Global Vacuum Packaging Market - 2022-2029
The global vacuum packaging market valued USD xx million in 2021 and is forecast to reach USD xx million by 2029, growing at a CAGR of xx% during the forecast period (2022-2029).
Vacuum Packaging is a technique of removing air from a pack before sealing. Its principal purpose is to remove oxygen by pulling the packaging material into intimate contact with the product. This packaging offers additional advantages, such as reducing the volume and improving the rigidity of flexible packages. The increasing awareness of good quality and hygienic packaging of food is one of the significant factors contributing to the growth of this market. A surge in need for the longer shelf life of products has also driven the demand for vacuum packaging.
Rising awareness about the food safety and quality of packaging boosts the vacuum packaging market
The food industry is the main consumer of this packaging method. The demand for vacuum packaging is impacted by the growing need for packaged products such as chicken, beef, seafood, and pork. As per the UN Food and Agriculture Organization (FAO), in 2018, the global annual meat production was around 340 million tonnes. Vacuum packaging is generally used to store dried foods over a long period, such as cereals, cured meats, nuts, cheese, smoked fish, coffee, and potato chips. The vacuum package of the product's shelf life is doubled compared to the standard package shelf-life products. Moreover, with the proper machines and materials, vacuum sealing can be efficient, enabling hundreds or thousands of products to be sealed per hour.
Moreover, vacuum packaging saves time and money and extends the product's shelf life, and it is used in hospitals, healthcare, or medical sectors. Vacuum packing medical items can destroy any bacteria in contact with the item and avoid introducing other bacteria before the package is opened. When packed and vacuum sealed by several methods, medical items may also be sterilized. This secures that they are fully sanitary and ready to use. Therefore, with the increasing growth of medical items, the demand for vacuum packaging is estimated to rise in the forecast period.
Polyethylene segment held the highest market revenue share of xx% in the year 2021
Based on material type, the polyethylene segment held the dominant share in the vacuum packaging market in 2021. Manufacturers prefer polyethylene over other packaging materials due to its lower cost. Soft and flexible films are also used in the vacuum packaging industry to package and store various items. Also, polyethylene provides the lowest softening point of the total packaging plastics, and the lower softening point results in lower costs for manufacturing. The major importance of the polyethylene package is its advantages are enhanced protection, highly adaptable, economically low cost, durability, and easily recyclable.
Based on packaging type, flexible packaging held the largest share in vacuum packaging market. Flexible packaging films are suitable for dry food packaging and liquid applications, providing an insulation layer that covers items when packed. Flexible laminate materials are used in several different markets, ranging from cleaning products, pet food, and frozen meals to dietary supplements and cosmetics. As per the Flexible Packaging Association, in 2019, the flexible packaging industry had $33.6 billion in sales in the United States.
Asia pacific is dominating the global vacuum packaging market in the year 2021
Asia Pacific is expected to gain significant market share in the global vacuum packaging market, owing to the mounting demand for packaged foods in emerging economies such as China and India and the increasing production of the medical and pharmaceuticals sector. Most of the studies find that the food packaging market in the Asia Pacific is poised to grow at a healthy pace in the upcoming years. Moreover, the Asia Pacific is the third-largest pharmaceutical industry, primarily driven by generic drugs. Similarly, North America will also offer profitable growth prospects to market players.
The vacuum packaging market is marked with the high competition due to the presence of various players. Some of the key players in the vacuum packaging market include Amcor Limited, Bemis Company, Inc., Berry Plastics Corporation, Sealed Air Corporation, Linpac Packaging Limited, and Multisorb Technologies among others. Companies in the market are involved in introducing new products, expanding their operations, or entering into strategic mergers and acquisitions to increase their market presence. For instance, in October 2019, MULTIVAC UK launched new B 625 chamber belt machine in the UK market. The new machine offers manufacturers a high performance, cost effective and user-friendly model for automated vacuum packaging of food products in film pouches. In December 2018, Ulma Packaging completed installation of its Flow-vac system, a vacuum packaging system developed by company, at cold storage facilities of La Anonima (chain of supermarkets based in Argentina) for meat packaging.
COVID-19 Impact: Positively impact on the global vacuum packaging market
The COVID-19 pandemic has significantly impacted the food industry and its supply chains. However, increasing home delivery consumption due to shelter-in-place orders amid the pandemic is driving consumers to shift from retail foodservice channels to e-commerce platforms. This sudden shift in consumers' patterns is emerging as a lifeline for vacuum packaging manufacturers. Consumers use a wide variety of food products in refrigerated and non-refrigerated spaces. It will prompt the demand for warehousing facilities, thus offering probable routes for growth.
Understand the current market scenario and viability of global vacuum packaging market over the forecast period
Visualize the composition of the global vacuum packaging market in terms of material type, packaging type, machinery, process, and application to identify major players, growth potential, and market strategies
Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
Excel data sheet with valuable data points of the global vacuum packaging market - Regional and Country level segmentation
Product mapping in excel for the key products of all major market players
Market share analysis covering business revenues ($) and revenue share (%) of key market players
The global vacuum packaging market report would provide an access to approximately 77 market data tables, 76 figures, and 180 pages
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