PUBLISHED DATE : Sep 2020 | Pages : 225
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Vacuum Packaging Market Size, Share, & Trends Analysis Report By Material (Polyethylene (PE), Poly Vinyl Chloride (PVC), Polypropylene (PP), and Others), Pack Type (Flexible, Rigid, and Semi-Rigid), End-user (Food, Pet Food, and Agricultural Produce), and Geography (North America, Europe, APAC, Latin America, and Middle East & Africa), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2025
225 Pages
52 Tables
108 Charts
5 Regions
22 Countries
15 Companies
4 Market Segment
| Report Attribute | Details |
|---|---|
| Market Size (REVENUE) | USD 20 BILLION (2020) |
| CAGR | 5% (2020-2025) |
| Base Year | 2019 |
| Forecast Year | 2020-2025 |
| Market Segments | Material (Polyethylene (PE), Poly Vinyl Chloride (PVC), Polypropylene (PP), and Others), Pack Type (Flexible, Rigid, and Semi-Rigid), End-user (Food, Pet Food, and Agricultural Produce) |
| Geographic Analysis | North America, Europe, APAC, Latin America, and Middle East & Africa |
| Countries Covered | US, Canada, UK, Germany, France, Italy, Spain, Netherlands, China, Japan, South Korea, Australia, India, Brazil, Mexico, Chile, Colombia, Argentina, South Africa, Saudi Arabia, UAE, and Turkey |
The global vacuum packaging market size will reach USD 20 billion in 2020, growing at a CAGR of 5% during 2020-2025. The market has been growing in line with the food products packaging industry. The increase in consumption of processed and packaged food is one of the major driving factors, which is affecting the demand for vacuum packaging materials for food. Ease of handling, convenience, and flexibility have increased the popularity of vacuum-packed food products. The increasing awareness of hygiene is expected to become the consumer’s top priority, thereby aiding the growth of vacuum packing techniques. Moreover, increasing disposable incomes and willingness to spend on safe and hygienic food products is also likely to push the vacuum packaging market growth during the forecast period.
The COVID-19 pandemic has affected several companies across geographies, and the packaging industry seems no exception. Several suppliers have been benefiting from the economic pace that is powering short-term sales growth. Customers have increased the demand for extended shelf life packing due to disruption in the supply chain amid COVID-19 measures. The consumer expenditure on food products has been increased to around 15–20% on grocery dry products since the COVID-19 outbreak.
This research report includes a detailed segmentation by
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 longer duration. However, any price fluctuation in the material is expected to change the overall cost of vacuum packaging. The profit margin in the global PE market is expected to decline due to the slowdown in the Chinese economy.
Poly Vinyl Chloride (PVC) has been considered for food packing to reduce not only the spoilage but also the wear and tear of the packet as the polymer is a thick and strong plastic material. Hence, the growth in the packaged food industry is expected to drive the demand for PVC during the forecast period. Moreover, PVC has high durability, which has made the material important for vacuum packaging. India and China are the leading global exporters of PVC and are expected to dominate the market during the forecast period. The PVC demand has been increased from 30 million tons to 40 million tons in the last 10 years and is expected to grow 50 million tons in 2021.
The food sector consists of around 77% share of the consumer flexible packaging market. The penetration rate of flexible materials is high on account of easy packaging technology trends such as hand-held vacuum sealers, small vacuum packaging machines, and other products. As flexible pouches and other material types are easy to handle while vacuuming, the demand for flexible materials is expected to increase during the forecast period. Vacuum flexible packs are highly suitable for the sous vide method of cooking in restaurants and hotels. Restaurants, hotels, and airlines are major end-users of flexible material.
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. Moreover, the acceptance and popularity of biodegradable rigid plastic is expected to grow in the market. APAC is expected to dominate the segment followed by Europe.
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. The growth in the APAC region is mainly supported by the expected shift of food manufacturing and processing to emerging markets in APAC to cater to the growing demand in the region.
The pet food demand has been growing worldwide, with the global sale reaching around $91 billion in 2018. Pet food and treat sales reached around $36 billion in 2019 and are expected to grow at a healthier rate of 4% in 2020. The key factors driving the vacuum packaging market growth in the pet food category include freshness, long shelf life, and suitable packing with re-sealable properties.
The consumption of seafood and meat in Japan, Australia, the US, and Germany has increased the demand for lightweight, efficient, and convenient vacuum packaging. The growing demand for hygienic and efficient packing with longer shelf life has been the major driver for the APAC market. Strong growth in meat, seafood, and dairy production in APAC has increased the demand for vacuum-packed meat products. However, due to the COVID-19 pandemic, the raw material supply is expected to be disrupted, particularly in 2020, therefore, the vacuum packaging market share in APAC is expected to be affected. However, growing economies such as China, Australia, and India, where the production of vacuum packages is strong, is expected to boost the market during the forecast period.
A vast segment of the vacuum packaging market share is dominated by small and medium enterprises. Larger players have been aggressively adopting an inorganic growth strategy to expand their operations. They have technological strength and high-volume product lines that have helped offset cost variations. Vendors are focusing on customization, as the competition is mainly based on two aspects – features and price. China has a well-established plastics industry and is one of the major exporters of plastic resin. The easy availability of raw materials combined with lower labor costs has helped packaging companies in China survive intense competition.
Segmentation by Material
By Pack
By End-user
By Geography
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