Global seafood packaging market projected to grow from US$17.41B in 2023 to US$24.69B by 2030, exhibiting a CAGR of 5.12% during projected period; increased awareness of health benefits of seafood to drive market growth: report

June 16, 2023 (press release) –

The global seafood packaging market size was valued at USD 16.66 billion in 2022. The market is projected to grow from USD 17.41 billion in 2023 to USD 24.69 billion by 2030, exhibiting a CAGR of 5.12% during the projected period. Fortune Business Insights™ presents this information in its report titled, “Seafood Packaging Market Size, Share & COVID-19 Impact Analysis, By Material (Plastic, Paper, Metal, and Others), By Product Type (Trays, Bags & Pouches, Cans, Boxes, Shrink Films, and Others), By Packaging Technology (MAP, Vacuum Skin Packaging, and Others), By Application (Fresh & Frozen and Processed), By Seafood Type (Fish, Molluscs, Crustaceans, and Others), and Regional Forecasts, 2023-2030”.

During the estimated period, the demand for seafood packaging is anticipated to grow to escalate the demand for the product. Increasing customer understanding of the ingesting of fresh seafood that meets safety necessities anticipated to create occasions to develop new packaging solutions for fresh seafood- the increasing adoption of modified atmospheric packaging for fresh seafood.

SABIC Collaborated with Polivouga to Drive the Market Growth

In March 2022, SABIC, in collaboration with Polivouga, launched a unique TRUCIRCLE project to develop seafood packaging solutions, further designed to reuse post-consumer plastic waste recovered from areas up to 50km inland from waterways.

Negative COVID-19 Pandemic Impacts Seafood Packaging Industry to Limit Growth

The recent uncertain outbreak of COVID-19 has impacted market growth negatively. The seafood industry has witnessed a setback as many orders got canceled, goods deliveries were slowed, obstacles with obtaining fresh orders, refunds were cut and postponed, and renewing current orders. Hence, the market growth has declined during the pandemic. Hence, the demand for the market share is expected to decline during the pandemic.

Growing Awareness of the Health Benefits of Seafood to Propel the Market

Demand for superior food items with longer shelf life and better consistency is increasing rapidly. Among the food type, seafood is one of the most common. It is the most significant source of high-quality protein, supplying about 16% of the animal protein eaten by the world’s population. Fish is the primary or only source of animal protein in many developed countries and is important for supplying micronutrients to susceptible populations.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/seafood-packaging-market-103399

Partnership among Companies to Secure Their Brand Values in the Market

Players in the market have launched new techniques to boost market growth with their solutions and elevate the competition in the market. Companies have been applying for various programs, such as partnerships and mergers, to support their position in the market.

Notable Industry Development:

• July 2022: Amcor plc introduced SkinNova, seafood packaging with 70% less plastic. SkinNova minimizes the use of plastics by over 70% relative to traditional MAP packaging and cuts the carbon footprint by 45%.

LIST OF KEY COMPANIES PROFILED:

• Amcor plc (Australia)
• Crown Packaging (U.S.)
• Sealed Air (U.S.)
• WINPAK LTD. (Canada)
• Smurfit Kappa (Ireland)
• DS Smith (UK)
• Silgan Holdings Inc. (U.S.)
• SIRANE GROUP (U.K.)
• Printpack (U.S.)
• FFP Packaging Ltd. (U.K.)

Further Report Findings:

• Asia Pacific dominates the market share in terms of consumption and production of seafood. Factors include the high seafood production from Malaysia, Japan, India, Korea, Sri Lanka, and other countries.
• North America has the highest demand for seafood packaging is rising due to the high demand for canned seafood. A substantial increase in demand for canned fish products is credited to various factors like rising disposable income, increasing working women, and others.

Table of Segmentation:

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