Global Seafood Packaging Market is valued approximately at USD XX billion in 2019 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2020-2027. Factors such as growing consumer demand for fresh and high-quality seafood products accelerate the market growth. For instance, according to the Food and Agriculture Organization (FAO), aquaculture is expected to increase by about 18% in the next 10 years. Investments in the aquatic food sector tend to grow to improve fisheries management policies, mitigate pollution and rising losses through shipping. for instance, in 2019, the Indian Government has announced to invest USD 33.44 billion to revamp fisheries infrastructure sector of the country over the next five years. As the development of seafood is poised for imminent growth in the coming years, players in the market for seafood packaging are constantly seeking innovative ways to maintain the freshness of items and reduce exposure to external factors that obstruct them. Seafood packaging has therefore gained a substantial amount of momentum in recent years, with the introduction of emerging innovations to enhance the consistency and reliability of modern packaging solutions. In the past decade (2000-2010), technical advancements in the packaging industry have opened the door to innovative packaging technologies that are cost-effective and highly durable. The creation of innovative packaging solutions in the seafood industry is mainly aimed at curbing enzymatic reactions and enhancing the perishability of seafood items. At present, core players in the demand for seafood packaging prefer primarily adjusted atmospheric packaging (MAP) and vacuum skin packaging.
Nevertheless, the shortcomings of all of these processing techniques tend to present a significant threat to seafood processing firms. Moreover, due to the development in vacuum packaging and modified atmosphere packaging, consumers can physically inspect the quality of the product-a direct influence on the purchase decisions of consumers. Various manufacturers are adopting the strategy of product launch to increase the product portfolio and to expand the geographical outreach. For instance, In June 2018, Sealed Air Corporation launched a modern type of seafood packaging solutions developed from bio-based resins. The latest bio-based resin packaging is a green packaging alternative that will allow the seafood industry to tackle the issue of food waste by increasing the shelf life and freshness of seafood items.
Further, Depleting fish supplies, rising rates of aquatic contamination, have an effect on the use of fish and thus on the demand for seafood packaging. Scams such as “Horse meat scam” 2013, smuggling and bribery in the Thai fishing sector, Misnaming Scam (“Market Substitution”) in the SA Seafood Industry are hindering the development of the demand for seafood and seafood packaging.
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The regional analysis of global Seafood Packaging Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. APAC is projected to account for most of the market share due to increasing disposable income on emerging markets, which has boosted demand for sea food packaging in Asia Pacific and Middle East Africa. Increasing internet penetration and the usage of e-commerce websites by people from all over the world have expanded the need for easy-to-use packaging while preserving the freshness of seafood. The desire for nutritious food thus highlighting the elimination of waste content has contributed to a major market for seafood packaging in many countries.
Major market player included in this report are:
Sealed Air Corporation
PPS Midlands Limited
AEP Industries Inc.
Smurfit Kappa Group
Orora Packaging Australia Pty Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
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Target Audience of the Global Seafood Packaging Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers