LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global vacuum packaging market to grow at a CAGR of around 4% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global vacuum packaging market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market.
APAC: the principal region for the global vacuum packaging market
The vacuum packaging market in APAC was valued at USD 7.17 billion in 2015 and will likely reach USD 9.06 billion by 2020, growing at a CAGR of 4.79%. Increasing demand for vacuum packaging solutions in Japan and Australia is the primary growth driver of this market. The major applications of such packaging products in these countries include fresh meat, poultry, fish, processed foods, ready-to-eat meals, fruits, and vegetables. China, New Zealand, and India represent key emerging markets for vacuum packaging solutions. The following factors are also contributing to the market growth:
- Healthy lifestyle choices
- Stringent safety regulations
- Increased demand for milk products
Technavio transportation and logistics analysts highlight the following four factors that are contributing to the growth of the global vacuum packaging market:
- Demand for hygienic packaging from food industry
- Demand for packaging that can extend shelf-life of edible products
- Shift toward convenient packaging
- Shift in consumer preference
Demand for hygienic packaging from food industry
Owing to increased emphasis on food safety by regulators and manufacturers of food products, vendors of packaging products are focusing on technological advancements and introduction of advanced packaging solutions that meet the standards of hygiene and quality. Packaging is crucial for the food industry to safeguard products from contamination and to maintain the quality of packaged foods. Consumers are also demanding food products that have no artificial additives and preservatives. Also, increasing demand for fresh produce and pre-cooked food products will propel the demand for vacuum packaging.
Sharan Raj, one of the lead packaging research analysts at Technavio, says, “Vacuum packaging helps in extending the shelf life and preserving the quality of stored foods. An advantage of vacuum packaging is that the food products thus packaged are exposed to little or no oxygen. Thus, vacuum bags provide ideal conditions for air-tight packaging with less chances of bacterial interactions. This has led to the increased use of vacuum packaging, especially in pharmaceutical and food industries.”
Demand for packaging that can extend shelf-life of edible products
The development and use of innovative materials will be the key differentiating factor among vendors in the food and beverages packaging market. This has led to the demand for new shelf-life-enhancing methods of packaging, as manufacturers of food products are looking for solutions that can enhance the shelf life of products while eliminating the use of preservatives and additives. Packaging materials with high mechanical and antimicrobial barrier properties are being introduced in the market.
“Various types of plastic packaging materials, such as polyethylene and polyamide, are used in the form of films, foils, trays, bags, and lids for packaging. The thickness of some materials like EVOH and PA are adjusted to suitable levels, as per requirement. Vacuum packaging products are also available in various sizes. Thus, growing demand for versatile packaging products that can enhance the shelf life of perishable products is contributing to market growth,” adds Sharan.
Shift toward convenient packaging
Customer convenience is a major factor that drives the global packaging market. Working professionals require products that can be opened and used with ease. 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.
For example, Amcor Flexibles offers a thermoformable cellulose-based product called Packpyrus Flexible for vacuum pack base webs, which targets the fresh food market. Its Packpyrus Rigid and Packpyrus Flexible packages can reduce the cradle-to-gate carbon footprint by 60% and 70%, respectively, due to their light weight, efficient manufacturing process, and use of renewable fibers. Such packages also help in improving life cycle performance.
Shift in consumer preference
Technavio analysts anticipate that the global packaging market will grow at a rapid rate of 7% during the forecast period. Some demographic trends have positively impacted the global packaging market. For instance, urbanization and change in consumer lifestyles have propelled the demand for packaging solutions that are lightweight and have greater visual appeal. The rise in disposable income of consumers has also increased the demand for packaged products, which in turn has led to growing demand for packaging materials. In addition, the global packaging market has experienced a considerable shift in purchasing patterns, with customers demanding more flexible packaging solutions over rigid packaging.
Some of the top vendor offerings:
| Company | Products Offered |
| Amcor Ltd. |
|
| Bemis Co. Inc. |
|
| Berry Plastics |
|
| LINPAC Group Ltd. |
|
| Sealed Air Corp. |
|
Source: Technavio
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