In 2022, the sea food packaging market is anticipated to be worth US$ 364.98 billion. The market is projected to inflate at a CAGR of 6.3% to reach a market size of US$ 672.36 billion by 2032.
Attributes
Details
Sea Food Packaging Market CAGR
6.3%
Sea Food Packaging Market (2022)
US$ 364.98 Billion
Sea Food Packaging Market (2032)
US$ 672.36 Billion
Global firms primarily concentrate on creating inventive seafood packaging solutions that adhere to rules established by the Food and Drug Administration (FDA).
The search for novel and cutting-edge methods and ways to enhance the existing state of seafood packaging continues to gather steam because of the shortcomings of modified environment packaging and vacuum packaging.
Manufacturers are also concentrating on improved active packaging and intelligent packaging systems, which are gradually gaining a position in the global market for seafood packaging as a result of research and development initiatives.
Players in the seafood packaging industry are also paying close attention to sustainability, which is another important area of focus. Companies that package fish are increasingly adopting recyclable materials that are good for the environment due to the growing customer demand for environmental sustainability. Due to this matter, players are focusing on developing metal, paper, and paperboard packaging solutions as these are gaining popularity rapidly.
Manufacturers have identified that oven-safe bags and pouches offer tremendous progression opportunities in the seafood packaging market. The value-added idea aids seafood marketers in greatly boosting their profits. When preparing fish, using such bags helps to reduce the spread of the unique fishy scent in the kitchen.
Additionally, it lessens the chance of contracting certain illnesses caused by eating raw fish. These qualities draw in end consumers. Manufacturers utilize this opportunity to exhibit their products in a more prestigious way. Nylon bags or films, which can be heat-sealed on flow wrappers, have also been offered by some seafood packaging producers and are thought to be suitable for cooking seafood in ovens.
Manufacturers and startups recognized that increased use of modified atmospheric packaging and consumer knowledge of the benefits of consuming fresh seafood that complies with safety regulations are two trends that are anticipated to continue to create attractive business prospects. The shelf life of items is increased through advanced atmospheric packaging.
For sporadic packing, certain packaging companies provide thermoforms to processors of fresh seafood. This contributed to accelerating the time it took to supply seasonal fish from processing to dispatch.
These thermoform are effective in making thorough cleaning accessible, allowing the food makers to comply with legal standards. Some regional producers of packaging for fresh seafood are focusing on creating case-ready packaging, which lowers labor costs while simultaneously enhancing fresh seafood safety by utilizing high-barrier films.
In addition, rising consumer demand for wholesome foods is boosting the market for fresh seafood packaging, which will increase the population and raise living standards.
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Sea Food Packaging Market Overview
Recent trends in global food & beverage industry shows that consumers are changing their preference towards health and wellness foods. Dairy products, meat, sea foods, poultry, fresh fruits & vegetables and others are the major health and wellness foods which are consumed worldwide.
Dietary supplements also consumed for this purpose, but due to the lack of product knowledge and fear of adverse or harmful effects they are less preferred by consumers. Sea food is the most preferred health and wellness food worldwide, due to its rich nutrients, availability, rich experience, range of variety and affordability compared to other meat and meat products.
Seafood microbial deterioration rate doubles with every 5.3oC increase in temperature. Deterioration during causes both quality and weight loss. Therefore quality and type of packaging has great importance in seafood industry. Preserving freshness and shelf life after catch and before selling to consumer is a very big challenge facing by sea food industry.
Sea foods lose their freshness and shelf life very rapidly compared to other foods. So there is a need for efficient and reliable packaging for sea foods to preserve their shelf life. The other challenge is they produce odors, so packaging has to take of this fact that odor should not come out of packaging while stored in retail stores and super markets.
Sea food packaging uses rigid trays with lidding films, pouches, cartons, aluminum containers, molded plastic containers, expanded polystyrene containers and others. Modified atmospheric packaging (MAP) is commonly used packaging method, which helps to preserve shelf life.
Sea Food Packaging: Market Dynamics
Growing disposable incomes in emerging markets is driving the demand of seafood packaging market in Africa and Asia. China, India, Japan, Indonesia, Myanmar are highest exporters of seafood and they had percentage growth of more than 5% (FAO report) between 2013 and 2014 except India.
Growth of high-end and premium seafood, rising consumer awareness about healthy nutrition are also driving the seafood packaging market. Growing exports of cheaper farmed fish from emerging markets like China, India, Indonesia, Taiwan is contributing a lot to the growth of global seafood production and packaging.
Global population is growing rapidly (7 billion mouths to feed), rapid aging of the global population are driving the worldwide demand for seafood packaging market. In Europe the scenario has changed from stagnant to moderate growth, but still the area is under some volatile situation due to Brexit (UK withdraws from the European Union) and Grexit (Greek government-debt crisis).
The European seafood packaging market is slowly recovering from its stagnant growth witnessed over past few years. Rise of ‘quantified self’ and data driven diets, rising popularity of supplements and nutraceuticals, growth of fast casual foodservice, growing interest in 'mood food' are indirectly driving the demand for seafood packaging market.
Today the seafood supply chain is completely changed and became so complex that, sea catch or farm produced seafood has to cover long distances before reaching to consumer point. The hurdle is it should be preserved fresh and damage free till reaching to consumer.
Technologies have evolved to make both industrial and consumer seafood packaging more efficient and reliable. Seafood is an extremely perishable food and should be handled with great care at all times to prevent the growth of microorganisms. Potential shelf life and quality of seafood deteriorates so rapidly if it is not handled and stored properly. Seafood will be frozen immediately after landing to prevent deterioration. Seafood industry shows seasonal dynamics.
Atmospheric conditions has large effect on seafood industrial production. Therefore the volatile seafood prices. These facts affect the demand of seafood packaging market. Increasing scope of regulations, growing demand for traceability, convenience and transparency are also a restraint for the growth of seafood packaging market.
Depleting seafood stocks, rising levels of sea pollution impact consumption of seafood and thereby seafood packaging market. Scams like “Horse meat scandal” 2013, slavery and trafficking in Thai fishing industry, Misnaming Scandal (“Market Substitution”) in SA Seafood Industry are hampering the growth of seafood and seafood packaging market.
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Sea Food Packaging: Market Segmentation
The seafood packaging market is segmented on the basis of application, product type and material. Based on application, sea food packaging are segmented into frozen seafood, fresh seafood, dried seafood and others.
Based on product, seafood packaging market is segmented into containers, boxes, pouches, bags, cans, bottles, trays & others. Based on material, seafood packaging market is segmented into plastic, glass, paper, metal & others.
Sea Food Packaging Market: Regional outlook
Sea Food Packaging market has been segmented on the basis of region into North America, Latin America Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Middle East & Africa (MEA), and Japan.
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Sea Food Packaging Market: Key players
Some of the players in the global sea food packaging market are Robert Mann Packaging Inc., Seafood Packaging Inc, Covertech Flexible Packaging Inc., International Packaging, Plastic Ingenuity Inc., Golden Eagle Extrusions, Inc., RM Converters Private Limited.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type of product and applications.
The report covers exhaust analysis on
Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
The regional analysis includes
North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain)
Eastern Europe (Poland, Russia)
Asia-Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
The Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
