According to a report by Future Market Insights (FMI), the combined ASEAN and Gulf Countries MAP & VSP packaging market is projected to reach a valuation of US$ 3,841.0 million by 2032. Modified atmosphere packaging (MAP) and Vacuum skin packaging (VSP) are advanced packaging techniques that aim to extend the shelf life of perishable products. Companies in both the food and non-food sectors across ASEAN and Gulf Countries are increasingly adopting these techniques to reduce waste.
Food waste has been a significant issue in several ASEAN countries like India, Bangladesh, and Vietnam, particularly due to warm climates. Even with traditional packaging methods, perishable food products such as meat, milk, and dairy tend to spoil quickly in these regions. Companies dealing with these perishable products in ASEAN and Gulf Countries have suffered significant losses due to food spoilage and waste. MAP and VSP packaging techniques can help address these challenges.
Although MAP and VSP are technically different, they offer similar benefits. Products packaged using these techniques have extended shelf lives compared to conventional packaging, reducing spoilage. Additionally, these techniques allow companies to provide products without the use of preservatives, making them more beneficial for consumers’ health.
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The report highlights that the market for MAP & VSP packaging in Saudi Arabia is expected to experience significant growth between 2022 and 2032. The economic strength of Saudi Arabia enables the adoption of MAP & VSP packaging without financial concerns. By 2032, the Saudi Arabia market is projected to account for a 34.8% share of the Gulf Countries market for MAP & VSP packaging. Other markets in ASEAN and Gulf Countries, such as Vietnam, Indonesia, Thailand, Oman, and the United Arab Emirates, are also expected to provide lucrative opportunities for market players between 2022 and 2032.
Overall, the adoption of MAP and VSP packaging techniques in ASEAN and Gulf Countries is driven by the need to reduce food waste and extend the shelf life of perishable products. These modern packaging techniques offer several advantages and are expected to witness significant growth in various markets within the region.
Key Takeaways from the ASEAN and Gulf Countries MAP & VSP Packaging Market Report
- ASEAN MAP & VSP packaging market was estimated to register a valuation of US$ 1,582.6 million in 2022.
- Between 2022 and 2032, a steady 5.5% CAGR is anticipated to take the ASEAN market’s valuation up to US$ 2,711.0 million in 2032.
- From 2017 to 2021, slow and sluggish CAGRs of 3.7% and 3.4% were observed for the ASEAN and Gulf Countries markets respectively.
- Vietnam market for MAP & VSP packaging is slated for healthy acceleration at a CAGR of 6.8% between 2022 and 2032.
- By material type, ethylene vinyl alcohol (EVOH) is poised to experience significant demand acceleration at a positive CAGR of 6.1% from 2022 to 2032.
- By technology, VSP is set to outperform MAP in terms of sales across ASEAN and Gulf Countries between 2022 and 2032.
“Despite the rising popularity of MAP and VSP among companies dealing in perishable goods and products, the fact is that they do not completely guarantee lack of spoilage. Once MAP and VSP packaging is unpackaged, they are not effective anymore in terms of keeping products fresh. This is why market players are likely to improve their MAP and VSP packaging solutions for optimal spoilage reduction.” Says an FMI analyst.
Who is Winning?
According to FMI’s comprehensive report, both established and emerging market players are focused on improving their MAP and VSP packaging solutions. Owing to rising demand for these packaging techniques, players are expected to expand their facilities and enter into strategic collaborations and partnerships. Hefty research & development investments are also likely.
Mondi Group Plc, Berry Global Inc., Sealed Air Corporation, Swiss Pack Europe, Klöckner Pentaplast Group, Amcor plc, Plastissimo Film Co., Ltd., Luban Pack, Al Borj Plastic Industries, VACUUM BAGS SARL, NARAI PACKAGING (THAILAND) LTD., IMPERIAL PACKAGING AND PLASTICS SDN BHD, FRAGSTAR CORPORATION SDN. BHD., SOLOS POLYMERS PVT. LTD., Vishakha Polyfab Pvt Ltd., and Napco National are the key players operating in the ASEAN and Gulf Countries MAP & VSP packaging market.
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ASEAN and Gulf Countries MAP & VSP Packaging Market Outlook by Category
By Material Type:
- Polyethylene (PE)
- HDPE
- LDPE
- LLDPE
- Polypropylene (PP)
- Polyamide (PA)
- Ethylene Vinyl Alcohol (EVOH)
- Polyethylene terephthalate (PET)
By Product Type:
- Pouches & Bags
- Films
By Film Structure:
- Monolayer
- 3 Layers
- 5 Layers
- 7 Layers
- More than 7 Layers
By Technology:
- Modified Atmosphere Packaging (MAP)
- Vacuum Skin Packaging (VSP)
By End Use:
- Food
- Convenience Food – RTE – Ready to Eat and RTC – Ready to Cook
- Bakery
- Snacks & Confectionary
- Pet Food
- Breakfast and Cereals
- Sauces and Condiments
- Grain & Cereals
- Flavors and Fragrances
- Meat Products
- Fish Products
- Dairy
- Non-Food
By Country:
- ASEAN
- Gulf Countries
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