In the year 2022, the ASEAN MAP and VSP packaging market displayed a total worth of approximately US$ 1,582.6 million. Anticipated to maintain a consistent growth trajectory, this market is projected to achieve a Compound Annual Growth Rate (CAGR) of 5.5% from 2022 to 2032.
By the year 2032, the market is projected to escalate its valuation to US$ 2,711.0 million. Similarly, in 2022, the Gulf Countries MAP and VSP packaging market was assessed at US$ 706.0 million, according to Future Market Insights (FMI). A collective market worth of US$ 3,841.0 million is foreseen for the combined ASEAN and Gulf Countries market for MAP & VSP packaging by 2032.
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Market Drivers:
- Consumer Demand for Freshness: Consumers in ASEAN and Gulf Countries are increasingly seeking fresh and minimally processed food products. MAP and VSP packaging help extend the shelf life and maintain the freshness of products, driving their adoption.
- Food Safety and Quality: MAP and VSP techniques contribute to better food safety and quality by reducing exposure to oxygen and preventing microbial contamination. This is especially crucial in regions with hot climates where food spoilage is a concern.
- Retail Industry Growth: The growth of modern retail formats, such as supermarkets and hypermarkets, in these regions has increased the demand for packaged and shelf-stable products, which are often packaged using MAP and VSP techniques.
- Export Opportunities: Both ASEAN and Gulf Countries are known for their exports of food and agricultural products. MAP and VSP packaging can help extend the shelf life of these products, making them more suitable for export markets.
- Reduced Food Waste: These packaging methods help reduce food waste by prolonging the shelf life of products, which is in line with global efforts to minimize food waste.
In recent years, Asia has faced increasing criticism for its position as one of the leading contributors to global food waste. Within the ASEAN nations, encompassing both established economies like India and emerging ones such as Bangladesh, concerted efforts are underway in both the public and private sectors to combat this issue. These sustainability initiatives are poised to trigger a favorable expansion of the ASEAN market for Modified Atmosphere Packaging (MAP) and Vacuum Skin Packaging (VSP).
Concurrently, in economically developed regions within the ASEAN and Gulf Countries, including nations such as Australia, Qatar, Saudi Arabia, and the United Arab Emirates, the adoption of MAP and VSP packaging methods is well underway. However, the pace of adoption varies, with developed economies leading the charge due to their capacity to absorb the relatively higher costs associated with MAP and VSP packaging solutions.
Key Players
- 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.
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
About Future Market Insights Inc. (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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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