The seafood packaging market, which has benefitted from growing aquaculture activities around the world, particularly in Asia, is expected to reach a valuation of USD 6.5 billion (EUR 5.3 billion) by 2027, according to Transparency Market Research.
The seafood sector is a realm of ample opportunity for the packaging industry, Transparency Market Research said in a recent report.
“The seafood packaging market has made advances on the back of thriving aquaculture activities, especially in Asia Pacific. Advent of an array of materials used in primary and secondary packaging on one hand, and constant progress in modified atmosphere packaging (MAP) and vacuum-packaging on the other hand shape these advances,” the research firm said.
As of late, seafood packagers have been focusing on “advanced food preservation needs during transportation,” as well as the sustainability of materials used to house such products, the research company said.
“Seafood brands tapping into the vast revenue potential found in North America and Europe will expand their product portfolios toward sustainability,” Transparency Market Research added. “Together with this, a continuously rising aquaculture industry, and seafood trade will help the seafood packaging market to touch the mark of USD 6.5 billion [EUR 5.3 billion] by the period-end.”
The report said seafood brands are looking for packaging partners that can provide high-end technologies to meet the safety, quality, and responsibility mandates of their offerings.
“Brands are keen on adopting processing technologies that prolong the shelf-life and nutritional value of the final products. In the scenario, both vacuum skin-packaging and modified atmosphere packaging (MAP) have seen widespread adoption. For instance, vacuum packaging technology are adopted by packaging converters, due to better food preservation and cost-effectiveness,” Transparency Market Research said.
Seafood companies are increasingly looking toward alternative packaging technologies and new packaging materials and methods, including retorting using pouches, metal cans, and polyvinylidene chloride (PVDC) barrier films, to preserve the freshness of seafood products, the report found.
“[The seafood industry’s] consistent focus on offering convenience has led to the use of different polymers for food cans, shrink films, boxes, and pouches. A popular product category is microwave-safe pouches. Multi-layer pouches and bags are expanding the choice of consumers to consume these at their convenience, for instance. Further, packaging companies can also harness these packaging to advance their brand positioning,” the firm said.
Recyclable packaging options have grown in prominence over the years, and will continue to do so, Transparency Market Research predicted.
“Aside from the high-barrier requirement seafood packaging are expected to meet, the seafood packaging market is making conscious transition toward the use of recyclable materials. As industry experts concur, the environmental sustainability of seafood packaging materials and the sustainability of aquaculture activities in various economies must go hand-in-hand. Regulators, notably the FDA, and organizations such as the FAO have reiterated this, nudging companies serving the seafood packaging market to expand their product portfolio on these lines,” it said.
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