The global food vacuum machine market size is projected to grow from USD12.9billion in 2020 to USD 16.4 billion by 2025, recording a compound annual growth rate (CAGR) of 5.0%
NEW YORK, June 8, 2020 /PRNewswire/ -- Rising demand for shelf-stable products to drive the market growth for food vacuum machines.
The global food vacuum machine market size is projected to grow from USD12.9billion in 2020 to USD 16.4 billion by 2025, recording a compound annual growth rate (CAGR) of 5.0% during the forecast period.
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The increasing demand for shelf-stable and ready-to-eat products, along with the shift toward easy-to-handle and convenient packaging is projected to drive the demand for food vacuum machines.In addition, high focus on hygienic packaging solutions, technological advancements, the rise in investments, and new product launches by key players in the food vacuum machine market are projected to present growth opportunities for key players.
However, the high installation cost and frequent maintenance of food vacuum machines hinder the growth of the market.
The chamber vacuum machines segment is projected to dominate the market during the forecast period.
Chamber vacuum machines are further segmented into single and double chamber vacuum machines.These machines are used for small-scale and industrial applications.
The suitability of chamber vacuum machines for both solid and liquid food items is projected to drive their demand. Thus, this segment is projected to dominate the market during the forecast period.
The meat & seafood segment is projected to grow at the highest rate during the forecast period.
Meat & seafood is one of the fastest-growing applications of food vacuum machines.Meat occupies major shelf space in supermarkets and hypermarkets.
This will further result in an increased demand for food vacuum machines for the packaging of meat products to preserve them for a longer time.Thus, the meat & seafood segment is projected to grow at the highest rate during the forecast period.
However, the association of COVID-19 with meat could hinder the growth of this segment.
The Asia Pacific region is projected to dominate the market during the forecast period.
The Asia Pacific region is projected to grow at the highest CAGR between 2020and 2025.The growing economies, coupled with the growing demand for ready-to-eat, packaged, and convenience food, are likely to drive the market growth in Asia Pacific. The lack of cold chain infrastructure in the developing economies of Asia will further drive the need to vacuum-seal food to preserve it, consequently resulting in the demand for food vacuum machines. Countries such as China and India will majorly contribute to the growth of the food vacuum machine market in Asia Pacific.
In-depth interviews were conducted with CXOs, managers, and key executives from various key organizations operating in the food vacuum machine market.
• By Company type: Tier 1: 45%, Tier 2: 30%, and Tier 3: 25%
• By Designation: Managers:55%, CXOs: 30%, and Executives: 15%
• By Region: Asia Pacific: 42%, Europe: 25%, North America: 17%, South America: 8%, and RoW: 8%
The food vacuum machine market comprises major players, such as Ulma Packaging (Spain), Proseal (UK), Multivac (Germany), Electrolux Professional (Sweden), Henkelman (Netherlands), Henkovac International (Netherlands), Promarks (US), Sammic SL (Spain), and Technopack Corporation (US). The study includes an in-depth competitive analysis of these players in the food vacuum machine market, with their company profiles, recent developments, and key market strategies.
Research Coverage
The study covers the food vacuum machine market across segments.It aims at estimating the market size and its growth potential across different segments, such as machinery type, packaging type, process, application, end-use sector, and region.
The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
This report will help market leaders/new entrants with information on the closest approximations of revenue numbers for the overall food vacuum machine market and its subsegments.It will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
The report will also help stakeholders understand the pulse of the market and will provide them with information on key market drivers, restraints, challenges, and opportunities.
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