Dublin, Sept. 20, 2022 (GLOBE NEWSWIRE) -- The "Artificial Casings Market by Type, Application, Distribution Channel, End User - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
In terms of value, the artificial casings market is expected to reach $5.14 billion by 2029, at a CAGR of 6.6% from 2022 to 2029. In terms of volume, the artificial casings market is expected to reach 51.93 billion meters by 2029, at a CAGR of 3.8% from 2022 to 2029.
The growth of this market is attributed to the increase in global meat consumption and production, the growing preference for artificial casings among sausage manufacturers, casings manufacturers' shift from natural casings to artificial casings due to operational challenges, and the rising number of foodservice chains.
Furthermore, the demand from developing countries in Southeast Asia, Latin America, and Africa and the emergence of vegetarian sausage casings are expected to create lucrative opportunities for players operating in this market. However, consumers' preference for natural sausage casings over artificial casings is expected to hinder the growth of this market to a notable extent.
Based on type, the artificial casings market is segmented into collagen casings, cellulose casings, plastic casings, fibrous casings, textile casings, net casings, and vegetarian casings.
In 2022, the collagen casings segment is expected to account for the largest share of the artificial casings market. The large market share of this segment is mainly attributed to its lower cost of production compared to gut casings and other artificial sausage casings due to higher production speeds and lower labor requirements. In addition, the beneficial properties of collagen casings, such as edible nature, standard diameter, uniformity, and strength, contribute to their demand. However, the vegetarian casings segment is slated to register the highest CAGR during the forecast period.
Based on application, the artificial casings market is segmented into animal-based sausages and plant-based sausages.
In 2022, the animal-based sausages segment is expected to account for the larger share of the artificial casings market. However, the plant-based sausages segment is slated to register the higher CAGR during the forecast period. The rapid growth of this segment is attributed to the consumer shift toward healthy, tasty, sustainable, and environment-friendly varieties of sausages.
Based on end user, the artificial casings market is segmented into food processing companies, food service providers, food retailers, and other end users.
In 2022, the food processing companies segment is estimated to account for the largest share of the artificial casings market. However, the food service providers segment is expected to register the highest CAGR during the forecast period. The growth of this segment is driven by factors such as the increased demand for fast food due to the busy lifestyles of the working population and the proliferation of food distribution channels.
Based on geography, the artificial casings market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
In 2022, North America is estimated to account for the largest share of the artificial casings market. North America's large market share is attributed to factors such as the well-established food & beverage industry, the wide availability of sausage & processed meat products, the high average meat consumption, and the high number of fast food restaurant chains and sausage manufacturers.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Insights
5. The Impact of COVID-19 on the Artificial Casings Market
6. Global Artificial Casings Market, by Type
7. Global Artificial Casings Market, by Application
8. Global Artificial Casings Market, by Distribution Channel
9. Global Artificial Casings Market, by End User
10. Artificial Casings Market, by Geography
11. Competitive Landscape
12. Company Profiles (Business Overview, Financial Overview, Products Portfolio, Strategic Developments)
13. Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/8t5ok4