Seafood Packaging Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis and Forecast 2020-2027

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Others

According to Vision Research Reports, the global seafood packaging market is expected to grow a CAGR of 6% during the forecast period 2020 to 2027.

The global seafood packaging market size is projected to surpass US$ 6.6 billion by 2027, rise in adoption of high-quality packaging that extends shelf life of seafood products is anticipated to bolster market growth.

The market growth can be largely attributed to an array of factors out of which, advancements in MAP and vacuum packaging will remain pivotal. In addition, stakeholders in the global seafood packaging market should take interest in the development of sustainable packaging alternatives due to the rising demand for sustainability in the packaging sector. Consumer preferences, particularly in North America and Europe will lean toward sustainable packaging solutions due to which, seafood packaging companies should focus on other materials, including paper, metal, and glass.

High Trade of Seafood Products in Asia Pacific to Propel Market Growth

The Asia Pacific is estimated to hold the highest share in the global seafood packaging market, owing to a rise in exports of scallops, squids, oysters in this region. China accounted for more than 35% of the global seafood packaging market in 2019, in terms of value. This growth can be attributed to increasing consumption of fish and molluscs in the region. For instance, high exports of crustaceans and molluscs seafood types were recorded in 2018, according to FAO. Vietnam, Thailand, Malaysia, and other ASEAN countries are anticipated to offer lucrative opportunities for players in the seafood packaging market over the forecast period. Moreover, Europe is anticipated to offer positive prospects for players in the seafood packaging market over the forecast period of 2019-2027.

Manufacturers to Increase Investments in Advanced Packaging Technologies

Multinational food packaging companies plan to invest high amount of capital to develop advanced packaging technologies such as MAP for seafood packaging. Quality, safety, theft prevention, and traceability are the major focus areas of global companies, while designing advanced seafood packaging solutions. With the increasing demand for improved packaging technologies from end users, the companies are rethinking their strategies to invest in the growing market. It has been noticed that the seafood packaging companies are collaborating with technology providers to offer smart & intelligent packaging solution for products such as trays and pouches to their customers. Instead of focusing on mass production of early-stage products, seafood packaging converters strive to develop products that maintain product integrity and enhance quality.

An amalgamation of packaging technologies with existing products has helped seafood packaging manufacturers to achieve better profit margins. Advanced seafood packaging technologies are very helpful in building direct digital relationships with consumers through the package itself. This has boosted the development of new product solutions in the seafood packaging industry, which, in turn, are anticipated to create new growth opportunities for packaging converters over the forecast period.

Rising Demand for Seafood to Boost Sales of Seafood Packaging Solutions

The demand for packaging solutions for fresh seafood outpaces that for processed seafood in the global seafood packaging market. This growth is attributable to the increasing use of fresh seafood products in salads, sandwiches, and burgers, as fresher seafood tastes better than frozen. Moreover, frozen seafood requires special packaging so the products do not lose taste over time. However, canned fish and frozen seafood are witnessed to expand 1.5X its current in terms of market value over the forecast period in the seafood packaging market. According to FAO, China is the largest seafood producer across the globe, and in 2018, seafood imports increased, boosted by China’s large seafood processing capacity aimed at value-added seafood product exports. Domestic demand for seafood also remained strong in China in the last year, thereby fueling the growth of the seafood packaging market.

Rising Consumption of Ready-to-eat Meals to Boost Demand for Trays in Seafood Packaging Market

  • The increase in consumption of ready-to-eat meals boosts the demand for seafood packaging solutions worldwide. Ready-to-eat meals are hassle-free to eat, and make it easier to clean the microwave after the cooking process, which is an added advantage. The widespread popularity of ready-to-eat meals, especially seafood-based meals, boosts the need for further innovation in seafood packaging solutions such as trays, pouches, and bags.
  • Trays offer convenience 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. Today, the most commonly used packaging format for seafood packaging is trays as use of such packaging keeps the oven clean. On the back of these factors, consumers are readily attracted to products that are packaged in trays & pouches suitable for microwave ovens. This contributes to the growth of the seafood packaging market.

Modified Atmospheric Technology Gaining Traction in Seafood Packaging Market

  • MAP is a promising technology from a commercial and economic perspective, as use of such packaging solutions protects the product from external contamination and safeguards it against the release of exudations or smells. This has fueled the demand for MAP technology packaging in the seafood packaging market.
  • Major advancements in the application of modified atmospheric packaging and vacuum technology in the conservation of fresh and cooked shell fish have taken place when combined with other conservation treatments or technologies
  • However, vacuum packaging technology is anticipated to outdo other technologies in the seafood packaging market during the forecast period. Packaging converters are using vacuum packaging technology to preserve integrity & freshness of their product. Cost-effectiveness offered by use of this technology is anticipated to further boost the growth of the seafood packaging market.

Packaging Converters to Focus on Offering Multi-layer Pouches & Bags

  • Use of multi-layer pouches enhances the shelf life of perishable products such as fish and scallops. To preserve its quality, seafood must be quickly processed and packed using appropriate formats. Seafood packaging converters are focusing on retort-processed seafood, either packaged in metal cans or newer packing formats such as retort pouches. This is attributable to the fact that such formats are preferred by end-users due to the extended shelf life of the products. Moreover, consumers also prefer such convenient packaging for ready-to-eat food products.
  • Multi-layer packs can be resealed so that the contents of a pack need not be consumed immediately after opening. The increasing trend in the consumption of such retort products and their applications for packaging a wide range of products indicates a bright future for the seafood packaging market.
  • Oven safe bags & pouches offer tremendous growth prospects to players in the seafood packaging market. The value-added concept helps seafood marketers to increase their revenues significantly. The use of such bags minimizes the spread of the distinct fishy smell in the kitchen during the cooking process of fish. It also reduces the risk of various seafood-borne diseases. These attributes attract end-users and enable players in the seafood packaging to present their products in a more distinguished manner.

Preference for High Barrier Material to Offer Numerous Options for Seafood Packaging Converters

  • Use of nylon material is anticipated to provide remunerative opportunities for seafood packaging converters over the forecast period, as nylon has been accepted as best material for manufacturing ovenable roasting bags & pouches
  • Multilayer packaging films can be used as shrink films in primary seafood packaging. The film used in this application is a polyvinylidene chloride (PVDC) barrier film, with the sealant layer designed to provide toughness and puncture resistance, and oriented to provide acceptable shrink properties. Technologies such as vacuum packaging is combined with good sealant polymers such as EVA or LLDPE, where moisture barrier properties are more essential, especially for packaging high protein seafood products. 

Top Players Represent under 20% Share of Seafood Packaging Market

Seafood Packaging is a fragmented market, with the majority of the players operating regionally. Sealed Air Corporation, Amcor, DS Smith, and Smurfit Kappa are some of the players that have been identified as Tier 1 players in the seafood packaging market. Some of the global players included in the seafood packaging market report are

  • Amcor Plc.
  • Smurfit Kappa
  • Sealed Air Corporation
  • Winpak Ltd.
  • Crown Holdings Inc.
  • AEP Industries Inc.
  • DS Smith
  • Silgan Holding Inc.
  • Toyo Seikan Co. Ltd.
  • Visy Industries Holdings Pty Ltd.
  • Reynolds Group Holdings Ltd.
  • Sirane Limited.
  • Printpack Inc.
  • FFP Packaging Ltd.

Key players such as Sirane Ltd., DS Smith, and Amcor are adopting organic strategies such as product development and are increasing their production capacity to retain as well as improve their positions in this competitive market.

Market Segmentation

By Product Type

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

By Material

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

By Packaging Technology

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

By Application

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

By Seafood Type

  • Fish
  • Molluscs (Oysters, Scallops, Cuttlefish, etc.)
  • Crustaceans (Shrimps, Crabs, Lobsters, Krill, etc.)
  • Others (Sea Turtles, Star Fish, Sea Cucumbers, Plants, etc.)

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific (APAC)
  • Middle East & Africa (MEA)

Report Scope

The Seafood packaging market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Seafood packaging market for the base year 2020 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Seafood packaging market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Seafood packaging market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Seafood packaging market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Seafood packaging capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Seafood packaging by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Seafood packaging market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Seafood packaging market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Seafood packaging market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

For the region, type and application, the sales, revenue and their market share, growth rate are the key research objects; we can research the manufacturers' sales, price, revenue, cost and gross profit and their changes. What's more, we will display the main consumers, raw material manufacturers, distributors, etc.

Geographically, global xxx market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer.

We will provide market shares of the prominent market suppliers/companies separately for each of these geographies.

Overall, this is an in-depth research report specifically for the Seafood packaging industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Seafood packaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Seafood packaging market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Seafood packaging market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Seafood packaging market. These factors have benefited the growth of the global market for Seafood packaging. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Seafood packaging. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Seafood packaging are as follows:

  • History Year: 2016-2019
  • Base Year: 2020
  • Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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