Global Vacuum Packaging Market Report: Material (Polyethylene (PE), and Polyamide (PA)), Packaging (Rigid Packaging, Flexible Packaging, and Semi-Rigid Packaging), Application (Pharmaceutical, Food, Industrial, and Consumer Goods) and By Region – Global Forecast to 2023.
Vacuum Packaging MarketKey Players:
E. I. duPont de Nemours and Company (U.S.), Bernis Company Inc.(U.S.), Amcor Ltd. (Australia), Berry Plastic Corp. (U.S.), Linpack Packaging Ltd. (U.K.), Sealed Air Corp. (U.S.), Coveris Holdings (Luxembourg), Winpak, and Green Packaging Material (Jiangyin) Co., Ltd. (China). and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Vaccum Packaging Market.
Global vacuum packaging market is expected to grow at a CAGR of ~ 4.89% during the forecast period.
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Vacuum Packaging Market Scenario:
The global vacuum packaging market has been segmented based on material, packaging, application, and region. Based on the material the market is segmented into Polyethylene (PE), and Polyamide (PA). Among these, the polyethylene segment dominated the global vacuum packaging market with 49.23% of share in 2016, in terms of value.
It is expected to show the highest growth at a CAGR of 5.10% during the forecast period. The dominant position of this segment can be attributed to the rising implementation of polyethylene material of vacuum packaging across all the end use application. Moreover, polyethylene is the most common plastic used in daily life activity.
Based on the packaging, the market is segmented into rigid packaging, flexible packaging, and semi-rigid packaging. The flexible packaging segment dominated the global vacuum packaging market with 42.56% of share in 2016, in terms of value. It is expected to grow at a CAGR of 5.39% during the forecast period. Flexible packaging is made of the plastic films, graphics, ply and sealed mostly with pressure and heat, they have a wide application in food & beverage packaging.
Based on the application, the market is segmented into pharmaceutical, food, industrial, consumer goods, and others. The food segment dominated the global vacuum packaging market with 31.69% of share in 2016, in terms of value.
It is expected to grow at a CAGR of 5.16% during the forecast period. The Vacuum packing in the food sector is predominantly used to store dry foods over a long period of time, which includes cereals, nuts, cured meats, cheese, smoked fish, coffee, and potato chips. On a more short-term basis, it can also be used to store fresh foods such as vegetables and meats as it hinders the bacterial growth.
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Vacuum Packaging Market – Segmentation
The Global Vacuum Packaging Market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Product Material: Comprises PE, PA, and others.
Segmentation by Packaging: Comprises Rigid Packaging, Flexible Packaging, and Semi-Rigid Packaging
Segmentation by Application: Comprises Pharmaceutical, Food, Industrial, Consumer Goods, and Others
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Vacuum Packaging Market: Regional Analysis
Asia pacific is referred as the largest & fastest growing market for vacuum packaging, followed by Europe & North America. Increasing population, rising packaged & convenience food demand, healthcare expenditure is driving the market in Asia-Pacific region. Moreover, rapid industrialization in China and India expected to propel the regional market in the forecast period. Furthermore, growing healthcare sector is expected to propel the pharmaceutical packaging demand in the region.
Whereas, Europe is referred as second largest market in terms of revenue. Factors such as emergence of eco-friendly packaging technologies, which are inexpensive and manufactured from recycled material are driving the market in Europe.