Vacuum Packaging Market Size, Share, Industry Analysis, Trends, Growth, 2030

Vacuum Packaging Industry Prospective:

The global vacuum packaging market size was evaluated at $11 billion in 2022 and is slated to hit $19 billion by the end of 2030 with a CAGR of nearly 6.2% between 2023 and 2030.

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Vacuum Packaging Market: Overview

Vacuum packaging is a packaging process that helps in removing air from the package before sealing. It includes placing items in a plastic film package, removal of air from the interior of the plastic film package, and package sealing. Reportedly, vacuum packaging minimizes atmospheric oxygen along with restricting the proliferation of fungi as well as aerobic bacteria, thereby preventing the vaporization of volatile ingredients. Additionally, vacuum packaging is used for storing dry foods such as coffee, cereals, cheese, nuts, smoked fish, cured meats, and potato chips for an elongated timespan. It can also be utilized in storing fresh foods including meats, vegetables, and beverages as it prevents bacterial proliferation.

Key Insights

• As per the analysis shared by our research analyst, the global vacuum packaging market is projected to expand annually at the annual growth rate of around 6.2% over the forecast timespan (2023-2030)
• In terms of revenue, the global vacuum packaging market size was evaluated at nearly $11 billion in 2022 and is expected to reach $19 billion by 2030.
• The global vacuum packaging market is anticipated to grow rapidly over the forecast timeline owing to surging awareness among people about food safety & hygiene.
• In terms of material, the polyethylene segment is slated to register the highest CAGR over the forecast period.
• Based on application, the food segment is expected to dominate the segmental growth in the upcoming years.
• Region-wise, the European vacuum packaging industry is projected to register the fastest CAGR during the assessment timeline.

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Vacuum Packaging Market: Growth Factors

Massive product penetration in the food sector will steer the expansion of the global market by 2030

Surging awareness among people about food safety & hygiene is projected to bolster the expansion of the vacuum packaging market across the globe. Furthermore, the huge demand for hygienic packaged food products and the safety of products as well as retaining freshness of food products will embellish the global market trends. A large-scale intake of processed & convenience diets has increased the product penetration in the food & beverages sector. Apart from this, the growing need for increasing the shelf life of food products along with the necessity of avoiding food spoilage will scale up the global market demand. Immense use of vacuum packaging in a slew of end-use sectors such as pharmaceuticals, foods, and consumer goods packaging will spearhead the global market expansion.  

Strategic alliances and mergers & acquisitions are likely to play pivotal roles in the expansion of the global market in the years ahead. For instance, in the first half of 2023, SEE completely acquired Liquibox, a bag-in-box sustainable fluids & liquid packaging. The move is likely to embellish the expansion of the market in the upcoming years. Reportedly, in the third quarter of 2022, Mondi plc, a key player in the packaging & paper sector, entered into a strategic alliance with Handl Tyrol, a key firm manufacturing tyrolean ham and uncooked sausage, for producing a new kind of mono-material polypropylene for purpose of providing high barrier packaging to bacon. Such initiatives will embellish the global market surge in the upcoming years.

Vacuum Packaging Market: Restraints

Growing prices of polypropylene hinder the global industry expansion over the forecast timeline

Huge costs of polypropylene (PP) can halt the expansion of the global vacuum packaging industry over 2023-2030. Apart from this, the humungous cost of the product along with low access to effective healthcare amenities will further retard the expansion of the global industry.

Vacuum Packaging Market: Opportunities

The huge popularity of sustainable packaging to generate new growth avenues for the global market over 2023-2030

Humungous demand for sustainable packaging will open new panoramas of growth for the global vacuum packaging market. An escalating need for retaining the quality & vitality of food products will create new avenues of growth for the global market. A rise in the per capita income and healthcare spending along with swift industrialization in emerging economies will embellish the expansion of the market across the globe.

Vacuum Packaging Market: Challenges

High focus on lightweight packaging to pose a big challenge for the global industry surge by 2030

The growing focus on lightweight packaging is anticipated to pose a huge challenge to the expansion of the global vacuum packaging industry in the years ahead. Disruptions in the supply chain activities will further result in diminishing growth curves of the global vacuum packaging industry in the coming years.

Vacuum Packaging Market: Segmentation

The global vacuum packaging market is sectored into application, material, and region.                  

In material terms, the vacuum packaging market across the globe is segregated into ethylene, polyethylene, vinyl alcohol, and polyamide segments. Furthermore, the polyethylene segment, which acquired nearly two-thirds of the global market earnings in 2022, is predicted to register the fastest CAGR over the forecast timeline. The expansion of the segment during 2023-2030 can be due to a surge in the use of the material in vacuum packaging products. Furthermore, the rising need for low manufacturing costs as well as minimum processing prices prompts the segmental surge.

Based on the application, the global vacuum packaging industry is sectored into food, pharmaceutical, industrial packaging, and others segments. Additionally, the food segment, which acquired a key share of the global industry share in 2022, is anticipated to dominate the industry growth in the coming eight years. The segmental expansion over the forecast timeline can be owing to the rise in the food packaging activities in various kinds of processes such as shrink & skin packaging.

Vacuum Packaging Market: Report Scope

Vacuum Packaging Market: Regional Insights

Asia-Pacific is predicted to retain its leading position in the global vacuum packaging market over the forecast timeline

Asia-Pacific, which contributed about half of the global vacuum packaging market revenue in 2022, will be a leading region over the forecast timeline. Moreover, the regional market surge over the coming eight years is subject to a rise in the demand for products owing to a rise in the global population. Furthermore, an increase in the demand for packaged and convenience food products will embellish the regional market growth trends. A rise in healthcare spending along with surging industrialization in countries such as India and China will proliferate the regional market earnings.

The European vacuum packaging industry is set to record the highest CAGR in the coming eight years. The regional industry expansion over 2023-2030 can be credited to a rise in the focus on thriving packaging & food processing sectors. The need for increasing healthcare activities and the growing use of products in the packaging of pharmaceuticals will steer the regional industry expansion in the years to come.  

Vacuum Packaging Market: Competitive Space

The global vacuum packaging market profiles key players such as:

• Bemis Company Inc.
• Multisorb Technologies Inc.
• Linpac Packaging Limited
• CVP Systems Inc.
• Sealed Air Corporation
• Berry Plastics Corporation
• ULMA Packaging
• Orics Industries Inc.
• Coveris Holdings S.A.
• Amcor Limited

The global vacuum packaging market is segmented as follows:

By Material

• Ethylene
• Polyethylene
• Vinyl Alcohol
• Polyamide

By Application

• Food
• Industrial Packaging
• Pharmaceutical
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa