CLEVELAND, March 16, 2020 /PRNewswire/ — According to the new edition of Meat, Poultry & Seafood Packaging, demand for poultry packaging is forecast to increase 3.4% per year from $4.2 billion in 2019 to $4.9 billion in 2024. Major factors driving sales gains include:
- increased per capita consumption of poultry products in the US, due in large part to poultry’s lower cost and more favorable nutritional profile (in terms of fat and cholesterol levels) compared to beef
- rising demand for US-produced poultry in export markets
- continued use of higher value packaging – such as with improved graphics and higher barrier properties – for case-ready and other poultry products
More information regarding the study is here: https://www.freedoniagroup.com/industry-study/meat-poultry-seafood-packaging-3787.htm
Chicken will continue to account for 80% of poultry packaging demand through 2024, as chicken remains the poultry product of choice for US households due to its low cost, easy preparation, and taste profile.
Packaging for turkey and other poultry products – including goose and duck – is also expected to post healthy sales gains, supported by the popularity of niche alternatives to meat for sausage and burger products. Chicken products are less likely than turkey to serve as direct replacements to hot dogs, bacon, and hamburgers because chicken has a stronger primary flavor that is more difficult to disguise.
Among the markets for poultry packaging, the fresh and frozen and processed segments will continue to dominate demand. Packaging sales for fresh and frozen items will be supported by greater use of value-added packaging that can extend the shelf life of packaged products.
The ready-to-eat market will grow at a healthy rate, supported by growing consumer preference for convenient prepared foods, which in turn will stimulate gains for related packaging such as plastic containers, trays, film, paper bags, and pouches.
Contact Corinne Gangloff for an interview with the analyst.
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