Global Vacuum Packaging Market valued at US $31.2 Billion in 2022 is anticipated to reach a value of US $42.70 Billion in 2030, growing at a CAGR of 4%.
Vacuum Packaging– Overview
Vacuum packing is a packaging technique that involves taking the air out of the item before it is sealed. This process entails packing the contents in a plastic film packaging (manually or automatically), releasing the air inside, and then sealing the box. Sometimes shrink film is used to provide a snug fit for the contents. With flexible package forms, the goal of vacuum packing is often to minimise the volume of the contents and packaging while also removing oxygen from the container to increase the shelf life of goods.
Key market trends- Growth determinants and restraints
The Global Vacuum Packaging Market is developing at a quicker pace with significant development rates throughout the most recent couple of years and is assessed that the market will fill essentially in the gauge period for example 2022 to 2030.
In the upcoming years, the food industry is expected to drive the market because to the rising demand for sanitary packaged food and the growing necessity to extend the shelf life of the products. Today’s consumers want to eat fresh, healthy food and are becoming more and more conscientious of their eating habits. Customer attraction relies heavily on packaging, which must not only be visually appealing but also ensure product safety, freshness, and hygiene.
As all the air and oxygen are taken out of the packet before it is sealed, vacuum packaging gives the products a longer shelf life. Vacuum packaging safeguards food products including meat, fish, beef, and vegetables by lowering atmospheric oxygen levels, limiting the growth of aerobic bacteria or fungi, and preventing the loss of volatile food ingredients.
The market for vacuum packaging is primarily driven by the rising consumption of packaged and convenience foods among millennials and other young people. Convenience food is also lightweight, portable, and spill-proof, which makes it the generation’s first option. The demand for vacuum packing in the food industry is expected to increase as a result of changing lifestyles and a growing population. The pharmaceutical business also uses vacuum packaging because it gives medicinal items a highly sterile environment and a longer shelf life.
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Segmentation Analysis of Global Vacuum Packaging market:
Based on packaging material
- Polyethylene
- Polyamide
- Ethylene vinyl alcohol
- Other
Based on machinery use
- Thermoforms
- External vacuum sealers
- Tray sealing machines
- Others
Based on packaging type
- Flexible packaging
- Semi-rigid packaging
- Rigid packaging
- Others
Based on end-user
- Food
- Pharmaceuticals
- Industrial goods
- Ohers
Asia-Pacific is expected to hold the largest market share
North America, Europe, Latin America, Asia Pacific, and Middle East and Africa are the major regions constituting the geographical landscape of Global Vacuum Packaging market. Asia-Pacific dominates the market with the largest market share among others.
Competitive Landscape:
The Key players in the Global Vacuum Packaging Market are Amcor Limited, Bemis Company, Inc., Berry Plastics Corporation, Sealed Air Corporation, Linpac Packaging Limited, Multisorb Technologies, Inc., Coveris Holding SA, CVP Systems Inc., Ulma Packaging, SCOOP, and Orics Industries, Inc.
Major development:
The Global Vacuum Packaging market is expected to increase at a significant rate during the figure time period, somewhere in the range of 2022 to 2030. In 2020, the market was developing at a consistent rate and with the increasing reception of systems by key players, the market is supposed to ascend over the projected skyline.
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Major questions answered in this report:
- What is the growth rate of this Market?
- What are the primary growth determinants of the Global Vacuum Packaging market?
- Which are the major regions constituting the geographical landscape of Global Vacuum Packaging Market?
- Which are the prominent companies operating in Global Vacuum Packaging Market?
Key takeaways from the report:
- The Global vacuum Packaging market register a growing CAGR of over 4% from 2022 to 2030.
- In the upcoming years, the food industry is expected to drive the market because to the rising demand for sanitary packaged food and the growing necessity to extend the shelf life of the products.
- Asia-Pacific to lead the market with the highest market share.
- Some popular companies are Amcor Limited, Bemis Company, Inc., Berry Plastics Corporation, and Sealed Air Corporation.
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