Global Vacuum Packaging Market, By Material (PE, PP, PVC, PET, Others), Pack Type (Rigid, Semi-Rigid, Flexible), Machinery (Thermoformers, External Vacuum Sealers, Tray-Sealing, Others), Process (Skin, Shrink, Others), Application (Food & Beverage, Pharmaceuticals, Industrial, Consumer), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2025
Market Analysis: Global Vacuum Packaging Market
The Global Vacuum Packaging Market is set to witness a CAGR of 4.8% in the forecast period of 2018-2025, rising from its initial estimated value of USD 16.83 billion in 2017 to an estimated value of USD 24.49 billion by the end of the forecast period of 2018-2025. This is because of the rising demand for better quality packaging, and hygienic packaging practices rising the market share and hence, increasing the prospective market growth.
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Market Definition: Global Vacuum Packaging Market
Vacuum Packaging is the method of packing food and other products, by extraction of air from the package and from the outer material layer, hence, sealing it completely. It is a modern and innovative way of extending the shelf-life and improving the durability of the products. It is a reliable method of packaging as the products take less amount of space, after the vacuum packaging process has been completed.
- Rising demand for packaged and processed food switching from the traditional methods of consumption can be one of the attributive factor for the high demand of Vacuum Packaging Market
- Manufacturers want to make the product appear more aesthetic on the shelf for as long as possible, this requires complete and hygienic packaging that makes sure that the product isn’t spoiled and this requires the method of vacuum packaging, hence, the rising demand for it.
- High cost of development and uses of this method are the major factors which is halting its growth
- But constant innovation regarding other packaging methods, is also one of the major factors behind its halted growth
Segmentation: Global Vacuum Packaging Market
- By Machinery
- External Vacuum Sealers
- Others (Vacuum Chamber Machines, Mini Vacuum Machines)
- By Process
- Skin Vacuum Packaging
- Shrink Vacuum Packaging)
- Others (Traditional Vacuum Packaging)
- By Application
- Food & Beverage
- Industrial Packaging
- Consumer Goods
Competitive Analysis: Global Vacuum Packaging Market
The Global Vacuum Packaging Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Vacuum Packaging Market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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Key Market Competitors: Global Vacuum Packaging Market
The key players operating in the Global Vacuum Packaging Market are Bemis Company Inc., CVP® Systems, LLC., Sealed Air, ORICS, Berry Global Inc., Amcor Limited, ULMA Packaging S.Coop., Klöckner Pentaplast, Filtration Group Corporation, COVERIS, Wipak, and Mondi.