Vacuum Skin Packaging Market Growing Demand for Vacuum Skin Packaging across the Globe

According to Precision Business Insights (PBI), the latest report, the vacuum skin packaging market was valued at USD 27,369.8 million in 2022 and is poised to grow at a CAGR of 4.8% during the forecast period 2023 to 2029. The primary drivers of the expansion of the global vacuum skin packaging market include the increasing need for concern of food packaging to conserve and preserve food and also to increase the shelf life of the food material especially food items like meat and dairy products.

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The vacuum skin packaging market is segmented based on product type, material type, application, and geography.
Based on the product type, the market is segmented into the following:
• VSP films
• Trays & films

Based on the material type, the market is segmented into the following:
• Polyethylene
• Polypropylene
• Polyvinyl chloride
• Others

Based on the application, the market is segmented into the following:
• Meat
• Poultry
• Seafood
• Dairy Products
• Ready Meals
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

Meat Industry Segment is expected to Dominate the Vacuum Skin Packaging Market:
Based on the application, the global vacuum skin packaging market is segmented into meat, poultry, seafood, dairy products, ready meals, and others. The meat segment is expected to account for a larger revenue share in the global vacuum skin packaging market. Increase in awareness of people in the preservation of fresh food is expected to propel the growth of vacuum skin packaging market in this segment. The increase in trend of packed food and ready-made food in developing countries is expected to boost the market growth at an significant rate. Sellers motive to Delivery of fresh meat to the customer and reduce the waste are the key driving factor in the growth of vacuum skin packaging market across the globe.

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Asia Pacific Vacuum Skin Packaging Market:
The Asia Pacific vacuum skin packaging market is expected to increase over the forecast period due to the increase in population and rapid urbanization in this region. The rising trend of packed food and ready-made food in the countries like India, China are expected to drive the market growth in this region. The increase in number of food and pharmaceutical industries in this region is expected to boost the growth of vacuum skin packaging market at a significant rate in this region. Moreover, countries like India, China, Japan are the key contributing countries in the growth of market in this region due to their increased adoption to advanced technology, increased disposable income and increase in per capita income.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Vacuum Skin Packaging market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

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Key players profiles in the vacuum skin packaging market report are DuPont, Amcor Limited, Sealed Air, Berry Global Inc., LINPAC Packaging Limited, Bemis Company Inc., G. Mondini SA, Green Packaging Material Co. Ltd., Plastopil Hazorea Company Ltd., Anuga FoodTec.

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This release was published on openPR.