Market Overview
Skin packaging is gaining more popularity because it is useful to protect the product from various hostile conditions such as mechanical hazards, humidity, temperature, and others. The sectors related to food items, retail, industrial goods, and others are increasing the demand for skin packaging, leading to growing the Skin Packaging Market Size. Among all these sectors, the food industry has the domination for skin packaging with different categories such as bakery, fruits, vegetables, fresh meats, and ready to eat products.
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Hence, the major factors that are driving the growth of this marker are space-saving packaging, cost-efficiency, and increasing demand for packaged foods. Along with that, the capability to increase the shelf life of the product and the stringent regulations regarding packaging waste are expected to enhance the Skin Packaging Market Growth as it requires less resource for packaging of the product.
During the forecast period of 2017 to 2023, the LDPE is registered to dominate the global Skin Packaging market by generating a higher market share. The LDPE material segment is increasing its demand due to the increasing popularity of plastic-based packaging across all major end-users and the excessive lightweight nature of the LDPE. Overall, the Skin Packaging Market Trends is driving its growth due to the increase in global consumption of meat products, rapid urbanization in emerging economies, expansion of the food and packaging industry, and increasing trend of packed food.
Segmental Analysis
The segmental investigation of the skin packaging market is conducted based on application, material, and region. On the basis of material, the skin packaging market is segmented into LDPE, paper & paperboard, PVC, and others. The LDPE segment is expected to govern the skin packaging market in the forecast period. The application-based segmentation of the skin packaging market comprises of poultry, meat, cheese, and others. Based on the regions, the skin packaging market consists of Europe, Asia Pacific, North America, and the rest of the regions.
Detailed Regional Analysis
The regional review of the skin packaging market includes regions such as Europe, Asia Pacific, North America, and the rest of the regions. The research reveals that the Asia Pacific region is the principal skin packaging market, followed by the European region. The emerging economies like Japan, China, and India, are anticipated to reveal express development in the food industry, contributing to the advance of the skin packaging market. The advance in the region is motivated by speedy urbanization and increasing food consumption. The Asia Pacific region is accountable for around 35% to 40% share of the skin packaging market.
Competitive Analysis
The market is expected to record a stable growth rate in the coming years. The market competitors are expected to play a key role in the development of the global market. The development of adequate sources of raw material is predicted to transform the market in the upcoming period further. The availability of strong government support and the presence of encouraging policies are expected to enliven the growth prospects in the approaching period. The incidence of options that can be favorably capitalized on are aiding the market players in improving their overall position in the market. The balance in demand and supply in the market will prove as an encouraging growth factor in the forecast period. The competition in the market is manageable which is inducing the entry of new players in the global market. The upgrades in production methods are estimated to transform the potential of the market in the forecast period.
The noteworthy players in the skin packaging market are Berry Global Group, Inc. (U.S.), LINPAC Packaging Limited (U.K.), Sealed Air Corporation (U.S.), The DOW Chemical Company (U.S.), G. Mondini SA (Italy), Reynolds Flexible Packaging (U.S.), Westrock Company (U.S.), Clondalkin Group Holdings B.V. (Netherlands), and Display Pack Inc. (U.S.) to name a few.
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Industry Updates:
Jan 2020 Südpack Verpackungen has introduced its Multi SV Skin pack to the food packaging sector. The product is mainly targeted at chiefly food safety.
Dec 2019 Point Five Packaging, which specializies in creating vacuum skin packaging for ready meal solutions such as the CPET tray & the film used to the seal product is microwave and oven safe, and the trays they create are 100% recyclable. In association with a product line that is completely VSP enabled, they have now created an innovative CPET tray fit for vacuum skin packaging.
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