Global Vacuum Packaging Market: Overview
Oxygen in the air speeds up the chemical breakdown as well as microbial spoilage of several food products. To augment the shelf life of these products, scientists have developed a technique called vacuum packaging. Vacuum packaging refers to a method of packaging wherein the air is completely removed from a package before its sealing. It serves the purpose of preserving dry food for a long period of time by removing contact with oxygen by pulling the material used for packaging in close contact with the item.
The advent of smart packaging technology will have a direct bearing on the expansion of vacuum packaging market globally, as the technique monitors quality and freshness of food, ensuring safety. Consequently, the global vacuum packaging market is sure to grow at a quick pace over the forecast period.
Global Vacuum Packaging Market: Growth Factors
Numerous technological advancements in the packaging industry are expected to be a major driver of the market for vacuum packaging market. For instance, in October 2020, with a view to boost sustainability and optimize quality, while also improving taste and texture of the product, Sealed Air came up with a new soft vacuum packaging system. The recently introduced methods such as recyclable packaging and light-weight packaging are expected to contribute toward the growth of the vacuum packaging market over the forthcoming period.
The food and beverage industry is witnessing an upsurge in the recent times of the pandemic, as the consumers prefer at-home delivery of grocery and packaged foods. Using polythene vacuum packaging for frozen food products such as frozen meat, poultry, and fish can reduce wastage by a whopping 75% and hence the technology is receiving rising popularity. This is responsible for the spiraling growth of the global vacuum packaging market.
The utilization of plastic in vacuum packaging is widespread as it is readily available and cheaper as compared to other materials. Excessive use of this material poses a hazard to the environment. The large number of regulations aiming to protect the environment can nip the growth of the market in the bud. Another chief impediment can be high costs of installation and maintenance of the machinery required for vacuum packaging.
Global Vacuum Packaging Market: Segmentation
The global vacuum packaging market is segmented on the basis of type, packaging material used, application, process, machinery type, and region. Flexible vacuum packaging, semi-rigid vacuum packaging, and rigid vacuum packaging are the main segments by type. By material, the global market for vacuum packaging has been segmented into polyamide, polyethylene, ethylene vinyl alcohol, polypropylene, polyvinyl chloride, polyester, and paper. Food & beverages, industrial goods, and pharmaceuticals are some important application segments of the global vacuum packaging market. The pharmaceutical segment is expected to register a high percentage of market shares. The growth of the pharmaceutical segment can be attributed to the need for excessive precaution in packing medicines. Pharmaceuticals and sterile medical goods such as free-flowing and powdery products need to be vacuum packed to ensure that weather conditions do not affect the product as exposure to moisture might prove fatal to the consumer.
In terms of the type of machinery involved in the process, the market for vacuum packaging is categorized into external vacuum sealers, tray-sealing machines, thermoformers, mini vacuum machines, and vacuum chamber machines.
Global Vacuum Packaging Market: Regional Analysis
In the last few years, the Asia Pacific region led the market for vacuum packaging, with Europe and North America close behind. In Europe, the deployment of smart packaging, increasing demand for dairy products, and growing use of high barrier plastics are the key growth drivers, propelling the Europe vacuum packaging market toward growth.
Emerging economies such as India are poised for considerable expansion as Covid-19 resulted in a shift from retail to e-commerce. The high density of population in China and India will ensure that the demand for refrigerated and non-refrigerated packaged food escalates to a higher degree, assuring stable growth of the Asia Pacific vacuum packaging market. The Asia Pacific region also consists of countries wherein the pharmaceutical sector is progressing at a rapid rate. The production of generic drugs in Asia Pacific is substantially high, and this might offer further opportunities for the growth of the vacuum packaging market.
Global Vacuum Packaging Market: Competitive Players
Sealed Air Corporation, Ulma Packaging, Amcor Limited, Berry Plastics Corporation, Coveris Holding SA, Bemis Company Inc.,Orics Industries, Inc., CVP Systems, Inc., Linpac Packaging Limited, SCOOP, and Multisorb Technologies Inc. are some foremost competitive players in the global vacuum packaging market.
Global Vacuum Packaging Market: Regional Segment Analysis
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