LONDON--(BUSINESS WIRE)--According to the latest research study released by Technavio, the meat, poultry, and seafood packaging market in the US is expected to reach over USD 10 billion in revenue by 2020.
This research report titled ‘Meat, Poultry, and Seafood Packaging Market in the US 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various technology segments, including reverse osmosis, ion exchange, filtration, and distillation.
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“Sustainability is expected to gain increased market traction during the forecast period. Consumers are demanding packaging materials that are eco-friendly and sustainable. Vendors have increased their investment in R&D to develop packaging materials that can be recycled and are friction, moisture, and heat-resistant,” said Sayani Roy, one of Technavio’s lead analysts for packaging research.
“The AeroClay technology, developed by the Western Reserve University Lab, converts clay and other ingredients into a versatile material that is sturdy, eco-friendly, and temperature-resistant. It can be used as an insulated packaging material, and can keep products fresh for longer durations. The use of such products in the packaging of meat, poultry, and seafood has gained the interest of environment-conscious consumers, and bodes well for market growth over the next five years,” added Sharan.
Segmentation of meat, poultry, and seafood packaging market in US by application 2015 (share of revenue)
• Fresh and frozen products
• Ready-to-eat products
Source: Technavio research
Fresh and frozen meat, poultry, and seafood packaging market in US
The fresh and frozen meat, poultry, and seafood packaging market in the US was valued at USD 4.82 billion in 2015. The market for fresh and frozen meat, poultry, and seafood will grow steadily during the forecast period as fresh and frozen products can be refrigerated for later use and allow for convenient cooking. Frozen food packaging requires the use of high-quality materials that effectively protect the food product at temperatures of up to -40°F. Case-ready packaging and modified atmosphere packaging will register the highest growth in this market as these products significantly enhance the shelf life of the food while maintaining texture, taste, and quality.
Processed meat, poultry, and seafood packaging market in US
The processed meat, poultry, and seafood packaging market in the US was valued at USD 3.5 billion in 2015. This market will grow steadily during the forecast period owing to the growing acceptance of the convenience of processed products, relaxations in government policies such as the North American Free Trade Agreement (NAFTA), and the easy availability of raw materials such as polypropylene, polyethylene resin, and polyester. Processed food exports from the US have also grown in recent years, reaching a value of USD 50 billion in 2014.
The making of processed meat and poultry products involves processing or preparation steps such as grinding, adding ingredients, and cooking. Processed meats and poultry are also available in ready-to-cook formats such as fresh breakfast sausages, turkey breast, and uncooked smoked sausages.
Ready-to-eat meat, poultry, and seafood packaging market in US
The ready-to-eat meat, poultry, and seafood packaging market in the US was valued at USD 553 million in 2015. This market will grow at a much faster rate than the other two application segments during the forecast period, due primarily to an increase in the availability of prepared food products in the retail sector and the growing preference among consumers for convenient and easy to prepare food options. Ready-to-eat meat and poultry products such as hot dogs, cooked ham, deli meats, and salami are precooked, enabling lesser preparation and cooking time. These products also have a long shelf-life. Consumers demand single-serve packs and multipacks, and detailed information of the packaged food. The ready meals market in the US was valued at USD 28 billion in 2015.
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