LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global skin packaging market to grow at a CAGR of close to 6% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global skin packaging market for 2017-2021. The report also lists carded skin packaging and non-carded skin packaging as the two major segments based on the type of skin packaging, of which the carded skin packaging accounted for close to 60% of the market share in 2016.
According to Sharan Raj, a lead analyst at Technavio for packaging research, “Skin packaging is used across industry verticals as it provides external protection, is visually appealing, and is cheaper when compared with other forms of packaging. This form of packaging is primarily used in the food industry for food products such as cheese, fresh and processed meats, poultry, seafood, snacks, and ready-to-eat meals.”
Request a sample report: http://www.technavio.com/request-a-sample?report=57049
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Technavio transportation and logistics analysts highlight the following three market drivers that are contributing to the growth of the global skin packaging market:
- Demand for increased shelf life of food products
- Introduction of innovative skin packaging
- Rising demand for food packaging
Demand for increased shelf life of food products
The food and agriculture organization (FAO) estimates that nearly one-third of the food produced for human consumption, approximately 1.3 billion tons worth USD 990 billion, is lost and wasted annually in industrialized and developing countries.
Packed products such as meat, bakery, confectionery, and dairy products are wasted if they are not sold within a month of their packaging and leads to financial losses for the retailers. To overcome this obstacle, vendors adopt active packaging such as vacuum packaging that increases the shelf life and retains the quality of the packaged foods. The use of films with barrier properties will also help to enhance shelf life and reduce leakage.
Introduction of innovative skin packaging
Due to a rise in demand for food products, vendors invest in innovative technologies to create unique packaging materials. Manufacturers of skin packaging focus on product differentiation to meet customer requirements. For instance, Maple Leaf Farms, a producer of quality duck products, switched to vacuum skin packaging for its meat packaging. The vacuum skin packaging overtook the carton on all positive descriptors such as taste, premium product, health, and gourmet products. This technology offers benefits such as a clear sight of the entire product so that the consumers can inspect the quality and size of the product. Moreover, it lessens packaging materials by about 17% and offers an easy peel corner for convenient package opening. For retailers, these products offer multiple display possibilities as the packaging allows the products to be displayed in modified trays or on a pegboard.
Rising demand for food packaging
With improved economic conditions in developed countries and with rising disposable income in developing countries such as China, India, and Saudi Arabia, the demand for packaged food has been increasing. This has led to increased demand for packaging solutions and products, and it has propelled the demand for skin packaging products.
“Food processing market vendors are demanding an increased number of packaging products and solutions with unique designs to meet their increased production requirements and help create product differentiation, as these are the major factors that enable them to stay ahead of their competitors,” says Sharan.
Browse Related Reports:
- Global Cosmetic Tubes and Jars Market 2017-2021
- Global Pharmaceutical Packaging Market 2016-2020
- Global Flexible Intermediate Bulk Container Market 2017-2021
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like tags and labels; transportation and distribution; and warehouse and storage. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.
About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at media@technavio.com.
