Vacuum Packaging Market is registering a CAGR of 5.6%

The Market Statsville Group (MSG) publishes the new report on the "Vacuum Packaging Market by Material (PE, PVC, PP, and Others), by Pack (Flexible, Rigid, and Semi-rigid), by End-Users (Food, Pet Food, and Agricultural Produce), by Region – Global Share and Forecast to 2030". The global vacuum packaging market size is projected to grow at a CAGR of 5.6% during the forecast period. Major factors that influence the packed food industry include the increasing population, changing lifestyle trends, higher disposable incomes, growing urbanization, and regulatory support for investments in R&D. Greater disposable incomes and a growing population has raised the global demand for packaged and processed food with a longer shelf life. The need for hygienic, packaged food with efficient packaging and guaranteed safety will only benefit the vacuum packaging market. Additionally, meat and seafood consumption is a substantial pillar for convenient packaging. Most of the spending on packaged goods originates in urban areas, so consumption will witness exponential growth in the APAC region. The introduction of diverse varieties of packaged food has led to greater demand for easy-to-use packaging that offers an accessible, printable surface to enable clear product differentiation on shelves.

Global Vacuum Packaging Market Segmentation

The overall vacuum packaging market has been segmented into the material, pack, end-use, and region.

• By Material (PE, PVC, PP, and Others)
• By Pack (Flexible, Rigid, and Semi-rigid)
• By End-Users (Food, Pet Food, and Agricultural Produce)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Food, by end-users, is estimated to hold the largest market share during the forecast period

The global vacuum packaging market is segmented into food, pet food, and agricultural produce by end-users. The food segment generated the highest revenue of 75.5% of the total global vacuum packaging market in 2021, and it is expected to register a significant CAGR from 2022 to 2030. The food industry dominates the vacuum packaging market. Packaging costs in the food industry account for 8−10% of the total product cost. Adding shipping costs, which are usually 9%, the overall finances involved in packaging and logistics shoot up. Vacuum packaging reduces the packaging and logistics burden because of lightweight packaging and volume with extended shelf life properties.

The cost-benefit associated with reducing food wastage and a longer storage capability drives the adoption of vacuum packaging for food, pet food, and pharmaceuticals. In addition to the food industry, vacuum packaging is widely used for agricultural produce and pet food. Increasing demand for hygienic packaged food will boost product demand in the forecast period.

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The Asia Pacific accounts for the largest market share in the vacuum packaging market 2021

Based on the regions, the global vacuum packaging market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, Asia Pacific accounted for the largest market and had a 34.0% market share. China is one of APAC’s major contributors to the vacuum packaging market. The fast-paced economy of China has fueled the demand for packaging in the region. Its vacuum packaging industry is well established and will grow steadily throughout the forecast period. Rapid technological changes and urbanization in the country are in line with changing consumer trends in packaging. So vacuum packaging, particularly in the food sector, is expected to grow substantially. Key drivers include growing consumer demand for high-quality, safer, and longer-shelf-life packaging.

Moreover, Convenient and efficient packaging designs in the food packaging industry of Japan are trending. Japanese packaging has been taking care of both form and function in the food sector. Japan is the second-largest producer of plastic waste per capita. For this reason, the Ministry of the Environment, Government of Japan, aims to reduce plastic waste by 25% by 2030 by implementing mandatory regulations for plastic use. Due to this, the vacuum packaging market will see an impact since plastic is the main raw material in the sector. Vendors will thus need to shift toward more eco-friendly materials for packaging.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the vacuum packaging market. It also consists of leading companies such as Sealed Air Corporation, Bemis Company, Inc., ULMA Packaging, CVP Systems, Inc., Linpac Packaging Limited, Berry Plastics Corporation, Multisorb Technologies, Inc., Orics Industries, Inc., Coveris Holdings S.A., and Amcor Limited.

Browse complete report: https://www.marketstatsville.com/vacuum-packaging-market

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