Study: North America meat packaging market to experience growth of 2.2% CAGR by 2026
Among all meat types, beef segment is anticipated to remain dominant during the forecast period.
The North America fresh meat packaging market is expected to expand at a CAGR of 2.2% by 2026, according to a report published by Future Market Insights, Valley Cottage, N.Y.
The report, “Fresh Meat Packaging Market: North America Industry Analysis and Opportunity Assessment, 2016-2026,” reveals that preferred packaging technologies for different types of meat products, factors impacting purchasing decision of packaging materials and most commonly used layer types are key drivers of growth in the meat packaging market.
In terms of value, EVOH segment is anticipated to register a CAGR of 2.7% during the forecast period. And, among all layer type segments, the 7-layer segment is anticipated to exhibit the highest revenue growth, followed by 5-layer segment. On the basis of packaging format, the market is segmented into MAP, VTP, VSP and others. In terms of value, MAP segment is expected to register a CAGR of 2.6% during the forecast period. Among all meat types, beef segment is anticipated to remain dominant during the forecast period.
A key trend defining the market is that of major players focusing toward enhancing their product portfolio and expanding customer base by entering into strategic mergers and acquisitions. Furthermore, film convertors are also increasingly focused on downgauging and optimization of package size to offer eco-friendly solutions to meat producers, co-packers and retailers.
The United States has been estimated to dominate the North America fresh meat packaging market.