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Vacuum Packaging Market Research Report - Global Forecast 2030

Vacuum Packaging Market Research Report: Information by Material Type (Polyethylene, Polypropylene, Polyamide, Ethylene Vinyl Alcohol and others), Process (Skin Vacuum Packaging, Shrink Vacuum Packaging and others), Packaging (Flexible Packaging, Semi-Rigid Packaging and Rigid Packaging), Application (Food, Pharmaceuticals, Industrial Goods and others), Region (North America, Europe, Asia-Pacific, Rest of the World) - Forecast till 2030

ID: MRFR/PNT/1575-CR | July 2019 | Region: Global | 107 pages

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Market overview


The vacuum packaging market growth rate is projected to be 4.90% from the six years spanning 2021 to 2030. The vacuum package market value was USD 25.12 billion last year. It’s projected to be USD 28,452 million in 2030.


When companies use vacuum packaging for their brands they vacuum all of the packagings before they seal it. Vacuum packaging is popular, especially for food brands because it doesn’t permit air to enter the packages. Therefore, it preserves the integrity of the products for a longer period of time. The airtight packaging prevents mold and other pathogens from growing in the products. This does more than preserve brands, it saves lives because mold and pathogens can be deadly.


COVID-19 analysis


Never before has the world seen a virus that is like COVID-19. This virus quickly transformed the way people around the world live, interact with each other, shop, and do business. COVID-19 created a global pandemic that popularized such concepts as remote working, social distancing, and social distancing, among other things.


This novel virus also forced temporary lockdowns and quarantines around the world last year. These didn’t last long. Unfortunately, the same could not be said about global business and industry. These quarantines and lockdowns resulted in a decrease in demand for various goods. The reason was that people were working and living indoors because they didn’t want to risk being exposed to COVID-19. Many businesses were forced to close their doors permanently because of the pandemic.


The companies in the global vacuum packaging industry, amazingly enough, benefitted from the pandemic. People demanded that their brands and products be packaged in sanitary and sterile conditions as possible. Thus, they wanted their products to be packaged in vacuum packaging.


Competitive landscape


The global vacuum packaging industry has a high growth rate. Many companies see that they can make a lot of money in it. These two factors are attracting many companies. Most larger companies find that the market has few barriers to entry. They’re entering the industry at a record pace. All of this makes the global vacuum packaging industry extremely competitive.


Companies find that they have to invest heavily in research and development, merge with and acquire other successful companies, or enter into strategic partnerships with these types of companies.


DuPont de Nemours Inc is a major American player in the global vacuum packaging market. It developed this position by creating a sustainable competitive advantage through extensive investments in research and development.


List of companies



  • DuPont de Nemours, Inc. (US),

  • Mondi (Austria),

  • Amcor PLC (Australia),

  • Berry Global Inc. (US),

  • Sealed Air (US),

  • COVERIS (US),

  • Klöckner Pentaplast (Germany),

  • Winpak Ltd (Canada), and

  • Green Packaging Material (Jiangyin) Co., Ltd (China).

  • US Packaging & Wrapping LLC (US),

  • Sealer Sales, Inc. (US),

  • Collinsons Vacuum Packaging Pty Ltd (Australia),

  • Wells Can Company (Canada),

  • Kite Packaging Ltd (UK), and

  • STEWART'S PACKAGING (US)


Market dynamics


Drivers


This world is rapidly industrializing, developing, and urbanizing. All of this creates a health-conscious global society that is constantly on the move. These people want to make sure that the products that they buy are sanitary and sterile. They know that one way of ensuring this is if companies package their brands in vacuum packaging. This is one key factor that’s driving growth in the global vacuum packaging market.


People in developed and developing countries work much more than their parents used to. Thus, they have neither the time nor desire to cook, but they still need to eat. These people have found the perfect solution in ready-to-eat foods. This is another factor that’s driving growth in the global vacuum packaging market.


People around the world also want to eat frozen foods like TV dinners which can be easily reheated and still taste good. These products need vacuum packaging. This is another growth driver in the vacuum packaging market.


Opportunities


Companies are seeing that there’s real money to be made in the vacuum packaging market. That’s why they’re pouring billions into research and development. For example, the Indian food giant Rufil Industries introduced a new brand of paneer to the market in 2019. This brand used vacuum packaging to keep the paneer frozen and hence safer to eat once heated up. Incidentally, the vacuum packaging helps keep the paneer fresher and softer once it’s heated up.


Restraints


Many hospitals use vacuum packaging to (not surprisingly) keep their medical equipment sterile. There is a problem though and this lies in the fact that all bacteria can’t be killed. Thus, they can still grow on the surface of the equipment and medicines that are in the airtight packaging. This is a major factor that’s holding growth back in the global vacuum packaging market.


Another key restraining factor is the fact that many governments (especially the UK) have passed stricter regulations on the types of material that can be used in vacuum packaging. The same applies when companies try to recycle this packaging.


Challenges


Foods that are packaged in vacuum packaging can still grow botulism. This is a pathogen that can be deadly if consumed. Thus, companies in the vacuum packaging industry are constantly investing more in research and development to develop and use packaging that permits as few deadly pathogens to grow on and in the products as possible.


Cumulative growth analysis


The vacuum packaging market growth rate is projected to be 4.97% from the six years spanning 2019 to 2025. The vacuum package market value was USD 25.12 billion last year. It’s projected to be USD 32.41 billion in 2025.


Technology analysis


COVERIS is a  major American player in the global vacuum packaging industry. This company has managed to become one of the more dominant companies by investing heavily in research and development. Thus, it was able to develop and use superior packaging that allowed fewer potentially deadly pathogens to grow on the products that it (the packaging) housed.


Segment overview


By material type


The following sub-segments are in the main material type segment:



  • Polyethylene

  • Polypropylene

  • Polyamide

  • Ethylene-vinyl alcohol

  • Others


The polyethylene had the largest vacuum packaging market share. This was because it’s economical. Hence, many companies prefer to use it. It should be noted that polyethylene also has the highest growth rate in the materials segment for the time period that this report covers.


Polyethylene is a plastic that’s as familiar to companies and the general public as Aspirin and Coke are.


By process


This segment has the following groupings:



  • Skin vacuum packaging

  • Shrink vacuum packaging

  • Others


Skin vacuum packaging is expected to have the highest CAGR for the time period that this report covers. The reason for this is that this type of packaging lasts longer, hence companies are more inclined to use it. Companies that make and process dry foods like cheese, cereal, and nuts use this type of packaging.


By packaging


The packaging segment has the following categories:



  • Rigid packaging

  • Flexible packaging

  • Semi-rigid packaging


Flexible packaging had the highest vacuum packaging market share three years ago. The reason why it’s growing so rapidly is that more and more people around the world want to eat processed foods. People are more mobile and they have a lot less time. This is another factor that’s driving growth.


By application


This segment is further categorized as:



  • Food

  • Pharmaceuticals

  • Industrial goods

  • Others


Food had the highest vacuum packaging market share as of three years ago. This sub-segment is also expected to have the highest CAGR for the time period that this report covers.


Regional analysis


The global vacuum packaging market can be grouped into the following regions:



  • North America

  • The European Union

  • Asia-Pacific

  • The rest of the world


The Asia-Pacific region has the largest vacuum packaging market share. The European Union and North America come in second and third place respectively. Many people are immigrating to North America. The immigrants want ethnic foods that may not readily be available where they live. Hence, the demand for frozen and processed foods is increasing.


More people are eating meat around the world. The masses are getting richer faster in the developing world and wealthier people want to eat more meat. Well, meat needs to be packaged in vacuum packaging to stay sterile enough for safe consumption when finally cooked.


North America is home to some of the largest companies in the vacuum packaging industry. This is part of what explains why this region has respectable growth.


Industry News



  • In July 2019, Berry Global Group, Inc., announced that it had acquired of RPC Group PLC (RPC) for a purchase price of approximately USD 6.5 billion. Berry and RPC together created a leading global supplier of value-added protective solutions and one of the world’s largest plastic packaging companies.



  • In June 2019, Mondi Group developed a fully-recyclable polypropylene film for thermoforming applications with a 23% reduction in carbon footprint compared to existing packaging. This recyclable polypropylene film is ideal for modified atmosphere packaging (MAP) and vacuum packaging, which is known for its ability to extend the shelf life of products such as meat and cheese.



  • In June 2019, Amcor acquired Bemis Company Inc. The companies now operate as Amcor PLC (Amcor). This acquisition has led to additional scale, capabilities, and footprint that strengthened Amcor’s industry-leading value proposition and generated significant value for shareholders.



  • In October 2018, Coveris introduced a recyclable vacuum skinboard tray, a new packaging format for the fresh protein sector. This innovation combines sustainable sourcing, plastics reduction, and improved recyclability for delivering a fully-circular pack format in support of both the retailer and packaging manufacturers. Its new vacuum skinboard (VSB) format delivers a major environmental saving through the reduction of more than 50% of plastic, removing more than 50 tons of this from consumer waste streams annually.


Report overview


The vacuum packaging market growth rate is projected to be 4.97% from the six years spanning 2019 to 2025. The vacuum package market value was USD 25.12 billion last year. It’s projected to be USD 32.41 billion in 2025.


The Asia-Pacific region has the highest vacuum packaging market growth rate. The European Union and North America follow. What accounts for this is the fact that people are becoming more mobile and hence demanding frozen and ready-to-eat foods. The demand for meat is also accounting for this.



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 28,452 million
  CAGR   4.90% CAGR (2022-2030)
  Base Year   2021
  Forecast Period    2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Material Type, Process, Packaging, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   DuPont de Nemours, Inc. (US), Mondi (Austria), Amcor PLC (Australia), Berry Global Inc. (US), Sealed Air (US), COVERIS (US), Klöckner Pentaplast (Germany), Winpak Ltd (Canada), and Green Packaging Material (Jiangyin) Co., Ltd (China), US Packaging & Wrapping LLC (US), Sealer Sales, Inc. (US), Collinsons Vacuum Packaging Pty Ltd (Australia), Wells Can Company (Canada), Kite Packaging Ltd (UK), and STEWART'S PACKAGING (US)
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers

  • Increased consumption of processed food & beverages
  • Rapid urbanization and industrialization
  • Increased standard of living
  • Increased government policies regarding food safety


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    Frequently Asked Questions (FAQ) :

    The market growth rate in the years ahead can be 4.90%.

    The global market can reach a valuation of USD 28,452 million by 2030.

    The listed companies in the report are COVERIS (US), Amcor PLC (Australia), Berry Global Inc. (US), Winpak Ltd (Canada), DuPont de Nemours, Inc. (US), Green Packaging Material (Jiangyin) Co. Ltd (China), Sealed Air (US), Mondi (Austria), Klöckner Pentaplast (Germany), and others.

    The market is driven by rising consumption of processed food & beverages, increasing urbanization as well as industrialization, surging standard of living, and increasing number of government policies with regard to food safety.

    APAC is postulated to procure the leading position in the market.

    It’s light, easy to carry around, and keeps food sterile and fresh for longer

    Research and development, mergers and acquisitions, and strategic partnerships