The analysts forecast global fresh meat packaging market to grow at a CAGR of 3.19% during the period 2018-2022. The latest trend gaining momentum in the market is growing market consolidation in global packaging industry.
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The fragmented nature of the market and high competitive pressure from large vendors are forcing small players to join large players through mergers or acquisitions (M&As).
Large players are also encouraging M&As in order to expand their market presence and enter new markets. M&As can help small players adopt new technology from large players in order to survive in the competitive market.
The number of M&As in the overall packaging industry is increasing annually at the rate of 1%-2%. For instance, in 2016, China's packaging industry witnessed an increase in M&A deals (more than $210-$225 billion) compared with 2015.
Increased consolidation in the global packaging industry will also enable the consolidation of the global fresh meat packaging market as fresh meat packaging is one of the key segments of the global packaging market.
Technavio recognizes the following companies as the key players in the global fresh meat packaging market: Amcor, Bemis, Berry Global, Crown Holdings, and Sonoco Products
According to the fresh meat packaging market report, one of the major drivers for this market is Rising adoption of case-ready meat packaging. Case-ready fresh meat packaging has been growing across the world since 2010.
In this type of packaging, fresh meat is processed and packed at a packaging station, and delivered to retail shops.
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Through fresh meat case-ready packaging, retailers can reduce certain operational costs such as labor cost, meat-cutting equipment cost, and space utilization cost for fresh meat preparation. Also, it was noted that case-ready fresh meat packaging reduces the overall operating cost for retailers by around 26%, compared with loose meat sold in retail shops.
In addition, meat cutting and preparation in retail stores require a huge space, whereas case-ready fresh meat packaging can help retailers save that space for other retail merchandising operations. Case-ready fresh meat packaging also prevents leakage and provides better quality control.
All these benefits of case-ready fresh meat packaging are driving the adoption of fresh meat packaging across the world.
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Further, the fresh meat packaging market report states that one of the major factors hindering the growth of this market is Fluctuating polymer prices. The cost of polymer across the world has been facing a reduction since 2014, due to low energy and feedstock costs.
Crude oil price reduction is another major reason for the decreasing polymer price. For example, in 2016, the price of polyvinylidene chloride and ethylene vinyl alcohol polymer decreased by around $0.1-0.3 per kg, and that of polyvinyl alcohol (PVA) decreased by around $0.2-$0.4 per kg.
The falling polymer price will reduce the overall purchasing and operational cost for fresh meat packaging manufacturers. It will also boost the bulk polymer price purchasing behavior of fresh meat packaging manufacturers.
Few Points from List of Exhibits:
Exhibit 1: Global Packaging Market
Exhibit 2: Global Fresh Meat Packaging Market
Exhibit 3: Market Characteristics
Exhibit 4: Market Segments
Exhibit 5: Commonly Used Types of Packaging At Different Stages of Supply Chain
Exhibit 6: Market Definition Inclusions and Exclusions Checklist
Exhibit 7: Market Size 2017
Exhibit 8: Validation Techniques Employed For Market Sizing 2017
Exhibit 9: Global Market Size and Forecast 2017-2022 ($ Bn)
Exhibit 10: Global Year-Over-Year Growth 2018-2022 (%)
Exhibit 11: Five Forces Analysis 2017
Exhibit 12: Five Forces Analysis 2022
Exhibit 13: Bargaining Power of Buyers
Exhibit 14: Bargaining Power of Suppliers
Exhibit 15: Threat of New Entrants
Exhibit 16: Threat of Substitutes
Exhibit 17: Threat of Rivalry
Exhibit 18: Market Condition Five Forces 2017
Exhibit 19: Customer Landscape
Exhibit 20: Types of Packaging Market Share 2017-2022 (%)