Fibrous Casings Market
Fibrous Casings Market By Product Type (Clear casings, Mahogany casings, Red casings, Specialty casings), By Calibre Size (Small Calibre, Medium Calibre, High Calibre), ByApplication, By Sales Channel, By Region - Global Market Insights 2019 to 2029
Functional Properties of Fibrous Casings to Increase Adoption, with Rapid Uptake in Europe and North America
The casings market has witnessed a seismic shift from natural casings to artificial casings. This trend is expected to continue during the forecast period. Fibrous casings are artificial casings that have garnered significant traction, owing to their differentiated properties like high mold resistance and longer shelf life.
Demand for fibrous casings has seen a substantial rise in established markets like Europe and North America, and is expected to facilitate growth of fibrous casings market. The fibrous casings market is expected to be on a steady course in comparison with other artificial casings and is projected to grow at CAGR of ~ 4.3% during the forecast period.
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Clear Casings to Emerge as Lucrative Pocket in Fibrous Casings Market
Consumer preference for meat product variants such as salami, pepperoni, and sausages has facilitated the growth of processed meat industry. High demand for sausage meat has increased preference for clear fibrous casings, which is integral to mould meat in sausages.
Manufacturers working on product quality and functionality are expected to garner significant demand from processed meat industry. Clear fibrous casings are expected to grow 1.6X by 2029 over its value in 2019 and present an absolute opportunity of around US$ 50 Mn during forecast period.
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East Asia Poised to Grow 1.9X in Fibrous Casings Market
East Asia fibrous casings market is projected to grow by 1.9X through 2029 from 2019.Its prolific growth can be attributed to China which has exceeded other countries in terms of meat production and consumption.
While China currently ranks low in terms of per capita consumption of fibrous casings, adoption is expected to increase with growth of processed meat industry. The new Foreign Investment Policies in China effective from 1st January, 2020 are expected to supplement the growth of processed meat industry, which in turn will give impetus to the fibrous casings market in China.
Establishment of Long-term Supply Agreements will be under Manufacturers’ Spotlight
With limited scope of development for companies through lateral integrations, gaining a foothold in fibrous casings market is highly dependent on establishing a strong presence in emerging regions such as China, Mexico and India.
Establishing new contracts and increasing collaborations with domestic processed meat manufacturers as well as domestic distributors of sausage casings is expected to create steady demand for fibrous casings. Exploring untapped markets will in turn increase revenue share of manufacturers.
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Innovative Fibrous Casings to Substantially Increase Adoption
Fibrous casings market is highly consolidated with only 5 manufacturers controlling the market. The room for lateral integrations in the market are extremely low and product differentiation remains only strategy for maintaining share in fibrous casings market. Innovations in fibrous casings market have been concentrated on increasing the functionality of the products.
Viskase Companies, Inc. and ViskoTeepak are some fibrous casings manufacturers, which have focused on increasing the barrier strength with the addition of viscose layers to their products. These fibrous casings have witnessed increased demand from food manufacturers as well as meat processing industry players. Other players in the fibrous casings market are expected to increase investments in product development with the addition of naturally sourced materials.
- In 2019, ViskoTeepak showcased their products at IFFA 2019. IFFA is one of the international trade fairs for the meat industry.
- In 2018, Viscofan acquired Globus Group, Australia and New Zealand based distributors, to increase their presence in Oceania region.
- In 2017, Viskase Companies, Inc. acquired Walsroder Casings Group. This acquisition was aimed to augment portfolio of Viskase and increase the presence in European nations
Global Fibrous Casings Market: Segmentation
Segmentation table of the global fibrous casings market has been provided below on the basis of Product Type, Calibre Size, Application, Sales Channel, and Region.
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