Global vacuum packaging market is expected to reach over USD 30 billion by 2022 growing at an estimated CAGR of over 4% over the forecast period. Increasing demand for hygienic packaged food is expected to propel the product demand over the next seven years. Vacuum packing ensures hygiene, product safety, and freshness for a longer duration.
The market has been growing in line with food packaging market. Increasing consumption of processed and convenience food has been a major driving factor, affecting the product demand. Ease of handling, portability, and flexibility has increased packaged food popularity. This technique ensures shelf life extension with high sterile environment, which prohibits food spoilage.
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Food safety and hygiene have become consumer’s top priority and vacuum packing technique helps fulfilling this requirement. Increasing disposable income and willingness to spend for safe and hygienic food are expected to drive industry growth over the forecast period. Growing pharmaceutical industry is also expected to fuel the demand.
This technique is used in various end-use industries such as food, pharmaceutical, industrial, and consumer goods packing. High growth of end-use industries is expected to propel the demand over the next seven years. Increased disposable income, healthcare expenditure, rapid industrialization in developing economies, and increased population are some of the factors driving the end-use industries, which in turn are expected to fuel product growth over the forecast period.
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On the basis of application, the market is segmented as food, pharmaceutical, industrial packaging, and other applications. Food packaging holds maximum share and is expected to retain its dominance over the forecast period. Various processes used in the technique include skin and shrink packaging.
Machinery used is segmented as thermoformers, external vacuum sealers, tray-sealing machine, and other machines. On the basis of pack type, the market is segmented as flexible, semi-rigid, and rigid packaging. Flexible packing is mostly used for packaged food, and thus, is expected to grow in proportion with food packaging industry growth.
On the basis of material, the market is segmented as polyethylene, polyamide, ethylene, and vinyl alcohol. Polyethylene holds maximum share in the global vacuum packaging industry and is expected to reach over USD 12 billion by 2020. Polyethylene is also expected to witness maximum growth rate over the forecast period.
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