Vacuum packaging: Key market research findings
- Growing popularity of convenient packaging propels market growth
- The polyethylene segment accounts for much of the market’s revenue
- Key vendors – Amcor, Bemis, Berry Plastics, Linpacs, and Sealed Air
Technavio’s market research analysts predict the global market for vacuum packaging to grow at a CAGR of more than 4% between 2016 and 2020. The growth of the market is stimulated by a shift in preference towards convenient packaging. Many packaging products incorporate features such as zippers, pouring spouts, peel-off lids, microwave compatibility, and easy disposability. Such designs are being increasingly adopted to meet growing consumer demand for products that offer a high degree of convenience and portability. During 2015, the global vacuum packaging market was dominated by APAC with a market share of around 32%. Increasing demand for vacuum packaging solutions in countries like Japan and Australia will propel the prospects for growth in the vacuum packaging market in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the vacuum packaging segments base on the material type.
“Sustainability is a concept that is gaining popularity in the packaging industry. Consumers are demanding sustainable and eco-friendly packaging materials. Biodegradable plastics are easily decomposed by microorganisms, which reduces their toxic effect on the environment compared to conventional plastics. Apart from renewable materials, plastics are also manufactured using petrochemicals with biodegradable additives,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
The polyethylene vacuum packaging vertical dominated the global market in 2015 with a market revenue of almost $10 billion. The increased demand for plastic as a packaging material of choice is the major driving force behind the growth of this segment. Polyethylene is used in the manufacture of various grades of plastic bags used by consumers and industries. It is used for the packaging of edible and non-edible items such as personal care and healthcare products due to its high tensile strength and flexibility.
The key vendors in the global vacuum packaging market include Amcor, Bemis, Berry Plastics, Linpacs, and Sealed Air. Vendors adopt strategies such as M&A to strengthen their position in the market. In FY2015, Amcor acquired the flexible packaging businesses of China-based Zhongshan TianCai Packaging Company and Indonesia-based PT Bella Prima Perkasa to cater to industries such as food and beverages, pharmaceuticals, and personal care.
A more detailed analysis is available in the Technavio report, Global Vacuum Packaging Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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