LONDON--(BUSINESS WIRE)--Technavio’s latest report on the vacuum packaging market in Europe provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The vacuum packaging market in Europe is expected to grow, owing to increased consumption of dairy products and packaged food and drinks. However, there are certain factors such as decreasing consumption of meat and environmental concerns regarding plastics among European countries. The production of beef and veal is expected to decrease because it is directly linked to the dairy industry.
Shakti Jakhar, a lead analyst from Technavio, specializing in research on packaging sector, says, “Certain trends in the industry that are expected to drive the market in future include an expected increase in demand from developing countries and rising popularity of high barrier plastics. Developing countries such as Romania, Bulgaria, and Croatia are showing good signs of economic progress, due to which the disposable income is expected to increase.”
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The top three emerging trends driving the vacuum packaging market in Europe according to Technavio research analysts are:
- Rise in popularity of smart packaging
- Expected demand from developing countries of Europe
- Rising popularity of high barrier plastics
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Rise in popularity of smart packaging
The term Smart Packaging refers to the packaging systems used in various sectors such as food and beverage and pharmaceuticals. Smart packaging helps extend shelf life, monitor the freshness of food, and display information such as quality and safety. There are predominantly two types of smart packaging — active packaging and intelligent packaging.
“Active packaging provides functionalities such as moisture control whereas intelligent packaging provides helps in communicating product changes. Europe had the highest market share of more than 40% in the global smart packaging market in 2016 and is expected to lead the market during the forecast period,” according to Shakti.
Expected demand from developing countries of Europe
Europe has several developing countries such as Romania, Bulgaria, and Croatia. These countries are expected to drive the vacuum packaging market in future. The rising GDP growth rate signifies the overall increasing central economy of the countries. This means that the income of citizens is increasing, which would lead to more expenditure on various goods and services such as food, healthcare, and education. Hence, it is expected that developing countries in Europe would drive the vacuum packaging market in future.
Rising popularity of high barrier plastics
The use of resins, which have high barrier properties, is expected to become a major trend during the forecast period. Resins such as EVOH and biaxially-oriented polyethylene terephthalate (BOPET) are used for improving the barrier properties in flexible packaging. Despite being costlier than films made from conventional materials, BOPET films are gaining popularity as there is a need for films with high barrier property. EVOH films also have many advantages, such high impermeability to gases, which helps to retain the original texture, aroma, and flavor of packaged items.
The key vendors are as follows:
- Berry Global
- Sealed Air
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