Vacuum Skin Packaging Market Forecast, Developments & Future Scope To 2023
Vacuum Skin Packaging Market - Overview
The global vacuum skin packaging market is a very dynamic market and is expected to witness high growth over the forecast period. The growth of market is influenced by increased consumption of meat and poultry and increased government policies regarding food safety. However, stringent regulations on packaging material waste and recycling expected to hinder the growth of the vacuum skin packaging market.
The meat consumption has continued to rise in the U.S., European Union, and developed world. There is seen a shift toward poultry from meat, however red meat still represents the largest proportion of meat consumed in the U.S. The demand for meat in developing countries continues to grow as the production and consumption of meat increases with increasing disposable income. There is seen a shift in the dietary pattern in developing countries which is marked by high meat consumption. This drives the demand of packaging material and technology for the meat, poultry and seafood packaging which is an expanding industry that utilizes the vacuum skin packaging.
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With the increasing adoption of convenience shopping, the retail sector is growing rapidly. The retail sector is booming, owing to factors such as favourable demographics, rising consumer incomes and real estate developments, especially the emergence of new shopping malls. With the emergence of consumerism, the retailer faces a more knowledgeable and demanding consumer. This has pushed the demand for packaging across the vegetables, fruits, meat and poultry products.
There is seen an expanding role of government and other agencies to ensure food safety on a global platform. Government agencies are responsible for setting food safety standards, conducting inspections, ensuring that standards are met, and maintaining a strong enforcement program to deal with those who do not comply with standards. The Food Safety Modernization Act (FSMA), enables the Food and Drug Administration (FDA) to better protect public health by strengthening the food safety system. This also includes packaging and product information. Such policies fuel the demand for vacuum skin packaging across the food industry, especially to package meat, poultry and seafood. Vacuum skin packaging technology is used exclusively for packaging of fresh, processed and ready-to-eat food items to extend the shelf life, retain taste and color along with other additional benefits.
APAC is expected to experience the fastest growth during the forecasted period due to the economic growth of China and India. The rising population of the region, along with high disposable income and the demand for safe & hygienic packaging of products are factors driving the growth of the vacuum packaging market in this region.
North America accounts for the second largest market share. According to the North American Meat Institute (NAMI), the meat and poultry industry is the largest segment of U.S. agriculture. Total meat and poultry production in 2012 reached more than 93 billion pounds. There is an immense need for proper packaging of such meat products, which will ensure longer shelf life of the meat products. For this reason, vacuum skin packaging market is gaining traction in the U.S. region.
Bemis Company Inc. (U.S.), Berry Global Group, Inc. (U.S.), LINPAC Packaging Limited (U.K.), Amcor Ltd. (Australia), Sealed Air Corporation (U.S.), DuPont (U.S.), G. Mondini SA (Italy), and Green Packaging Material (Jiangyin) Co., Ltd. (China) are some of the prominent players at the forefront of competition in the global vacuum skin packaging market and are profiled in MRFR Analysis.
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