Fresh Seafood Packaging Market to Reach US$ 19.02 Billion Globally, by the end of 2027 - Coherent Market Insights

SEATTLE, March 17, 2020 /PRNewswire/ -- The global fresh seafood packaging market was valued at US$ 11.81 billion in 2018, and is expected to exhibit a CAGR of 5.44% over the forecast period (2019-2027).

Definition of Market:

Packaging is considered as one of the most essential component of modern lifestyle, owing to rising inclination of the consumers towards convenience of using the products. Moreover, the market is experiencing growth owing to increasing demand of healthy products for consumption and easy availability of fresh seafood due to effective packaging solutions. Fresh seafood packaging is designed in such a manner that it is capable of meeting all the packaging requirements within the supply chain for ensuring that the texture, taste, and nutritive qualities of the food are preserved.

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Market Drivers:

The global fresh seafood packaging market growth is expected to be driven by increasing government initiatives towards the promotion of healthy eating practices, which promotes consumption of fresh seafood. The growth of the fresh seafood packaging market is also expected to be driven by the increasing demand for single and small size portion item. Fresh seafood packaging manufacturers are focusing on the development of case ready packaging, which is helpful in reducing the labor cost and increasing the protection of fresh seafood by usage of high barrier films. In addition to this, growing population and increase in standard of living of the consumers are driving demand for fresh and healthy products, thereby driving the growth of the fresh seafood packaging market. However, increasing instances of the bacterial infections, which are caused due to the improper packaging of fresh seafood is expected to restrain the growth of the market.

Market Opportunities:

The seafood supply chain has changed drastically over the years and has become highly complex as the fresh seafood has to pass through many stages before reaching the end consumers. The major issue, which arises during the transit if seafood is ensuring that the seafood is preserved fresh and damage free till it reaches the final consumer. For this reason, there are huge opportunities in the development of technology both in the industrial and consumer fresh seafood packaging, which would prove efficient and reliable for preserving the seafood from microorganisms. Seafood production is largely impacted by the atmospheric conditions, which leads to instability in the prices of seafood. This is expected to restrain growth of the fresh seafood packaging market.

Key Takeaways:

By application, the fish packaging segment is expected to hold a dominant position in the fresh seafood packaging market. Before consumption, fishes transit through various stages of storage, processing, and distribution in various containers, majority of which might have hygiene issues. Proper packaging of the fresh fish products helps in reducing fat oxidation, reducing dehydration, and also reduces less bacterial spoilage. The use of efficient packaging techniques also helps in preventing odor permeation.

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Competitive Section:

Company Names 

• Dow DuPont Inc.
• CoolSeal USA
• Frontier Packaging
• Sealed Air Corporation
• Sixto Packaging
• Victory Packaging
• Star-Box, Inc.
• AEP Industries Inc.
• Smurfit Kappa Group
• Printpack Inc.
• Orora Packaging Australia Pty Ltd.
• ULMA Packaging
• Wipak Oy

Key Developments:

In June 2018, Sealed Air Corporation entered into an agreement with Kuraray America, Inc., a Japan-based chemical company for offering food packaging materials, which are derived from plastic bio-based resins. With this agreement sealed air corporation would provide high quality plastic materials for packaging perishable foods such as seafood, poultry, and beef in the markets of Mexico, Canada, and the U.S.

Market Segmentation:

• Global Fresh Seafood Packaging Market, By Material Type: 
• Plastic
• Paper
• Metal
• Others (Wood, Glass, and Others)
• Global Fresh Seafood Packaging Market, By Product Type: 
• Boxes
• Bags
• Pouches
• Films
• Others (Cans, Trays, and Others)
• Global Fresh Seafood Packaging Market, By Application: 
• Fish Packaging
• Crustaceans Packaging
• Molluscs Packaging
• Others (Jelly Fish and Others)
• Global Fresh Seafood Packaging Market, By Region: 
• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• Italy
• France
• Russia
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• ASEAN
• Australia
• South Korea
• Rest of Asia Pacific
• Latin America
• Brazil  
• Argentina
• Mexico
• Rest of Latin America
• Middle East
• GCC
• Israel
• Rest of Middle East 
• Africa
• North Africa 
• Central Africa 
• South Africa

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SOURCE Coherent Market Insights