Seafood Packaging Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Product Type (Bags & Boxes, Cans, Films, Jars, Trays, Others), By Material Type (Metal, Paper & Paperboard, Plastic (High Density Polyethylene (HDPE), Low Density Polyethylene (LDPE), Poly Vinyl Chloride (PVC), Polyamide (PA), Polyethylene Terephthalate (PET), Polypropylene (PP)), Glass, Others), By Application (Processed (High Dried Seafood, Frozen & Chilled Sea Food, Ready To Eat (RTE) Seafood), Fresh Seafood), By Packaging Technology (Modified Atmospheric Packaging (MAP), Retort Packaging, Vacuum Packaging), By Seafood Type (Crustaceans, Fish, Mollusks, Others), And By Geography - Forecasts From 2022 To 2027

Published:  Sep 2022 Report Code: KSI061613494 Pages: 120

The seafood packaging market is projected to grow at a CAGR of 5.47% to reach US$27.422 billion by 2027, from US$18.884 billion in 2020. As lives have become even more fast-paced due to technological advancements and the changing nature of deliverables and rotational working hours, there has been a surge in the need for meals on the go and meal kits. Pure-play online digitally delivered food and beverage servers are increasingly offering an all-inclusive meal option among a plethora of a la carte services on their digital menus, which consumers, namely digital adopters, are interested in due to the convenience associated with such options. Multichannel adapters have their consumption behaviour over a variety of food and beverage establishments, for example, convenience stores like traditional shoppers.  However, their rationale is that of speed and convenience, hence they will also prefer fast food establishments too. They are also keen on frequenting fine dining options to acquaint themselves with a celebrated preparation that may have received a lot of media attention recently. Furthermore, they will also turn to digital delivery options if they are highly recommended by their acquaintances.

A mix of traditionalist and experimentalist consumers across all age groups frequent pubs, local eateries, bars, and fine dining establishments, along with other types of food and beverage establishments. Thus, the food and beverage expenditure that is a consequence of habits and inclination has surged. This has led to a steep rise in demand for processed foods. Furthermore, increasing inclination of embracing the flexitarian diet, a keenness to sample exotic cuisine, and meat-eaters who have restricted their food consumption to fish, also called pescatarians. Thus, owing to the aforesaid, there is an increasing demand for food with fewer preservatives another aspect of gastronomic endeavours is the rise in ready-to-eat (RTE) food products, with the portion of seafood rising exponentially as a result of emerging economies and their shift in consumption patterns. Disposable income rises as an increasing number of housewives supplement their household income by entering the labour market.

The rise in the travel and tourism market, of which food and beverage (F&B) is an inseparable part, has also led to the rise in the seafood packaging market, whereby the various service points, like standalone F&B establishments as well as chains, cruise-liners, and hotels, among others, ensure good quality products to their esteemed clients. For example, in China, in 2019 6.01 billion domestic tourists were registered, which is an increase of 8.4% over that of the previous year. The revenue generated by domestic tourism alone totalled 5,725.1 billion yuan, which is an increase of 11.7 % from the preceding year.  Further, the number of inbound visitors to China was to the tune of 145.31 million, which is an increase of 2.9 %. The receipts from tourism were to the tune of 131.3 billion US dollars, which was an increment of  3.3 percent when compared to the previous year.

Therefore, by the aforementioned increments, it is discerned with certitude that there is a growing number of visits to the country. Besides, the per capita disposable income of urban households was 42,359 yuan, an increase of 7.9 % from the previous year [Source: National Bureau of Statistics of China]. This is also enabling the population in China to be inclined towards spending on food and beverage establishments and availing the same in more quantities and frequency. Concerning India, as of December 2019, the e-visa facility has been extended to the nationals of 169 Countries under 5 sub-categories which are e-Business visa, e-Conference Visa, e-Medical Attendant Visa, e-medical visa and e-Tourist visa. Further, there have been introductions such as an e-Tourist Visa for 5 years with multiple entries, in addition to the existing e-Tourist Visa for one year and a new category of e-Tourist Visa valid for one month. Moreover, the Ministry of Tourism has constituted Task Forces/Committees for the promotion of golf, medical/ wellness, cruise and adventure tourism in the country to promote niche tourism. Among the plethora of tourism options one particular offering stands out, is medical tourism, which is also internationally monikered as medical travel, health tourism, or global healthcare. As of 2018, the estimated foreign exchange earnings from tourism were US $25.8 billion [Source: Ministry of Tourism, Government of India].

The aforesaid is a glimpse into the development of travel tourism from both demand and policy aspects in the APAC region, which is projected to drive the growth of the seafood market to new heights during the forecast period. From the perspective of the EU, taking the example of Luxembourg, The participation in business tourism increased from 34.7% in 2016 to 35.4% in 2018. Further, compared to that in 2017, putting up at hotels increased from 46.5% in 2017 to 47.8% in 2018 and there was a marginal increase to 10.6% in 2018 from 10.1% in 2017 with regards to putting up at homestays. Moreover, the most preferred means of transport to reach the destination of the leisure trip was a personal vehicle, which increased from 47.5% in 2017 to 49.8% in 2018. Moreover, albeit marginal the average duration of leisure trips increased to 12.3 nights in 2018 from 11.8 in 2017Furthermore, the duration of three-night leisure trips increased to 38.1% in 2018 from 36.4% in 2017 [Source: STATEC, Luxembourg]. Therefore, by the aforementioned increments, it is discerned with certitude that there is a growing number of visits to the country as well as increasing interest of consumers to avail more options irrespective of the nature of the travel (business or leisure). This, too, like the aspects mentioned earlier, is a driving factor toward the seafood packaging market’s growth, during the forecast period.

Key Developments in the Market

  • In March 2022, SABIC, Saudi Arabia-based diversified chemicals firm, and Polivuga, a Portuguese flexible film packaging solutions provider, collaboratively launched a new project - TRUCIRCLE, to design and develop a new seafood packaging solution. The packaging is designed in a way that allows the recovery and reuse of plastic from across 50 km inland in the waterways. The new sustainable packaging was launched on Worlds Ocean Day in 2022.
  • In December 2021, Australia-based Close Loop Limited announced the acquisition of Oceanic Agencies Pty Ltd., a global manufacturer of commercial packaging solutions. Through this acquisition, the former expanded its portfolio in burgeoning bulk and commercial seafood packaging solutions and is a step towards the company's initiative to enter into a niche sustainable packaging industry. 

COVID-19 Insights:

COVID-19 had a significant impact on the global seafood packaging industry. Amid the pandemic, the growing health awareness and the demand for transparency increased the demand for branded packaging and product recognition. Subsequently, this boosted the production and supply of various styles of packaging.

Seafood Packaging Market Scope:

Report Metric Details
 Market Size Value in 2020  US$18.884 billion
 Market Size Value in 2027  US$27.422 billion
 Growth Rate  CAGR of 5.47% from 2020 to 2027
 Base Year  2020
 Forecast Period  2022–2027
 Forecast Unit (Value)  USD Billion
 Segments Covered  Product Type, Material Type, Application, Packaging Technology, Seafood Type, And Geography
 Regions Covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies Covered Amcor Plc, Berry Global Inc., Cambridge Packing Company, CoolSeal USA, Crown, DS Smith, DuPont de Nemours, Inc., Flexopack S.A., Orora Packaging Australia Pty Ltd, Printpack, Sealed Air, Silgan Holdings Inc., SIRANE GROUP, Sixto Packaging Inc., Smurfit Kappa Group, Star-Box, Inc., Toyo Seikan Group Holdings, Ltd., Tri-Mach Group Inc, ULMA Packaging (ULMA GROUP), Victory Packaging, Visy, Wihuri Oy
 Customization Scope  Free report customization with purchase

 

Segmentation

  • By Product Type
    • Bags & Boxes  
    • Cans
    • Films
    • Jars
    • Trays
    • Others
  • By Material Type
    • Metal
    • Paper & Paperboard
    • Plastic
      • High Density Polyethylene (HDPE)
      • Low Density Polyethylene (LDPE)
      • Poly Vinyl Chloride (PVC)
      • Polyamide (PA)
      • Polyethylene Terephthalate (PET)
      • Polypropylene (PP)
    • Glass
    • Others
  • By Application
    • Processed
      • High Dried Seafood
      • Frozen & Chilled Sea Food
      • Ready to Eat (RTE) Seafood
    • Fresh Seafood
  • By Packaging Technology
    • Modified Atmospheric Packaging (MAP)
    • Retort Packaging
    • Vacuum Packaging
  • By Seafood Type
    • Crustaceans
    • Fish
    • Mollusks
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Others
    • The Middle East and Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Indonesia
      • Thailand
      • Taiwan
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the seafood packaging market size by 2027?
A1. The seafood packaging market is projected to reach a market size of US$27.422 billion in 2027.


Q2. What is the size of the seafood packaging market?
A2. Seafood Packaging Market was valued at US$18.884 billion in 2020.


Q3. What are the growth prospects for the seafood packaging market?
A3. The seafood packaging market is projected to grow at a CAGR of 5.47% over the forecast period.


Q4. How is the global seafood packaging market segmented?
A4. The seafood packaging market is segmented by product type, material type, application, packaging technology, seafood type, and geography. 


Q5. What factors are anticipated to drive the seafood packaging market growth?
A5. The rise in the travel and tourism market of which food and beverage (F&B) is an inseparable part has led to the rise in the seafood packaging market.

1. Introduction
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation


2. Research Methodology  
2.1. Research Data
2.2. Assumptions


3. Executive Summary
3.1. Research Highlights


4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis


5.  Seafood Packaging Market Analysis, By Product Type
5.1.  Introduction
5.2.  Bags & Boxes   
5.3.  Cans
5.4.  Films
5.5.  Jars
5.6.  Trays
5.7.  Others

6.  Seafood Packaging Market, By Material Type
6.1.  Introduction
6.2.  Metal
6.3.  Paper & Paperboard 
6.4.  Plastic
6.4.1.  Brachy High-Density Polyethylene (HDPE)
6.4.2.  Low-Density Polyethylene (LDPE)
6.4.3.  Poly Vinyl Chloride (PVC)
6.4.4.  Polyamide (PA)
6.4.5.  Polyethylene Terephthalate (PET)
6.4.6.  Polypropylene (PP)
6.5.  Glass
6.6.  Others (Wood, Fabric, etc


7.  Seafood Packaging Market, By Material Type
7.1.  Introduction
7.2.  Processed
7.2.1.  Dried Seafood
7.2.2.  Frozen & Chilled Sea Food
7.3.  Ready to Eat (RTE) Seafood
7.4.  Fresh Seafood
7.5.  Others


8.  Seafood Packaging Market Analysis, By Packaging Technology
8.1.  Introduction
8.2.  Modified Atmospheric Packaging (MAP)
8.3.  Retort Packaging
8.4.  Vacuum Packaging


9.  Seafood Packaging Market Analysis, By Seafood Type
9.1.  Introduction
9.2.  Crustaceans 
9.3.  Fish
9.4.  Mollusks 
9.5.  Others


10.  Seafood Packaging Market Analysis, by Geography
10.1.  Introduction
10.2.  North America
10.2.1. United States
10.2.2.  Canada
10.2.3.  Mexico
10.3. South America
10.3.1. Brazil
10.3.2.  Argentina
10.3.3.  Others
10.4.  Europe
10.4.1. UK
10.4.2.  Germany
10.4.3.  France
10.4.4.  Others
10.5.  The Middle East and Africa
10.5.1.   Saudi Arabia
10.5.2.  United Arab Emirates
10.5.3.  Israel
10.5.4.  Others
10.6.  Asia Pacific
10.6.1.  Japan
10.6.2.  China
10.6.3.  India
10.6.4. South Korea
10.6.5. Indonesia
10.6.6. Thailand 
10.6.7. Taiwan 
10.6.8.  Others


11.  Competitive Environment and Analysis
11.1.  Major Players and Strategy Analysis
11.2.  Emerging Players and Market Lucrativeness
11.3.  Mergers, Acquisitions, Agreements, and Collaborations
11.4.  Vendor Competitiveness Matrix


12. Company Profiles
12.1.  Advanced Amcor Plc
12.2.  Berry Global Inc
12.3.  Cambridge Packing Company 
12.4.  CoolSeal USA 
12.5.  Crown 
12.6.  DS Smith
12.7.  DuPont de Nemours, Inc
12.8.  Flexopack S
12.9.  Orora Packaging Australia Pty Ltd
12.10.  Printpack 
12.11.  Sealed Air 
12.12.  Silgan Holdings Inc
12.13.  SIRANE GROUP 
12.14.  Sixto Packaging Inc
12.15.  Smurfit Kappa Group 
12.16.  Star-Box, Inc
12.17.  Toyo Seikan Group Holdings, Ltd
12.18.  Tri-Mach Group Inc 
12.19.  ULMA Packaging (ULMA GROUP) 
12.20.  Victory Packaging 
12.21.  Visy 
12.22.  Wihuri Oy 

Amcor Plc

Berry Global Inc.

Cambridge Packing Company

CoolSeal USA

Crown

DS Smith

DuPont de Nemours, Inc.

Flexopack S.A.

Orora Packaging Australia Pty Ltd

Printpack

Sealed Air

Silgan Holdings Inc.

SIRANE GROUP

Sixto Packaging Inc.

Smurfit Kappa Group

Star-Box, Inc.

Toyo Seikan Group Holdings, Ltd.

Tri-Mach Group Inc

ULMA Packaging (ULMA GROUP)

Victory Packaging

Visy

Wihuri Oy

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