Vacuum Skin Packaging Market Expected to Reach USD 18,392 Mn by 2023 with a CAGR of 5.77% : MRFR Analysis

Market Research Future published a research report on “Vacuum Skin Packaging Market – Global Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast.

Global Vacuum Skin Packaging Market Information Report by Material (Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride (PVC) and Other), by Application (Meat, Poultry, Cheese and others) and Region – Global Forecast To 2023

Market Scenario

Vacuum packaging is a technique predominantly used in the food industry with the intension of reducing or preventing the spoilage of food which may otherwise result in the loss of taste and in its textural quality. Furthermore, vacuum skin packaging effectively maintains the nutritional value of food. Increasing consumption of meat and poultry is the primary driving factor of the market. Additionally, growth in the retail sectors/increasing number of retails outlets also fuelling the growth of the market. The retail sector is booming, owing to factors such as favourable demographics, rising consumer incomes and real estate developments, especially the emergence of new shopping malls. However, stringent regulations on packaging material waste and recycling is the factor that may hamper the growth of the market.

The global vacuum skin packaging market is expected to reach USD 18,392 million by 2023 with a CAGR of 5.77%.          

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Regional Analysis

On basis of region, Asia-Pacific accounted for the largest market share of 36.26% in 2016, and is projected to grow at the highest CAGR of 6.08% during the forecast period. The rising population of the region, along with high disposable income and the demand for safe & hygienic packaging of products are factors driving the growth of the vacuum packaging market in this region. North America was the second-largest market in 2016, valued at USD 3,889.2 million in 2016.

Key Players

The key players of global vacuum skin packaging markets are Bemis Company Inc. (U.S.), Berry Global Group, Inc. (U.S.), LINPAC Packaging Limited (U.K.), Amcor Ltd. (Australia), Sealed Air Corporation (U.S.), DuPont (U.S.), G. Mondini SA (Italy), Green Packaging Material (Jiangyin) Co., Ltd. (China) and others.

Intended Audience

  • Distributer & Supplier companies
  • End Users
  • Consultants and Investment bankers
  • Government as well as Independent Regulatory Authorities

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The report for Global Vacuum Skin Packaging market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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