Global Vacuum Packaging Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The Global Vacuum Packaging Market is estimated to be USD 30.97 Bn in 2023 and is expected to reach USD 40.07 Bn by 2028 growing at a CAGR of 5.29%.

Market Dynamics

Key factors, such as the increasing consumption of ready-to-eat food products with the rising awareness amongst the masses about the hygienically packed process are driving the growth of the vacuum packaging market. The use of vacuum packaging enhances the shelf life of the food product and also helps in ensuring food safety. Moreover, these processes are likely to reduce storage space thereby reducing transportation and distribution costs.

However, the high costs of machinery are likely to restrain the growth of the market.

Market Segmentation

• The Global Vacuum Packaging Market is segmented further based on Process, Application, Packaging Material, Machinery, Pack Type, and Geography.
• By Process, the market is classified as skin vacuum packaging, shrink vacuum packaging, and others. Amongst the two, the skin vacuum packaging segment is estimated to hold the highest market share.
• By Application, the market is classified as Food, Pharmaceuticals, Industrial Goods, and Others. Amongst all, the food segment is estimated to hold the highest market share during the forecast period.
• By Packaging Material, the market is classified as Polyethylene, Polyamide, Ethylene Vinyl Alcohol, and Others. Amongst all, the polyethylene segment holds the highest market share.
• By Machinery, the market is classified as thermoformers, external vacuum sealers, tray-sealing machines, and others. Amongst all, the thermoformer segment is estimated to hold the highest market share.
• By Pack Type, the market is classified as flexible packaging, semi-rigid packaging, and rigid packaging. Amongst the two, the flexible packaging segment is estimated to hold the highest market share.
• By Geography, APAC is projected to lead the market.

Recent Developments

1. Amcor is partnering with Moda vacuum packaging solutions for gaining operational efficiencies and cost savings with the Flow-Tite® shrink roll stock and Moda equipment - 10th January 2020
2. Harpak-ULMA (the North American arm of ULMA) has introduced the ULMA FS-400 Flow wrapper machine for packaging of raw food products.- 28th January 2020

Company Profiles

Some of the companies covered in this report Amcor Limited, Sealed Air Corporation, Berry Plastics Corporation, Bemis Company, Inc., Coveris Holdings S.A, and Multisorb Technologies, Inc.

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Vacuum Packaging Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
• The report also contains the competitive analysis using Competitive Quadrants, the Proprietary competitive positioning tool.

Report Highlights:

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market