The increasing focus on health and hygiene is anticipated to drive the growth of the plant-based meat packaging market. By 2033, the industry is projected to attain a market share of US$ 144.2 million in the United States, with a compound annual growth rate (CAGR) of 4.6%. Similarly, in the United Kingdom, the plant-based meat packaging sector is expected to reach a market share of US$ 13.8 million, expanding at a CAGR of 1.8% throughout the forecast period.
/EIN News/ — NEWARK, Del, July 11, 2023 (GLOBE NEWSWIRE) — The growth of plant-based meat is driven by the rising trend of plant-based food diets. Also, with the rise in the consumption of packaged food due to the busy schedule and the rising concern towards hygiene, the growth of the plant based meat packaging market can be seen. The growth of the market increases due to the rise in the shifting preferences of people towards a vegetarian diet.
With the rise in health issues, consumer preference is shifting towards plant-based meat rather than animal-based meat. Due to the increase in the consumption of ready-to-eat products, market expansion can be seen. Most of the companies are using packages that are mostly made of synthetic material, which is generally used for keeping the food fresh for a long time. As the material should be long-lasting, the companies are manufacturing products that are sustainable for longer periods of time.
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Key Takeaways from this Market:
- The plant-based meat packaging industry in the United States is predicted to reach US$ 144.2 million by 2033, increasing at a 4.6% CAGR.
- The plant-based meat packaging industry in the United Kingdom is estimated to reach a market share of US$ 13.8 million, expanding at a CAGR of 1.8% by 2033.
- During the forecast period, the plant-based meat packaging industry in China is expected to reach a market share of US$ 131.3 million, securing a 6.0% CAGR.
- With a CAGR of 5.4% from 2022 to 2033, the plastic segment is expected to dominate the plant-based meat packaging industry.
- With a CAGR of 5.1% from 2022 to 2033, the pouch segment is expected to dominate the plant-based meat packaging industry.
How Does the Competition Look in this Industry?
The plant-based meat packaging industry has a highly competitive landscape, with a significant increase in the number of players vying for market share. Several significant participants in this industry comprise Amcor Plc, Sealed Air Corporation, Berry Global Inc., and Oji Holdings, among other companies.
To provide improved effectiveness, dependability, and affordability, the major key players are investing in research and development. The major players are concentrating on reinforcing their distribution channels and broadening their range of products to meet the changing demands of clients.
Major key players to fortify their market standing and acquire entry to fresh markets are utilizing mergers and acquisitions. The industry is experiencing growth in emerging markets such as India and China.
By strengthening their distribution networks and establishing local manufacturing facilities the major key players are expanding their presence in these markets.
Major Players are:
- Amcor Plc
- Sealed Air Corporation
- Berry Global
- Oji Holdings
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Segmentation Analysis:
By Material Type:
- Plastic
- Paper
- Plant-based Films
- Others (Glass, Metal, etc.)
By Packaging Type:
- Trays
- Pouches
- Wrappers
- Cartons
- Others (Cans, etc.)
By Product Type:
- Plant-based Burgers
- Plant-based Sausage Products
- Plant-based Meat Products
- Others (Plant-based Nuggets, etc.)
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa
Table of Content (ToC):
- Executive Summary
- Market Overview
- Key Market Trends
- Key Success Factors
- Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033
- Global Market – Pricing Analysis
- Global Market Demand (in Value or Size in US$ Million) Analysis 2018 to 2022 and Forecast, 2023 to 2033
- Market Background
- Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material Type
- Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Packaging Type
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Explore Trending Reports of Packaging:
Plantable Packaging Market Demand: Growing need for sustainable packaging: As people become more aware of the environmental impact of plastic waste, there is a greater demand for sustainable packaging alternatives. Plantable packaging, created from natural and biodegradable materials, is an excellent choice for ecologically aware consumers.
Plant Based Packaging Market Growth: The global sales of plant-based packaging are expected to grow at 6.7% in 2021. However, the overall ten-year compound annual growth rate (CAGR) remains positive during 2021-2031.
Smart Plant Based Food Packaging Market Size: Smart plant based food packaging not only extends the life of the food product but also eliminates the need for environment-harming plastic. The global smart plant-based food packaging market can be segmented on the basis of product type, material type, and region.
Meat Packaging Market Trends: In recent years, there has been a dramatic rise in the production and consumption of meat and poultry products worldwide due to their high nutritional content, and this trend is expected to further escalate during the projection period. For instance, as per the Institute of Food Technologies (IFT), Worldwide meat consumption is expected to rise 1.4% per year through 2023. This will elevate the demand for meat packaging solutions.
North America Fresh Meat Packaging Market Outlook: The North American fresh meat packaging market is expected to attain a valuation of US$ 724.4 million in 2023 and is projected to reach US$ 1,070.9 million by 2033. As per FMI’s study, fresh meat packaging demand in North America is expected to rise at a CAGR of 4% from 2023 to 2033.
Meat, Poultry and Seafood Packaging Market Value: Packaging for meat, poultry, and seafood are made to meet all physical requirements throughout the supply chain, ensuring that the product will arrive on time and retain its nutritious value, texture, and flavor. Additionally, an eye-catching appearance is necessary for sales, thus high-quality printed boxes enable the use of color and images to promote the products or the brand itself and accomplish marketing goals.
Meat Packaging Films Market Volume: The meat packaging films market is projected to reach US$ 7 Billion by 2031, and would grow by more than 5% CAGR, during the assessment period 2021 to 2031. Packaging films are thin plastic layers used to pack various food products such as dry foods, liquid & semi-solid food, meat, cheese, snack items, biscuits, dairy products, and other bakery items.
Processed Meat Packaging Market Sales: Fast-paced lifestyles and an increasing number of salaried workers have raised the consumption rate of ready-to-eat food products, which is expected to spur sales of processed meat packaging. The packaging’s main objective is to protect the goods. Meat must be covered in packaging to prevent contamination, maintain freshness, and extend shelf life.
Egg Carton Market Share: Europe accounted for a sizable share of the egg packaging market. Europe prospers at providing essential services required for the food and beverage industries, and eggs are a crucial part of a balanced diet. As a result, this region is expected to experience explosive growth in the global egg cartons market.
Egg Packaging Market Types: The egg packaging box price differs based on the egg packaging material used. The newly developed taste for different cuisines involving different egg types is also fueling sales of egg packets. It has been possible due to the quick transportation and logistics operations. FMI explains that the growth is expected to strive in the future as people become health aware and understand the protein requirement of the human body.
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Originally published at https://www.einpresswire.com/article/644041540/global-plant-based-meat-packaging-market-is-estimated-to-hit-us-987-0-million-at-8-8-during-the-forecast-period-2023-to-2033-future-market
