A recent research report from Fact.MR, a leading provider of market research and competitive intelligence, predicts that the skin packaging market will reach a value of US$ 15.1 billion by the end of 2033, with a projected annual growth rate of 4% over the decade. Skin packaging solutions utilize technology to wrap products in a film or thin plastic sheet using heat, ensuring thorough product safety, protection, and visibility.
Skin packaging, a form of carded packaging, is crafted using advanced machinery. It involves enveloping a product in a thin film that is then vacuum-sealed onto a backing board. While akin to blister packaging, skin packaging serves distinct purposes. Typically employing paperboard and plastic, this packaging method finds widespread application in various food products, particularly meat and seafood.
There’s a rising demand for skin packaging materials across diverse sectors including hardware, consumer goods, and automotive parts. Notable attributes of these packaging solutions encompass prolonged product shelf life and visually appealing packaging. Moreover, their exceptional seal integrity, coupled with superior clarity and durability, is poised to create lucrative growth opportunities in the global market.
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On the flip side, fluctuations in the cost of raw materials and stringent regulations that are imposed by governments on applying plastic are expected to dampen market growth. Furthermore, rising environmental concerns and the availability of environment-friendly alternatives can hamper the growth opportunities in this market.
Key Takeaways from Market Study
- Sales of skin packaging solutions are projected to reach US$ 15.1 billion by 2033-end.
- The Japan market is likely to expand at a sluggish CAGR of 1.3% through 2033.
- Valuation of the global skin packaging industry is US$ 10.2 billion for 2023.
- The skin packaging market is expected to progress at a CAGR of 4% through 2033.
- Demand for skin packaging services in the Germany market is set to expand at a CAGR of 2.1% through 2033.
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Winning Strategy
Surging R&D activities and increasing demand for flexible packaging solutions and materials are likely to proliferate sales of skin packaging solutions. Moreover, growing technological advancements across packaging technology and equipment and the rising availability of different space-saving packaging options are further driving sales of effective packaging strategies.
Key Companies Profiled
- Amcor Ltd.
- Sealed Air Corporation
- WestRock Company
- Display Pack, Inc.
- Grief, Inc.
- Orora Ltd.
- Sigma Plastics Group
- International Paper Co.
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Market Segmentation
The study divulges essential insights into the market based on type (carded skin packaging, non-carded skin packaging), application (food, consumer goods, industrial goods, other applications), and base material (plastic films, paper & paperboards, other base materials), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).