Vacuum Packaging Market Size, Share Analysis, Future Insights, Current Trends And Global Growth Outlook By 2033

The Business Research Company recently released a comprehensive report on the Global Vacuum Packaging Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The vacuum packaging market size has grown strongly in recent years. It will grow from $31.2 billion in 2023 to $32.93 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to emergence of preservation techniques, food industry adoption, demand for extended shelf life, industrial applications, convenience and portability.

The vacuum packaging market size is expected to see strong growth in the next few years. It will grow to $41.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to consumer awareness and preferences , economic factors, health and hygiene considerations, globalization and market expansion. Major trends in the forecast period include value-added packaging features, cross-industry applications, safety assurance and hygiene, small batch and on-demand packaging, biodegradable packaging materials.

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Market Drivers and Trends:

The growing beverage industry is expected to propel the growth of the vacuum packaging market. The beverage industry is a global network of providers who manufacture and distribute all types of beverages, including non-alcoholic and alcoholic beverages. Vacuum packaging is critical for protecting the freshness, flavor, and quality of beverages, especially those that degrade due to exposure to air and environmental influences. For instance, in September 2022, according to the report published by the Distilled Spirits Council, a US-based national trade association, sales and volume of ready-to-drink spirits-based beverages increased. Revenue from suppliers of pre-mixed cocktail or spirits-based RTDs (ready to drink) climbed by 42.3 % to $1.6 billion in 2021. Therefore, the growing beverage industry is driving the growth of the vacuum packaging market.

Technological advancement is a key trend gaining popularity in the vacuum packaging market. Major companies operating in vacuum packaging are concentrating on creating leak detection technologies to reduce such leaks and avoid spoilage of food items. Such advancements enable key players to gain a competitive edge in the market. For instance, in April 2021, Ametek Mocon, a packaging and container manufacturing company based in the United States, launched the Dansensor Lippke VC1400. The system detects leaks in flexible, semi-rigid, and rigid packaging. This new system features a user-friendly GUI allowing simple and intuitive data capture, storage, and export. It is vacuum-based technology and ideal for methylene blue dye testing, quickly identifying when the packaging is broken.

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Major Key Players of the Market:

Berry Plastics Corporation, CVP Systems Inc., Linpac Packaging Limited, Coveris Holding S.A., Amcor Group, ULMA Packaging S.A.R.L, Orics Industries Inc., Multisorb Technologies Inc., Sealed Air Corporation, Klöckner Pentaplast Group, Sealer Sales Inc., Kite Packaging Ltd., US Packaging & Wrapping LLC, Collinsons Vacuum Packaging Pty. Ltd., Stewart's Packaging Inc., Swiss Pac Pvt Ltd., Safe Packaging Systems, Vacuum Packaging Technologies, Vacuum Packaging Systems Inc., Vacuum Sealer Manufacturers Inc., Vacuum Sealers Direct, Vacuum Seal Store, Vacuum Depot, MULTIVAC Sepp Haggenmüller SE & Co. KG, Tetra Pak Group, Crown Holdings Inc., Ball Corporation, Alcan Packaging, Reynolds Group Holdings, Graphic Packaging International

Vacuum Packaging Market 2024 Key Insights:

• The vacuum packaging market size is expected to see strong growth in the next few years. It will grow to $41.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%.
• Rising Demand For Packaged Food Accelerates Growth In Vacuum Packaging Industry
• Technological Advancements In The Vacuum Packaging Market
• Asia-Pacific was the largest region in the vacuum packaging market in 2023

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