ID: MRFR/PNT/1993-CR | June 2019 | Region: Global | 93 pages
$33.7 Billion
4.6%
Asia Pacific
2020-2027
The global vacuum skin packaging market is expected to expand at 5.80% CAGR during the forecast period.
The global vacuum skin packaging market is projected to register substantial growth during the forecast period. Asia-Pacific is expected to be the leading region in the vacuum skin packaging market due to the growing population of the region, increasing per capita disposable income, and the need for safe and hygienic packaging methods. Furthermore, the rapid economic growth of countries such as China and India fuelling the vacuum skin packaging market in the region during the forecast period.
In 2017, North America held the second largest market share in the vacuum skin packaging market. It has registered significant growth due to the presence of a number of end-use industries in this region.
The global vacuum skin packaging market is segmented based on material and application. On the basis of material, the global vacuum skin packaging market is segmented into PE, PP, PVC,and others. The PE segment is expected to dominate the global market as this type of plastic is approved by the FDA and health-safety agencies throughout the world. It is a very strong and inert material that does not react with foods, is resistant to attack by micro-organisms, and will not degrade biologically.
On the basis of application, the global vacuum skin packaging market is segmented into meat, poultry, cheese, and others. The meat segment holds the maximum market share. Meat is an animal’s tissue, which is consumed by humans as food. The meat segment comprises beef, pork, mutton, and veal.
The key players operating in the global vacuum skin packaging market are DuPont (US), Amcor Limited (Australia), Sealed Air (US), Berry Global Inc. (US), LINPAC Packaging Limited (UK), Bemis Company Inc. (US), G. Mondini SA (Italy), Green Packaging Material (Jiangyin) Co., Ltd. (China), Plastopil Hazorea Company Ltd. (Israel).
Region-specific analysis of the global vacuum skin packaging market spans across North America, Europe, Asia-Pacific (APAC), and the rest of the world.
Global Vacuum Skin Packaging Market, by Region, 2017
Source: MRFR Analysis
In Asia-Pacific, factors such as the increasing population, rising demand for packaged food items, and rapid industrialization in developing economies are expected to propel the market in the region. Additionally, the rising per capita disposable income and changing preferences and lifestyle of consumers also have a positive influence on the growth of the market in the region. China, India, and Japan are the key countries that contribute significantly to the vacuum skin packaging market in the region. Moreover, many global companies operating in the food industry have set up their factories in developing economies such as China and India. Such factors raise the demand for vacuum skin packaging in the region.
The global vacuum skin packaging market has been segmented based on material, application, and region. On the basis of material, the global market is segmented into PE, PP, PVC,and others. The PE segment is expected to dominate the global vacuum skin packaging market due to its inert properties that do not react with foods. It is also resistant to attack by micro-organisms and will not degrade biologically.
In 2017, Sealed Air introduced its new packaging products Cryovac, OptiDure for fresh red meat as well as for smoked and processed meats. The packaging technology is best fit for ready-to-eat meats that conveniently suit busy lifestyles.
Report Attribute/Metric | Details |
---|---|
Market Size | 2030: Significant Value |
CAGR | 5.80% CAGR (2022-2030) |
Base Year | 2021 |
Forecast Period |  2022 to 2030 |
Historical Data | 2019Â &Â 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Material and Application |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | DuPont (US), Amcor Limited (Australia), Sealed Air (US), Berry Global Inc. (US), LINPAC Packaging Limited (UK), Bemis Company Inc. (US), G. Mondini SA (Italy), Green Packaging Material (Jiangyin) Co., Ltd. (China), Plastopil Hazorea Company Ltd. (Israel). |
Key Market Opportunities | Growing population of the region and Increasing per capita disposable income |
Key Market Drivers |
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Frequently Asked Questions (FAQ) :
The escalation in population-level globally is expected to motivate the market substantially.
The initial set up costs are estimated to hold back the market.
Berry Global Inc. (US), Bemis Company Inc. (US), G. Mondini SA (Italy), LINPAC Packaging Limited (UK), are the companies that can draw from the development of the market.
The Asia Pacific is estimated to create a noticeable mark on the global market.
A 5.80% CAGR is estimated to open up avenues for progress.
A prominent level of income is anticipated from the global market.
The segments of material, application, and region are created to understand factors spurring the global market.