The ASEAN and Gulf Countries MAP & VSP packaging market is predicted to reach a combined US$ 3,841.0 million worth in 2032, according to a report released by Future Market Insights (FMI).
Modern packaging methods like vacuum skin packing (VSP) and modified atmosphere packaging (MAP) are largely designed to increase the shelf life of perishable goods. Companies in the food and non-food sectors are progressively implementing these approaches throughout ASEAN and the Gulf States in order to reduce waste.
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Recent years have seen a chronic problem with food waste, particularly in some ASEAN nations like Vietnam, Bangladesh, and India. Perishable food items including meat, milk, and dairy frequently spoil in these nations even with traditional packaging because of their warm weather. Businesses that deal in these perishable goods across ASEAN and the Gulf have reported significant losses as a result of food spoilage and waste. Modern, cutting-edge packaging strategies like MAP and VSP can help in this situation.
Although technically distinct, MAP and VSP have a number of advantages. In contrast to conventional packaging, products packaged with MAP and VSP typically have longer shelf life and don’t go bad as quickly. These methods also enable businesses to provide consumers products devoid of preservatives, making those products healthier for consumers than those that do.
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% 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 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 8% between 2022 and 2032.
- By material type, ethylene vinyl alcohol (EVOH) is poised to experience significant demand acceleration at a positive CAGR of 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.
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“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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