The report on global vacuum packaging market provides qualitative and quantitative analysis for the period of 2015 to 2023. According to the report the global vacuum packaging market is projected to reach USD 21.8 billion by 2023, growing with a CAGR between 4.3% to 5.2% from 2017 to 2023. The global vacuum packaging market was worth USD 15 billion in 2015.
Figure 1: Global Vacuum Packaging Market Projection
The report identified that the global vacuum packaging market is driven by factors such as, growing demand for hygienic packaging of food, manufacturers’ demand for a longer shelf-life and shift towards easy-to-handle and convenient packaging. On the other hand, the restraining factors identified in the study include high cost of development.
Rising population, along with high disposable income and the demand for safe & hygienic packaging of products are likely to stimulate market growth and provide opportunity for major players in the emerging and developing economies. Constant innovation and un-regularized markets in most countries are some of the challenges for the major players to expand further during the forecast period.
The vacuum packaging market is segmented on the basis of material, application, and pack. The segmentation on the basis of material covers polyethylene (PE), polyvinylidenchloride (PVDC), polypropylene (PP), polyvinylchloride (PVC), and polyester (PET). On the basis of application the market is segmented as food, pharmaceuticals, industrial processing, industrial goods, consumer goods, and others. Furthermore, on the basis of pack the vacuum packaging market is segmented as rigid packaging, flexible packaging, and semi-rigid packaging.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2017 – 2023.
Figure 2: Global Vacuum Packaging Market by Region
Europe is the key consumer of vacuum packaging in the global market. As of 2015, this region accounted for about 32.1% share in the global market. North America emerged as the second largest shareholder of the global market followed by Asia-Pacific. Markets in North America and Asia Pacific are highly regulated and are likely to create a substantial demand for vacuum packaging. Furthermore North America is expected to grow at the highest CAGR of 5.3% over the forecast period.
The companies covered in the report include Amcor Limited, Bemis Company, Inc., Berry Plastics Corporation, Sealed Air Corporation, Coveris Holdings S.A., CVP Systems, Inc., Linpac Packaging Limited, Multisorb Technologies, Inc, ULMA Packaging, S.Coop, Orics Industries, Inc.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of vacuum packaging globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of vacuum packaging.
Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the global vacuum packaging market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the global vacuum packaging market to understand the present and future trends in this market and formulate their strategies accordingly.
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