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Vacuum Packaging Market - Forecast(2022 - 2027)
Vacuum Packaging Market - Forecast(2022 - 2027)
The: “Vacuum Packaging Market Report – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the vacuum packaging market.

Vacuum Packaging Market is forecast to reach $30.5 million by 2026, after growing at a CAGR of 3.57% during 2021-2026. The significant factors contributing to the growth of the market is the growing perception of high quality and hygienic food packaging. The increased need for longer product shelf-life has guided the market for vacuum packaging. Furthermore, the increasing demand for vacuum packaging from both the pharmaceutical and food & beverage industries is projected to generate new opportunities for the growth of the global vacuum packaging industry in the forecast era.

Impact of Covid-19

The COVID-19 pandemic will continue to affect the food industry and its supply chains. Rising home consumption due to shelter-in-place orders amid the pandemic is pushing customers to switch from outlets of retail foodservice to e-commerce platforms. This unexpected change in the trend of customers is emerging as a lifeline for producers of vacuum packaging.

 

Report Coverage

The: “Vacuum Packaging Market Report – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the vacuum packaging market.

By Material Type: Polyethylene, Polyamide, Ethylene Vinyl Alcohol, and Others
By Packaging Type: Flexible Packaging, Semi-Rigid Packaging, and Rigid Packaging
By Application: Food & Beverage, Healthcare & Pharmaceuticals, Electronics, Industrial Goods, and Others

By Geography: North America, Asia Pacific, Europe, Middle East & Africa, and South America

Key Takeaways

New and innovative technologies including the manufacture of vacuum packets containing recyclable packaging and lightweight packaging accumulate value on the demand for vacuum packaging. For instance, Clearly Clean Products LLC provides vacuum skin packaging trays consisting of recyclable plastic.

Ready or on-the-go meals, especially among consumers with busy lifestyles, have also witnessed a steady demand for their convenience. Due to the busy schedule and changing lifestyles, the demand for frozen food is also growing. This technique thus allows packaging cost-effectively and is estimated to rise over the forecast period.

The need to keep medical instruments sterile is one of the problems faced by the healthcare industry. In shielding these instruments from oxygen exposure, vacuum packaging plays a vital function, as it can adversely alter the consistency of the drug.

Vacuum Packaging Market Segment Analysis - By Material Type

The polyethylene segment is held the largest share in the vacuum packaging market in 2020. Due to its low manufacturing & processing costs, manufacturers prefer polyethylene over other packaging materials. It is possible to make polyethylene hard and rigid or soft and pliable. Soft and pliable films are also used in the vacuum packaging industry to package and store a wide range of items. Also, the lowest softening point of the fundamental packaging plastics is provided by polyethylene. The lower softening point results in lower energy costs for manufacturing. Polyethylene’s popularity alongside being healthy for food touch has fueled demand for polyethylene from the packaged food industry. According to the Trademap (ITC), India is around the top 20 largest exporters of polyethylene in 2019, exporting 538,301 tones in the year. Thus, the increasing demand for polyethylene will further drive the market for vacuum packaging in the forecast period.
 

Vacuum Packaging Market Segment Analysis - By Packaging Type

Flexible packaging held the largest share in the vacuum packaging market in 2020. Flexible packaging films and laminates are suitable for both dry food packaging and liquid applications, providing an insulation layer that covers items when they are packed. In several different markets, versatile laminate materials are used, ranging from cleaning products, pet food, and frozen meals, to dietary supplements and cosmetics. Flexible packaging materials are adapted to the unique barrier needs of the product, which will improve the long-term durability and help the product withstand harmful external elements as it sits on the shelf. Innovation and technological advances have led to the development of lighter weight packaging which enhances the shelf appeal of flexible packaging, strength, product protection, and sealing capability. Flexible packaging is the second largest packaging market in the U.S., according to the Flexible Packaging Association (FPA). As of June 2019, flexible packaging accounted for around 19 percent of the $170 billion U.S. packaging market, and food (retail and institutional) being the primary market for flexible packaging accounted for nearly 59% of shipments.

Vacuum Packaging Market Segment Analysis - By Applications

The food & beverage sector held the largest share in the vacuum packaging market in 2020 and is projected to grow at a CAGR of 4.8% during the forecast period 2021-2026. Packaged food items are becoming increasingly an important part of regular diets around the world. There is a rising need for hygiene packaging with increasing awareness of the use of improper wrapping packaging materials that lead to chemical contamination and increased health awareness among customers. This is expected to fuel the need for vacuum packaging, as it protects food products against atmospheric gas and, in turn, increases the shelf life of those products. Demand for packaged chicken, beef, pork, etc. is growing worldwide, which will impact demand for vacuum packaging in turn. According to the World Health Organization, by 2030 annual meat production is projected to increase by 376 million tons. Also, vacuum skin packaging (VSP) or skin vacuum packaging has been available for many years, and the technology appears to be gaining traction as a preferred package of choice for more premium food choices. Therefore, with the growing demand for packaged food products, the demand for vacuum packaging is estimated to rise in the forecast period.

Vacuum Packaging Market Segment Analysis - By Geography

North America held the largest share with 30% in the vacuum packaging market in 2020 due to increased demand for packaged food in emerging economies like the U.S., Canada, and Mexico as well as increased pharmaceutical production. These packaged foods, therefore, require efficient packaging that offers protection and resistance against the growth of bacteria and increases the shelf life of the product. Also, the consumption of meat has continued to increase in this region. According to the U.S. Department of Agriculture and Economic Research Service (an element of the U.S. Department of Agriculture), red meat consumption in the U.S. was 109.3 pounds per capita in 2018 and is projected to increase to 113.8 pounds per capita. By avoiding contact with oxygen, vacuum packaging preserves food (like meat) and thus increases the shelf life of items. Hence due to these properties, the market for vacuum packaging is anticipated to rise in the forecast period.
 
Vacuum Packaging Market Drivers

Increasing demand for polyamide in packaging industry

Polyamide is used in the vacuum packaging industry because of its ability to create films with high clarity, versatility, strong thermoforming ability, and moderate shrinkage properties. Polyamide is a commonly used resin for the development of flexible packaging films, combined in most cases with polyolefin as a multilayer structural component. For packaging products, the main polyamides are polyamide 6 and polyamide 66. Semi-crystalline and polymers both are known for hardness. Polyamide 6 is known for stiffness whereas polyamide 66 is known for other properties such as resistance to abrasion and high-temperature heat deflection. Polyamides have good resistance to puncture, impact strength and temperature resistance, as well as suitable properties for gas barriers due to which it is preferred in the vacuum packaging industry. Polyamides are commonly used in multilayered structures to provide both strength and durability for food packaging systems. To provide heat sealability and a moisture barrier, as well as to minimize costs, polyolefin’s are co-extruded with nylons.

Increasing demand for vacuum packaging in the medical sector

Vacuum packaging saves time, money and extends the shelf life of the product owing to which it is used in hospitals, healthcare, or medical environment. Medicines should not be influenced by any form of external temperature or climate, so, packing with vacuum is done. The key issue with medical products is that they are sanitary. Vacuum sealing medical items, similar to food, can destroy any bacteria in contact with the item and will also avoid the introduction of other bacteria before the package is opened. When they are packed and vacuum sealed by several methods, medical items may also be sterilized. This ensures that they are fully sterile and ready to use. Thus, with the increasing growth of medical products the demand for vacuum packaging is anticipated to rise in the forecast era.
 

Vacuum Packaging Market Challenges

Strict regulations and high installation costs

Low production and manufacturing costs as well as the abundance of plastic materials such as polyethylene (PE) allow their wider adoption in vacuum packaging solutions. Excessive use of such plastics, while recyclable, poses a hazard to the environment and is therefore subject to regulatory strictness. Though vacuum packaging increases the shelf life of frozen food items, food products are still able to grow some bacteria and further contaminate them. Agencies such as the Food Standards Agency are also growing their rigor concerning the acceptance of vacuum packaging solutions. Also, higher installation costs and regular maintenance of packaging machines present a current challenge for players in the vacuum packaging market.

Vacuum Packaging Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the vacuum packaging market. In 2020, the market of vacuum packaging has been consolidated by the top five players accounting for xx% of the share. Major players in the vacuum packaging market are Bemis Company, Inc., CVP Systems, Inc., Sealed Air Corporation, ULMA Packaging, Orics Industries, Inc., Linpac Packaging Limited, Coveris Holdings S.A., Berry Plastics Corporation, Multisorb Technologies, Inc., and Amcor Limited among others.
 
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