(Newswire.net — July 25, 2017) New York City, New York — Growing need for packaging fresh food with temperature resistance has led to a significant upsurge in demand for active and modified atmosphere packages. In addition, increasing need for biodegradable, and compostable packages will further impact growth of the global market of active and modified atmospheric packages.
Factors Propelling Growth of the Global Market
Increasing need for packaging fresh food products has led to various developments in the food packages. Moreover, surge in demand for packages that elongate shelf life of food products is likely to impact growth of the global market for active and modified atmosphere packages during the predicted period. Surge in demand for meat has further led retailers, and meat producers to opt for modified atmospheric packages. Glossy aesthetic, temperature resistance, and specific gas barrier is likely to impact growth of the global active and modified atmospheric packaging market throughout 2024.
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Adoption of this technology has benefitted retailers and meat producers as it differentiates the products from their competitors. Attributed to various benefits, the active and modified atmospheric packages will witness significant demand in the global market by the end of 2024. Increasing demand for biodegradable and compostable demand is likely to impact growth of the global active and modified atmospheric packaging market during the projected period.
Meat, Poultry & Seafood to Remain Dominant Segment
Meat, poultry & seafood segment among other applications is likely to represent a dominant segment in the global active and modified atmospheric packaging market throughout 2024. This segment is likely to represent a steady growth in the global market during the predicted period. Dairy products among others will register 6% CAGR in the global market of active and modified packaging by 2024 end. Extension of shelf life and increasing sustainability is likely to impact growth of the global market of active and modified atmospheric packaging through 2024. Polyethylene terephthalate is likely to reflect 1.5X growth in terms of revenue by the end of 2024.
APAC to Represent a Leading Market
APAC among other regions is likely to remain an attractive market for investment in the packaging sector by 2024 end. The food and beverages manufacturers in Europe account for a major part of the overall export from Asia in the active and modified atmospheric packaging market. Asia Pacific represented a major revenue share in the global market for active and modified atmospheric packaging in 2015. The active and modified atmosphere packaging market in APAC will register 6% CAGR growth, and is likely to represent 1.6X during the predicted period. Latin America among other regions will reflect a CAGR lower than 6% by the end of 2024.
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Market Players
Major market players operating in the global active and modified atmospheric packaging market include Sealed air corporation, Amcor Limited, Bemis company Inc., and Berry Plastic Group Inc. Other market players operating in the global active and modified atmospheric packaging market include Coveris Holdings S.A, Linpac Packaging, ULMA Packaging, Winpak Limited Company, Ilapac International S.A., and S. Coop.
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