Wilmington, Delaware , Aug. 16, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Fresh Sea Food Packaging Market by Product Type (Rigid Packaging, Flexible Packaging and Others), Material Type (Plastic, Paper, Metal and Others), and Application (Fish Packaging, Shrimp Packaging and Other Seafood Packaging): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the fresh sea food packaging market was valued at $15.2 billion in 2023, and is estimated to reach $26.4 billion by 2033, growing at a CAGR of 5.7% from 2024 to 2033.
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Prime determinants of growth
The global fresh seafood packaging market is experiencing growth owing to rise in global demand for fresh seafood, driven by increase in health awareness and changes in dietary preferences. has led to a greater requirement for packaging solutions that are expected to maintain the freshness and quality of the seafood. Stringent food safety regulations and rise in consumer concerns about product safety have necessitated the adoption of advanced packaging technologies such as modified atmosphere packaging and active packaging. In addition, expansion of international seafood trade and subsequent need for efficient distribution channels have increased the demand for packaging that maintain product integrity during long-distance transportation. Furthermore, sustainability trends and consumer preferences for convenience and portion control have prompted innovations in eco-friendly and user-friendly packaging formats.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $15.2 Billion |
| Market Size in 2033 | $26.4 Billion |
| CAGR | 5.7% |
| No. of Pages in Report | 280 |
| Segments Covered | Product Type, Material Type, Application, And Region. |
| Drivers | Convenience Is Fueling The Demand For User-Friendly Seafood Packaging. |
| Extended Shelf-Life Requirements | |
| Technological Advancements In Packaging | |
| Opportunities | Emerging Markets And Globalization |
| Value-Added Packaging Solutions | |
| Restraints | Consumer Perception And Acceptance |
Segment Highlights
The demand for flexible packaging is driven by several factors. Primarily, consumer preferences for convenience, portability, and portion control drive the popularity of flexible packaging formats such as pouches and bags. In addition, lightweight feature of flexible packaging reduces transportation costs and environmental impact compared to rigid alternatives. Manufacturers benefit from the versatility of flexible packaging, which allows for innovative designs, customizable shapes, and printing capabilities for branding and product differentiation. Moreover, advancements in packaging materials and technologies offer improved barrier properties, extending shelf life and maintaining product freshness.
The need for plastic in fresh seafood packaging is driven by excellent barrier properties, protecting seafood from external contaminants, moisture, and oxygen, thereby extending its shelf life and maintaining freshness. Plastic packaging is lightweight and durable, making it ideal for transportation, storage, and handling throughout the supply chain. Furthermore, plastic packaging allows for versatile designs and customization, facilitating branding and product differentiation in the competitive seafood packaging market.
The demand for fish packaging in fresh seafood packaging industry is driven by necessity to preserve product quality and safety. Effective packaging protects fish from contamination and physical damage while extending its shelf life through controlled temperature and moisture levels. Consumers seek convenient packaging formats for easy handling and portioning, driving demand for ready-to-cook or ready-to-eat fish products. Innovative packaging designs aid brand differentiation, attracting consumer attention in a competitive market. In addition, there is a rise in preference for sustainable packaging materials and practices to address environmental concerns. Packaging decisions in the fish industry are influenced by adherence to food safety regulations and need for efficient logistics.
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Regional Outlook
The Asia-Pacific region is the dominant market for fresh seafood packaging, driven by large coastal populations with strong seafood consumption traditions, rapid urbanization leading to higher disposable incomes, and presence of major seafood producers & exporters, including China, Vietnam, and India. The region is witnessing growth in the adoption of advanced packaging technologies, such as modified atmosphere packaging (MAP), and is projected to maintain its leading position globally.
Players: -
- Amcor
- DuPont
- Winpak
- Berry Global
- Seled Air
- Coveris
- Cascades
- Kureha
- Smurfit Kappa
- Crown Packaging
The report provides a detailed analysis of these key players in the global fresh seafood packaging market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report holds significant value as it focuses its attention on the business performance, operating segments, product portfolio, and strategic maneuvers of market players to present a comprehensive view of the competitive scenario.
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Recent Development:
- In July 2020, Smurfit Kappa introduced an alternative paper-based packaging to replace EPS frozen food packaging. Recently, they have revealed an innovative and long-lasting solution called the Thermo Case, which effectively maintains the freshness of frozen and chilled foods throughout the entire supply chain. This remarkable packaging, made from a combination of Hexacomb and corrugated materials, is 100% paper-based and successfully preserves frozen items such as fish at temperatures the same as those achieved by extended polystyrene (EPS) packets.
- In February 2019, ULMA Packaging is planning trials with any new packaging system to help the industry reduce packaging waste. Innovative packaging machines are designed to minimize packaging size & waste and comply with biodegradable & recyclable products.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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