Global Vacuum Packaging Market 2018-2022
About Vacuum Packaging
Vacuum packaging is used to extend the shelf life of food products and protects both food and non-food products from external damages.
Technavio’s analysts forecast the global vacuum packaging market to grow at a CAGR of 3.76% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global vacuum packaging market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Vacuum Packaging Market 2018-2022
Technavio recognizes the following companies as the key players in the global vacuum packaging market: Amcor, Bemis Company, Berry Global, and Sealed Air.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is use of high barrier plastics. Flexible plastic packaging is gaining popularity globally. In addition, the use of plastic resins, which have high barrier properties is expected to become one of the major trends during the forecast period. Resins, including biaxially-oriented polyethylene terephthalate (BOPET) and EVOH, are widely used for improving the barrier properties of flexible packaging.”
According to the report, one driver in the market is growth in global demand for hygienic and convenient packaging. Unprotected packaged food is vulnerable to cross contamination as well as microbiological contamination. Also, the use of inappropriate wrapping packaging materials leads to chemical contamination, which directly affects the food packaged in it. Therefore, as there is an increase in health consciousness among the consumers across the world, the demand for hygiene packaging is also increasing.
Further, the report states that one challenge in the market is increased raw material prices. Raw materials used for the global vacuum packaging market are polyethylene, polyamide, EVOH, and other plastic resins. The increased prices of propylene in the US have a direct impact on the plastic packaging prices, which, in turn, is increasing the overall cost of vacuum packaging. The US propylene prices increased by more than 105% month-over-month in January 2017.
Amcor, Bemis Company, Berry Global, and Sealed Air.
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