Global Vacuum Packaging Market Valued $42.70 Billion in 2030, Growing at a CAGR of 4%

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%. Increasing demand for hygienic packaged food is expected to propel the product demand over the next seven years. Vacuum packaging is a method of removing air from a pack before sealing it. The technique's main goal is to remove oxygen by bringing the packing material into close contact with the product. This sort of packaging has other benefits, such as increasing the rigidity of flexible containers and decreasing bulk.

The expansion of the pharmaceutical industry around the world is one of the primary factors driving the growth of the vacuum packing market. Adoption of serialized drug tracking and tracing, as well as increased demand for drug delivery devices and blister packaging, drive market growth. The increase in mergers and acquisitions to support new needs and research and development of medications, as well as the increase in the number of modern manufacturing processes to generate sustainable and eco-friendly packaging solutions, all have an impact on the market. Furthermore, advancements in new technologies, changes in consumer preferences, increased awareness, increased usage of smart packaging for patient engagement, and increased understanding about preventative healthcare all have a beneficial impact on the vacuum packaging industry.

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Market Key Trends:

Growing need for packaged products

The demand for vacuum packaging is influenced by growing need for packaged products such as chicken, beef, and pork. As per the World Health Organization (WHO), annual meat production will reach 376 million tonnes by 2030. Further, utilizing polythene vacuum packaging for meat and food products has the potential to minimize food waste by a staggering 75%. The vacuum packaging market is undergoing a huge technological advancement. Innovative and new developments such as light-weight packaging and recyclable packaging are shaping the market landscape.

Low processing and production cost

Low processing and production cost as well as abundance of plastic materials such as polyethylene (PE) are enabling their broader adoption in manufacturing vacuum packaging solutions. Excessive usage of such plastics, although recyclable, are posing threat to surroundings and are, thus, facing regulatory stringency. While vacuum packaging improves shelf life of frozen food items, certain bacteria are still able to grow and further contaminate food products.

Market Segmentation:

The global vacuum packaging market can be segmented on the basis of packaging material, pack type, application, and geography.

By Packaging Material:

Polyethylene (PE)
Polyvinyl chloride (PVC)
Polypropylene (PP)
Polyamide (PA)
Ethylene Vinyl Alcohol (EVOH)
Others

By Pack Type:

Rigid Packaging
Flexible Packaging
By Application:
Food & Beverages
Pharmaceuticals
Industrial Goods
Consumer Goods
Others

By Geography:

North America (U.S., Canada)
Europe (U.K., Germany, France, Italy, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific)
Latin America (Brazil, Mexico, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Market Regional Analysis:

The Global Vacuum Packaging Market is further segmented into five major countries- North America, Europe, Asia-pacific, Latin America, Middle East and Africa.

Asia Pacific holds the maximum share in the global vacuum packaging industry and it is expected to be the fastest-growing market over the forecast period. Increasing population, rising packaged & convenience food demand, healthcare expenditure, and rapid industrialization in China and India are expected to propel the regional market over the forecast period.

North America (US, Canada, Mexico)

Europe (UK, Germany, Spain, Italy, Russia, France)
Asia-pacific (India, China, Japan, South Korea, Australia)

Latin America (Argentina, Brazil, Colombia)

Middle East and Africa (UAE, Saudi Arabia, South Africa)

Market Key Players:

Berry Plastics Corporation, CVP Systems Inc., Linpac Packaging Limited, Coveris Holding S.A., Amcor Group, Ulma Packaging, Orics Industries, Multisorb Technologies Inc., and Sealed Air Corporation

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FAQs:

Q. What is the growth rate projection for Global Vacuum Packaging Market over the forecast period 2022-2030?

A. 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%.

Q. Which regional segment accounts for the largest revenue in the Global Vacuum Packaging Market?

A. Asia-pacific is accounted for the largest revenue share in the Global Vacuum Packaging Market, due to high disposable income.

Q. What are the key trends of Global Vacuum Packaging Market?

A. Growing need for packaged products and Low processing and production cost are the two major driving forces in the market.

Key Points:

Define, describe and forecast Potentiometers product market by type, application, end user and region.

Provide enterprise external environment analysis and PEST analysis.

Provide strategies for company to deal with the impact of COVID-19.

Provide market dynamic analysis, including market driving factors, market development constraints.

Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.

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Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
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Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market

Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region

Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled

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The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions

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