Technavio market research analysts forecast the global vacuum packaging market to grow at a CAGR of close to 4% during the period 2018-2022, according to their latest report.
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Technavio has published a new market research report on the global vacuum packaging market from 2018-2022. (Graphic: Business Wire)
This market research report segments the global vacuum packaging market based on geography, which includes key regions such as the Americas, APAC, and Europe.
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In this report, Technavio analysts highlight the growth in global demand for hygienic and convenient packaging as a key factor contributing to the growth of the global vacuum packaging market:
Growth in global demand for hygienic and convenient packaging
Unprotected packaged food is susceptible to cross contamination as well as microbiological contamination. Also, the use of inappropriate wrapping packaging materials leads to chemical contamination that directly affects the food that is packaged in it. Therefore, as there is an increase in health consciousness among consumers across the world, the demand for hygiene packaging is also increasing. Vacuum packaging protects the fresh food products from getting in contact with atmospheric gas. This further helps in extending the shelf life of the food. Thus, the increased demand for hygienic packaging is expected to accelerate the growth of the global vacuum packaging market during the forecast period.
Another major factor driving the global vacuum packaging market is the increasing need for customer convenience. The packaging industry is witnessing a change in the demand from customers and is trying to cater to these changing preferences. There is a significant increase in the demand for convenience in daily consumption products such as food and beverages. Hence, the food and beverages industry is increasingly adopting convenience packaging for its products to attract customers.
According to a senior analyst at Technavio for packaging, "Vacuum packaging is a suitable and convenient packaging material for fresh food products. Vacuum packaging is projected to experience tremendous growth rate during the forecast period. The global fresh food packaging market is estimated to experience growth during the forecast period. This is expected to increase the growth of the global vacuum packaging market."
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Global vacuum packaging market segmentation
APAC was the leading region for the global vacuum packaging market in 2017, accounting for a market share of close to 39%. Europe held the second largest share in the global vacuum packaging market, and it was followed by the Americas that held the least share in the market. Developed countries such as the US and Canada are expected to contribute to the global vacuum packaging market during the forecast period. Furthermore, the demand for vacuum packaging is increasing significantly in China and India.
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