Seafood Packaging Market Size, Share & COVID-19 Impact Analysis, By Material (Plastic, Paper, Metal, and Others), By Product Type (Trays, Bags & Pouches, Cans, Boxes, Shrink Films, and Others), By Packaging Technology (MAP, Vacuum Skin Packaging, and Others), By Application (Fresh & Frozen and Processed), By Seafood Type (Fish, Molluscs, Crustaceans, and Others), and Regional Forecasts, 2023-2030

The global seafood packaging market size was valued at USD 16.66 billion in 2022 and market is projected to grow from USD 17.41 billion in 2023 to USD 24.69 billion by 2030, exhibiting a CAGR of 5.12% during the forecast period.

Consumers are moving towards healthier semi-processed pre-packed refrigerated options, boosting the market. In today's busy lifestyles increase in home consumption items is strongly affected by the minimal time available for meal preparation. In addition, coupled with social affluence, economic and lifestyle choices regarding disposable income are driving the market. Growing customer understanding of the consumption of fresh seafood that meets safety requirements will likely create opportunities to develop new packaging solutions for fresh seafood—the growing adoption of modified atmospheric packaging to fuel the market.

COVID-19 IMPACT

Seafood Industry Faced Major Impact Due to COVID-19 Pandemic, Lowering Product Demand

It is suspected that the novel coronavirus appeared late last year in a market that sold seafood and wildlife in the central Chinese town of Wuhan. The seafood industry has been hit globally because of COVID-19. It has resulted in many orders being cancelled, freight deliveries being slowed, refunds being cut and postponed, and problems with obtaining fresh orders and renewing existing orders. Fish and fish goods heavily dependent on foreign trading suffered from the sanctions and disruptions of global markets. Some countries' lockdowns have resulted in logistical difficulties in the seafood trade, especially regarding restrictions on transportation and border crossings.

Capture fishery production in some countries has been suspended or drastically decreased due to the decline in demand and subsequent price declines, which may positively impact wild fish populations in the short term. Growing evidence in aquaculture shows that unsold production would lead to a rise in live fish supplies, thus higher feeding costs and a higher risk of fish mortality. Additionally, news of China authorities detecting the novel coronavirus on the packaging of frozen manufactured seafood has impacted the industry as China is one of the major seafood producers. The risk of the potential virus carrier has negatively impacted the industry's sales.

LATEST TRENDS

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Rising Demand of Ready-to-eat Meals to Boost Use of Trays in the Target Market

Busy urban lifestyles and rising knowledge of fish as a safe food with high levels of digestible protein, polyunsaturated fatty acids (PUFAs), and cholesterol-lowering properties, marinated and ready-to-cook foods in metros are progressively embraced. Ready-to-eat meals are easy to prepare and, during the cooking process, make it easier to clean the oven, which is an additional bonus. The widespread popularity of ready-to-eat meals, especially meals focused on seafood, increases the need for more creativity in packaging solutions for seafood, such as trays, pouches, and bags. Trays offer comfort, encouraging customers to cook food directly by placing it in an oven or microwave without compromising its consistency and taste. Today, when such packaging keeps the range hot, the most widely used packaging type for packaging is trays. Consumers are readily drawn to items based on these criteria that are packed in trays & pouches suitable for microwave ovens.

DRIVING FACTORS

Increased Awareness of the Health Benefits of Seafood to Drive the Market

Demand for high-quality food items with better consistency and shelf life is growing rapidly. Packaging has brought about a revolution in the production and selling of food items like seafood. Among the food types, in terms of intake, seafood is one of the most common. Fish is a crucial food supply to humans. It is the most important source of high-quality protein, supplying about 16 % of the animal protein eaten by the world's population (Food and Agriculture Organization (FAO)). According to the Food and Agriculture Organization and World Health Organization, the intake of oily fish such as tuna and salmon by the adult population worldwide tends to minimize the risk of coronary heart disease mortality. A growing emphasis on fish and agriculture supports developing countries and the creation. Fish is the primary or only source of animal protein in many developed countries and is important for supplying micronutrients to vulnerable populations.

Fish are among the most valuable natural commodities in the world by any measure. In addition, with over 25,000 recognized species, marine ecology, habitat preservation, regeneration, and marine environmental protection are gradually understanding the biodiversity and ecological functions of the fish. The trend toward healthier eating majorly drives the market.

Innovations in Packaging Technologies to Propel the Market

Conventional packaging concepts are limited in their capacity to extend the shelf-life of fishery products. It can be resolved by introducing vacuum and modified atmosphere packaging (MAP) technologies. However, in the case of MAP, these require capital expenditure, apart from the need for fresh food-grade gas. It has inspired the creation of new and updated strategies for preserving food consistency and prolonging shelf life. Active and smart packaging, called smart packaging technology, is one such innovative packaging strategy that protects different food systems like fish and shellfish. The market for active and smart packaging solutions is driven by the production of new technologies of products and more cost-effective pricing, which would promote greater market adoption for many product styles.

Packaging has four core functions: containment, security, comfort, and connectivity. Conventional packaging schemes provide minimal protection and only interact through the logo. It will not detail the product's content and safety. Active and smart packaging strengthens safety and connectivity features.

RESTRAINING FACTORS

Increasing Instances of Food Contamination to Limit Market Adoption

Microorganisms are the primary source of spoilage in most seafood products. However, a few bacteria termed Unique Spoilage Organisms (SSOs), contribute to the aggressive off-flavors associated with seafood spoilage. Microbial decay of food presents itself as spoilage, or changes in the sensory properties of a food component, making it unfit for human consumption. Seafood may be exposed to accelerated microbial degradation and growth where care and storage are insufficient. Some microorganisms cause spoilage to differing degrees depending on the overall microbial flora, nature of the fish, methods of handling and packing, and storage temperature.

Packaging firms are adapting to recent mandates to stop degradation or misinformation before the substance enters the supply chain. Unregulated, incorrectly prepared, or processed products may be susceptible to microbiological contamination and cross-contamination. Seafood is frequently subject to unhygienic handling by staff at the manufacturing and packing level, poor storage conditions, unusual temperatures, and the use of preservative compounds.

SEGMENTATION

By Material Analysis

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Plastic is the Dominating Segment Due to the Significant Benefits Offered by the Material

The market is segmented into plastic, paper, and metal based on the material. The plastic segment accounted for the major share and is expected to continue its dominance during the forecast period due to its exceptional properties. The impermeability of plastic to moisture, fluids, water vapors, air, and other contaminants is driving the demand for plastic packaging. Oxidation and interference of other air components degrade the quality of seafood, which can lead to toxic substance formation. Additionally, thermo-sealability, transparency, flexibility, lightweight, mechanical properties, inexpensiveness, and convenience of handling shall contribute to the increasing demand for plastic packaging. The most protective, durable, and customizable type of fish container is flexible packaging. Developing processing techniques and polymer packaging formulations is expected to fuel market growth.

The glass segment is expected to expand rapidly due to its recyclability, chemically inert nature, aesthetic properties, and eco-friendly nature. Considering the eco-balance, glass is more advantageous than plastic and is anticipated to drive segment growth. Sustainability is one of the important aspects that affect the choice of packaging.

By Product Type Analysis

Shrink Films Hold the Largest Share Owing to their High Usage of Seafood Products

Based on the product type, the market is segmented into trays, bags & pouches, cans, boxes, and shrink films. Shrink films are the dominating segment of the global market. Shrink films are the primary covering used to wrap the seafood, which is further passed through a heat tunnel or oven to shrink and conform the content. Due to properties like stabilization of products, temper resistance, cushioning, and specific barrier and mechanical properties like film configuration, shrink films will witness significant growth during the forecast period. They effectively protect against environmental damage, dirt, and humidity.

The trays segment constituted an important market share attributed to convenient shelf life, handling, and lightness. Trays have an enclosable lid, making it convenient to store seafood for longer and effortlessly in the refrigerator. Additionally, they are available in various sizes and shapes, which makes them an attractive choice for manufacturers to store different types of fish.

By Packaging Technology Analysis

MAP is the Dominating Segment Due to its Potential Benefits to the Seafood Products

Based on the packaging technology, the market is segmented into MAP, vacuum skin packaging, and others. MAP dominates the packaging technology segment worldwide. Modified Atmosphere Packaging is a widely used technique used to pack seafood. It is used to manipulate the internal atmosphere of the package. It is generally carried out by lowering the amount of oxygen to avoid oxidation and replacing it with inert gases like nitrogen and sometimes carbon dioxide. Gas flushing and vacuum compensation stabilize the internal atmosphere, increasing the products' shelf life. The lower cost of the machines used for such packaging is expected to boost market growth.

The vacuum skin packaging technology offers various benefits, such as aerobic microorganism formation, decreased evaporation, dryness, and reduced fat oxidation. Moreover, the freezer burning of frozen products, increased shelf life, and reduced volume for bulk packs containing lighter materials also help the segment's growth.

By Application Analysis

Fresh & Frozen Dominates the Market Owing to the High Consumption among Consumers

Based on the application, the market is segmented into fresh & frozen, and processed. Fresh & frozen seafood accounted for the key market share due to the high demand for raw fish and other seafood worldwide. Due to the increasing awareness among consumers about the health benefits and nutrients of including seafood in their diet, the demand for fish, molluscs, and other types of seafood has increased significantly. Frozen seafood has a longer shelf life and can be transported to areas where fresh fish are unavailable. It is expected to increase the demand for the market.

Additionally, fresh sea produce creates ready-to-eat and processed fish products. It is expected to boost the demand for fresh and frozen seafood. However, processed products are the fastest growing segment, attributed to high demand for raw, canned, and preserved sea produces like tuna, salmon, crabs, lobsters, and other types of seafood.

By Seafood Type Analysis

Fish Segment to Emerge as Major Revenue Generating Segment Due to The Increasing Awareness About its Health Benefits

The market is segmented into fish, molluscs, crustaceans, and others based on the seafood type. Fish dominates the seafood type segment globally. Increasing demand for processes and raw fish from applications like food processing, hotels, restaurants, processed food manufacturing companies, animal feed, and others are boosting the growth of the fish segment. Additionally, the adoption of seafood in diet attributed to the nutritional value of fish is positively impacting the market growth. Molluscs are expected to expand rapidly due to the increasing demand for scallops, oysters, squids, octopuses, and clams. Crustaceans like shrimps, prawns, crabs, lobsters, and crayfish make exotic dishes. Shifting consumers' preferences towards seafood will likely boost market growth.

REGIONAL ANALYSIS

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The market is analyzed across North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

Asia Pacific holds the major share in terms of production as well as consumption of seafood. Factors including are the high seafood production from Japan, Korea, India, Malaysia, Sri Lanka, and other countries with large coastlines and demand from East & Southeast Asian countries. Fish is a staple food and is regularly consumed in the Asia Pacific. Fish farmers and producers must cover long distances in seas and oceans to obtain fresh and healthy products that can be preserved and canned for longer shelf life.

Additionally, the ample number of manufacturers in China, India, Japan, and South Korea will likely boost the regional market. The raw material used for manufacturing cartons, bags, boxes, and other packaging equipment is easily available in southern and eastern Asia. It is also expected to impact the market positively.

In North America, the demand is rising due to the high demand for canned seafood. There has been a substantial increase in demand for canned fish products attributed to various factors like increasing working women, rising disposable income, and others. Moreover, increasing consumer awareness about the health benefits of including fish in their diet is expected to fuel the demand for seafood packaging. Increasing food, health, and nutrition, spending drives the demand for canned seafood. Additionally, the encouragement by the Food and Drug Administration (FDA) to include fish like salmon, tuna, and other seafood in the diet due to the presence of vitamin D, omega-3 fatty acids, EPA, DHA, and other nutrients shall exhibit high demand for canned fish products which further shall aid the market.

Europe is one of the continents with a large coastline that eventually produces seafood on a large scale. Countries like Portugal and Iceland have the highest consumption of seafood per capita in the European region. Additionally, increased demand from the hospitality and hotel sector of populous countries like France, Italy, Spain, Poland, and the U.K. will drive the demand for packaged seafood.

Increased per capita seafood consumption in Brazil, Argentina, and the Caribbean region will aid market growth. High demand for different fish types and seafood to make Caribbean cuisine which mostly consists of fish, is expected to drive the demand for packaged seafood.

Middle East & Africa is expected to expand at a rapid pace. Despite this, the region is experiencing considerable demand for seafood and fish due to its nutritional aspects. The increase in demand for canned fish products due to the convenience in use and extended shelf life is surging the demand. The local brands that provide various types of canned products are also expected to drive the market. For instance, Woolworths is a South African company that offers an extensive range of canned fish and seafood

KEY INDUSTRY PLAYERS

Key Participants in the Market Witnessing Significant Growth Opportunities

The global market is highly fragmented and competitive. Regarding market share, the few major players dominate the market by offering innovative packaging in the packaging industry. These major players in the market are constantly focusing on expanding their customer base across the regions and innovation.

Major players in the market include Ball Corporation, Crown Holdings, Silgan Holdings, Ardagh Group, Amcor Limited, and others. Numerous other players operating in the industry are focused on delivering advanced packaging solutions.

List of Key Companies Profiled:

• Amcor plc (Australia)


• Crown Packaging (U.S.)


• Sealed Air (U.S.)


• WINPAK LTD. (Canada)


• Smurfit Kappa (Ireland)


• DS Smith (U.K.)


• Silgan Holdings Inc. (U.S.)


• SIRANE GROUP (U.K.)


• Printpack (U.S.)


• FFP Packaging Ltd. (U.K.)

KEY INDUSTRY DEVELOPMENTS:

• August 2022 - Iceland announced the partnership with Parkside to replace the LDPE bag for the company's product portfolio of frozen seafood with a recyclable paper pouch. The pouch features water-based coatings, which further break down during re-pulping.


• July 2022 - Sydney, an Australia-based Company, Grounded Packaging, declared the launch of an innovative, no-contact sustainable packaging solution. Re: Mono comprises 83% recycled materials and is proposed for packaging meat and seafood products.


• July 2020 - Amcor plc launched SkinNova, seafood packaging with 70% less plastic. SkinNova minimizes the use of plastics by over 70% relative to traditional MAP packaging and cuts the carbon footprint by 45%.


• July 2020 - Smurfit Kappa replaced EPS frozen food packaging with reusable substitute paper-based packaging. Smurfit Kappa has unveiled a creative and durable new kit that keeps fresh frozen and chilled foods across the supply chain. The Thermo Case, made from a 100% paper-based mixture of Hexacomb and corrugated, preserves frozen foods like fish at temperatures close to extended polystyrene (EPS) packets.


• February 2019 - ULMA Packaging is planning trials with any new packaging system to help the industry reduce packaging waste. Innovative packaging machines are designed to minimize packaging size and waste and comply with biodegradable and recyclable products.

REPORT COVERAGE

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The global market report provides detailed market analysis and focuses on key aspects such as key players, competitive landscape, product/service types, market segmentation, porters five forces analysis, and leading applications of the product. Besides, the report offers insights into the seafood packaging market trends and highlights key industry developments. In addition to the above factors, the report encompasses several factors that contributed to the market's growth in recent years.

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