According to the report published by Grand View Research, Inc., increasing demand for packaging materials which are cost-effective and boost the shelf lives of products along with the proliferation of E-commerce is anticipated to keep the demands in the market ticking for the coming years.
According
to a report, “Skin
Packaging Market Size, Share & Trends Analysis Report By Material
(Plastics, Paper & Paperboard), By Type (Carded, Non-carded), By
Application, By Region, And Segment Forecasts, 2019 - 2025”, published by
Grand View Research, Inc. The global skin packaging market size is
expected to reach USD 13.38 Billion by 2025, registering a 5.8% CAGR over the
forecast period, according to a new report by Grand View Research, Inc. Rising
demand for cost-effective packaging solutions coupled with increasing focus on
reducing the volume of packaging material required is expected to benefit the
market growth.
New
and innovative packaging solutions have been able to ensure minimum product
wastage in the manufacturing process and have played a major role with rapid
urbanization, changing lifestyles and growing disposable incomes in fueling
demands of the product all over the market. Also, growing awareness about the
multiple benefits of skin packaging such as cost-efficiency, and better product
presentation with transparent films among others have had a positive effect on
the market growth in the previous years and is expected to have more in the
coming years, as well.
Increasing
shift towards sustainable packaging materials such as bioplastics by major key
players is expected to boost the market growth rate in the coming years,
despite being affected by fluctuations in the prices of various plastic
materials and stringent government regulations all over.
The
skin packaging market is expected to be largely driven by the increasing demand
for meat and poultry products especially in the developing countries in the
Asia Pacific and Central & South America region. In addition, factors
including affordability coupled with the growing middle-class population in
these regions is further likely to strengthen the meat & poultry demand,
which is in turn, likely to benefit the market growth.
Full Research Report On Skin Packaging Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/skin-packaging-market
Further key
findings from the report suggest:
- Based on
materials, the
plastics material segment accounted for the largest revenue share in the
year 2018. Plastic types commonly used for skin packaging include
polyethylene, ionomer, polyvinyl chloride, and PET, among others.
- Based on
application, the food
application segment is anticipated to grow at a CAGR of 6.5% from 2019 to
2025 owing to the increasing consumption of various food products such as
meat, poultry, and seafood, among others.
- Based on
region,
Asia-Pacific skin packaging market is slated to grow at a CAGR of 6.2%
from 2019 to 2025 on account of several factors including increased
spending power of the consumers, growing demand for convenient packaging,
and rapid growth of the manufacturing sector in the region
- Growing
consumer demand for high protein intake in North America is expected to
propel the meat demand in the region, which is further anticipated to
benefit the regional market growth.
- Mergers &
acquisitions, product
innovations, and business expansions are among the major strategies
adopted by key market participants to reinforce their competitive
positions in the market.
- For instance,
in February 2019, Sealed Air acquired the flexible packaging business
of MGM, a Philippines based company that offers flexible packaging
materials for the consumer-packaged goods sector, particularly in the
Southeast Asia region.
- Also, in
September 2020, Sealed Air launched its latest vacuum skin packaging
innovation for the fresh red meat and seafood sectors at the annual
China International Meat Industry Exhibition (CIMIE).
- Shift towards
bioplastics are evidently observed in the market. For instance, Amcor, Inc., launched new product
SkinNova, which is a skin film that minimizes the use of plastics by over
70% and reduces carbon footprint by 45%.
- Some of the
key players are Sealed
Air, Amcor plc, Dow, Clondalkin Group, MULTIVAC, Klöckner Pentaplast, G.
Mondini, Winpak Ltd., Berry Global Inc., and WestRock Company.
Request a Sample Copy of the Report @
https://www.grandviewresearch.com/industry-analysis/skin-packaging-market/request/rs1
Grand View Research has
segmented the skin packaging market on the basis of material, type,
application, and region:
Skin Packaging
Material Outlook (Revenue, USD Million; 2014 - 2025)
- Plastics
- Paper & Paperboard
- Others
Skin Packaging
Type Outlook (Revenue, USD Million; 2014 - 2025)
- Carded
- Non-carded
Skin Packaging
Application Outlook (Revenue, USD Million; 2014 - 2025)
- Food
- Consumer Goods
- Industrial
- Others
Skin Packaging
Regional Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Middle East & Africa
- Saudi Arabia
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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