Vacuum Packaging Market Forecasts to 2028 - Global Analysis By Process, Packaging Material, Machinery, Pack Type, Product, Application and By Geography

According to Stratistics MRC, the Global Vacuum Packaging Market is accounted for $28.29 billion in 2022 and is expected to reach $40.43 billion by 2028 growing at a CAGR of 6.13% during the forecast period. Vacuum packing is the process of eliminating air from a pack before it is sealed with the goal of removing oxygen by bringing the packaging material into close contact with the product. Additionally, it helps cured meat products by creating an environment that can keep other qualities at a respectable level while extending the colour of the meat before fading. It is a frequently used method for distributing fresh meat cuts, boneless meat, and processed meat products, as well as for long-term preservation.

According to the International Monetary Fund, the population in the US was 327.4 million in 2018 and is projected to reach 341 million in 2024. According to the US Department of Labor, in 2018, there were 28.2 million foreign-born persons in the US labor force as compared to 27.4 million foreign-born persons in the US labor force in 2017. According to the US Department of Agriculture and Economic Research Service, in 2018, the consumption of red meat in the US amounted to 109.3 pounds per capita and is expected to rise to 113.8 pounds per capita.

Market Dynamics:

Driver:

Increasing demand for polyamide in packaging industry

The ability of polyamide to produce films with great clarity, adaptability, powerful thermoforming ability, and moderate shrinkage qualities makes it a popular material in the vacuum packaging sector. For the creation of flexible packaging films, polyamide is frequently mixed with polyolefin as a multilayer structural element. Both semi crystals and polymers are renowned for their hardness. Polyamide 66 is recognised for other qualities like resistance to abrasion and high-temperature heat deflection, whereas polyamide 6 is known for rigidity. Polyolefins are co-extruded with nylons to increase heat seal-ability and act as a moisture barrier while lowering costs.

Restraint:

Stringent regulations

Widespread use of plastic materials like polyethylene (PE) in vacuum packing solutions is made possible by their abundance, low production and manufacturing expenses, and low cost of production. Even though these plastics are recyclable, excessive use of them puts the environment in danger and is therefore subject to strict regulation. The shelf life of frozen food items is extended by vacuum packaging, yet germs can still grow on food products and cause further contamination. The Food Standards Agency and other organisations are becoming more stringent about accepting vacuum packaging options.

Opportunity:

Increasing demand for vacuum packaging in the medical sector

Hospitals, healthcare facilities, and other medical settings employ vacuum packaging because it saves time, money, and extends the shelf life of the product. Vacuum packaging is used to ensure that medicines are not affected by any type of external temperature or climate. Similar to vacuum sealing food, sealing medical supplies will eliminate any bacteria that come into touch with them and prevent the spread of further bacteria before the box is opened. Medical objects may also be sterilised when they are vacuum sealed and packed using a variety of techniques. Therefore, it is anticipated that demand for vacuum packaging will increase in the future due to the growing popularity of medical products.

Threat:

Unfavourable consumer perceptions

Consumer perception of specific food products is one of the main issues with the integration of vacuum packing in the food business. Consumers of meat products are accustomed to certain colour cues and anaerobic environments. Vacuum packaging alters the transient appearance of meat products in an unfavourable way, which reduces their attraction to customers. Thus, these factors are hampering the market growth over the forecast period.

COVID-19 Impact:

A virus like COVID-19 has never been seen before in history. This virus drastically altered how people live, interact, and conduct business throughout the world. Remote employment, social distance, and other ideas became widely accepted as a result of the global epidemic that COVID-19 sparked. Additionally, temporary lockdowns and quarantines were prompted by this novel virus last year all over the world. There was less demand for a variety of items as a result of these quarantines and lockdowns. Due to the pandemic, many businesses had to permanently close their doors. Surprisingly, the epidemic was advantageous to the global vacuum packaging sector. They desired vacuum wrapping for their goods as a result.

The polyethylene segment is expected to be the largest during the forecast period

The polyethylene segment is estimated to have a lucrative growth. Polyethylene is preferred by manufacturers over alternative packaging materials because of its low production and processing costs. Polyethylene can be soft and malleable or hard and solid. In the vacuum packaging sector, a variety of products is packaged and stored using soft, flexible films. Polyethylene also offers the basic packaging polymers with the lowest softening point.

The food segment is expected to have the highest CAGR during the forecast period

The food segment is anticipated to witness the highest CAGR growth during the forecast period, due to the growing knowledge that improperly wrapped packing materials can cause chemical contamination and the growing health consciousness of consumers, there is an increased need for hygiene packaging. As a result of protecting food goods from atmospheric gas and extending their shelf life, vacuum packing is anticipated to become more and more necessary.

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to rising pharmaceutical manufacturing as well as rising demand for packaged food in developing nations including the U.S., Canada, and Mexico. Therefore, effective packaging that provides protection against bacterial growth, resists it, and lengthens the product's shelf life is needed for these packaged foods. Additionally, the region has seen a continued rise in meat consumption.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to a rise in the demand for packaged food products, a rise in the export of meat and meat products, and a rise in the attention paid to practical and affordable packaging options. Due to people in the region's busy lifestyles and rising disposable income, there is likely to be a rapid rise in the consumption of frozen food, on-the-go meals and nutritious packaged food, which will further boost the need for vacuum packaging in the Asia-Pacific region.

Key players in the market:

Some of the key players profiled in the Vacuum Packaging Market include Berry Plastics Corporation, Ulma Packaging, Multisorb Technologies, Inc., Amcor Limited, Orics Industries, Inc., Coveris Holdings SA, Sealed Air Corporation, Bemis Company, Inc., SCOOP, Linpac Packaging Limited, CVP Systems Inc. and Mondi Group.

Key Developments:

In July 2019, Berry Global Group, Inc., announced that it had acquired of RPC Group PLC (RPC) for a purchase price of approximately USD 6.5 billion. Berry and RPC together created a leading global supplier of value-added protective solutions and one of the world's largest plastic packaging companies.

In June 2019, Amcor acquired Bemis Company Inc. The companies now operate as Amcor PLC (Amcor). This acquisition has led to additional scale, capabilities, and footprint that strengthened Amcor's industry-leading value proposition and generated significant value for shareholders.

In June 2019, Mondi Group developed a fully-recyclable polypropylene film for thermoforming applications with a 23% reduction in carbon footprint compared to existing packaging. This recyclable polypropylene film is ideal for modified atmosphere packaging (MAP) and vacuum packaging, which is known for its ability to extend the shelf life of products such as meat and cheese.

In October 2018, Coveris introduced a recyclable vacuum skinboard tray, a new packaging format for the fresh protein sector. This innovation combines sustainable sourcing, plastics reduction, and improved recyclability for delivering a fully-circular pack format in support of both the retailer and packaging manufacturers.

Processes Covered:

• Shrink Vacuum Packaging
• Skin Vacuum Packaging

Packaging Materials Covered:

• Ethylene Vinyl Alcohol
• Polyethylene
• Polyamide
• Other Packaging Materials

Machineries Covered:

• Tray-sealing Machines
• Thermo-formers
• External Vacuum Sealers
• Other Machineries

Pack Types Covered:

• Semi-rigid Packaging
• Rigid Packaging
• Flexible Packaging

Products Covered:

• Films
• Pouches & Bags
• Other Products

Applications Covered:

• Semi- Industrial Goods
• Food
• Pharmaceuticals
• Electronics
• Consumer Goods
• Other Applications

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances