In 2023, it is anticipated that the market for plant-based meat packaging would be valued US$ 424.6 million. By 2033, the market is anticipated to reach more than US$ 987.0 million at a CAGR of 8.8%. The growing popularity of plant-based diets is driving a rise in the demand for plant-based meat, which has in turn led to an increase in the demand for plant-based meat packaging. The market for plant-based meat packaging will eventually develop faster as plant-based meat consumption rises. The packaging can extend the plant-based meat’s shelf life.
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Rising Concern Towards Health and Hygiene to Boost the Plant Based Meat Packaging Market
The growth of plant-based meat is driven by the rising trend of plant-based food diets. Also, with the rise in the consumption of packaged food due to the busy schedule and the rising concern towards hygiene, the growth of the market can be seen. The growth of the market increases due to the rise in the shifting preferences of people towards a vegetarian diet.
With the rise in health issues, consumer preference is shifting towards plant-based meat rather than animal-based meat. Due to the increase in the consumption of the ready to eat products, the market expansion can be seen. Most of the companies are using packages which are mostly made of synthetic material, which is generally used for keeping the food fresh for long time. As the material should be long lasting, the companies are manufacturing products which are sustainable for longer period of time.
Key Takeaways from the Plant Based Meat Packaging Market:
- The plant based meat packaging industry in the United States is predicted to reach US$ 144.2 million by 2033, increasing at a 4.6% CAGR.
- The plant based meat packaging industry in the United Kingdom is estimated to reach a market share of US$ 13.8 million, expanding at a CAGR of 1.8% by 2033.
- During the forecast period, the plant based meat packaging industry in China is expected to reach a market share of US$ 131.3 million, securing an 6.0% CAGR.
- With a CAGR of 5.4% from 2022 to 2033, the plastic segment is expected to dominate the plant based meat packaging industry.
- With a CAGR of 5.1% from 2022 to 2033, the pouch segment is expected to dominate the plant based meat packaging industry.
How Does the Competition Look in the Plant Based Meat Packaging Market?
The plant based meat packaging industry has a highly competitive landscape, with a significant increase in the number of players vying for market share. Several significant participants in this industry comprise Amcor Plc, Sealed Air Corporation, Berry Global Inc., Oji Holdings, among other companies.
To provide improved effectiveness, dependability, and affordability, the major key players are investing in research and development. The major players are concentrating on reinforcing their distribution channels and broadening their range of products to meet the changing demands of clients.
Major key players to fortify their market standing and acquire entry to fresh markets are utilizing mergers and acquisitions. The industry is experiencing growth in the emerging markets such as India and China.
By strengthening their distribution networks and establishing local manufacturing facilities the major key players are expanding their presence in these markets.
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Key Players in the Plant Based Meat Packaging Industry
- Amcor Plc
- Sealed Air Corporation
- Berry Global
- Oji Holdings
Segmentation Analysis of the Plant Based Meat Packaging Market
By Material Type:
- Plastic
- Paper
- Plant based Films
- Others (Glass, Metal, etc.)
By Packaging Type:
- Trays
- Pouches
- Wrappers
- Cartons
- Others (Cans, etc.)
By Product Type:
- Plant-based Burgers
- Plant-based Sausage Products
- Plant-based Meat Products
- Others (Plant-based Nuggets, etc.)
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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