Active And Modified Atmospheric Packaging Market to Exceed US$ 26,000 Mn in 2024
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In the modified atmospheric packaging, vacuum and controlled packaging is being used on a large scale to maintain the quality of the product. However, there are various concerns regarding modified atmospheric packaging such as accumulation of ethylene in the pack. Hence, manufacturers are trying to provide packaging that can help to keep ethylene at a low level to increase shelf-life of the products.
According to the report by Persistence Market Research (PMR), the global market for active and modified atmospheric packaging is likely to witness steady growth during the forecast period 2017-2024. The global active and modified atmospheric packaging market is estimated to bring in more than US$ 26,000 Million revenue by the end of 2024.
Polyethylene to be Used on a Large Scale for Active and Modified Atmospheric Packaging
Based on the material type, polyethylene is expected to witness the highest growth during 2017-2024. By the end of 2024, polyethylene is estimated to surpass US$ 10,000 Million in terms of value.
On the basis of application, active and modified atmospheric packaging is expected to find the largest application in meat, poultry, and seafood packaging during the forecast period. By 2024 end, meat, poultry, and seafood is projected to bring in more than US$ 9,000 Million revenue. Meanwhile, active and modified atmospheric packaging is also likely to be used on a large scale in packaging fruits and vegetables.
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Asia Pacific to Lead the Global Market for Active and Modified Atmospheric Packaging
Geographically, Asia Pacific (APAC) is expected to lead the global active and modified atmospheric packaging market from 2017 to 2024. APAC is also estimated to exceed US$ 10,000 Million revenue by 2024 end. Increasing demand for packaged quality food is driving the growth of the active and modified atmospheric packaging in the Asia Pacific region. China and India are likely to emerge as the largest country in Asia Pacific region for active and modified atmospheric packaging. The only concern or the factor hampering the growth is the high cost of machines and materials used in active and modified atmospheric packaging.
Leading Players in the Global Active and Modified Atmospheric Packaging Market
Some of the leading players in the global market for active and modified atmospheric packaging are Amcor Limited, Bemis Company Inc., LINPAC Packaging Limited, Coveris Holdings S.A, Sealed Air Corporation, Berry Plastics Corporation, Ilapak International, S.A., Winpak Limited Company, and ULMA Packaging, S. Co.
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Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
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