Vacuum Packaging Market Revenue, Opportunity, Segment and Key Trends To 2025
The Global Vacuum Packaging Market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of Vacuum Packaging will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2027, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2027).
The food and beverage markets represent the largest consumption group for packaging materials and machinery. Several reasons drive this growth such growing urbanization, increased living standards, and disposable income in the developing regions play a main role. With the increase in number of convenience stores and super marts across the globe, especially in Asia-pacific has led to increased consumption of processed and convenience foods and beverages. Such stores has been able to bring the processed and packaged eatables close to the consumers.
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Food & beverage industry has adopted vacuum packaging extensively across the world due to the some additional functionalities such as retention of integrity of a product and prevent food spoilage, along with increased shelf life. Such properties are ideal for the retail outlets where fresh and processed food items needs to be stored over a longer period of time as well it enables the consumers to see and feel the product from the packaging. This drives the demand of vacuum packaging across the foods & beverages industry.
The urban transition and economic growth have been linked with each other because economic development fuels urbanization. General trends in urbanization are linked to sustainable development of a country. The increasing concentration of people in urban areas can facilitate economic and social development, while offering opportunities to reduce the impact of consumption and production on the environment. This leads to a general change in the preferences of the consumers as well as brings change in the consumption patterns.
The Global Vacuum Packaging Market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Product Material: Comprises PE, PA, and others.
Segmentation by Packaging: Comprises Rigid Packaging, Flexible Packaging, and Semi-Rigid Packaging
Segmentation by Application: Comprises Pharmaceutical, Food, Industrial, Consumer Goods, and Others
Asia pacific is referred as the largest & fastest growing market for vacuum packaging, followed by Europe & North America. Increasing population, rising packaged & convenience food demand, healthcare expenditure is driving the market in Asia-Pacific region. Moreover, rapid industrialization in China and India expected to propel the regional market in the forecast period. Furthermore, growing healthcare sector is expected to propel the pharmaceutical packaging demand in the region.
Whereas, Europe is referred as second largest market in terms of revenue. Factors such as emergence of eco-friendly packaging technologies, which are inexpensive and manufactured from recycled material are driving the market in Europe.
E. I. duPont de Nemours and Company (U.S.), Bernis Company Inc.(U.S.), Amcor Ltd. (Australia), Berry Plastic Corp. (U.S.), Linpack Packaging Ltd. (U.K.), Sealed Air Corp. (U.S.), Coveris Holdings (Luxembourg), Winpak, and Green Packaging Material (Jiangyin) Co., Ltd. (China). and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Vaccum Packaging Market.
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