Global Seafood packaging market was valued US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027, at a CAGR of 5.4% during a forecast period. Seafood Packaging Market looks favorable throughout the forecast period owing to the main fuelling factors like government initiatives towards food safety…
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Global Seafood packaging market Dynamics
The Research Report gives a detailed account of the drivers and restraints in the seafood packaging market. The seafood packaging market is projected to grow because of the increasing demand for seafood. People are gradually demanding seafood both in fresh and processed forms. This is providing profitable chances for prominent packaging providers in the global market. The upsurge in demand for seafood is because of their increasing usage in commercial cookeries and dishes around the globe. Currently, many restaurants and hotels are favoring to buying fresh seafood rather than the frozen to serve better to their consumers. This helps to fuel the growth of the seafood packaging market.
The introduction of the latest technology that is catering to the necessities of the end-users. Seafood is a tremendous source of vitamins, proteins, and minerals, which provides many health benefits. It provides essential fatty acids that help to decrease the risk of cardiovascular diseases and contribute to brain and vision development. The upsurge in awareness related to the health benefits regarding the seafood propelling the growth of the seafood packaging market.However, High costs related to some of the current and newer packaging technologies are also projected to hinder the growth of the seafood packaging market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Global Seafood Packaging Market Segment analysis
Based on Technology, the modified atmosphere packaging segment is expected to grow at a CAGR of XX% during the forecast period 2020-2027. Modified Atmosphere Packaging (MAP) is a technique used for prolonging the shelf-life period of fresh or slightly processed foods. In this preservation technique, the air surrounding the food in the package is altered to another composition. By this technique, the initial fresh state of the product may be prolonged. It is reported that there is a considerable increase of up to two or even three-fold in the shelf-life of fish packed in the modified atmosphere compared to that of fish packed in air. Usually, higher initial CO2 levels types of products, where the combination of gases in the package hinge on the storage temperature, type of product, and packaging materials. Fish need very low gas permeability films so for non-respiring products like meat, and fish, high barrier films are used.
Global Seafood Packaging Market Regional analysis
The Asia Pacific region was dominating with US$ XX Mn in 2019 because of rising export of scallops, oysters, and squids around the world. Asia-Pacific is one of the main and largest developing seafood markets in the world. China is a high growth market and it has the capacity to wage more for best and high-quality seafood therefore impelling the growth of the market. In countries like India, fish farming is a lucrative and fruitful commercial business. China only accounted for nearly 35% of the global market share in 2019.
Global Seafood packaging market Recent Developments and Acquisitions
• On January 21, 2020 – Sealed Air Corporation the original inventor of BUBBLE WRAP, has launched a new version of BUBBLE WRAP brand packaging material that is made with at least 90 percent recycled content.
• In May 1, 2019 – Sealed Air Corporation announced that they had signed a definitive agreement to acquire Automated Packaging Systems, Inc. (APS), a leading manufacturer of high-reliability, automated bagging systems, for a purchase price of $510 Mn on a cash and debt free basis.
• In February 11, 2019 - Sealed Air Corporation had acquired MGM’s flexible packaging business. MGM is a privately held company headquartered in Manila, the Philippines.
The objective of the report is to present a comprehensive analysis of the Global Seafood Packaging Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Seafood Packaging Market dynamics, structure by analyzing the market segments and project the Global Seafood Packaging Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Seafood Packaging Market make the report investor’s guide.
Scope of the Global Seafood Packaging Market : Inquire before buying
Global Seafood Packaging Market, By Product Type
• Flexible Packaging
• Rigid Packaging
Global Seafood Packaging Market, By Technology
• Modified Atmosphere Packaging
• Vacuum Packaging
Global Seafood Packaging Market, By Material
o High Density Polyethylene (HDPE)
o Low Density Polyethylene (LDPE)
o Polypropylene (PP)
o Polyamide (PA)
o Polyethylene Terephthalate (PET)
o Poly Vinyl Chloride (PVC)
• Paper & Paperboard
o Others (Fiber, Wood, etc.)
Global Seafood Packaging Market, By Application
• Fresh and Frozen Products
• Processed Products
• Ready-to Eat Products
Global Seafood Packaging Market, by Regions
• North America
• Latin America
• Middle East and Africa (MEA)
Key Players operating the Global Seafood Packaging Market
• Sealed Air
• DS Smith
• Bemis (Amcor)
• Pactiv (Reynolds)
• Berry Global
• Constantia Flexibles (Wendel)
• Clondalkin Group
• Smurfit Kappa
• Victory Packaging
• AEP Industries Inc.
• Amcor plc
• Silgan Holdings Inc.
• SIRANE GROUP
• FFP Packaging Ltd.
• ULMA Packaging
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