Market Trends of Skin Packaging Industry
This section covers the major market trends shaping the Skin Packaging Market according to our research experts:
Food Segment is Expected to Hold a Major Market Share
- The food business includes a massive need for carded packaging, known as skin packaging. Skin packaging, which is used for packaging meat, seafood, poultry, dairy, and cheese, is made from various packaging materials, including polypropylene, polyvinyl chloride, and polyethylene.
- It offers advantages like extending the food products' shelf life, appealing packaging, less product degradation, and strict safety standards. It improves product visibility, lowers food waste, and lengthens food items' shelf life. The food processing industry is predicted to be India's largest consumer of packaging, with a market value of USD 204.81 billion by 2025, according to the India Brand Equity Foundation (IBEF).
- Additionally, ready-made meals have grown in popularity among consumers as they prefer meat and fish items that are primarily retort-packed to keep them shelf-stable in different regions. The rising trend of internet shopping further boosted their confidence.
- Meat processors and retailers are pressurized to reduce costs, which helps the state-of-the-art packaging serve as a differentiator, adding value in an otherwise crowded meat market.
- Although vacuum-packaged sausage products are accepted widely, consumers still prefer fresh sliced products. This trend is clear from these products' availability in supermarkets and retail stores.
- Moreover, owing to the increasing demand, several market players are establishing collaborations and partnerships to drive additional revenues. For instance, in October last year, Coveris announced the launch of recyclable stand-up pouches for Tesco, a UK-based retailer of ready-to-eat chicken, in partnership with poultry producer Moy Park. This product was packaged in a rigid tray format with mixed lidding films. With this partnership, Coveris' MonoFlexBEstand-up pouch showcased a new design for the category.
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Asia-Pacific Expected to Exhibit Significant Share in the Market
- Last year, Asia-Pacific accounted for 41% of the global market for skin packaging. The region's expanding population, rising packaged food trends, expanding pharmaceutical industry, and other factors are primarily responsible for this increase. Packaged foods have also increased in this region due to rising urbanization and disposable income.
- Manufacturing automobiles, pumps, and compressors use skin wrapping for industrial uses. On the other hand, this region's increased food production also increased the demand for skin packaging.
- One of the top locations for producing plastics is Asia-Pacific, which offers significant growth potential for local businesses. China includes 32% of the plastic used in the globe, according to Plastic Europe. As a result, the region's fantastic food and plastic manufacturing increases contribute to the skin packaging market expansion.
- Furthermore, in November last year, ProMachacquired CL&D Graphics and CL&D Digital. CL&D is one of the leading providers of high-quality flexo and digital web packaging and conversion solutions for consumer goods companies. The addition of CL&D significantly expanded ProMach'sportfolio of flexible packaging systems and strengthened its ability to provide plastic flexible packaging solutions for various packaging applications.
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