Vacuum Packaging Market 2022

Industry Size, Regions, Emerging Trends, Growth Insights, Opportunities, and Forecast By 2030

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

Region: Global | Format: Word, PPT, Excel | Report Status: Published

Description

The global vacuum packaging market size is expected to grow at a CAGR of 5.6from 2022 to 2030Vacuum packing (or vacuum sealingis a form of packaging that involves the removal of air from a food container to ensure its longevityPet food, human food, and agricultural produce are major end-users of vacuum packaging, with meat, poultry, and seafood as the major end-users under the food categoryThe main purpose of the packaging is to remove oxygen by attaching the packaging material to the product to increase resistance against any moisture and air elements.

Also, vacuum-packed products are protected from moisture, dust, and other environmental gases and are increasingly preferred by most manufacturers in the global food industryConvenient packaging and easy handling are strongly driving vacuum packagingIncreasing disposable incomes and urbanization have also increased the demand for vacuum-packed productsChanging consumer trends for ready-to-go and lightweight packaging are key drivers of the vacuum packaging market.

With the rising number of single-person households and small families, the demand for compact product packaging is growingIt has encouraged retailers to incorporate various packaging into their portfolios to meet customer needs and minimize food wasteTherefore, it has been witnessed that the demand for eco-friendly vacuum packaging has created new trends in food safety, ensuring longer shelf life and convenience of food products.

COVID-19 Impact on the Global Vacuum Packaging Market

COVID-19 has impacted companies across geographiesDespite wide macroeconomic headwinds, some packaging suppliers have benefited from the economic pace powering short-term sales growthMoreover, consumer demand for protein products also increased by over 70for the second week of March 2020 (Y-o-Y), which is expected to create demand for trays and flexible filmsAlso, customers have increased demand for extended shelf life packaging due to a disruption in the supply chain amid COVID-19 measures.

In March 2020, grocery markets grew tremendously due to nationwide lockdowns that permit only the food industry to continue its salesHowever, a short-term decline is expected during COVID-19 in the packaging industry, including the vacuum packaging marketAlong with offline retail, online retail has been growing significantly during the pandemic, with exorbitant sales in groceries, which will supplement overall revenue generation in the vacuum packaging marketThe high demand for vacuum packaging primarily comes from the food segment and is usually persistent across all seasons.

The high prices of premium food products are expected to impact the market considerably, while reasonably priced essentials will increase demandThe post-COVID-19 situation of Italy made packaging vendors reassess and revisit their inventoriesThey re-strategize their supply chain by reducing their dependence on cross-border suppliers owing to a fear of trade route blockade.

Global Vacuum Packaging Market Dynamics

DriversIncrease in Shelf Life

The shelf life of food products is a vital factor behind the increasing demand for vacuum packaging formatsVacuum packaging preserved food products three to five times longer than traditional packagingHowever, the shelf life also depends on whether the vacuum-packed product is stored in a refrigerator, freezer, or pantryThe majority of vacuum-packed food products are meat & poultry and seafoodVacuum packaging involves the removal of oxygen and any air trapped within the packaging of the product, which is a major reason for the increase in resistance of the food product from spoilageThe effect of microbial activity on fresh seafood results in a loss of flavor and odor, which leads to wastageMoreover, the time sensitivity involved in handling, processing, holding, and transporting products in the supply chain drives the demand for vacuum-packed products, enabling top-notch quality and maximum profits for the vendor.

RestraintsGrowing Environmental Awareness About Plastic

The major challenge in the vacuum packaging industry is greenhouse gas (GHGemissions, which are generated primarily due to energy consumption during plastic processingOver the past decade, huge growth in the plastic processing sector has led to increased energy consumption and associated greenhouse gas emissionsLDPE, LLDPE, and HDPE are widely used in making plastic material and are the most common resins in vacuum packagingEmissions from production to decomposition of plastic inflict unimaginable amounts of air and land pollutionSupposing plastic production continues to grow at the same pace, by 2025, these emissions are expected to reach one gigaton per yearWith the expansion of the plastic industry, particularly in production, GHG emissions will attain alarming proportions in the future.

OpportunitiesDemand of High Barrier Plastics

High barrier plastics are premium packaging materials that keep moisture, air, and other elements away from the item contained in the vacuum packHigh barrier packaging comes in two different formshigh barrier films and high barrier shrink vacuum packsIt also includes using many layers of plastic material (majorly PVDC and EVOHto safeguard the pack from air and moistureTo enhance the product's shelf-life inside the vacuum pack with rich flavors and aromaHigh barrier packaging is also growing in demand for food and non-food product applicationsFurther, the high barrier structure shows more robust puncture resistance properties, making the pack virtually immune to wear and tear.

The chances of food spoilage at any point in the entire supply chain have been a substantial motivator for using high-barrier packaging materialsWith the increasing demand for high barrier packaging in the vacuum packaging industry, there is also a rising inclination toward recyclable high barrier plasticsConsumer awareness of convenience and eco-friendly packaging in the food industry is also responsible for the expected rise in high barrier vacuum packaging demand.

Scope of the Report

The study categorizes the vacuum packaging market based on material, pack,  and end-users at the regional and global levels.

By Material Outlook (Sales/Revenue, USD Million, 2017-2030)

  • PE
  • PVC
  • PP
  • Others

By Pack Outlook (Sales/Revenue, USD Million, 2017-2030)

  • Flexible
  • Rigid
  • Semi-rigid

By End-Users Outlook (Sales/Revenue, USD Million, 2017-2030)

  • Food
  • Pet Food
  • Agricultural Produce

By Region Outlook (Sales/Revenue, USD Million, 2017-2030)

  • North America (US, Canada, Mexico)
  • South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
  • The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

The PE segment is projected to account for the largest market share, by material

The global vacuum packaging market is divided into PE, PVC, PP, and others based on materialIn 2021, PE accounted for the largest market share of 40.7in the global vacuum packaging marketVacuum packages are manufactured in polyethylene, specifically low-density polyethylene (LDPEand linear low-density polyethylene (LLDPE). High-density polyethylene (HDPEhas been used across several vacuum packaging applications since it protects vacuum packs from acids, oils, and other contaminating substancesProducts that require zero exposure to oxygen largely demand LLDPE, which is the most flexible compared to LDPE and HDPEThe primary motives behind the usage of polyethylene packaging include flexibility, lightweight, strength, cost-effectiveness, and excellent sealing capability.

Further, polyethylene boasts good moisture resistance, which keeps the vacuum-packed product preserved for a longer periodVacuum packs are mostly used in layers to safeguard their contents to the maximum extentPolyethylene is used with polyamide (nylonas a raw material to make flexible packaging, in which polyethylene takes up around 70of the material and polyamide 30%. There has been a growing trend in using polyethylene vacuum pouches across various applications, including food products, pharmaceuticals, and moreVacuum packs are excellent gas barriers with maximum puncture resistance and the ability to prevent food from damage.

Asia Pacific accounts for the highest CAGR during the forecast period 

Based on the regions, the global vacuum packaging market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & AfricaGlobally, Asia Pacific is estimated to hold the highest CAGR of 6.6in the global vacuum packaging market during the forecast periodThe vacuum packaging market has been growing at a healthier rate in the APAC region, holding the largest global shareThe rise of populations, growing urbanization, and increasing food expenditures, particularly in China and India, are key drivers of the vacuum packaging market in APACThe consumption of packaged food has been growing tremendously with the population in APAC.

Moreover, the huge number of small and large retail outlets is certainly a pillar to the growth of the vacuum packaging marketIncreasing food expenditures and growing demand for meat and seafood are also contributors to APAC's vacuum packaging marketThe selection of materials in these nations is important as people look for high-quality products with a longer shelf lifeThe APAC region has demand for low-cost vacuum pouches and premium quality vacuum packagingFlexible vacuum packaging for food and pet food is expected to fuel the market growth during the forecast period.

Key Market Players

The vacuum packaging market is mildly concentrated in nature, with few numbers global players operating in the market, such as CVP Systems, Inc., Sealed Air Corporation, Bemis Company, Inc., ULMA Packaging, Linpac Packaging Limited, Coveris Holdings S.A., Berry Plastics Corporation, Multisorb Technologies, Inc., Orics Industries, Inc., and Amcor LimitedEvery company follows its business strategy to attain the maximum market share.

Recent Developments

  • In January 2020, Amcor announced its partnership with Moda vacuum packaging systems in North America and Latin AmericaThis strategic partnership expects the company to gain operational efficiencies and total cost savings.
  • In 2019, Berry Global acquired RPC to penetrate the plastic packaging and non-packaging market and expanded its geographical reach to the UK and EUIt will pursue an acquisition strategy during the forecast period.
  • In 2019, the WIN-PAK company acquired Control Group to expand its printed packaging solutions and vacuum printed pouches.

Key Issues Addressed

  • What is the market size by various segmentation of the vacuum packaging by region and its respective countries?
  • What are the customer buying behavior, key takeaways, and Porter's five forces of the vacuum packaging market?
  • What are the key opportunities and trends for manufacturers in the vacuum packaging supply chain?
  • What are the market's fundamental dynamics (drivers, restraints, opportunities, and challenges)?
  • What and how are regulations, schemes, patents, and policies impacting the market's growth?
  • What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
  • The market player positioning, top winning strategies by years, company product developments, and launches will be?
  • How has COVID-19 impacted the demand and sales of vacuum packaging in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
  • Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25leading and prominent companies in the market.
What is the vacuum packaging market growth? The global vacuum packaging market is projected to grow at a CAGR of 5.6%, during the forecast period. Which material segment dominated the global vacuum packaging market? In 2021, PE accounted for the largest market share of 40.7% in the global vacuum packaging market. Which pack is the fastest-growing segment in the vacuum packaging market? The flexible segment is projected to grow at a CAGR of 6.1% from 2022-2030. Which region accounted for the largest vacuum packaging market? Asia Pacific dominated the vacuum packaging market and accounted for the largest revenue share of over 34.0% in 2021. Who are the key players in the vacuum packaging market? The leading manufacturers of vacuum packaging in the global market include Sealed Air Corporation, Bemis Company, Inc., ULMA Packaging, CVP Systems, Inc., Linpac Packaging Limited, Multisorb Technologies, Inc., Berry Plastics Corporation, Orics Industries, Inc., and Coveris Holdings S.A. What are the factors driving the vacuum packaging market? Key factors that are driving the vacuum packaging market growth include increased demand for high barrier plastics, growing demand for lightweight packaging, and the rising demand for eco-friendly vacuum packaging.

Frequently Asked Questions

  • Key Issues Addressed
  • What is the market size and growth rate for different segmentations at a global, regional, & country level?
  • What is the customer buying behavior, key takeaways, and Porter's 5 forces of the market?
  • What are the key opportunities and trends for manufacturers involved in the supply chain?
  • What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
  • What and how regulations, schemes, patents, and policies are impacting the growth of the market?
  • How will existing companies adapt to the new change in technology?
  • The market player positioning, top winning strategies by years, company product developments, and launches will be?
  • How has COVID-19 impacted the demand and sales of in the market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
  • Who are the leading companies operating in the market? Also, who are the prominent startups that disrupt the market in coming years?
  • PUBLISHED ON: Dec, 2022
  • BASE YEAR: 2022
  • STUDY PERIOD: 2019-2033
  • COMPANIES COVERED: 15
  • COUNTRIES COVERED: 24
  • NO OF PAGES: 174

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