Press release
Vacuum Packaging Market: Rising Trend of Material Minimization to Encourage Usage of Vacuum Packaging
Transparency Market Research estimates that the revenue generated from the sales of vacuum packaging will be valued over US$15.7 bn by the end of 2016, and increase at a CAGR of 4.9% during 2016-2024. The market’s valuation is expected to surpass US$22.8 bn by 2024. In terms of the material used for vacuum packaging, the polyethylene segment is expected to dominate the market in terms of contribution of revenue over the forecast period. The segment is expected to account for a share of over 38% of the market in 2016. Geographically, the market in Europe is estimated to lead with a 32.4% of the market in 2016.Browse Market Research Report @
http://www.transparencymarketresearch.com/vacuum-packaging-market.html
Demand for Polypropylene to Rise at Most Promising Pace
Of the key materials used in vacuum packaging, the segment of polyethylene (PE) is expected to dominate the global vacuum packaging market, accounting for over 38% of the overall market by 2016. The segment is also expected to remain the dominant contributor to the revenue of the global vacuum packaging market throughout the forecast period, but witness stagnant growth, registering a 4.6% CAGR over the forecast period.
The rate of growth of the polypropylene (PP) segment is expected to outpace that of the other key material types used for vacuum packaging over the forecast period. The segment is expected to exhibit a CAGR of 5.7% over the period between 2016 and 2024, and grab a bigger piece of the pie by the end of the forecast period. High-barrier films and extended shelf life of polypropylene packaging are the key factors leading to the material’s increased adoption in the vacuum packaging industry. Segments with vinyl content i.e. polyvinylchloride (PVC) and polyvinylidenchloride (PVDC) are estimated to collectively account for over 20% of the market by the end of 2016 and are anticipated to lose 0.5% of their share in the market by 2024.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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