Seafood Packaging Market - Growing Disposable Incomes in Emerging markets is driving the Demand

Seafood Packaging Market: Introduction

Recent trends in global food & beverage industry shows that consumers are changing their preference towards health and wellness foods. Dairy products, meat, seafoods, poultry, fresh fruits & vegetables and others are the major health and wellness foods which are consumed worldwide. Dietary supplements also consumed for this purpose, but due to the lack of product knowledge and fear of adverse or harmful effects they are less preferred by consumers. Seafood is the most preferred health and wellness food worldwide, due to its rich nutrients, availability, rich experience, range of variety and affordability compared to other meat and meat products.Seafood microbial deterioration rate doubles with every 5.3oC increase in temperature.

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Deterioration during causes both quality and weight loss. Therefore quality and type of packaging has great importance in seafood industry. Preserving freshness and shelf life after catch and before selling to consumer is a very big challenge facing by seafood industry. Seafoods lose their freshness and shelf life very rapidly compared to other foods. So there is a need for efficient and reliable packaging for seafoods to preserve their shelf life. The other challenge is they produce odors, so packaging has to take of this fact that odor should not come out of packaging while stored in retail stores and super markets. Seafood packaging uses rigid trays with lidding films, pouches, cartons, aluminum containers, molded plastic containers, expanded polystyrene containers and others. Modified atmospheric packaging (MAP) is commonly used packaging method, which helps to preserve shelf life.

Seafood Packaging: Market Dynamics

Growing disposable incomes in emerging markets is driving the demand of seafood packaging market in Africa and Asia. China, India, Japan, Indonesia, Myanmar are highest exporters of seafood and they had percentage growth of more than 5% (FAO report) between 2013 and 2014 except India. Growth of high-end and premium seafood, rising consumer awareness about healthy nutrition are also driving the seafood packaging market.Growing exports of cheaper farmed fish from emerging markets like China, India, Indonesia, Taiwan is contributing a lot to the growth of global seafood production and packaging.

Global population is growing rapidly (7 billion mouths to feed), rapid aging of the global population are driving the worldwide demand for seafood packaging market. In Europe the scenario has changed from stagnant to moderate growth, but still the area is under some volatile situation due to Brexit (UK withdraws from the European Union) and Grexit (Greek government-debt crisis). The European seafood packaging market is slowly recovering from its stagnant growth witnessed over past few years. Rise of ‘quantified self’ and data driven diets, rising popularity of supplements and nutraceuticals, growth of fast casual foodservice, growing interest in 'mood food' are indirectly driving the demand for seafood packaging market.

Today the seafood supply chain is completely changed and became so complex that, sea catch or farm produced seafood has to cover long distances before reaching to consumer point. The hurdle is it should be preserved fresh and damage free till reaching to consumer. Technologies have evolved to make both industrial and consumer seafood packaging more efficient and reliable. Seafood is an extremely perishable food and should be handled with great care at all times to prevent the growth of microorganisms. Potential shelf life and quality of seafood deteriorates so rapidly if it is not handled and stored properly.

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Seafood will be frozen immediately after landing to prevent deterioration. Seafood industry shows seasonal dynamics. Atmospheric conditions has large effect on seafood industrial production. Therefore the volatile seafood prices. These facts affect the demand of seafood packaging market. Increasing scope of regulations, growing demand for traceability, convenience and transparency are also a restraint for the growth of seafood packaging market. Depleting seafood stocks, rising levels of sea pollution impact consumption of seafood and thereby seafood packaging market. Scams like “Horse meat scandal” 2013, slavery and trafficking in Thai fishing industry, Misnaming Scandal (“Market Substitution”) in SA Seafood Industry are hampering the growth of seafood and seafood packaging market.

Seafood Packaging: Market Segmentation

The seafood packaging market is segmented on the basis of application, product type and material. Based on application, seafood packaging are segmented into frozen seafood, fresh seafood, dried seafood and others. Based on product, seafood packaging market is segmented into containers, boxes, pouches, bags, cans, bottles, trays & others. Based on material, seafood packaging market is segmented into plastic, glass, paper, metal & others.

Seafood Packaging Market: Regional outlook

Seafood Packaging market has been segmented on the basis of region into North America, Latin America Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Middle East & Africa (MEA), and Japan. Matured seafood markets in developed regions like Western Europe and North America and Japan are expected show lucrative growth in coming years. Although sea catch levels or volumes are declining gradually in APEJ region E.g. China and India, the fish farming volume output is complementing the declined volume in sea catch. The volume of fish farming in gradually increasing year on year. This above mentioned factor influencing the growth of seafood packaging market in APEJ. North America and Japan are major importers or buyers of seafood from APEJ countries. Although Western Europe can internally meet its demand for seafood domestically, the demand for seafood is continuously rising in recent years.

Seafood Packaging Market: Key players

Some of the players in the global seafood packaging market are Bemis Company Inc., AEP Industries Inc., DuPont (EI) de Nemours, Smurfit Kappa Group, Visy Industries Holdings Pty Ltd, Tri-Mach Group Inc., Printpack Inc., Orora Packaging Australia Pty Ltd, ABBE CORRUGATED PTY. LTD, Cambridge Packing Company, Robert Mann Packaging Inc., International Packaging, Plastic Ingenuity Inc., Golden Eagle Extrusions, Inc., RM Converters Private Limited.

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