Vacuum packaging has become a promising packaging solution to ensure product safety for longer durations. The growing awareness of safe and high-quality packaged food in emerging economies is one of the major driving forces contributing significantly towards the growth of the vacuum packaging industry. Consumer expectations regarding hygienic packaging of products is on a continual rise as they expect their products to be healthy, safe, minimally processed, and attractively packed, while at the same time, they want more convenient, easy-to-serve products with good storage characteristics. They also want the products to be of optimum quality and freshness. Vacuum packaging, through removal of moist air, ensures good product quality and extended shelf-life, thus gaining high demand in the packaging industry.
The vacuum packaging market is estimated to reach a market value of USD 27.67 billion by 2020. Vacuum packaging finds wide application in food, pharmaceuticals, industrial goods, and consumer goods. It plays a vital role in preserving perishable products from outside influences & damage and retains the quality and freshness for longer durations by inhibiting the growth of spoilage organisms, which in turn helps reduce waste caused due to spoilage. The objective of the vacuum packaging market is to provide a cost-effective packaging solution that satisfies the industry requirements and consumer desires, maintains product safety, and minimizes any environmental impact.
Market leaders in the vacuum packaging industry have a diversified product portfolio, capital for extensive research & development, and the financial strength to sustain them. Since the production of vacuum packaging requires a large space and expensive equipment, new entrants find it hard to compete against established players. New product launches and expansions are the key strategies adopted by market players to expand their business in the vacuum packaging market.
The key players in the vacuum packaging market include Amcor Limited (Australia), Bemis Company, Inc. (U.S.), Berry Plastics Corporation (U.S.), Sealed Air Corporation (U.S.), Linpac Packaging Limited (U.K.), Multisorb Technologies, Inc. (U.S.), Coveris Holding SA (U.S.), CVP Systems Inc. (U.S.), Ulma Packaging, and SCOOP (Spain), and Orics Industries, Inc. (U.S.).
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