Vacuum packaging extends the shelf life of the product by more than 50% compared to normal shelf life. The continuous change in consumer trends for ready-to-go packages and lightweight packages are some of the key drivers of the vacuum packaging market. The use of innovative technology helps in reducing packaging costs, distribution costs and shelf life, which overall contributes to the profit of the product. Moreover, vacuum packaging is used to lower retailer food loss from 10% to less than 5%.
Some advantages of vacuum packaging include:
- An easy solution for packaging goods requiring protection from oxygen
- Reduce the moisture content of the produce
- Impedes the increase of aerobic spoilage bacteria
- Longer shelf life for goods
Read: Vacuum Packaging Market – Global Outlook and Forecast 2020-2025
Impact of COVID-19 on the Vacuum Packaging Market
The consumer expenditure on food products has been increased to around 15-20% on grocery dry goods since the COVID-19 outbreak. In March 2020, grocery markets have grown tremendously, due to implementation of nationwide lockdown across countries and allowing only food industry to continue their sales. However, short term decline is expected to be witnessed during COVID-19 in the packaging industry including vacuum packaging market. Along with offline retail market, the online retail has also been growing significantly during the pandemic with larger sales in grocery market, which is also expected to contribute in the overall revenue of vacuum packaging market.
Increased Product Shelf-Life
Vacuum packaging allows extended shelf life for food products especially during the distribution chain and marketing, as it provides additional time to reach new geographies with longer display time. With the growing demand for case ready packaging, ready-to cook and more convenient products, the demand for vacuum packaging, particularly in food packaging is expected to increase. As vacuum packaging prevents discoloration, there has been huge scope to use vacuum packaging for tropical fish food by extending the shelf life. Not only vacuum packaging has been beneficial for food products but also for agricultural and other products. Packaging for dry foods such as seeds, snack foods and others in flexible films and laminates, transparency, protection against moisture and other functionalities are the key factors driving vacuum packaging market. Some of the most prominent players in the vacuum packaging market are Sealed Air, Amcor, Berry Global, and Winpak.
Read: Flexible Packaging Market in Europe – Industry Outlook and Forecast 2020-2025
Important Question in Vacuum Packaging Market are
Q) What is the market size of vacuum packaging?
A) The vacuum packaging market size is expected to reach $20 billion by 2020.
Q) What is the market share of vacuum packaging?
A) The growth in the global vacuum packaging market is linked to the performance of the economy in general, and hence, it is necessary for vendors to diversify or expand the scope/scale of operations.
Q) What is the market growth of vacuum packaging?
A) The vacuum packaging market is projected to grow at a CAGR of over 5% during 2019-2020.
Q) What is the market insight of vacuum packaging?
A) With the growing demand for flexible packaging, vacuum packaging by flexible pack type is also expected to see high surge in sales during Q2-Q3 2020.
Q) Who are the top vendors in the vacuum packaging market?
A) The top vendors in the vacuum packaging market are Sealed Air, Amcor, Berry Global, and Winpak.
Q) What is the vacuum packaging market segmentation?
A) This vacuum packaging market research report includes a detailed segmentation by material, pack, end-user, and geography.
Q) What are the opportunities available in the vacuum packaging market?
A) Some of the opportunities in the vacuum packaging market are high barrier plastics, demand for lightweight packaging, and eco-friendly vacuum packaging.
Q) What are the major challenges faced by the players in the vacuum packaging market?
A) The major challenges in the vacuum packaging market are growing environmental awareness about plastic, competitive marketplace, and challenge faced in vacuum packaging of beef products.
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