Meat packaging sales to cross US$ 12.3 billion by 2033

A steady CAGR of 5.2% from 2023 to 2033

62
meat packaging
The US will continue to dominate the global meat packaging industry, accounting for a 15.2% share in 2023. Kyle Mackie/Unsplash

The global meat packaging market size is estimated to reach US$ 7.4 billion in 2023 and further exhibit a steady CAGR of 5.2% during the assessment period 2023 to 2033. The overall meat packaging sales are projected to surpass a valuation of US$ 12.3 billion by the end of 2033, says an analysis by Future Market Insights.

The growing consumption of protein-rich products, rising demand for packaged food products, and increasing focus on improving the shelf life of meat products are a few of the prominent factors driving the worldwide meat packaging industry.

Meat packaging is a type of packaging used to protect meat and meat products from mechanical, chemical, and biological hazards during processing, storage, and distribution. It is typically made from materials such as polyethylene, polypropylene, and polyvinyl chloride, and helps end users significantly improve the shelf life of meat products while retaining the original characteristics of the packaged items.

Increased consumption of packaged food, growing concern towards hygiene, and high demand for packaging that helps to extend shelf life without altering the properties of meat products are expected to boost meat packaging sales during the assessment period.

Future Market Insights predicts the global meat packaging industry to generate an attractive incremental growth opportunity of US$ 5.1 billion between 2023 and 2033.

USA prominent market for meat packaging

The rising consumption of meat and poultry products is fueling meat packaging sales in the US.

According to Future Market Insights, the US will continue to dominate the global meat packaging industry during the forecast period, accounting for around 15.2% share in 2023. Currently, it holds an 85% share of the North America meat packaging market.

Growth in the US meat packaging market is driven by the rising consumption of meat products, the growing focus of meat manufacturing and processing companies on improving the shelf life of their products, and the heavy presence of leading packaging giants.

According to the US Department of Agriculture (USDA) Economic Research Service, consumers in the United States had access to about 224.6 pounds of red meat and poultry based on per capita retail weight. This is positively influencing the meat packaging industry in the country and the trend is expected to continue during the assessment period.

Similarly, as per the Institute of Food Technologists (IFT), total meat and poultry consumption in the USA is set to surge at less than 1% per year through 2023. This rising consumption of meat and poultry products will boost meat packaging sales.

Demand rising across the United Kingdom

The United Kingdom’s meat packaging industry is anticipated to expand at 2.6% CAGR during the assessment period (2023 and 2033), generating lucrative revenues by the end of 2033.

The rising production and export of meat products such as beef and pork and the growing focus on using sustainable packaging solutions are driving the market for meat packaging across the United Kingdom.

According to the Agriculture and Horticulture Development Board (AHDB), the United Kingdom annually produces around 900,000 tonnes of beef, of which 148,000 tonnes are exported to several countries around the world. Subsequently, the country is the world’s fifth-largest producer and third-largest exporter of sheep meat. It exports about 88,000 tonnes of sheep meat annually.

For packaging, this high quantity of meat to save it from contamination as well as to enhance its shelf life during storage and transportation, companies use various types of meat packaging materials. This will continue to propel the demand for meat packaging across the United Kingdom during the assessment period.

Competitive Landscape

  • In 2021, a family-owned Italian company called Chola launched more sustainable packaging for its new product range.
  • In December 2022, Amcor announced the opening of a manufacturing facility, which is the largest flexible manufacturing plant in China.
  • In September 2022, Mondi announced the development of a high-barrier packaging solution made from mono-material polypropylene for bacon in collaboration with Austrian bacon producer Handl Tyrol.

·In March 2022, Winpak announced that it is broadening the recycling packaging solution by the introduction of Ultra-Pure Recycled Polypropylene from PureCycle Technologie.

LEAVE A REPLY

Please enter your comment!
Please enter your name here