Vacuum Packaging Market to See Incredible Growth During 2016-2026
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Global Vacuum Packaging: Market Segmentation
The global Vacuum Packaging market is segmented on the basis of application which includes pharmaceutical, food, packaging of consumer goods and industrial packaging. In 2015, food packaging captured the maximum share in revenue terms in the global vacuum packaging market. The segment is anticipated to remain dominant during the forecast period. The global vacuum packaging market is also bifurcated on the basis of machinery types used for packaging of the products such as external vacuum sealers, thermoformers, tray-sealing machine, and other machines. The global vacuum packaging market is also divided on the basis of pack type which includes rigid packaging, semi-rigid packaging and flexible packaging. Flexible packaging is likely to grow at a significant pace over the next ten years from 2016-2026. The global vacuum packaging market is also fragmented by materials such as polyamide, ethylene, polyethylene and vinyl alcohol.
Global Vacuum Packaging Market: Growth Drivers
Robust consumption of convenience and processed food has been the major growth drivers of the global vacuum packaging market. Rising consciousness about food safety and hygiene have become consumer’s foremost urgency. This has inclined the demand for vacuum packaging all across the world. Rising household income as well as inclination to spend for hygienic food are anticipated to impel the growth of global vacuum packaging market during the forecast period. Apart from this, speedy industrialization in the developing economies along with higher population growth are anticipated to bolster the growth of global vacuum packaging market during the period 2016-2026.
Global Vacuum Packaging Market: Regional Outlook
Geographically, the Global Vacuum Packaging industry can be divided by major regions which include North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa. Asia-Pacific region captured the highest share in value terms in the global vacuum packaging market during 2015. The region is likely to be dominant in future due to robust demand for packaged food in emerging economies of Indian and China till 2026. Europe is anticipated to be the second largest market in terms of revenue during the period 2016-2026.
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Global Vacuum Packaging Market: Key Players
Some of the key vendors identified across the value chain in the global Vacuum Packaging market include CVP Systems Inc., Berry Plastics Corporation, Linpac Packaging Limited, Amcor Group, Coveris Holding S.A., Ulma Packaging, Multisorb Technologies Inc., Orics Industries, and Sealed Air Corporation. The vacuum packaging manufacturers have wide product portfolio and substantial capital for research and development. The launch of new products as well as the expansion are anticipated to be the major strategies of the key vendors to gain the competitive advantage.
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