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The Business Research Company's Vacuum Packaging Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LANDON, GREATER LANDON, UNITED KINGDOM, October 2, 2024 /EINPresswire / -- The vacuum packaging market has experienced robust growth in recent years, expanding 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.
What Is The Estimated Market Size Of The Global Vacuum Packaging Market And Its Annual Growth Rate?
The vacuum packaging market is projected to continue its strong growth, reaching $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.
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Growth Driver Of The Vacuum Packaging Market
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.
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Which Market Players Are Driving The Vacuum Packaging Market Growth?
Key players in the market include Berry Plastics Corporation, CVP Systems Inc., Linpac Packaging Limited, Coveris Holding S.A., Amcor Group, ULMA Packaging S.A.R.L, Orics Industries Inc., Multisorb Technologies Inc., Sealed Air Corporation, Klöckner Pentaplast Group, Sealer Sales Inc., Kite Packaging Ltd., US Packaging & Wrapping LLC, Collinsons Vacuum Packaging Pty. Ltd., Stewart's Packaging Inc., Swiss Pac Pvt Ltd., Safe Packaging Systems, Vacuum Packaging Technologies, Vacuum Packaging Systems Inc., Vacuum Sealer Manufacturers Inc., Vacuum Sealers Direct, Vacuum Seal Store, Vacuum Depot, MULTIVAC Sepp Haggenmüller SE & Co. KG, Tetra Pak Group, Crown Holdings Inc., Ball Corporation, Alcan Packaging, Reynolds Group Holdings, Graphic Packaging International.
What Are the Key Trends That Influence The Vacuum Packaging Market Size ?
Major companies operating in vacuum packaging market are focusing on developing product innovations such as vacuum packaging machines. The vacuum flattened packaging machine is a specialized equipment used for vacuum packing perishable goods such as food products. It is designed to evacuate the air around the items being packaged, extending their shelf life and preserving their quality. Vacuum packaging technologies and machinery play an important role in meeting the beverage industry's preservation, hygiene, and shelf-life requirements.
How Is The Global Vacuum Packaging Market 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
Geographical Insights: North America Leading The Vacuum Packaging Market
Asia-Pacific was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Vacuum Packaging Market Definition
Vacuum packaging refers to the method of removing air from a package before sealing. This eliminates oxygen by preventing chemical reactions caused by oxygen that spoil food. The primary purpose is to keep food products fresh up to 3-5 times longer than with traditional storage methods.
Vacuum Packaging Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global vacuum packaging market report covering trends, opportunities, strategies, and more
The Vacuum Packaging Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on vacuum packaging market size, vacuum packaging market drivers and trends, vacuum packaging market major players and vacuum packaging market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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The Business Research Company
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