Vacuum Packaging Market to grow by USD 6.64 billion from 2022 to 2027 | Amcor Plc, Dow Chemical Co., Filtration Group Corp., among key companies- Technavio

NEW YORK, Sept. 26, 2023 /PRNewswire/ -- The vacuum packaging market is expected to grow by USD 6.64 billion from 2022 to 2027. In addition, the growth momentum of the market will progress at a CAGR of 4.03% during the forecast period, according to Technavio. Increasing awareness about food safety and hygiene is notably driving the vacuum packaging market. However, factors such as stringent regulation on plastics may impede market growth. The market is segmented by material (polyethylene, polyamide, EVOH, and others), end-user (food, healthcare and pharmaceutical, industrial, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America). We provide a detailed analysis of 20 companies operating in the vacuum packaging market including Amcor Plc, Dow Chemical Co., Filtration Group Corp., GRUPO ULMA S. COOP, Henkelman BV, ILAPAK International S.A., Ishida Co. Ltd., KP Holding GmbH and Co. KG, Minipack International Pty Ltd., Mondi plc, MULTIVAC Sepp Haggenmuller SE and Co. KG, PAC Machinery, Plastopil Hazorea Co. Ltd., Promarks Vac Co. Ltd., Sealed Air Corp., SencorpWhite, Smurfit Kappa Group, The Vacuum Pouch Co. Ltd., WEBOMATIC Maschinenfabrik GmbH, and Winpak Ltd. The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request Free Sample Report.

Vacuum Packaging Market 2023-2027: Company Analysis

• Amcor Plc - The company offers vacuum packaging for bags and pouches under the brand Ecoguard.

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Vacuum Packaging Market 2023-2027: Segmentation

Material

• The polyethylene segment is estimated to witness significant growth during the forecast period. In the vacuum packaging market, this polyethylene segment has an important role to play. This flexible and extensively used material has several useful characteristics to meet the needs of different packaging applications. Furthermore, the strong barrier characteristics are one of the key advantages of PE. Polyethylene offers a clear view of the contents of the package, so consumers can see clearly what is in it. Clear PE film ensures that packages are designed to enhance the product's visual appearance and attract prospective customers. Additionally, PE is very lightweight, which helps reduce shipping costs and minimize carbon emissions. Its low density allows the creation of thin films without compromising product protection. Integrating PE into vacuum packaging solutions is especially beneficial for e-commerce businesses that prioritize efficient shipping and environmental sustainability. Hence, these factors are expected to drive segment growth during the forecast period.

Geography 

• APAC is estimated to contribute 39% to the growth of the global market during the forecast period. The main contributors to the region's vacuum packaging market are countries like China, India, and Japan. The demand for vacuum packaging is on the rise in this region, given that several countries are experiencing rapidly developing economies and increasing urbanization. Some factors, such as a change in consumer preferences, developments in packaging technologies, and increased awareness about food safety and hygiene, may be attributed to this trend. Changing consumer preference for convenience and ready-prepared meals is a key driver of the vacuum packaging market in the region. With more people in the region leading busy lives, there is an increased demand for foods available on the go or at home that are easy to prepare. With vacuum packaging, such products are maintained in a state of freshness and extend the shelf life to attract consumers. Hence, these factors are expected to drive market growth in the region during the forecast period.

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Vacuum Packaging Market 2023-2027: Key Highlights

• Historic Market Size 2017-2021
• CAGR of the market during 2023-2027
• Detailed information on factors that will assist vacuum packaging market growth during the next five years
• Estimation of the vacuum packaging market size and its contribution to the parent market
• Forecasts on upcoming trends and changes in consumer behavior
• The growth of the vacuum packaging market
• Analysis of the competitive landscape and detailed information on companies
• Comprehensive details of factors that will impede the growth of vacuum packaging market companies

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Material

Market Segmentation by End-User

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio