Global Skin Packaging Market - Drivers and Forecasts by Technavio

Technavio has published a new report on the global skin packaging market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--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.”

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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.

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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.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com