According to Fact.MR, a market research and competitive intelligence firm, grain dryer sales are expected to increase considerably in 2021 and beyond. The necessity to eliminate moisture from grains to enhance shelf life is principally driving adoption. As the COVID-19 pandemic’s intensity recedes in some regions, sales are expected to gather pace across the short-term forecast period. In add...
Fibrous Casings – Unraveling Market’s Growth Story
As processed meat market takes an upward curve, market for fibrous casings also takes a high trajectory, especially between the period 2019 and 2029. Charting a CAGR (Compound Annual Growth Rate) of 4.3%. The reason for this outcomes is also the need to provide superior protection to meats, providing them with a better shelf life and stronger casing.
Players to Focus on Technology, Product Differentiation
So far, the global fibrous casings market has remained quite consolidated, owing to top 5 players holding majority share. The trend will continue into the forecast period. And, to ensure the largest slice from the growth pie is carved off, players would have a sharp eye on entering supply agreements with meat manufacturers and casing distributors. This will be a critical move for players to make sure that a strong regional presence is established. And, this will be particularly important for regions such as Mexico, China, and India.
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Some of the prominent players that operate in the global fibrous casing market are Viskase Companies, Inc., Viscofan, Walsroder Casings Group and ViskoTeepak. These have stayed quite active over the past few years. And, those have proved to be major and notable developments that the market has witnessed.
For instance, in 2017, Walsroder Casings Groups was acquired by Viskase Companies, and in 2018, Globus group was acquired by Viscofan. It is worth noting here that both moves are in accordance with the projected strategies outlined above. While the former was rightly aimed at improving portfolio, and thus improving hold over the market share, the latter improves presence of Viscofan in Oceania.
It is also worth noting here that ViscoTeepak, in 2019, presented their offerings at the international trade fair called IFFA.
However, it is worth pointing out here that product differentiation is also a critical factor that determines the market standing of players, and it is particularly significant considering that lateral integration is a narrow game, with little scope for tactical maneuvering. Thus, a great deal of efforts is directed towards creating the right kind of product. That means research and technology form core components of success.
It is worth noting here that innovative products are in huge demand in the food and beverages industry. And, here again, the meat processing players hold a place of prominence. Players like ViskoTeepak and Viskase are majorly involved in improving the strength of their casings to ensure better protection against harming factors such as moisture.
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East Asia to Steal the Show over the Forecast Period
Set to grow by a factor of 1.9, the East Asian region will chart a prolific graph over the period 2019 to 2029. And, here it is important to note that China will play a crucial role in the growth story of the region, owing to a massive increase in both consumption and production in the country. However, it is worth noting here that as country, China’s consumption of fibrous casings is low, But, this is being addressed by a rapidly growing processed meat industry. In fact, on January, 01st, 2020, the new investment policy in China were implemented, which is good news for the processed meat industry every step of the way. And, as can be gathered from this move, and the expected outcomes, the global fibrous casings market is set to grow at a notable rate.
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