According to a report by Future Market Insights (FMI), the combined MAP & VSP packaging market in ASEAN and Gulf Countries is projected to reach a valuation of US$ 3,841.0 million in 2032. Modified atmosphere packaging (MAP) and Vacuum skin packaging (VSP) are advanced packaging techniques that aim to extend the shelf life of perishable products. Companies in both the food and non-food sectors across ASEAN and Gulf Countries are increasingly adopting these techniques to reduce waste.
Food waste, especially in warm climate countries like India, Bangladesh, and Vietnam, has been a persistent issue. Perishable food products such as meat, milk, and dairy tend to spoil quickly, leading to significant losses for companies in ASEAN and Gulf Countries. To combat this issue, modern packaging techniques like MAP and VSP are being employed.
Although MAP and VSP differ technically, they offer similar benefits. Products packaged using MAP and VSP have extended shelf lives and do not spoil as quickly as they would with conventional packaging. Additionally, these techniques enable companies to provide preservative-free goods, making the products more beneficial for health.
The Saudi Arabia market is expected to experience significant growth in MAP & VSP packaging adoption between 2022 and 2032. With its economic strength, Saudi Arabia can embrace MAP & VSP packaging without financial concerns. By 2032, the Saudi Arabia market is predicted to hold a 34.8% share in the Gulf Countries market for MAP & VSP packaging. Other markets in ASEAN and Gulf Countries, including Vietnam, Indonesia, Thailand, Oman, and the United Arab Emirates, also offer lucrative opportunities for market players during the forecast period.
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Key Takeaways from the ASEAN and Gulf Countries MAP & VSP Packaging Market Report:
- The ASEAN MAP & VSP packaging market was valued at US$ 1,582.6 million in 2022.
- Between 2022 and 2032, the market is expected to grow at a steady CAGR of 5%, reaching a valuation of US$ 2,711.0 million in 2032.
- From 2017 to 2021, the ASEAN and Gulf Countries markets experienced slow and sluggish CAGRs of 7% and 3.4% respectively.
- The Vietnam market for MAP & VSP packaging is projected to accelerate at a healthy CAGR of 8% between 2022 and 2032.
- Ethylene vinyl alcohol (EVOH) is anticipated to experience significant demand growth with a positive CAGR of 1% from 2022 to 2032 based on material type.
- VSP is expected to outperform MAP in terms of sales across ASEAN and Gulf Countries between 2022 and 2032 based on technology.
“Despite the rising popularity of MAP and VSP among companies dealing in perishable goods and products, the fact is that they do not completely guarantee lack of spoilage. Once MAP and VSP packaging is unpackaged, they are not effective anymore in terms of keeping products fresh. This is why market players are likely to improve their MAP and VSP packaging solutions for optimal spoilage reduction.” Says an FMI analyst.
Surging Demand for MAP & VSP Packaging in Vietnam and Saudi Arabia
The demand for Modified Atmosphere Packaging (MAP) and Vacuum Skin Packaging (VSP) is witnessing significant growth in Vietnam and Saudi Arabia, driven by specific factors unique to each market.
In Vietnam, the urgent need to reduce food waste is driving the demand for MAP & VSP packaging. The country is grappling with a significant plastic waste problem, particularly from takeaway beverages and foods. A substantial amount of plastic waste enters Vietnam’s seas and rivers each year, adversely impacting the environment. To address this issue, there is a growing emphasis on adopting packaging solutions that can extend the shelf life of food products and reduce food waste. MAP & VSP packaging offers improved preservation and protection, making it an attractive solution for the Vietnamese market.
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Saudi Arabia, on the other hand, stands out as the most lucrative market for MAP & VSP packaging in the Gulf countries. The country’s strong economy and presence of key players in the packaging industry contribute to its growth potential. Despite the high costs associated with MAP & VSP packaging, Saudi Arabia’s economic prosperity allows for greater adoption of these packaging solutions. Additionally, the country’s significant consumption of meat products creates a growing demand for perishable food packaging. As a result, the MAP & VSP packaging industry in Saudi Arabia is expected to thrive.
Overall, both Vietnam and Saudi Arabia are experiencing surging demand for MAP & VSP packaging driven by factors such as the need to reduce food waste and the economic prosperity of the respective markets. These packaging solutions offer enhanced preservation and protection, making them valuable for addressing the unique challenges in each country’s food industry
Who is Winning?
According to FMI’s comprehensive report, both established and emerging market players are focused on improving their MAP and VSP packaging solutions. Owing to rising demand for these packaging techniques, players are expected to expand their facilities and enter into strategic collaborations and partnerships. Hefty research & development investments are also likely.
Mondi Group Plc, Berry Global Inc., Sealed Air Corporation, Swiss Pack Europe, Klöckner Pentaplast Group, Amcor plc, Plastissimo Film Co., Ltd., Luban Pack, Al Borj Plastic Industries, VACUUM BAGS SARL, NARAI PACKAGING (THAILAND) LTD., IMPERIAL PACKAGING AND PLASTICS SDN BHD, FRAGSTAR CORPORATION SDN. BHD., SOLOS POLYMERS PVT. LTD., Vishakha Polyfab Pvt Ltd., and Napco National are the key players operating in the ASEAN and Gulf Countries MAP & VSP packaging market.
Get More Valuable Insights into ASEAN and Gulf Countries MAP & VSP Packaging Market
Future Market Insights, in its new offering, provides an unbiased analysis of the ASEAN and Gulf Countries MAP & VSP Packaging Market presenting historical demand data (2017 to 2021) and forecast statistics for the period from 2022 to 2032. The study divulges compelling insights on the demand for MAP & VSP packaging based on material type (polyethylene (PE), polypropylene (PP), polyamide (PA), ethylene vinyl alcohol (EVOH), polyethylene terephthalate (PET)), product type (pouches & bags, films), film structure (monolayer, 3 layers, 5 layers, 7 layers, more than 7 layers), technology (modified atmosphere packaging (MAP), vacuum skin packaging (VSP)), and end use (food, non-food) across various countries.
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ASEAN and Gulf Countries MAP & VSP Packaging Market Outlook by Category
By Material Type:
- Polyethylene (PE)
- HDPE
- LDPE
- LLDPE
- Polypropylene (PP)
- Polyamide (PA)
- Ethylene Vinyl Alcohol (EVOH)
- Polyethylene terephthalate (PET)
By Product Type:
- Pouches & Bags
- Films
By Film Structure:
- Monolayer
- 3 Layers
- 5 Layers
- 7 Layers
- More than 7 Layers
By Technology:
- Modified Atmosphere Packaging (MAP)
- Vacuum Skin Packaging (VSP)
By End Use:
- Food
- Convenience Food – RTE – Ready to Eat and RTC – Ready to Cook
- Bakery
- Snacks & Confectionary
- Pet Food
- Breakfast and Cereals
- Sauces and Condiments
- Grain & Cereals
- Flavors and Fragrances
- Meat Products
- Fish Products
- Dairy
- Non-Food
By Country:
- ASEAN
- Gulf Countries
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