Global Vacuum Skin Packaging Market: Snapshot
The global vacuum skin packaging market is fragmented in nature in which the top 12 players account for just 12.0% of market share. In order to bolster their positions most players have been resorting to product innovation by investing in research and development.
There are many factors resulting in the sales of vacuum skin packaging. At the forefront of them is their ability to prevent wastage of food by reducing the chances of leakage and keeping its quality intact for longer periods of time. This coupled with their ease of usage reduces maintenance costs. Vacuum skin packaging also makes the packed product visible which makes it easier for discerning consumers to gauge the quality of the food.
Constant thrust on research and development to come up with better, innovative products is also seen to be boosting the market. Take for example the vacuum skin packed food in dual-ovenable or microwave- only technologies that has served to up ease of usage, resulting in their higher uptake by among consumers who are hard pressed for time.
Acting as a deterrent to the global vacuum skin packaging market, on the other hand, is the emergence of substitutes such as modified atmospheric packaging and also concerns over the quality of food, especially meat that has been kept packed for long.
A report by Transparency Market Research forecasts the global vacuum skin packaging market to rise at a CAGR of 6.0% from 2017 to 2025 to become worth US$36 bn by 2025.
Fresh Produce Segment to Surpass Others Vis-à-vis Growth
The different end-use sectors in the global vacuum skin packaging market are meat, poultry, seafood, dairy products, fresh produce, and ready meals, among others. Of them, the segment of fresh produce is predicted to clock the maximum CAGR of 7.1% between 2017 and 2027 as it needs most to be preserved. However, it is the meat packaging segment that accounts for maximum market share at present. Going forward it is expected to retain its dominant share in the market, albeit trimming it. The report by TMR expects the segment to hold 27.9% share in 2025. Meat poultry and sea food combined are expected to account for over two thirds of the vacuum skin packaging market.
Burgeoning Modern Retail Outlets Catapult Asia Pacific Market to Forefront
From a geographical standpoint, Asia Pacific accounts for a leading share in the global vacuum skin packaging market. Expanding at a CAGR of 8.2%, the region is slated to increase the share further to 41.6% by 2025. With increasing penetration of modern retail outlets in Asian region the demand for vacuum skin packaging is set to increase over the forecast period. The market in the region is primarily powered by China which accounts for mammoth share in the market.
North America trails Asia Pacific in terms of market share in the global vacuum skin packaging market. Rising at a tepid CAGR of 4.8%, the market will likely trim its share in the near future. The U.S. is the main market in the region that far surpasses Canada both in terms of value and volume. Europe comes in the third position vis-à-vis market share and is slated to expand at a CAGR of 4.0% between 2017 and 2025.
Prominent participants in the global vacuum skin packaging market are Sealed Air Corp., Amcor Limited, Bemis Company, Inc., Berry Plastic Group, Inc., Winpak Ltd., LINPAC Packaging Limited, MULTIVAC, Plastissimo Film Co., Ltd., Schur Flexibles Holding GesmbH, Plastopil Hazorea Company Ltd, and Quinn Packaging Ltd.
Global Vacuum Skin Packaging Market: Snapshot
Vacuum skin packaging is usually used for food products that are easily perishable such as meat and fish. It helps in increasing their shelf life of the specific food products. These days the incidences of food wastage are becoming increasingly common. The global market for vacuum skin packaging is expected to witness a great surge over the coming years of forecast due their ability to cut down food wastage and sustaining the quality of the food products.
The global market for vacuum skin packaging could be segmented in terms of the different product types and types of material used. The global market could also be segmented in terms of the barrier, layer type, end use of these packaging, and geographical region. Such in depth and precise market segmentation of the global vacuum skin packaging market offered by the report helps in grasping the overall growth prospects and the future outlook of the multiple segments of the market and hence, helping the potential buyers to make informed decisions while investing in the market.
The report on vacuum skin packaging market offers the analysis and forecast on an international level. It offers historical data of the year 2016 along with the projected information of 2017, and a forecast information up to year 2025 in terms of volume (‘000 tons) and revenue (US$ Mn). The report also consists of micro as well as macro-economic directives along with a future outlook on the consumption pattern of vacuum skin packaging market across the world. The report also offers key driving and restraining factors for the growth of the global vacuum skin packaging market and their effect on every region over the course of the given forecast period. The report also involves study of the present challenges with the end users and the opportunities that may come up for the manufacturers of vacuum skin packaging market. The report also gives the value chain analysis of the market. The research report on the global market for vacuum skin packaging offers crucial growth prospects and prominent trends and opportunities that may come up in the market over the course of the given forecast period. The research report is the result of in-depth and extensive primary as well as secondary research methodologies backed by crucial market insights offered by the industry professionals.
Global Vacuum Skin Packaging Market: Trends and Opportunities
One of primary driving factors for the growth of the global vacuum skin packaging market is its capacity to improve the life on shelf of ready meals and meat products, which are easily perishable. This is due to vacuum skin packaging prevents the flow of oxygen inside the packaging and thus slows down the rate of deterioration of the packaged product. These features also help in cutting down the wastage of food that is fast becoming an increasing concern all across the globe. The global market for vacuum skin packaging is also expected to be driven due to its cost effective nature, overall convenience in handling of packaged products at the time of transport, and appealing visibility of products.
Global Vacuum Skin Packaging Market: Geographical Segmentation
The global market for vacuum skin packaging can be segmented into key regions such as North America, Europe, Asia, the Middle East and Africa, and Latin America. Of these mentioned regions, the Asia Pacific market is expected to dominate with estimated market share of 41.6% by the end of the forecast period in 2025. This growth is attributed to the growing penetration of urban retail outlets in the region which are augmenting the demand for vacuum skin packaging.
Global Vacuum Skin Packaging Market: Vendor Landscape
Some of the key players in the global vacuum skin packaging market include names such as LINPAC Packaging Limited, Berry Plastic Group Inc., Bemis Company, Plastopi Hazorea Company Ltd., and Quinn Packaging Ltd. among others.
Vacuum skin Packaging Market – By Product Type
- VSP Films
- Trays & Films
Vacuum skin Packaging Market – By Material Type
Vacuum Skin Packaging Market – By Barrier Type
- Low Barrier
- Medium Barrier
- High Barrier
- Ultra High Barrier
Vacuum Skin Packaging Market – By Layer Type
- 3 Layer
- 5 Layer
- 7 Layer
- Trays (Monolayer)
Vacuum Skin Packaging Market – By End Use Type
- Dairy Products
- Fresh Produce
- Ready Meals
Vacuum Skin Packaging Market – By Region Type
- North America
- Latin America
This report gives access to decisive data, such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report include:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments