Vacuum Packaging Market Size to Reach Revenues of USD 20 Billion by 2020 - Arizton

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Sep 28, 2020, 11:00 ET

CHICAGO, Sept. 28, 2020 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global vacuum packaging market report.

The global vacuum packaging market is expected to grow at a CAGR of around 5% during the period 2019−2025.

Key Highlights Offered in the Report:

Vacuum packaging is assumed to decrease by material costs by 25% and labor costs by 15%.
Larger players have been aggressively adopting an inorganic growth strategy to expand their operations. They have the technological strength and high-volume product lines to offset cost variations.
The global vacuum packaging market is dominated by APAC, Europe, and North America, which held over a 70% share of the market in 2019. The APAC market is largely volume-driven due to the growing retail landscape, along with organized packaging growth.
By pack type, flexible pack type, held the high share of over 50% in 2019 and is expected to grow at a CAGR of over 6% during the forecast period.
Some parts of Latin America and MEA have huge potential in the vacuum market. However, the production in these countries is estimated to be less than other nations.

Key Offerings:

Market Size & Forecast by Revenue | 2019−2025
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by material, pack type, and end-user
Competitive Landscape – 4 key vendors and 11 other vendors

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Vacuum Packaging Market – Segmentation

Rigid packaging is preferred due to its durability and shelf-ready structure. With the increase in demand for PVC and other rigid polymers, the demand for vacuum rigid types is also expected to grow at a healthier rate. The cost per unit of production of rigid polymers is relatively low, therefore, they are used in vacuum packaging applications in several geographies.
The polyethylene (PE) segment is expected to grow at the highest CAGR during the forecast period. PE is increasing in adoption on account of flexibility, lightweight, strong, cost-effective, and high-quality sealing capability. These polymers have a high moisture resistance, which keeps the vacuum-packed product preserved for a long time.
In response to the growing demand for sustainable packaging for fresh and processed meat and poultry products, the demand for vacuum packaging is expected to grow. The food industry is growing significantly in the APAC region, especially in China and India. The region is expected to significantly boost the food industry for meat and seafood production.

By Material

Polyethylene (PE)
Poly Vinyl Chloride (PVC)
Polypropylene (PP)
Others

By Pack

Flexible
Rigid
Semi-rigid

By End-user

Food
Pet Food
Agricultural Products

Vacuum Packaging Market – Dynamics

High barrier plastics are premium packaging materials that keep moisture, air, and other elements away from the item contained in the vacuum pack. High barrier packaging comes in two different forms, including high barrier films and high barrier shrink vacuum packs. It also includes the usage of many layers of plastic material (majorly PVDC and EVOH) to safeguard the pack from air and moisture. To enhance the shelf-life of the product inside the vacuum pack with rich flavors and aroma, high barrier packaging has been prevalent in the market. High barrier packaging is also growing in demand for both food and non-food product applications. Further, the high barrier structure shows more robust puncture resistance properties, which makes the pack virtually immune to wear and tear.

Key Drivers and Trends fueling Market Growth:

Demand for Lightweight Packaging
Demand for Eco-friendly Vacuum Packaging
Increase in Shelf Life
Increase in E-commerce Industry

Vacuum Packaging Market – Geography

The APAC market is largely volume-driven due to the growing retail landscape, along with organized packaging growth. The organized retail and packaging market have been pushing for advanced packaging techniques to provide quality products that can sustain for a longer duration. North America and Europe are the two regions that have more awareness of advanced packaging technologies and are the first to adopt any new trend. In vacuum packaging, meat, poultry, and seafood packaging are high-potential market drivers, seeing as how their consumption will grow in the forecast period.

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By Geography

North America

US
Canada

Europe

UK
Germany
France
Italy
Spain

APAC

China
Japan
South Korea
Australia
India

Latin America

Brazil
Mexico
Argentina
Chile
Colombia

Middle East & Africa

South Africa
Saudi Arabia
UAE
Egypt
Turkey

Prominent Vendors

Sealed Air
Amcor
Berry Global
Winpak

Other Prominent Vendors

Klöckner Pentaplast
Altibbi
Schur Flexibles
ULMA Packaging
Dupont
Plastissimo Film
Plastopil
PBFY Flexible Packaging
G.Mondini
M&Q Packaging
Swiss Pac
LINPAK

Explore our logistics & packaging profile to know more about the industry.

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About Arizton:

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

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SOURCE Arizton Advisory & Intelligence