Vacuum Skin Packaging Market | USD 18,392 Million by 2023 with a CAGR of 5.77% - Global Forecast to 2023

Market Research Future published a research report on “Global Vacuum Skin Packaging Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Global Vacuum Skin Packaging Market Information Report by Material (Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride (PVC) and Other), by Application (Meat, Poultry, Cheese and others) and Region - Global Forecast To 2023

The global vacuum skin packaging market is expected to reach USD 18,392 million by 2023 with a CAGR of 5.77%.

The key players of global vacuum skin packaging markets are Bemis Company Inc. (U.S.), Amcor Ltd. (Australia), Berry Plastic Corp (U.S.), Linpac Packaging Ltd. (U.K.), Sealed Air Corp (U.S), E.I. Du Pont De Nemours and Company (US), Multisorb Technology (U.S.), G. Mondini SPA (Italy.), and Westrock Company (U.S.) among others.

Taste the market data and market information presented through more than 85 market data tables and figures spread in 140 numbers of pages of the project report. Avail the in-depth table of content & market synopsis on “Global Vacuum Skin Packaging market Information from 2016 to 2020"

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One of the most significant factors for the growth of vacuum skin packaging market is the continued objective of the food industry to decrease and prevent the spoilage of food products. Vacuum packaging is also done to retain the nutritional value of food and prevent loss of taste and texture of the food. Dedicated efforts are made by the food industry to make sure food remains fresh until it reaches end users. Furthermore, research and development in the vacuum packaging industry has resulted in making the packaged product free from contamination and leakage. Vacuum Skin Packaging also helps in extending the shelf life of products by controlling hazardous exposure to light, oxygen and water, which can alter the texture and quality of food. Vacuum skin packaging also comes to the rescue of food suppliers and manufactures as they act as evidence of product tampering and have substantially increased operational efficiency, throughout the supply chain.

Key Players:

Bemis Company Inc. (U.S.), Berry Global Group, Inc. (U.S.), LINPAC Packaging Limited (U.K.), Amcor Ltd. (Australia), Sealed Air Corporation (U.S.), DuPont (U.S.), G. Mondini SA (Italy), and Green Packaging Material (Jiangyin) Co., Ltd. (China) are some of the prominent players at the forefront of competition in the global vacuum skin packaging market and are profiled in MRFR Analysis.

Global Vacuum Skin Packaging Market - Competitive Analysis

Vacuum skin packaging industry has seen significant growth in last few years due to its application across industries, cost efficient solution and sustainable packaging solutions. The major players operating in this market, who have adopted expansion as their key startegy are Bemis Company Inc (U.S.), Berry Global Group, Inc. (U.S.), LINPAC Packaging Limited (U.K.), Amcor Ltd. (Australia), Sealed Air Corporation (U.S.), DuPont (U.S.), G. Mondini SA (Italy), Green Packaging Material (Jiangyin) Co., Ltd. (China) and others.

Amcor Ltd. announced the completion of the Alusa acquisition, which was first announced on 18 April 2016. Amcor now has a unique platform in an important growth region. Along with leadership positions in Europe and Asia, a strong presence in South America significantly improves Amcor’s customer value proposition in the flexible packaging marketplace, positioning us as a partner of choice for customers.

Amcor Ltd. also launched transparent packaging that allows consumers to see the product inside has been a growing trend on store shelves in recent years, but metal-free packaging was often not a practical option for products requiring an outstanding barrier.

Berry Global Group, Inc. sees its key strategy in mergers & acquisitions and continued partnership & collaboration with major companies. It believes in expanding their current business network by creating economic value through mergers & acquisitions. The acquisitions strategy is focused on improving company’s long-term financial performance, enhance market positions and expand existing and complementary product lines. In 2015, Berry Plastics Group, Inc. acquired AVINTIV Inc. from private equity funds managed by The Blackstone Group LP for approximately USD 2.45 Million.

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Global Vacuum Skin Packaging Market - Segments

The report has been analyzed based on the material type, product, application and region. Among all the regions, the Asia-Pacific region is expected to grow rapidly. The rapid industrialization and the increase in demand for preference of non-locally produced meat in the region is expected to drive the growth of the vacuum skin packaging market over the forecast period. The increase in the export possibilities to the North America and Europe regions is further expected to drive the growth of the market here.

Global Vacuum Skin Packaging Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.

Segmentation By Material : Comprises – Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride (PVC) and Other
Segmentation By Application : Comprises – Meat, Poultry, Cheese and others
Segmentation By Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World

Global Vacuum Skin Packaging Market - Regional Analysis

APAC is expected to experience the fastest growth during the forecasted period due to the economic growth of China and India. The rising population of the region, along with high disposable income and the demand for safe & hygienic packaging of products are factors driving the growth of the vacuum packaging market in this region.

China is estimated to grow faster than any other country due to increase in food consumption, rapid urbanization, and strong economic growth. China is by far the world’s largest consumer and producer of pork and has maintained self-sufficiency over the years. In 2016, The Ministry of Agriculture’s 5-year plan set the objectives of increasing scale of hog farms, utilizing hog waste, shifting hogs away from cities and southern watersheds, improving cold chain, establishing traceability, and increasing vertical coordination.

In India, livestock sector is one of the most important components of agriculture in India. On account of favorable socio- economic factors such as changing eating habits, higher purchasing power, urbanization, increasing health consciousness towards protein rich diet there has been an increase in demand for meat and the sector has gained importance in terms of contribution to income, employment and foreign exchange earnings. Buffalo, in India, contributes about 30% of total meat production.

North America accounts for the second largest market share. According to the North American Meat Institute (NAMI), the meat and poultry industry is the largest segment of U.S. agriculture. Total meat and poultry production in 2012 reached more than 93 billion pounds. There is an immense need for proper packaging of such meat products, which will ensure longer shelf life of the meat products. For this reason, vacuum skin packaging market is gaining traction in the U.S. region.

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