Vacuum Packaging Market 2021 Analysis by Competitive Landscape, Product, Application, Geography, Growth Drivers, and Future Outlook 2025
Asia Pacific is the fastest growing region in the vacuum packaging market, projected to reach 17 billion, growing at a CAGR of 5.1% over the forecast period.
Dallas, United States – March 30, 2021 /MarketersMedia/ —
The global vacuum packaging market was valued at USD 28.11 billion in 2018, owing to the growing demand for processed and convenience food in the developing countries. Additionally, the growing awareness regarding the hygienic packaging of various food items such as meat and beef products is expected to drive the market over the forecast period. There are several advantages offered by vacuum packaging as compared to normal packaging. Vacuum packaged food has a longer shelf life and is not subject to the germs and bacteria present in the air. Vacuum packaging offers safety to the product while transportation. It also makes the handling and transfer of products easy, without causing any damage to the products especially in the food, beverage and pharmaceutical industries.
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The global vacuum packaging market report assess the market scenario and provides insights on the demand for the period 2015 to 2025. The report throws a light on the historic trends from 2015 to 2018 and provides the market forecast from 2019 to 2025. The report also analyzes the current status and future market prospects of the vacuum packaging industry at a global, regional and country level. In this study, the vacuum packaging market is segmented by machine, type, application and geography. The report analyzes a wide range of quantitative and qualitative factors of the global vacuum packaging industry and provides the market outlook for growth drivers, growth restraints and current industry trends. Furthermore, the report offers an in-depth valuation of vacuum packaging industry’s competitive landscape, with global and as well as regional players operating in the market.
Based on machine, the market is categorized into external vacuum sealer machine, thermoforming machine, tray-sealing machine, and others. Thermoforming machines are widely being used in the food, pharmaceutical, and consumer goods industries. The increasing consumption of on-the-go and ready meals due to the busy lifestyles of consumers is expected to drive the vacuum packaging market.
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Based on type, the market is categorized into rigid packaging, semi-rigid packaging, and flexible packaging. Flexible packaging demand is mostly driven by the growing end use industries mainly food, beverage and pharmaceuticals, which are contributing towards the vacuum packaging market growth during the forecast period.
Based on end user, the market is categorized into food & beverages, pharmaceutical, consumer goods, industrial packaging, and others. Significant growth of various end-use industries such as pharmaceutical, food and consumer goods is projected to propel the demand of vacuum packaging over the next few years. Rising disposable income, growing industrialization, increasing population coupled with the snowballing healthcare expenditures in developing economies such as India and China, are some of the aspects driving the end-use industries in the vacuum packaging market over the forecast period.
Based on the region, the global vacuum packaging market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Central & South America. The Asia Pacific region held the largest market share in 2018 and is expected to grow at a highest CAGR if 5.1% over the forecast period. Various factors such as changing consumer lifestyles, growing disposable income and consumption of convenience food containing flexible vacuum packaging such as meat, pork, and beef is expected to drive the vacuum packaging market over the forecast period.
The major players of global vacuum packaging market include Amcor Limited, Berry Plastics Corporation, Multisorb Technologies, Inc., Bemis Company, Inc., CVP Systems, Inc., Sealed Air Corporation, ULMA Packaging, Orics Industries, Inc., Linpac Packaging Limited, Coveris Holdings S.A., and others.
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Segment overview of Global Vacuum Packaging Market
By Machine Overview, 2015-2025 (USD Million)
· External Vacuum Sealer Machine
· Thermoforming Machine
· Tray-sealing machine
· Others
By Type Overview, 2015-2025 (USD Million)
· Rigid packaging
· Semi-rigid packaging
· Flexible packaging
By End User Overview, 2015-2025 (USD Million)
· Food & Beverages
· Pharmaceutical
· Consumer goods
· Industrial packaging
· Others
Regional Overview, 2015-2025 (USD Million)
· North America
· Europe
· Asia Pacific
· Middle East and Africa
· Central & South America
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