According to a report published by Future Market Insights (FMI), the ASEAN and Gulf Countries MAP & VSP packaging market is likely to register a combined US$ 3,841.0 million valuation in 2032. Modified atmosphere packaging (MAP) and Vacuum skin packaging (VSP) are modern packaging techniques that are primarily aimed at extending perishable products’ shelf lives. Across ASEAN and Gulf Countries, these techniques are increasingly being adopted by companies in both food and non-food sectors for reducing waste.
Food waste, in particular, has been a persistent issue in recent times, especially in several ASEAN countries such as India, Bangladesh, and Vietnam. Even with conventional packaging, perishable food products such as meat, milk, and dairy tend to spoil quickly in these countries due to their warm climates. Companies dealing in these perishable products across ASEAN and Gulf Countries have reported resounding losses owing to food spoilage and waste. This is where cutting-edge, modern-day packaging techniques such as MAP and VSP can make a difference.
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While MAP and VSP are technically different, they offer several similar benefits. For instance, products packaged using MAP and VSP tend to enjoy extended shelf lives, i.e. they don’t spoil like they would if conventional packaging was used. These techniques also allow companies to provide goods to consumers without preservatives, which makes the products more beneficial for health compared to items with preservatives.
Among ASEAN and Gulf Countries, FMI expects Saudi Arabia market for MAP & VSP packaging to gain exponential traction between 2022 and 2032. The Arab nation’s economic might is allowing it to adopt MAP & VSP packaging without any financial worries. In 2032, the Saudi Arabia market is anticipated to have a 34.8% share in the Gulf Countries market for MAP & VSP packaging. Other markets across ASEAN and Gulf Countries poised to provide lucrative opportunities to market players between 2022 and 2032 include Vietnam, Indonesia, Thailand, Oman, and the United Arab Emirates.
Key Takeaways from the ASEAN and Gulf Countries MAP & VSP Packaging Market Report
- ASEAN MAP & VSP packaging market was estimated to register a valuation of US$ 1,582.6 million in 2022.
- Between 2022 and 2032, a steady 5% CAGR is anticipated to take the ASEAN market’s valuation up to US$ 2,711.0 million in 2032.
- From 2017 to 2021, slow and sluggish CAGRs of 7% and 3.4% were observed for the ASEAN and Gulf Countries markets respectively.
- Vietnam market for MAP & VSP packaging is slated for healthy acceleration at a CAGR of 8% between 2022 and 2032.
- By material type, ethylene vinyl alcohol (EVOH) is poised to experience significant demand acceleration at a positive CAGR of 1% from 2022 to 2032.
- By technology, VSP is set to outperform MAP in terms of sales across ASEAN and Gulf Countries between 2022 and 2032.
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“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.
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.
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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
Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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