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Meat Packaging Trends and Forecast

The future of the global meat packaging market looks promising with opportunities in the beef, pork, poultry, and seafood markets. The global meat packaging market is expected to reach an estimated $9.5 billion by 2030 with a CAGR of 4.8% from 2024 to 2030. The major drivers for this market are rising consumption of protein-rich products, increasing emphasis on adopting sustainable packaging solutions, and growing demand for packaged food product.
• Lucintel forecasts that,within the material category, polyethylene is expected to witness the highest growth over the forecast period as it provides excellent transparency, gloss, and barrier from moisture.
• Within the meat type category, poultry will remain the largest segment due to increasing global consumption of chicken, eggs, and other poultry items.
• In terms of regions, North America will remain the largest region over the forecast period due to rising consumption of meat products and presence of leading packaging giants in the region.

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Meat Packaging Trends and Forecast

Meat Packaging by Segment

Emerging Trends in the Meat Packaging Market

The meat packaging market is undergoing changes that reflect the following: technology, sustainability, and consumer demands. These are the factors behind new packaging options and innovations in this industry. This article will cover five trends that have emerged to shape the meat packaging market.
• Sustainable Packaging Materials: The use of environmentally friendly packing materials is one of the key practices in the meat packaging industry. To address environmental concerns and regulatory requirements, companies are gradually adopting biodegradable, compostable, and recyclable materials. For instance, plant-based films and recycled paper-based packaging innovations are becoming more popular in the market for meat products. The trend is attributable to increased demand for eco-friendly merchandise from customers who want to minimize plastic waste or damage to nature around them. Sustainable packaging practices assist companies in minimizing their environmental impact while also appealing to environmentally conscious consumers.
• Smart Packaging Technologies: Smart packaging technologies have revolutionized meat packaging by offering more value-added functionalities and influencing consumer preferences towards such products. Some examples of these include QR codes on packages, along with RFID tags or sensors that provide real-time information about freshness, traceability, and quality of perishables. Furthermore, smart technologies for inventory control reduce food wastage since they help track stock movement throughout supply chain operations, including distribution centers, while ensuring products do not expire before they can be sold by supermarkets. Notably, the integration of digital tools into packages alters consumer interaction with meat products, thus transforming supply chain management within firms.
• Modified Atmosphere Packaging (MAP): Modified atmosphere packaging has become popular among stakeholders in the meat packaging industry due to its ability to preserve product quality and prolong shelf life. What MAP does is alter the composition of atmospheres inside packages, thus retarding the spoilage process of meat products. Hence, this technology helps in reducing spoilage and wastage of food while ensuring high-quality products reach customers. Longer shelf life and better preservation methods are key drivers for increasing adoption of MAP as a standard procedure in the industry, aimed at enhancing product safety and quality.
• Active and Intelligent Packaging: Active packaging involves substances that affect food or its environment to extend shelf life or enhance quality, while intelligent packaging monitors product conditions. The adoption of active and intelligent packaging technologies has been driven by recent developments in material sciences coupled with heightened consumer expectations for safe, high-quality merchandise. These innovations help ensure that fresh and safe meat products are consumed.
• Consumer-Driven Customization: The practice of customization within the meat packaging market, where firms offer personalized package solutions, aims to boost their brands’ identities, thus promoting consumer engagement. It entails customized designs, promotional messages, and interactive elements on packages, among others. This trend reflects the need for individuality among buyers who prefer unique experiences over generalization. Branding through custom-made packages allows consumers to differentiate themselves from one another, enabling companies to remain connected to their respective markets. The use of customization will enable enterprises to improve their presence in the market as well as meet changing tastes and preferences.
In conclusion, these trends are driving innovation, sustainability, and consumer involvement in the meat packaging sector. In essence, any organization that embraces them can outsmart its competitors while complying with legal provisions in relation to shifting consumer expectations. Thus, these trends will continue to influence the future of meat packaging in the market.

Emerging Trends in the Meat Packaging Market

Recent Developments in the Meat Packaging Market

Advances in technology, sustainability, and consumer demands are reflected in recent developments within the meat packaging market. Companies are using innovations to address challenges and capitalize on emerging opportunities. Below are five highlighted trends affecting this industry.
• Use of Biodegradable Materials: The adoption of biodegradable materials constitutes one of the remarkable advancements in the meat packaging market. As a strategy for minimizing environmental pollution, businesses have increasingly resorted to using plant-based films or bioplastics instead of conventional plastics. This shift has been necessitated by consumers’ preferences for eco-friendly merchandise and more stringent regulations regarding ecological conservation. The use of biodegradable materials helps reduce waste going to landfills, thereby supporting the sustainable development agenda that many countries have adopted. Additionally, it has led to new investments in other novel materials by various companies as part of market dynamics.
• Modified Atmosphere Packaging (MAP) Improving Shelf Life: Modified atmosphere packaging has seen significant growth because it effectively prolongs the shelf life of meat products. MAP entails altering the gas composition inside packaging to hinder spoilage rates while maintaining freshness at optimum levels throughout the storage period before consumption. The drive behind this practice is the need for better quality products with less waste being disposed of in landfills. This trend is affecting all meat preservation methods employed within this sector’s supply chain.
• Smart Package Integration: In the current landscape, a notable advancement can be associated with smart package integration within the meat packaging industry. This encompasses QR codes, RFID tags, and other built-in devices that provide information about freshness and traceability. Such smart packaging is used to improve customer engagement and make supply chains transparent, giving companies the opportunity to generate additional value or reduce inventory levels. This highlights how far technology has advanced in packaging and its significant impact on the market.
• Sustainability-Conscious Supply Chains: There is a growing concern over sustainability-conscious supply chains within the meat packaging industry. Firms are working towards reducing their carbon footprints by optimizing production processes, minimizing waste, and improving efficiency in resource allocation. This has been influenced by sustainability requirements enacted by law and changing consumer preferences towards eco-friendly products. Such efforts help position companies well within the market while having a positive impact on environmental conservation at large. To this end, the industry’s structure is being transformed, influencing packaging and supply chain management approaches adopted by different businesses.
• High Barrier Films Emerging: The introduction of high-barrier films is one of the most significant developments witnessed in the meat packaging industry so far. These films prevent moisture, oxygen, or light from affecting the product, thereby ensuring that meat quality remains intact for longer periods. High barrier films have become more popular among vacuum-sealed and MAP solutions that assist in maintaining product integrity. They represent technological improvements aimed at addressing packaging issues. This adoption paves the way for better product safety and quality through improved packaging practices.
These recent developments are driving significant changes in the meat packaging market due to technological advancements, the need for sustainable packing options, and the evolution of consumer needs. Companies can utilize these trends to improve their packaging solutions, increase product quality, and adapt to constantly changing markets.

Strategic Growth Opportunities for Meat Packaging Market

There are many strategic growth opportunities within different applications of the meat packaging market. Enhancing packaging solutions through developments in technology, sustainability, and consumer trends will enable firms to gain substantial market shares. Below are five key growth opportunities by application in the meat packaging market.
• Sustainable Packaging Solutions: Creating and providing sustainable packing solutions is an important growth opportunity in the meat packaging industry. This could involve companies using materials like biodegradable materials that can be composted or recycled to meet customersÄX%$%X needs for ecologically friendly products while conforming to environmental laws. This trend towards sustainability fits into the bigger picture and helps differentiate businesses from other players within this industry. Through an emphasis on green packaging and sustainable practices, companies can build brand equity, reduce harm to the environment, and attract environmentally conscious clients.
• Smart Packaging Integration: Integrating smart packaging technologies offers significant room for growth. By incorporating features such as QR codes, RFID tags, and sensors, companies can offer real-time data on product freshness, traceability, and quality. Smart packaging enhances consumer engagement and supply chain transparency, offering added value and improving inventory management. This opportunity allows companies to stay ahead of technological trends and meet the growing demand for interactive and informative packaging solutions.
• Advanced Barrier Technologies: Advanced barrier technologies present major growth potential in the meat packaging sector. The use of high-barrier films and coatings is part of such innovations that enhance preservation of meats by providing better protection against moisture, air, and light. These technologies help extend shelf life while ensuring quality and addressing consumer desires for fresh, safe meat products. Companies can adopt these advanced barrier technologies to enhance their packaging solutions and gain a competitive edge in the market.
• Customization and Branding: Growth opportunities in meat packaging lie in customization. Companies may choose to provide personalized designs, logos, or promotional messages to improve brand identity and engage customers. This marketing strategy helps brands stand out from the crowd by providing customized packages. Additionally, it positions itself as a better option for marketing campaigns and product launches, as companies can establish more meaningful bonds with their target buyers compared to competitors offering similar products.
• Emerging Markets Expansion: The growth prospects of meat packaging lie in expanding into emerging markets. A rise in disposable incomes and urbanization has caused increased demand for packaged meats across the Asia Pacific and Latin America. Catering to individual tastes is crucial when operating in such expanding markets. Companies planning to invest in these new markets should consider localized approaches toward customized packaging solutions that meet local tastes while conforming to regulations related to food packaging. This strategy can help companies grow their business by establishing new revenue streams in emerging markets.
These strategic growth opportunities are reshaping the meat packaging market by driving innovation, enhancing sustainability, and improving consumer engagement. By seizing any of these opportunities, firms will be able to increase their market shares within this industry and adapt to ever-changing customer needs while navigating effectively through regulatory environments.

Meat Packaging Market Driver and Challenges

There are several technological, economic, and regulatory drivers and challenges that shape the meat packaging market. These factors affect market dynamics, growth prospects, and competitive strategies. The following is an outline of the main drivers and challenges impacting the meat packaging market.

The factors responsible for driving the meat packaging market include:
• Technological Progress: Technological innovation is one of the key elements behind meat packaging market growth. Innovations such as modified atmosphere packaging, smart packaging technologies, and advanced barrier films have led to improved preservation, safety, and customer engagement in the meat industry. These advancements help prolong shelf life and decrease food waste, thereby improving product quality and value addition. New technologies can be utilized by corporations to distinguish themselves from the competition and meet changing customer expectations, thus driving market expansion.
• Rise in Demand for Eco-friendly Packaging: The need for eco-friendly packaging has been central in reshaping the meat industry’s demand patterns, thus influencing changes in the meat packaging market. Society and consumers are increasingly demanding reduced plastic usage while emphasizing more environmentally friendly alternatives. In response to this trend, companies have started using biodegradable, compostable, or recyclable materials for packaging their products. Not only does this support compliance with relevant statutes, but it also enhances brand image, appealing to those who care about such issues. Sustainability is a significant driver of change within markets undergoing innovation today.
• Increasing Global Meat Consumption: The rising global consumption of meat has greatly contributed to the significant growth of the meat packaging market. As urbanization increases and disposable incomes rise, consumer spending on meat products also increases, resulting in higher demand for packaging solutions. This trend particularly characterizes emerging markets, where rapid growth in meat consumption is being witnessed. Packaging solutions that guarantee product freshness and safety are thus essential given the increased demand for meat products.
• Government Support for Food Safety: Regulatory support for food safety contributes to the development of the meat packaging market. Regulations have become more stringent as governments seek to ensure that meat products meet certain standards of quality and safety. Advanced packaging technologies must be adopted by firms to comply with these rules and maintain food safety standards. Regulatory backing encourages innovation in packaging solutions, ensuring the safe packaging and transportation of meat products.
• Convenience-Driven Consumer Preference: The meat packaging market has been affected by this trend driven by consumer preference. Convenient-to-use packaging that ensures improved freshness and long shelf life are among the characteristics that consumers want to see in a packaging solution. This has resulted in innovations such as vacuum-sealed packages and MAP technologies. Thus, companies that cater to customer desires for convenient packing can improve their market position and ultimately increase sales.

Challenges in the meat packaging market include:
• High Costs of Advanced Packaging Technologies: The meat packaging market faces challenges due to high costs associated with advanced packaging technologies. The cost implications of developing smart packaging or advanced barrier films can be significant. These expenses could affect profit margins, constituting barriers for small firms or those with limited budgets. Addressing these cost challenges requires strategic investment and cost-effective approaches to maintain competitiveness in the marketplace.
• Complexity of Regulatory Compliance: One of the most daunting tasks faced in meat packaging is the need to navigate complex regulatory requirements. The rules differ from one region to another and encompass strict standards on food safety, environmental conservation, and packaging materials. To comply with these requirements, a company must continually invest in research, testing, and certification processes. A complicated regulatory environment could act as a barrier to entry into new markets or restrict growth for companies operating across several jurisdictions.
• Consumer Resistance to New Packaging Solutions: Resistance by consumers can also affect the adoption of novel packaging solutions. Some consumers may have reservations about how new packaging will perform, its safety, or even its cost implications. Overcoming this resistance requires effective communication regarding the advantages of using new packages. These considerations are key when introducing new technologies that should be successfully addressed.
The main drivers and challenges affecting meat packaging reflect an interplay between technological progress, consumer preferences, and regulatory demands. Technological advances are among the drivers, along with regulation and individual preferences.

List of Meat Packaging Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies meat packaging companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the meat packaging companies profiled in this report include-
• Amcor
• Berry Global
• Winpak
• Sealed Air
• Mondi
• Amerplast
• Faerch
• Bollore
• Constantia Flexibles
• Sonoco Products Company

Meat Packaging by Segment

The study includes a forecast for the global meat packaging by material, product type, meat type, packaging technology, and region.

Meat Packaging Market by Material [Analysis by Value from 2018 to 2030]:


• Polyethylene
• Polypropylene
• Polyvinyl Chloride
• Ethylene Vinyl Alcohol
• Polyamide
• Others

Meat Packaging Market by Product Type [Analysis by Value from 2018 to 2030]:


• Fresh Meat
• Processed Meat
• Frozen Meat

Meat Packaging Market by Meat Type [Analysis by Value from 2018 to 2030]:


• Beef
• Pork
• Poultry
• Seafood
• Others

• Modified Atmosphere
• Vacuum Skin
• Vacuum Thermoformed
• Others

Meat Packaging Market by Region [Shipment Analysis by Value from 2018 to 2030]:


• North America
• Europe
• Asia Pacific
• The Rest of the World

Country Wise Outlook for the Meat Packaging Market

The market for meat packaging has been significantly transformed by technological advancements, growing consumer demand for sustainable practices, and shifting regulatory requirements. Innovations in materials and processes are helping improve the preservation, safety, and convenience of meat while addressing environmental concerns. Regional developments illustrate diverse market dynamics influenced by local regulations, consumer preferences, and technological capabilities. Below is a summary of recent trends in the meat packaging market within the USA, China, Germany, India, and Japan.
• United States: The US meat packaging market is moving towards sustainable and smart packing. To meet increasing environmental concerns and regulatory requirements, many companies are opting for biodegradable materials that can be recycled. This has led to the rise of modified atmosphere packaging and intelligent packaging technologies, which improve meat preservation and safety. Supply chain efficiency has also been prioritized through improved traceability and increased transparency. Consumer demands for convenience and freshness drive progress, leading to sophisticated package development.
• China: The meat packaging industry in China is rapidly changing due to increasing meat consumption patterns and new regulations governing operations. The industry witnesses the application of advanced materials, including vacuum-sealed packaging with reduced oxygen levels (modified atmospheric packaging), that prolong shelf life while maintaining meat quality. Furthermore, the use of plastic is being curtailed with more recyclable materials being incorporated into this packaging category following environmental legislation. The sector is becoming increasingly competitive, with domestic players using technology to enhance their packaging performance to compete with international standards.
• Germany: Germany’s strict environmental laws and high consumer consciousness have propelled it into one of the leading countries for eco-friendly meat packaging innovations. The market is adopting environmentally friendly materials like compostable films made from paper or other natural products, thus reducing the environmental impact. Technological advancements, such as active and intelligent packaging systems, are also being integrated into meat storage facilities. Germany’s focus on sustainability and regulatory compliance is shaping the market and influencing both local and European trends.
• India: The meat packaging industry in India is growing due to increasing meat consumption and urbanization. However, the market suffers from infrastructural and cost challenges. A shift towards advanced packaging solutions, including vacuum and MAP technologies to enhance shelf life and reduce spoilage, has emerged recently. Companies are also exploring sustainable packaging options to address environmental concerns. Despite these advancements, the Indian market calls for more investment in packaging technology and infrastructure.
• Japan: Japan’s meat packaging market is characterized by technological innovation and a focus on quality and convenience. Enhanced preservation of meat products for safety is driving Japanese firms to resort to high barrier films, especially vacuum-sealed packaging. These companies are increasingly committed to using environmentally friendly materials. Owing to consumer demand for fresh, high-quality foodstuffs and pressure from regulations to be more sustainable, there has been an integration of cutting-edge packaging technologies into the market.
Lucintel Analytics Dashboard

Features of the Global Meat Packaging Market

Market Size Estimates: Meat packaging market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Meat packaging market size by various segments, such as by material, product type, meat type, packaging technology, and region in terms of value ($B).
Regional Analysis: Meat packaging market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different materials, product types, meat types, packaging technologies, and regions for the meat packaging market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the meat packaging market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

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FAQ

Q1. What is the meat packaging market size?
Answer: The global meat packaging market is expected to reach an estimated $9.5 billion by 2030.
Q2. What is the growth forecast for meat packaging market?
Answer: The global meat packaging market is expected to grow with a CAGR of 4.8% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the meat packaging market?
Answer: The major drivers for this market are rising consumption of protein-rich products, increasing emphasis on adopting sustainable packaging solutions and growing demand for packaged food product.
Q4. What are the major segments for meat packaging market?
Answer: The future of the meat packaging market looks promising with opportunities in the beef, pork, poultry, and seafood markets.
Q5. Who are the key meat packaging market companies?
Answer: Some of the key meat packaging companies are as follows:
• Amcor
• Berry Global
• Winpak
• Sealed Air
• Mondi
• Amerplast
• Faerch
• Bollore
• Constantia Flexibles
• Sonoco Products Company
Q6. Which meat packaging market segment will be the largest in future?
Answer: Lucintel forecasts that polyethylene is expected to witness the highest growth over the forecast period as it provides excellent transparency, gloss, and barrier from moisture.
Q7. In meat packaging market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to rising consumption of meat products and presence of leading packaging giants in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the meat packaging market by material (polyethylene, polypropylene, polyvinyl chloride, ethylene vinyl alcohol, polyamide, and others), product type (fresh meat, processed meat, and frozen meat), meat type (beef, pork, poultry, seafood, and others), packaging technology (modified atmosphere, vacuum skin, vacuum thermoformed, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Meat Packaging Market, Meat Packaging Market Size, Meat Packaging Market Growth, Meat Packaging Market Analysis, Meat Packaging Market Report, Meat Packaging Market Share, Meat Packaging Market Trends, Meat Packaging Market Forecast, Meat Packaging Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.

                                                            Table of Contents

            1. Executive Summary

            2. Global Meat Packaging Market : Market Dynamics
                        2.1: Introduction, Background, and Classifications
                        2.2: Supply Chain
                        2.3: Industry Drivers and Challenges

            3. Market Trends and Forecast Analysis from 2018 to 2030
                        3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
                        3.2. Global Meat Packaging Market Trends (2018-2023) and Forecast (2024-2030)
                        3.3: Global Meat Packaging Market by Material
                                    3.3.1: Polyethylene
                                    3.3.2: Polypropylene
                                    3.3.3: Polyvinyl Chloride
                                    3.3.4: Ethylene Vinyl Alcohol
                                    3.3.5: Polyamide
                                    3.3.6: Others
                        3.4: Global Meat Packaging Market by Product Type
                                    3.4.1: Fresh Meat
                                    3.4.2: Processed Meat
                                    3.4.3: Frozen Meat
                        3.5: Global Meat Packaging Market by Meat Type
                                    3.5.1: Beef
                                    3.5.2: Pork
                                    3.5.3: Poultry
                                    3.5.4: Seafood
                                    3.5.5: Others
                                    3.6: Global Meat Packaging Market by Packaging Technology
                                    3.6.1: Modified Atmosphere
                                    3.6.2: Vacuum Skin
                                    3.6.3: Vacuum Thermoformed
                                    3.6.4: Others

            4. Market Trends and Forecast Analysis by Region from 2018 to 2030
                        4.1: Global Meat Packaging Market by Region
                        4.2: North American Meat Packaging Market
                                    4.2.1: North American Market by Material: Polyethylene, Polypropylene, Polyvinyl Chloride, Ethylene Vinyl Alcohol, Polyamide, and Others
                                    4.2.2: North American Market by Meat Type: Beef, Pork, Poultry, Seafood, and Others
                        4.3: European Meat Packaging Market
                                    4.3.1: European Market by Material: Polyethylene, Polypropylene, Polyvinyl Chloride, Ethylene Vinyl Alcohol, Polyamide, and Others
                                    4.3.2: European Market by Meat Type: Beef, Pork, Poultry, Seafood, and Others
                        4.4: APAC Meat Packaging Market
                                    4.4.1: APAC Market by Material: Polyethylene, Polypropylene, Polyvinyl Chloride, Ethylene Vinyl Alcohol, Polyamide, and Others
                                    4.4.2: APAC Market by Meat Type: Beef, Pork, Poultry, Seafood, and Others
                        4.5: ROW Meat Packaging Market
                                    4.5.1: ROW Market by Material: Polyethylene, Polypropylene, Polyvinyl Chloride, Ethylene Vinyl Alcohol, Polyamide, and Others
                                    4.5.2: ROW Market by Meat Type: Beef, Pork, Poultry, Seafood, and Others

            5. Competitor Analysis
                        5.1: Product Portfolio Analysis
                        5.2: Operational Integration
                        5.3: Porter’s Five Forces Analysis

            6. Growth Opportunities and Strategic Analysis
                        6.1: Growth Opportunity Analysis
                                    6.1.1: Growth Opportunities for the Global Meat Packaging Market by Material
                                    6.1.2: Growth Opportunities for the Global Meat Packaging Market by Product Type
                                    6.1.3: Growth Opportunities for the Global Meat Packaging Market by Meat Type
                                    6.1.4: Growth Opportunities for the Global Meat Packaging Market by Packaging Technology
                                    6.1.5: Growth Opportunities for the Global Meat Packaging Market by Region
                        6.2: Emerging Trends in the Global Meat Packaging Market
                        6.3: Strategic Analysis
                                    6.3.1: New Product Development
                                    6.3.2: Capacity Expansion of the Global Meat Packaging Market
                                    6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Meat Packaging Market
                                    6.3.4: Certification and Licensing

            7. Company Profiles of Leading Players
                        7.1: Amcor
                        7.2: Berry Global
                        7.3: Winpak
                        7.4: Sealed Air
                        7.5: Mondi
                        7.6: Amerplast
                        7.7: Faerch
                        7.8: Bollore
                        7.9: Constantia Flexibles
                        7.10: Sonoco Products Company
.

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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process. 
 

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