Modified Atmosphere Packaging Market
The global modified atmosphere packaging market size was valued at USD 18.52 billion in 2023. The market is projected to be worth USD 19.76 billion in 2024 and reach USD 34.63 billion by 2032, exhibiting a CAGR of 7.27% during the forecast period. Modified atmosphere packaging replaces the air around a product with a specific gas or gas mixture, crucial for preserving freshness until it reaches the end user. The surge in demand for fresh and quality packaged food is a key factor driving the modified atmosphere packaging market growth. Consumers are increasingly seeking convenient packaging solutions that can maintain the freshness of perishable products, thus driving the demand for these products.
Fortune Business Insights™ provides this information in its research report, titled “Modified Atmosphere Packaging Market, 2024-2032”.
List of Key Players Mentioned in the Report:
- Klöckner Pentaplast
- Filtration Group.
- Linde plc
- Berry Global Inc.
- Barry-Wehmiller Companies
- Mocon Denmark Holding ApS
- Air Products and Chemicals, Inc
- Amcor Limited
- Bemis Company Inc.
- COVERIS
- CVP® Systems LLC.
- Ilapak, ORICS
- Praxair Technology Inc.
- Reiser, Sealed Air
- Total Packaging Solutions, LLC
- WINPAK Ltd.
- Ardagh Group
Segmentation:
On the basis of packaging gas, the market is divided into nitrogen, carbon dioxide, and oxygen. Carbon dioxide stands out as the dominant segment, renowned for its effectiveness in extending the shelf life of perishable food by inhibiting oxidation and preventing the growth of bacteria and molds.
By packaging material, the market for modified atmosphere packaging is fragmented into polyethylene, polypropylene, ethylene vinyl alcohol, polyvinylchloride, and others. The ethylene vinyl alcohol segment dominates the market. Its dominance is attributed to excellent gas barrier properties, effective preservation of taste and aroma, and resistance to oils, making it a preferred choice.
In terms of end-use industry, the market is divided into bakery & confectionery, dairy products, seafood & meat products, fruits & vegetables, and others. The bakery and confectionery emerge as the largest end-use segment. The significant demand for bakery products, particularly those reliant on bread, drives the need for packaging solutions rich in carbon dioxide to enhance and prolong shelf life.
In terms of geography, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report provides an in-depth analysis of the key trends boosting the global business scenario. It further delves into the prominent factors driving the growth of the market over the upcoming years.
Drivers and Restraints:
Preference for Easy-to-Handle and Convenient Packaging to Boost Industry Growth
The increasing preference for easy-to-handle and convenient packaging is a significant driver for the global market. Another factor that is promoting the growth of the industry is the growing awareness among consumers toward hygienic food packaging. Moreover, the rise in mergers and acquisitions within the industry is contributing to the market growth. Manufacturers are engaging in strategic partnerships to meet new demands and launch innovative products, thereby positively influencing the market.
Source: https://www.fortunebusinessinsights.com/modified-atmosphere-packaging-market-107311
Regional Insights:
Europe Dominates the Market Due to High Production and Export of Beef & Pork
The European market holds the key modified atmosphere packaging market share in the market. Europe's dominance in the market is underpinned by its substantial production and export of beef and pork.
Asia Pacific is poised for swift growth in the modified atmosphere packaging market, driven by rapid urbanization and rising disposable incomes in the region.
Competitive Landscape:
Prominent Companies Adopt Strategies to Expand their Product Portfolio
Key players emphasize adopting various strategic initiatives for expanding the reach of their products and increasing their geographical footprints. Several firms are showing greater interest in R&D activities for consolidating their positions.
Key Industry Development:
September 2021–Berry M&H launched the Mira 475ml bottle, addressing growing consumer demands for convenient and sustainable packaging. Made from recyclable polypropylene (PP) and equipped with an EVOH barrier layer, the bottle provided effective protection for oxygen-sensitive products, minimized food waste, and extended shelf life.
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