Meat Packaging Market size was over USD 11.42 billion in 2023 and is anticipated to exceed USD 19.74 billion by the end of 2036, growing at over 4.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of meat packaging is evaluated at USD 11.81 billion.
The growth of the meat packaging market can be attributed to the growing consumption of meat globally, mainly pork and beef, upgraded storage units for frozen foods, and the surging demand for flexible meat packaging. According to the Food and Agriculture Organization of the United States (FAO), the global meat consumption per capita is forecasted to rise up to 35.4 kg retail weight equivalent (r.w.e) by the end of 2027. Furthermore, rise in disposable income of the worldwide population is also predicted to fuel the growth of the market in the near future. Along with these, improvement in transportation services in the previous years is a significant factor projected to offer opportunities for market expansion.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
4.3% |
|
Base Year Market Size (2023) |
USD 11.42 billion |
|
Forecast Year Market Size (2036) |
USD 19.74 billion |
|
Regional Scope |
|
The market is segmented by packaging technology into modified atmosphere, vacuum skin, and vacuum thermoformed, out of which, the modified atmosphere segment is anticipated to hold the largest share in the meat packaging market and is expected to grow with the highest CAGR during the forecast period. This can be accounted to the properties such as enhanced manufacturing capacity, longer shelf life, and improved freshness cycle of products packaged by this technique. Apart from these, modified atmosphere packaging also offers benefits to manufacturers owing to reduced production and labor costs, which in turn is estimated to drive growth to this market segment in the coming years. Additionally, based on material, the segment for plastic is assessed to grab the largest market share in 2021 and continue this trend over the forecast period as plastic films are capable of keeping meat and other perishable products fresh for longer periods.
Our in-depth analysis of the global meat packaging market includes the following segments
|
By Material |
|
|
By Packaging Technology |
|
|
By Meat Type
|
|
On the basis of geographical analysis, the meat packaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Asia Pacific industry is predicted to account for largest revenue share by 2036, driven by increasing industrialization, rise in disposable income of the population, coupled with growing consumption of beef and pork in the region. According to the data given by Organization for Economic Co-operation and Development (OECD), Korea had the highest consumption of pork in 2019, amounting to 31.2 kilograms/capita.
North America Market Analysis
Moreover, the meat packaging market in North America and Europe are expected to hold notable shares in the market owing to the growing demand for meat products and the strong presence of industrial players. In addition to this, the change in lifestyle of urban population is evaluated to increase the utilization of pre-processed and packaged foods, which in turn is assessed to be a major growth driver for the market in these regions.
Author Credits: Abhishek Anil
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?