Seafood Packaging Market

Seafood Packaging Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Seafood Packaging Market was worth US$ 1,03,89.3 Mn and is expected to grow at a CAGR of 5.1% over the forecast period. The market is expected to hit US$ 1,79,56.3 Mn by 2032 end.

Seafood is low in calories and abundant in long-chain omega-three fatty acids, calcium, zinc, and many vitamins. Fresh fish is packaged to avoid tainting and altering the food’s biological, chemical, and physical forms.

Compared to other meals, sea foods lose its freshness and shelf life quite quickly. Therefore, effective and trustworthy packaging is required to extend the shelf life of seafood. They also emit scents. Thus packaging needs to account for this so that odor doesn’t escape stored in grocery stores and other establishments.

Market Dynamic

THE RISE IN DEMAND FOR SEAFOOD DRIVES THE MARKET

The demand for expensive and quality seafood is expanding, and consumer awareness of a healthy diet is growing. A significant portion of worldwide seafood production and packing increase is driven by rising exports of less expensive farmed fish from developing nations like China, India, Indonesia, and Taiwan.

Stakeholders in the seafood packaging market are constantly developing new strategies to maintain the freshness of items and prevent exposure to environmental variables that impair the same since seafood output is expected to expand inevitably in the upcoming years. With new technologies used to increase the quality and longevity of new packaging options, seafood packaging has consequently gained much popularity in recent years.

STRINGENT GOVERNMENTAL REGULATIONS HAMPER THE MARKET GROWTH

The market for packaging fresh seafood is constrained by rising incidents of food contamination brought about by inadequate packing or improper handling of fresh seafood. Furthermore, the use of plastic packaging for the transportation and packing of fresh seafood is anticipated to be hampered by the strict laws and restrictions implemented by the governments of various nations. Over the projected period, this is also expected to restrain the growth of the fresh seafood packaging market.

Market Segments Covered in Report

By Product Type:

• Trays
• Bags & Pouches
• Food Cans
• Boxes
• Jars
• Shrink Films
• Others

By Packaging Technology:

• Modified Atmospheric Technology
• Vacuum Packaging
• Others (Retort Technology, etc.)

By Material:

• Plastic
  • HDPE
  • LDPE
  • PP
  • PA
  • PET
  • PVC
  • Others (EVOH, etc.)
• Paper & Paperboard
• Metal
• Glass
• Others (Fiber, Wood, etc.)

By Application:

• Processed
  • Frozen & Chilled
  • Ready-to-eat
• Fresh

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Which packaging technology of Seafood Packaging projected to accelerate the seafood packaging industry??

During the forecast period, vacuum packaging technology is expected to surpass competing technologies in the seafood packaging market. Package converters use vacuum packaging technology to maintain the integrity and freshness of their product. It is projected that the cost-effectiveness provided by this technology would further accelerate the expansion of the seafood packaging industry.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.

• The Asia-Pacific area now controls most of the global seafood packaging market due to rising fish production and trade, increasing consumer awareness of the benefits of consuming fresh seafood, and rising use of modified atmospheric packaging. The Asia Pacific is expected to hold a market share of about 40.0% at the end f the forecast period.
• Due to increased consumer awareness of the benefits of consuming fresh seafood and increased use of modified atmospheric packaging in this area, North America is likely to lead the market for seafood packaging in terms of growth.

Competition Analysis

Businesses primarily create inventive seafood packaging solutions that adhere to rules established by the Food and Drug Administration (FDA). The search for novel and cutting-edge methods and ways to enhance the existing state of seafood packaging continues to gather steam because of the shortcomings of modified environment packaging and vacuum packaging.

Improved active packaging and intelligent packaging systems are gradually gaining a position in the global market for seafood packaging as a result of research and development initiatives. The leading competitors in the seafood packaging market have focused on sustainability as another important concern. Companies that package fish increasingly employ recyclable, environmentally friendly packaging materials in response to rising customer demand for environmental.

Some of the key developments that have taken place in the Seafood Packaging Market include:

• In June 2018, The Sealed Air Corporation unveiled a brand-new line of seafood packaging options made with bio-based polymers. By prolonging the shelf-life and freshness of seafood items, this novel bio-based resin packaging would assist the seafood sector in tackling the issue of food waste.

A list of some of the key suppliers present in the market are:

• DowDuPont Inc.
• CoolSeal USA
• Tri-Pack Plastics
• Frontier Packaging
• Sealed Air Corporation
• Sixto Packaging
• Victory Packaging
• PPS Midlands Limited
• Star-Box, Inc.
• AEP Industries Inc.
• Smurfit Kappa Group
• Printpack Inc.
• Orora Packaging Australia Pty Ltd.
• ULMA Packaging
• Wipak Oy

Global Seafood Packaging Market 2022-2032: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies