The Poultry Packaging Market is poised for significant growth, with a projected valuation of US$ 2.6 billion in 2023. Anticipating a steady CAGR of 4.0%, the market is forecasted to surge to US$ 3.85 billion by 2033.
Poultry packaging refers to the packaging materials and methods used to preserve, protect, and transport poultry products such as chicken, turkey, duck, and other types of poultry. Packaging plays a crucial role in maintaining the quality, freshness, and safety of poultry products from production to consumption.
The Poultry Packaging Market is poised for significant growth, with a projected valuation of US$ 2.6 billion in 2023. Anticipating a steady CAGR of 4.0%, the market is forecasted to surge to US$ 3.85 billion by 2033. Among the packaging types, rigid packaging is expected to maintain its dominance as the leading segment within the market.
The food packaging industry is experiencing rapid growth and expansion, which is set to have a positive impact on the Poultry Packaging Market. Projections indicate that the Poultry Packaging Market is poised for remarkable growth, expected to increase by 1.7 times its current market value during the forecast period. This robust expansion can be attributed to several key factors driving the demand for poultry packaging.
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Market Trends
A surge in research and development activities focused on active, smart, and intelligent packaging solutions has become a driving force in the poultry packaging market. Manufacturers and research institutions alike are actively contributing to this momentum, unveiling a spectrum of innovative smart packaging technologies. The industry is quick to integrate these advancements into packaging systems, marking a transformative phase in poultry packaging that aligns with evolving consumer demands and industry standards.
The preservation of poultry meals is critically dependent on shelf life, a key parameter for end-users seeking product longevity. The inclination towards active packaging solutions in poultry packaging is on the rise due to their ability to significantly extend the shelf life of products. Shelf life, defined as the duration during which the properties of a food product remain unaltered from the time of packaging to consumption, stands as a crucial consideration.
Market Drivers:
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Competitive landscape:
The Poultry Packaging Market is highly competitive, with numerous significant companies competing for market share. Sealed Air Corporation, Smurfit Kappa Group, and DS Smith lead the industry, providing various chicken packaging options such as Hoover bags, trays, and shrink films. Amcor Limited, Coveris Holdings S.A., and Silgan Holdings Inc. are all strong rivals, offering novel packaging materials and solutions adapted to the poultry industry’s specific requirements. The fierce competition encourages constant developments in packaging technology and sustainability, which benefits the poultry sector by providing efficient and ecologically friendly packaging options.
Recent Developments:
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Market by Category
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market.
Feb 21, 2024