According to the report of Transparency Market Research, the global vacuum packaging market
has highly consolidated vendor landscape. Some of the companies
operating in the vacuum packaging market are Sealed Air Corporation,
Amcor Limited, Mondi Group, Bemis Company, Inc., Berry Global, Inc., and
Wipak Group. These players collectively accounting for higher share in
the global vacuum packaging market. These companies are increasingly
opting for business strategies like acquisitions and mergers which is
leading to further consolidation of market. However, high number of new
entrants in market, can lead to fragment the competitive landscape of
market.
TMR predicts, the global vacuum packaging
market was valued at US$15.0 bn in 2015, and is predicted to attain
valuation of US$22.8 bn over the forecast period from 2016 to 2024 by
rising at a CAGR of 4.9% over the forecast period. Based on material
type, the polyethylene (PE) segment is dominating the global market for
vacuum packaging market. This segment accounted for 38% of total market
share in 2016 and expected to remain dominant over the forecast period
by expanding with 4.6% of the CAGR over the forecast period from 2014 to
2024.
Growing Uptake of Vacuum Packaging in Numerous End Use Industries to Propel Growth
Increasing consumption of packaged and
processed food coupled with growing awareness toward the hygiene and
food safety is fuelling growth of the market. Additionally, rising
disposable income coupled with willingness to spend for processed and
hygienic food are supporting growth of the market for vacuum packaging.
Request to View Brochure of Report@ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=16151
Additionally, the factors such as growing
demand for vacuum packaging from food and beverage industry owing to
its advancements and advantages in packaging. These packaging systems
are able to preserve the food for long time owing to its proper grip.
These factors are fuelling growth of the vacuum packaging market.
Additionally, demand for vacuum packaging is growing from the
pharmaceutical industries is another factor influencing growth of the
global vacuum packaging market.
Growing Innovation and Product Advancement to Offer Opportunities
Despite these factors, high cost of
vacuum packaging limiting growth of the vacuum packaging market.
Nonetheless, many market vendors are focusing on the product improvement
for making an offer of innovative solutions on effective packing. The
advancements in the products are solely aimed at catering to the
functional needs of end-users, mainly in the beverages & food
segment. Additionally, a large chunk of end users are increasingly
designing specializing the innovative solutions are offering growth
opportunities over the forecast period.
0 comments:
Post a Comment