The global vacuum packaging market is expected to expand at a stellar CAGR throughout the forecast period, 2020-2030.

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Vacuum Packaging Market – Key Drivers and Developments

The demand for vacuum packaging is influenced by growing need for packaged products such as chicken, beef, and pork. As per the World Health Organization (WHO), annual meat production will reach 376 million tonnes by 2030. Further, utilizing polythene vacuum packaging for meat and food products has the potential to minimize food waste by a staggering 75%

The vacuum packaging market is undergoing a huge technological advancement. Innovative and new developments such as light-weight packaging and recyclable packaging are shaping the market landscape. For instance,

• MF Tecno has created ASSISI, a fully automatic, vacuum-module, for large- and medium-size bags up to 40 L volume extending the shelf-life of the product and preserving its functional and organoleptic properties for longer duration.
• Clearly Clean Products LLC has launched vacuum skin packaging trays, which are made up of recyclable plastic.
• Rajendra and Ursula Joshi Food Industries Pvt. Ltd. (Rufil Industries) has introduced paneer (cottage cheese) packed with vacuum packaging to maintain the quality of paneer by restoring its softness and freshness for prolonged duration in contrast to another packaging.

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Vacuum Packaging Market – Growth Restraints

Low processing and production cost as well as abundance of plastic materials such as polyethylene (PE) are enabling their broader adoption in manufacturing vacuum packaging solutions. Excessive usage of such plastics, although recyclable, are posing threat to surroundings and are, thus, facing regulatory stringency. While vacuum packaging improve shelf life of frozen food items, certain bacteria are still able to grow and further contaminate food products. Consequently, agencies such as the Food Standards Agency are increasing their stringency regarding approval of vacuum packaging solutions. Moreover, higher installation costs and frequent maintenance of packaging machines are an existing challenge for vacuum packaging market players.

COVID-19 Impact Analysis

The COVID-19 pandemic will continue to impact the food industry and its supply chains. Increasing at-home consumption due to shelter-in-place orders amid the pandemic is driving consumers to shift from retail foodservice channels to e-commerce platforms. This sudden shift in consumers’ pattern is emerging as a lifeline for vacuum packaging manufacturers.

Amid the COVID-19 crisis, as the requirement for fresh foods increases, ASRS (automated storage and retrieval system) is increasingly used for extensive variety of food products in both the refrigerated and non- refrigerated spaces. This will spur the demand for warehousing facilities, thus offering potential avenues of growth.

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Vacuum Packaging Market – Regional Analysis

Asia Pacific (APAC) will be accounting for leading market share in the global vacuum packaging market, owing to mounting demand for packaged foods in emerging economies such as China, and India as well as increasing production of pharmaceuticals. Studies find that the food packaging market in APAC is poised to grow at a healthy pace in the coming years. Moreover, the region represents the third-largest pharmaceutical industry, primarily driven by generic drugs.  In a similar fashion, Europe and North America will also offer remunerative growth prospects to market players.

Vacuum Packaging Market – Competitive Analysis

Vacuum packaging manufacturers are substantially investing in capacity expansions, new products launches, and, mergers & acquisitions (M&A) to gain a competitive advantage in market competition.

• Berry Global Group Inc. has acquired RPC Group PLC (RPC) to emerge as one of the world’s leading plastic packaging companies and a prominent global manufacturer of value-added protective solutions.
• Mondi Group has developed a completely-recyclable polypropylene (PP) film for thermoforming applications with a 23% decline in carbon footprint in contrast with existing packaging. These recyclable PP films are ideal for vacuum packaging and MAP (modified atmosphere packaging).
• Amcor has acquired Bemis Company Inc. and now work as Amcor PLC (Amcor). This acquisition has led to additional capabilities, scale, and footprint that has strengthened Amcor’s leading business value proposition and rendered noteworthy value for its shareholders. Moreover, Amcor has partnered with Moda to develop novel packaging solutions. The two companies will manufacture Amcor’s roll stock film and shrink bag for cheese and meat utilizing Moda’s packaging system.

Major companies identified in the global market are

• Berry Plastics Corporation
• CVP Systems Inc.
• Linpac Packaging Limited
• Coveris Holding S.A.
• Amcor Group
• Ulma Packaging
• Orics Industries
• Multisorb Technologies Inc.
• Sealed Air Corporation

Region

• North America (U.S., Canada)
• Latin America (Mexico, Brazil)
• Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
• East Asia (China, Japan, South Korea)
• South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
• Oceania (Australia, New Zealand)
• Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

Report Highlights

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Vacuum Packaging Market – Segment Analysis

Vacuum Packaging Market can be segmented on the basis of following,