Vacuum Packaging Market: Expanding at a CAGR of 4.9% by 2032, Driving Efficiency and Freshness in Packaging Solutions

Expected to reach US$ 7.5 billion in 2022, the global vacuum packaging market is poised for continued growth, with projections indicating a Compound Annual Growth Rate (CAGR) of 4.9% to achieve US$ 12.1 billion by 2032. This growth trajectory reflects the increasing adoption of vacuum packaging solutions across various industries. Factors such as the growing demand for extended shelf life of perishable products, rising concerns about food safety and hygiene, and advancements in packaging technology contribute to the market’s expansion. Additionally, the emphasis on sustainability and cost-effectiveness further drives the adoption of vacuum packaging solutions worldwide.

In the United Kingdom, the vacuum packaging market is expected to register a robust Compound Annual Growth Rate (CAGR) of 3.3% during the forecast period. One of the key growth opportunities in the U.K. market is driven by the high preference for barrier packaging, particularly in the context of seafood products. The European Commission (EC) reports that individuals in Europe consume approximately 24 kilograms of fish or seafood per year. Moreover, household spending on meat and fish purchases in the U.K. reached Euro 23 billion and Euro 4 billion, respectively, in 2020. This heightened consumption of seafood, along with the demand for effective packaging to preserve its freshness, is expected to create a significant growth opportunity for the vacuum packaging market in the U.K. As the U.K. continues to embrace vacuum packaging for seafood and other food products, the market is poised for steady expansion.

Request Sample:  https://www.futuremarketinsights.com/reports/sample/rep-gb-1200

Business Growth Drivers:

1. Extended Shelf Life: Vacuum packaging helps in preserving the freshness and quality of food products by extending their shelf life. This is particularly important for perishable items like meat, seafood, and dairy products.
2. Reduced Food Waste: By preventing spoilage and deterioration, vacuum packaging contributes to reducing food waste along the supply chain, which is a significant concern globally.
3. Improved Product Protection: Vacuum packaging provides a protective barrier against external factors such as moisture, oxygen, and contaminants, safeguarding the product integrity during transportation and storage.
4. Consumer Convenience: Consumers appreciate the convenience offered by vacuum-sealed products, as they can be easily stored for longer periods without compromising taste or quality.
5. Increasing Demand for Ready-to-Eat Foods: The rising demand for convenient and ready-to-eat food products, driven by busy lifestyles and changing dietary preferences, has fueled the growth of the vacuum packaging market.
6. Technological Advancements: Ongoing advancements in vacuum packaging technology, such as modified atmosphere packaging (MAP) and active packaging systems, have enhanced the efficacy and versatility of vacuum packaging solutions, further driving market growth.
7. Expanding Food Industry: The growth of the food and beverage industry, coupled with stringent regulations regarding food safety and quality, has propelled the adoption of vacuum packaging solutions across various food segments.

Industry Restraints:

1. Initial Investment Costs: The setup costs associated with implementing vacuum packaging systems can be significant, especially for small and medium-sized enterprises (SMEs), which may deter adoption among certain businesses.
2. Packaging Waste Concerns: While vacuum packaging helps reduce food waste, it also generates packaging waste, raising environmental concerns, particularly regarding the disposal and recyclability of packaging materials.
3. Impact on Product Appearance: Vacuum packaging can sometimes alter the appearance of certain food products, affecting their visual appeal, which might be a concern for consumers, especially in the case of fresh produce.
4. Regulatory Compliance: Compliance with stringent regulatory standards and requirements related to food packaging materials, labeling, and safety adds complexity and cost to vacuum packaging operations.
5. Limitations for Certain Products: Not all food products are suitable for vacuum packaging, as some may require specific packaging methods or may not benefit from vacuum sealing in terms of shelf life extension.
6. Competition from Alternative Technologies: Vacuum packaging faces competition from alternative packaging technologies such as modified atmosphere packaging (MAP), active packaging, and intelligent packaging solutions, which offer different functionalities and advantages.
7. Supply Chain Disruptions: Disruptions in the supply chain, such as raw material shortages, transportation issues, or geopolitical factors, can impact the availability and cost of packaging materials, affecting the vacuum packaging market.

Competitive Landscape

• In August 2022, Amcor plc expanded its presence in Europe by acquiring a world-class flexible packaging plant located in the Czech Republic.
• In April 2022, Klockner Pentaplast expanded its capacity by adding rPET/PET capacity to its Beaver site which will help the company grow its sustainable healthcare and food packaging market in North America.

Key Players-

• Sealed Air Corporation
• Amcor plc
• Berry Global Group
• Schur Flexibles Holding GesmbH
• Winpak Ltd.
• Klöckner Pentaplast
• Allfo GmbH & Co. KG
• Nemco Machinery A/S
• Plastissimo Film Co., Ltd.
• Plastopil Hazorea Company Ltd.
• Coveris Holdings S.A.
• The Vacuum Pouch Company Ltd.

Buy Now/Purchase: https://www.futuremarketinsights.com/checkout/1200

Vacuum Packaging Market by Category

By Materials

• Polyethylene (PE)
• Polypropylene (PP)
• Polyamide (PA)
• Ethylene Vinyl Alcohol (EVOH)
• Polyethylene terephthalate (PET)
• Other Plastics (PS, etc.)

By Product Type

• Pouches & bags
• Films

By End Use

• Food
• Non-Food

By Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa

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.

Contact Us:        

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries:  sales@futuremarketinsights.com
Website:  https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube