The vacuum packaging market in Europe is expected to grow by USD 1.16 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters with a limited impact on the full-year economic growth.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201007005541/en/
Technavio has announced its latest market research report titled Vacuum Packaging Market in Europe 2020-2024 (Graphic: Business Wire)
Request challenges and opportunities influenced by COVID-19 pandemic Request a Free Sample Report on COVID-19 Impacts
The need to extend the shelf life is crucial in the packaging industry as it helps manufacturers keep products viable for sale for a longer time. It also ensures that the product reaches its destination before it perishes, thus reducing wastage. Vacuum packaging is effective in increasing the shelf life of products. It involves blocking of the air in the package and prevents the gas from leaking, thereby increasing the shelf life of products. Therefore, the rising focus on improving the shelf life of products is expected to drive the growth of the vacuum packaging market during the forecast period.
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44408
As per Technavio, the growth in demand for sustainable packaging solutions will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Vacuum Packaging Market in Europe: Growth in Demand for Sustainable Packaging Solutions
Growing concerns regarding the use of plastic and its impact on the environment have led to the introduction of new regulations that are compelling manufacturers to look for safe and sustainable packaging options. This is forcing vendors in the market to develop sustainable packaging solutions that use fewer materials and energy to manufacture, reduce transportation costs, and offer extended shelf life. For instance, in January 2018, Amcor pledged to make its products reusable or recyclable by 2025. Similarly, in July 2019, Berry Global Inc. (Berry Global) signed the New Plastics Economy Global Commitment to eliminate plastic pollution at its source. Such developments among vendors are expected to have a positive impact on the growth of the vacuum packaging market during the forecast period.
"The growing usage of high barrier plastics and the rising popularity of frozen food and ready meals will further boost market growth during the forecast period", says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 17,000+ market research reports
Technavio's SUBSCRIPTION platform
Vacuum Packaging Market in Europe: Segmentation Analysis
This market research report segments the vacuum packaging market in Europe by Raw Material (Polyethylene, Polyamide, EVOH, and Others) and Geography (Germany, UK, Russian Federation, and Rest of Europe).
Germany led the vacuum packaging market in Europe in 2019, followed by the UK, Russian Federation, and Rest of Europe respectively. However, during the forecast period, the Rest of Europe region is expected to register the highest incremental growth due to the increased consumption of organic, natural, healthy, and locally sourced products.
Technavio's sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201007005541/en/
Contacts:
Technavio Research
Jesse Maida
Media Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
