Press release
Skin Packaging Market by Material (Plastic films, Paper & Paperboard, Others), Type (Carded, Non-carded), Heat Seal Coating (Solvent-based, Water-based, others), & Application (Food, Consumer goods, Industrial goods, others) - Global Forecast to 2020
Skin Packaging Market
Non-carded skin packaging is projected to be the fastest-growing product type segment from 2015 to 2020. Plastic film is projected to be the fastest-growing material segment in the skin packaging market over the next five years.
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Skin Packaging Market Competitor Analysis
The competitive landscape of the Skin Packaging Market is moderately fragmented as it consists of several players. As the market participants spend on R&D, their products are becoming more distinct. The idea of product differentiation is to gain a competitive edge.
• May 2022 - Amcor Plc developed the latest technology, PowerPostTMthat delivers a bottle that is up to 30% lighter and can be made from 100% recycled material. The technology is designed for hot fill beverages and avoids spills from overflow. Furthermore, the product is built on vacuum-absorbing technology PowerStrap.
• April 2022 - Sealed Air announced a partnership on an advanced recycling program that will concentrate on recycling flexible plastics from the food supply chain and recreating them into new certified circular food-grade packaging.
The Asia-Pacific region accounted for around 35% of the total market share in terms of value, followed by Europe and North America. The skin packaging market in developing countries such as China and India are projected to grow at a higher rate from 2015 to 2020. China is estimated to grow faster than any other country because of its strong economic growth, along with increase in food consumption and rapid urbanization.
Skin Packaging Market Analysis
The skin packaging market will register a CAGR of 6.5% during the forecast period. Recent advances in packaging technology have resulted in the growing popularity of skin packaging as an effective and efficient packaging strategy. Skin packaging decreases the need for protective packaging fillers, making it a cost-effective packaging option compared to other methods.
• The rise in market value is driven by increased urbanization, modernization, globalization, rising manufacturing activity, and expanding need for convenient parking options.
• The increasing use of skin packaging in food products such as meat, seafood, and poultry, among others, on account of improved shelf life coupled with the lesser material requirements, is anticipated to propel the product demand over the forecast period.
• Skin Packaging is manufactured using vacuum technology to store food for extended periods. However, the machines used for vacuum skin packaging are relatively expensive. Moreover, substitutes are available for skin packagings, such as blister packaging, shrink barrier packaging, vacuum bags, and many others. Thus, the high initial cost and availability of substitutes may hamper the market growth.
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Scope of the Report
This research categorizes the global skin packaging market based on type, base material, heat seal coating, application, and region:
Based on Base Material:
• Plastic films
• Polyethylene
• PET
• PVC
• Others
• Paper & Paperboard
• WLC
• SBS
• Others
Based on Type:
• Carded Skin Packaging
• Non-carded Skin Packaging
'
Based on Heat Seal Coating:
• Water-based
• Solvent-based
• Others
Based on Application:
• Food
• Meat, poultry & seafood
• Fresh produce
• Others
Increasing disposable incomes of people, rapid urbanization, and changing lifestyles are likely to drive the demand for packed goods. This will further boost the market for skin packaging over the next five years. In addition to this, the rising competition and concern towards environment will increase the demand for innovative packaging options, which is cost effective , differentiates products and appeals customers. This will drive developments in technologies used for skin packaging.
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