The North America fresh meat packaging market is expected to attain a valuation of US$ 724.4 million in 2023 and is projected to reach USD 1,070.9 million by 2033, rising at a CAGR of 4% during the forecast period.
The North America fresh meat packaging market is expected to be driven by the growing need to improve the shelf life of meat products. Advanced packaging and barrier films like modified atmospheric packaging and vacuum technology are being used to improve the shelf life of fresh meat products by approximately 12X. This is estimated to fuel the demand for fresh meat packaging solutions in the forecast period.
Meat packaging solutions also enhance the aesthetic appearance of meat products, which is further expected to foster growth in the market. The burgeoning demand for flexible packaging products is expected to spur growth in the market due to rising concerns about sustainability and the need to reduce carbon emissions.
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The incorporation of flexible packaging solutions in meat packaging reduces the consumption of raw materials, energy, and waste generation, thereby encouraging environmental sustainability as compared to rigid packaging.
Increasing consumption of meat products is further escalating product demand, especially in the United States. There is a huge demand for items like processed meat in this region. This is due to the convenience of ready-to-serve foods which are favored by the consumers of this region.
According to United States Department of Agriculture (USDA), in 2020, the most consumed type of meat in the United States was broiler chicken, at about 96.3 pounds per capita. By 2028, this is expected to rise to 94.2 pounds per capita. This trend is expected to positively influence product demand in the near future.
According to the American Institute for Packaging and the Environment, approximately 68.1% of meat in United States is sold in packaging formats. Also, this region is anticipated to reflect significant growth in the coming period due to rising investments in research and development activities to develop innovative packaging techniques.
Key Takeaways
- United States fresh meat packaging market is expected to grow with a CAGR of 3.8% during the forecast period.
- The market in Canada is projected to witness a CAGR of 5.3% during the forecast period.
- The market in United States is anticipated to accumulate over 93% market share by end of 2023.
- By material type, Polyethylene segment is projected to grow with a CAGR of 4.2% during the projection period.
- By meat type, beef is expected to exhibit a significant CAGR of 6.2% during the period of assessment.
“The growing popularity of freshly processed meat products like hot dogs and rapid expansion of quick service restaurants and fast food joints such as McDonald’s is expected to fuel the demand for fresh meat packaging in North America, -Comments an FMI Analyst
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Competitive Landscape
The North America fresh meat packaging market is intensely competitive and consists of various key industry players. These players are heavily investing in manufacturing North America fresh meat packaging solutions.
Key market players are depending on inorganic growth strategies like acquisition, tie-ups, mergers, and collaboration in order to enhance their product portfolio. This is expected to fuel the global North America fresh meat packaging market.
- In April 2021, Coveris Holdings S.A. concluded the acquisition of a profitable and stable business Initial Packaging Ltd. This firm specializes in the manufacturing of specialty bags to focus on converted high-end packaging solutions.
- In 2021, Winpak Limited declared the launch of its new range of packaging solutions for the meat industry, called as W7200 series. This series includes flexible, high-barrier packaging that features exceptional protection against oxygen, moisture, and other external elements that can diminish the quality of meat products. The new packaging solutions are designed to meet the unique demands of meat processors, retailers, and consumers. It is expected to offer significant benefits of improved shelf life, product safety, and convenience.
- In November 2021, Preval AG, a Canada-based agriculture and food company, purchased J&G Foods for USD 525 million. With this acquisition, Preval bolstered its portfolio of fresh meat products, its packaging capabilities for many types of meat products, and its product offerings in Northern America. J&G Foods is a United States-based specialty case-ready fresh meat company working to provide quality, portioned organic and grass-fed beef, natural pork and beef, organic and natural poultry packaging solutions, and a selection of marinated and value-added meats.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global North America Fresh Meat Packaging market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the North America fresh meat packaging market, the market is segmented on the basis of packaging format, material, meat and region.
About the Packaging Division at Future Market Insights
The packaging team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
Key segments profiled in the North America Fresh Meat Packaging Industry Survey
By Packaging Format:
- Modified Atmospheric Packaging
- Vacuum Skin Packaging Stand Up Pouches
- Vacuum Thermoformed Packaging
By Material Type:
- Polyethylene (PE)
- Polypropylene (PP)
- Bi-axially oriented polypropylene (BOPP)
- Ethylene vinyl alcohol (EVOH)
- Polyvinyl chloride (PVC)
- Polyamide (PA)
- Others
By Meat Type:
- Beef
- Pork
- Poultry
- Seafood
- Others
By Country:
- United States
- Canada
About Future Market Insights Inc. (FMI)
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. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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