Seafood Packaging Market Forecasts to 2028 – Global Analysis By Material (Metal, Glass, Paper & Paperboard, Plastic and Other Materials), Packaging Technology (Vacuum Packaging, Modified Atmospheric Technology and Other Packaging Technologies), Seafood Ty

Seafood Packaging Market Forecasts to 2028 – Global Analysis By Material (Metal, Glass, Paper & Paperboard, Plastic and Other Materials), Packaging Technology (Vacuum Packaging, Modified Atmospheric Technology and Other Packaging Technologies), Seafood Type, Application and By Geography

According to Stratistics MRC, the Global Seafood Packaging Market is accounted for $33.35 billion in 2022 and is expected to reach $47.58 billion by 2028 growing at a CAGR of 6.1% during the forecast period. Seafood packaging is used to store and protect fresh seafood from spoilage. The packaging prevents bacteria from growing and helps to extend the shelf life of the seafood. It is important to use fresh seafood packaging because it can help keep your seafood fresh for a longer period of time. The upsurge in demand for seafood is because of their increasing usage in commercial cookeries and dishes around the globe. Currently, many restaurants and hotels are favouring to buying fresh seafood rather than the frozen to serve better to their consumers. This helps to fuel the growth of the seafood packaging market.

According to the Food and Agriculture Organization of United Nations and World Health Organization, the consumption of fatty fish such as tuna and salmon by the adult population across the globe helps in lowering the risk of mortality from coronary heart diseases.

Market Dynamics:

Driver:

Increasing awareness regarding health benefits

The demand for high quality food items with better consistency and shelf life is growing rapidly. The increased acceptance of seafood as a healthy food, owing to rich nutrients, large variety, and affordability when compared to meat and meat products, need for single and small portion size items is driving revenue growth in the market. Additionally, increasing consumer demand for fresh and nutritious products is fueling growth of market, resulting in an increasing population and improvement in standards of living.

Restraint:

High susceptibility of food contamination

In most seafood items, microorganisms are leading cause of contamination. If seafood is handled, packaged, or stored improperly, it can become contaminated and grow microbially quickly. Weather has a great impact on seafood productivity, which causes price instability. However, rising levels of sea pollution are major factors among others restraining market growth, and will further impede seafood packaging market growth.

Opportunity:

Improvement in packaging techniques

Conservative packaging concepts are limited in their capacity to extend the shelf life of fish products. This can be determined by the introduction of modified atmosphere packaging technologies. Smart packaging technology is one such innovative packaging strategy that finds its way in the protection of different food systems. The market for active and smart pack solutions is driven by the production of new technologies of products and cost effective pricing which would promote greater market adoption of seafood packaging solutions.

Threat:

Fishery smell in sea foods

The smell of seafood depends on the habitat, origin, type of nutrition content, breed, and processing method. Managing the fishy like smell is challenging during transportation and storage. Oxidation of proteins and lipids in fish results in undesirable odours that need to be contained by high gas barrier packaging. The application of bio-based packaging for seafood products needs to be enhanced to contain the fishy aroma of seafood because the barrier properties are relatively lower than conventional packaging. Hence, these are the factors hindering the market growth.

Covid-19 Impact

The recent corona virus outbreak has had a negative impact on the growth of several business sectors across the world. The outbreak has created a sense of hesitancy among people across the world. Fish and fish goods that are heavily dependent on foreign trading have suffered due to supply chain disruptions in the market. Lockdown across major countries has resulted in logistical difficulties in trade-in seafood, especially about restrictions on transportation and border crossings. Sinking restaurant visits and the decrease in consumption of outdoor foods will affect the growth of the market.

The trays segment is expected to be the largest during the forecast period

The trays segment is estimated to have a lucrative growth, due to suitable shelf life, handling, lightness and reliability. Trays offer handiness to consumers, enabling them to directly cook food by putting it in an oven or microwave without affecting the integrity and taste of the food. The most commonly used packaging format for seafood packaging is trays as use of such packaging keeps the oven clean. Consumers are readily attracted to products that are packaged in trays and pouches suitable for microwave ovens. This contributes to the growth of the seafood packaging market.

The modified atmosphere packaging (MAP) segment is expected to have the highest CAGR during the forecast period

The modified atmosphere packaging (MAP) segment is anticipated to witness the fastest CAGR growth during the forecast period, due to it is used to manipulate the internal atmosphere of a package. It is a technique used for extend the shelf-life period of fresh or slightly processed foods. By this technique, the initial fresh state of the product may be prolonged. Fish need very low gas permeability films so for non-respiring products like meat, and fish, high barrier films are used. Therefore, these are the aspects boosting the growth of the segment.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to augment in production of seafood and more trading of seafood, rise in consumer awareness about consumption of fresh seafood and increase in the adoption of modified atmospheric packaging in this region. Growing disposable incomes in emerging countries and growing exports contribute significantly in growth of the market. Expansions of high-end and premium seafood, increasing consumer awareness about healthy nutritious foods are the major factors driving the market growth.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to massive consumption of canned fish. Increasing number of working women, more amount of disposable money, and other factors have all contributed to significant growth in demand for canned fish products. Additionally, rising public awareness of health advantages of eating fish in ones diet is predicted to boost demand. Demand for canned fish is driven by rising spending on food, health, and nutrition. Furthermore, the rising awareness regarding the health benefits of including fish diet is expected to fuel the market growth.

Key players in the market

Some of the key players profiled in the Seafood Packaging Market include Frontier Packaging, DowDuPont Inc., Amcor, Star-Box, Inc., PPS Midlands Limited, Tri-Pack Plastics, Cascades, Smurfit Kappa Group, Sealed Air Corporation, Wipak Oy, Orora Packaging Australia Pty Ltd., Printpack Inc., Sixto Packaging, Constantia Flexibles, ULMA Packaging, Victory Packaging, FFP Packaging Ltd., SIRANE GROUP, Silgan Holdings Inc. and AEP Industries Inc.

Key Developments:

In May 2021, Sealed Air Corporation announced that they had signed a definitive agreement to acquire Automated Packaging Systems, Inc. (APS), a leading manufacturer of high-reliability, automated bagging systems, for a purchase price of $510 Mn on a cash and debt free basis.

In January 2021, Sealed Air Corporation the original inventor of BUBBLE WRAP, has launched a new version of BUBBLE WRAP brand packaging material that is made with at least 90 percent recycled content.

In July 2020, Smurfit Kappa announced that it has replaced EPS frozen food packaging with reusable substitute paper based packaging. Smurfit Kappa has unveiled a creative and durable new kit that holds frozen and chilled foods fresh across the supply chain.

Product Type Covered:
• Bags & Pouches
• Shrink Films
• Food Cans
• Boxes
• Jars
• Trays
• Other Product Types

Material Covered:
• Metal
• Glass
• Paper & Paperboard
• Plastic
• Other Materials

Packaging Technology Covered:
• Vacuum Packaging
• Modified Atmospheric Technology
• Other Packaging Technologies

Seafood Type Covered:
• Molluscs
• Fish
• Crustaceans
• Other Seafood Types

Application Covered:
• Fresh
• Processed
• Ready-to Eat
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements