The global skin packaging market size is expected to reach USD 13.38 Billion by 2025, registering a 5.8% CAGR over the forecast period, according to a new report by Grand View Research, Inc. Rising demand for cost-effective packaging solutions coupled with increasing focus on reducing the volume of packaging material required is expected to benefit the market growth.
Factors including rapid urbanization, changing lifestyles, and growing disposable incomes are likely to propel the demand for packaged goods, which is in turn likely to have a positive impact on the market growth. In addition, the increasing demand for innovative packaging solutions that ensure minimum product wastage is anticipated to boost the market growth.
Skin packaging offers several benefits such as increased shelf life of several food products, which helps minimize food wastage. In addition, it contours to the shape of the product without deforming it. The transparent and glossy film assists in attractive product presentation, thereby showcasing the product. Furthermore, the use of protective packaging fillers is reduced, thus making it an economical packaging option.
Plastic is the most commonly used material for skin packaging. Fluctuations in the prices of various plastic materials is further likely to impact the market growth. In addition, stringent regulations pertaining to plastic waste is expected to hamper the market growth over the forecast period. Thus, key players operating in the market are focusing on manufacturing products from sustainable materials such as bioplastics.
The skin packaging market is expected to be largely driven by the increasing demand for meat and poultry products especially in the developing countries in the Asia Pacific and Central & South America region. In addition, factors including affordability coupled with the growing middle-class population in these regions is further likely to strengthen the meat & poultry demand, which is in turn, likely to benefit the market growth.
“Read Report Summary, Toc, Market Segmentation, Research Methodology, Request a Free Sample“ Skin Packaging Market Click the link below:
Further key findings from the report suggest:
The global market is anticipated to reach USD 13.38 billion by 2025, growing at an estimated CAGR of 5.8% over the forecast period, on account of several factors including increasing demand for packaged food products and rising demand for packaging solutions that ensure improved shelf life.
The plastics material segment accounted for the largest revenue share in the year 2018. Plastic types commonly used for skin packaging include polyethylene, ionomer, polyvinyl chloride, and PET, among others.
The food application segment is anticipated to grow at a CAGR of 6.5% from 2019 to 2025 owing to the increasing consumption of various food products such as meat, poultry, and seafood, among others.
Asia-Pacific skin packaging market is slated to grow at a CAGR of 6.2% from 2019 to 2025 on account of several factors including increased spending power of the consumers, growing demand for convenient packaging, and rapid growth of the manufacturing sector in the region
Growing consumer demand for high protein intake in North America is expected to propel the meat demand in the region, which is further anticipated to benefit the regional market growth.
Mergers & acquisitions, product innovations, and business expansions are among the major strategies adopted by key market participants to reinforce their competitive positions in the market.
For instance, in February 2019, Sealed Air acquired the flexible packaging business of MGM, a Philippines based company that offers flexible packaging materials for the consumer packaged goods sector, particularly in the Southeast Asia region.
Have Any Query? Ask Our Experts (Inquiry Before Buying):
Curious to know more? (Request a Free Sample) Click the link below:
Grand View Research has segmented the skin packaging market on the basis of material, type, application, and region:
Skin Packaging Material Outlook (Revenue, USD Million; 2014 – 2025)
Paper & Paperboard
Skin Packaging Type Outlook (Revenue, USD Million; 2014 – 2025)
Skin Packaging Application Outlook (Revenue, USD Million; 2014 – 2025)
Skin Packaging Regional Outlook (Revenue, USD Million; 2014 – 2025)
Central & South America
Middle East & Africa
Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.
If you need specific information, which is not currently within the article, we will provide it to you as a part of customization
Request for Customization: www.grandviewresearch.com/request-for-customization/6859/rfc
Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.
Proceed to Buy, Select a license type that your business needs:
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 26 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 426 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
Country: United States