CAGR of 2.6% during the forecast period. On the basis of meat type the market is segmented into beef, pork, poultry and others. Among all meat types, beef segment is anticipated to remain dominant during the forecast period. On the basis of country, the market is segmented into the U.S. and Canada.
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A key trend defining the market is that of major players focusing towards enhancing their product portfolio and expanding their customer base by entering into strategic mergers and acquisitions. Furthermore, film convertors are also increasingly focused on down gauging and optimisation of packages size to offer eco-friendly and cost-effective solutions to meat producers, co-packers and retailers.
This report assesses trends driving growth of meat packaging, and offers key takeaways that could prove substantially useful to manufacturers across different levels looking to enter into the market. The U.S. has been estimated to dominate the North America fresh meat packaging market, accounting for maximum revenue share of the market by 2016 end.
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Key players in the North America fresh meat packaging market were identified at each level of the value chain. At film convertor level, some of the key players are Bemis Company, Inc., Winpak Ltd., Sealed Air Corp., Berry Plastic Group, Inc., and Coveris Holdings S.A. At packaging equipment manufacturers level, some of the key players are Multivac Sepp Haggenmüller GmbH & Co.KG, Robert Reiser & Co, Harpak-ULMA Packaging, LLC, ALKAR-RapidPak, Inc., and Sealpac International BV. At meat producer level major player covered in the report include Tyson Foods, Inc., JBS SA ADR, Cargill Meat Solutions Corporation, National Beef Packing Company, LLC., and Hormel Foods Corporation. At the retailer level, some of the key players identified were Wal-Mart Stores, Inc., The Kroger Co., Costco Wholesale Corporation, Whole Foods Market IP. L.P., and Wegmans Food Markets Inc. At the retailer level, some players are focusing on private label products and regional expansion through setting up new stores. The ‘Competitive Landscape’ is included to provide report audiences with a dashboard view and company share.