Market Size of Meat Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.37 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Meat Packaging Market Analysis
The Meat Packaging market was valued at USD 12.1 billion in 2020 and is expected to reach USD 13.65 billion by 2026, at a CAGR of 4.37% over the forecast period 2021 - 2026. With the growing demand for meat products, the demand for quality and attractive meat packaging is rising. Packaging can help in maintaining the existing quality of meat and delay the onset of spoilage by controlling the factors that contribute to it.
- One of the important factors in meat packaging is the type of meat being packaged. Large pork and beef packing plants use vacuum packaging to preserve meat. Vacuum packaging removes oxygen within the package that helps to preserve the meat within the packaging. Grocery stores mostly use a stretchable plastic meat film coupled with a bottom foam tray.
- According to the OECD and FAO, the per capita meat consumption across the world is 34 . 4 kilograms in 2019 and is projected to increase to 34 . 9 kilograms by 2024. There is a strong demand for products like packaged meat, mainly because most of the consumers across the world are preferring the convenience of ready -to -serve foods . For instance, as per the US Department of Agriculture and Economic Research Service, in 2017 , the most consumed type of meat in the United States was broiler chicken, at about 91 pounds per capita . This is expected to increase to 94 . 3 pounds per capita by 2028 . As per the American Institute for Packaging and the Environment, in 2017 , around 68 % of meat in the country was packaged.
- According to the US department of agriculture, the volume of cold storage of frozen red meat amounted to 1101.5 million pounds in FY2019, while foods like frozen poultry amounted to 1,212.92 million pounds, respectively.
- With the recent outbreak of COVID 19, the active packaging manufacturers have been flooded with a pool of issues that are expected to remain only for the short-term. Some of the effects of lockdown include supply chain disruptions, lack of availability of raw materials used in the manufacturing process, labor shortages, fluctuating prices that could cause the production of the final product to inflate and go beyond budget, shipping problems, etc.
- A rash of COVID-19 outbreaks at dozens of meat packaging plants across the United States is far more extensive than previously thought, according to an exclusive review of an Industry Insider. More than 150 of America's major meat processing plants operate in counties where the rate of coronavirus infection is already among the nation's highest, based on the media outlets' analysis of slaughterhouse locations and county-level COVID-19 infection rates.
