Vacuum Packaging Global Market – Overview
The food and beverage markets represent the largest consumption group for packaging materials and machinery. Several reasons drive this growth such growing urbanization, increased living standards, and disposable income in the developing regions play a main role. With the increase in number of convenience stores and super marts across the globe, especially in Asia-pacific has led to increased consumption of processed and convenience foods and beverages. Such stores has been able to bring the processed and packaged eatables close to the consumers.
The Vacuum Packaging Market size is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of Vacuum Packaging will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2027, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2027).
Food & beverage industry has adopted vacuum packaging extensively across the world due to the some additional functionalities such as retention of integrity of a product and prevent food spoilage, along with increased shelf life. Such properties are ideal for the retail outlets where fresh and processed food items needs to be stored over a longer period of time as well it enables the consumers to see and feel the product from the packaging. This drives the demand of vacuum packaging across the foods & beverages industry.
The urban transition and economic growth have been linked with each other because economic development fuels urbanization. General trends in urbanization are linked to sustainable development of a country. The increasing concentration of people in urban areas can facilitate economic and social development, while offering opportunities to reduce the impact of consumption and production on the environment. This leads to a general change in the preferences of the consumers as well as brings change in the consumption patterns.
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The urbanization on a global level along with rapid industrialization, across all the geographical regions have led to the change in consumption pattern of foods, beverages, consumer goods, and others. Today, there is seen an increased demand of packaged, processed and convenience food due to changing lifestyle, especially in emerging nations. The countries like India, and Brazil have seen increasing demand for electronics and consumer goods. This augments the demand for vacuum packaging from these regions and result in staggering growth.
There is seen an expanding role of government and other agencies to ensure food safety on a global platform. Government agencies are responsible for setting food safety standards, conducting inspections, ensuring that standards are met, and maintaining a strong enforcement program to deal with those who do not comply with standards. The Food Safety Modernization Act (FSMA), enables the Food and Drug Administration (FDA) to better protect public health by strengthening the food safety system. This also includes packaging and product information. Food labelling is under the jurisdiction of the FDA and the relevant Federal laws are the Food, Drug, and Cosmetic Act (FDCA) and the Fair Packaging and Labelling Act.
In addition, the Nutrition Labelling and Education Act (NLEA), which amended the FDCA, requires most foods to carry nutrition labelling and requires food labels that carry nutrient content claims and certain health messages to comply with specific requirements. Also, the government policies have become stringent in the emerging economies due to increased awareness about food safety. This acts as a driver for the growth of vacuum packaging market, as such policies and regulations enforce high quality packaging for foods. Vacuum high barrier packaging is utilized across the industry to pack fresh meat, processed meats and poultry items.
The European Union introduced certain measures on the management of packaging waste back in 1980s. There were rules set in Directive 85/339/EEC on the production, marketing, use, recycling and refilling of containers of liquids for human consumption and on the disposal of used containers. The directive has been amended since then and it was last amended in 2015. Such measures have been implemented across all the developed and recently in developing nations. This hampers the growth the growth of vacuum packaging market due to the use of various type of plastic grades in vacuum shrink and skin packaging and the recycling and waste management of plastic during the process of packaging.
