Global Fresh Seafood Packaging Market was valued at USD 18.9 billion in2019 which is expected to reach 95.7 billion by 2027 at a CAGR 3.8%.
Fresh seafood is consist high content of various vitamins such as Vit A, Vit D, and B-Complx, zinc, calcium, mineral, and long chain omega 3 fatty acids. Also, seafood is low in calories. Seafood packaging helps to prevent contamination and changes in the biological, physical, and chemical form of food.
The manufacturing industry is exposed to the law of supply and demand in the same way as consumer goods are and even more closely interrelated. If the demand for consumer goods falls, the demand for the raw materials involved in the manufacture of those goods also declines. The industry also can be influenced by changes in the housing market, as many manufactured raw materials are used in construction projects.
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Increase in demand for seafood is the main key driving factor which is expected to boost global fresh seafood packaging market growth. Furthermore, increase in awareness about healthy food and hygiene is expected to propel the growth of global fresh seafood packaging industry during this forecast period. Moreover, growing technological developments and innovations will have the positive impact on global fresh seafood packaging market growth. For instance, in February 2020, LidI had launched ocean-bound plastic packaging. It is developed in partnership with Capernus, Sharpak packaging manufacturer and ocean-bound plastic supplier Bantam Materials. Ocean-bound plastic material is used to pack fresh seafood packaging.
However, stringent government rules and regulations regarding the raw material used for packaging is the restraining factor which is expected to hamper the global fresh seafood packaging market growth.
Impact of Covid 19 on Market
Reduced consumption of fresh seafood is also considerable factor for the fresh seafood packaging market. Hence, on the back of these aspects COVID 19 outbreak cloud decline the growth of global fresh seafood packaging market.
Global Fresh Seafood Packaging Market is segmented into material such as Polypropylene, Polyethylene, Aluminum Paper, PVC, and BOPET, by pack type such as Gusseted Bags, Flexible Paper, Converted Roll Stock, Corrugated Box, Boxboard, and Cans.
The assessment and forecast of the Fresh Seafood Packaging Market have been studied on a global and regional basis. Based on the region, the Fresh Seafood Packaging Market has been studied in the Asia Pacific (APAC), Europe, North America, Latin America (LATAM), and the Middle East and Africa (MEA).
Global Fresh Seafood Packaging Market Research report offers a close watch on leading competitors with strategic analysis, pricing analysis, and holistic overview of the market situations in the forecast period. Further, Key operating players with their profiles are discussed in the report. Also, the subsidiaries & other associated companies are discussed with collaboration, partnerships, agreements, mergers & acquisitions. The processes, annual margins, and other business methodologies followed by these prominent players have been elaborated to elucidate readers on their progress & their current standing in the market.
Market Key Players
Various key players are discussed in this report such as SILGAN HOLDINGS INC, MONDI PLC, DUPONT, DS SMITH PLC, COVERIS, SMURFIT KAPPA, SEALED AIR CORPORATION, WESTROCK COMPANY, INTERNATIONAL PAPER COMPANY, and AMCOR PLC.
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