Research Blogs

Increasing demand for packaged meat is leading to fast paced growth of the industry

Published on: Tuesday 15th August 2017

Food is one of the basic needs of human being. Since ages, people are eating meats of various animals, birds, fish etc. Packaged meat has gained a popularity nowadays due to multiple reasons. Demand for meat packaging is high still this vertical is expected to witness a single-digit growth in coming years. The main purpose of packaging is to provide a fresh and intact form of food without any spoilage. In this era of globalisation, everyone wants to have the best quality, and if it is a food, then everyone is somehow extra concerned about it. As per Technavio’s latest packaging industry report, global frozen food packaging market is likely to grow at a CAGR of 4.78% in the nearest future. The demand for frozen specialities packaging will increase at an average rate of 5.06% annually, accounting for USD 14.01 billion in global revenue by 2020. These statistics are interesting and create an optimistic feeling in one’s mind. The global demand for ready to eat food is also augmenting this industry.

Packaged meat industry is mainly fragmented worldwide on the demographic basis. It is differentiated according to the food habits of people in U.S, U.K, Europe, Asia-Pacific Region, Africa.  In developed countries, people expect high-quality packaging and hygienic food to get served. They are even ready to pay some extra amount for such packaged foods. Hence, this industry has taken a good share in developed countries. In comparison to that, emerged countries are still lagging in the race. The majority of the mass customer in the developing countries is ready to make a compromise with quality when it comes to the monetary compliances. This is the main reason for slow growth of the industry in emerging countries. Still, metro cities in the emerging countries have given a ‘thumbs up’ for packaged food, but tier 2 & tier 3 cities are giving mixed response. 

Still, the increasing global demand for packaged meat is leading to the fast-paced growth of this vertical in the industry. It is also providing the vendors with a ray of hope, because of which they are also coming up with completely innovative and customer oriented ideas to grow the business. 

In short, the scenario is not that much optimistic for emerging countries. Still, researchers & prominent analyst in the vertical anticipate that India will witness the highest growth rate in the packaged meat industry in coming years.  

Related Reports




Our Clients