The Vacuum Packaging Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Vacuum Packaging Global Market Report 2024, The vacuum packaging market size has grown strongly in recent years. It will grow from $31.2 billion in 2023 to $32.93 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to emergence of preservation techniques, food industry adoption, demand for extended shelf life, industrial applications, convenience and portability..
The vacuum packaging market size is expected to see strong growth in the next few years. It will grow to $41.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to consumer awareness and preferences , economic factors, health and hygiene considerations, globalization and market expansion.. Major trends in the forecast period include value-added packaging features, cross-industry applications, safety assurance and hygiene, small batch and on-demand packaging, biodegradable packaging materials..
The growing need for packaged food products is expected to propel the demand for vacuum packaging. The packaged food products are processed and preserved items for consumption by consumers. The growing need for packaged food products increases the demand for vacuum packaging seals in the food and beverage industries because they keep the flavor and freshness intact while also removing air from the packaging. For instance, in May 2021, according to a report published by the organic trade association, the sales of frozen and canned fruits and vegetables increased by more than 28%, including frozen, canned, and dried products. Therefore, the growing need for packaged food products will drive the demand for vacuum packaging.
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The vacuum packaging market covered in this report is segmented –
1) By Machinery Types: External Vacuum Sealers, Thermoformers, Tray-sealing Machine, Other Machines
2) By Pack type: Rigid Packaging, Semi-rigid Packaging, Flexible Packaging
3) By Process: Skin Vacuum Packaging, Shrink Vacuum Packaging, Other Processes
4) By Materials: Polyethylene, Polypropylene, Polyamide, Ethylene Vinyl Alcohol, Other Materials
5) By End-user: Food, Pharmaceuticals, Industrial Goods, Other End-users
Technological advancement is a key trend gaining popularity in the vacuum packaging market. Major companies operating in vacuum packaging are concentrating on creating leak detection technologies to reduce such leaks and avoid spoilage of food items. Such advancements enable key players to gain a competitive edge in the market. For instance, in April 2021, Ametek Mocon, a packaging and container manufacturing company based in the United States, launched the Dansensor Lippke VC1400. The system detects leaks in flexible, semi-rigid, and rigid packaging. This new system features a user-friendly GUI allowing simple and intuitive data capture, storage, and export. It is vacuum-based technology and ideal for methylene blue dye testing, quickly identifying when the packaging is broken.
The vacuum packaging market report table of contents includes:
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