The Latest Vacuum Skin Packaging Industry Statistics Explained
The global vacuum skin packaging market size was valued at USD 12.48 billion in 2019.
This statistic indicates the total value of the global vacuum skin packaging market in 2019, which was estimated to be USD 12.48 billion. Vacuum skin packaging is a type of packaging technology widely used in the food industry to extend the shelf life of perishable goods by creating a vacuum seal around the product. The market size reflects the total revenue generated from the sales of vacuum skin packaging materials, equipment, and services worldwide in 2019. This figure not only illustrates the scale of the vacuum skin packaging industry but also suggests the significant demand and adoption of this packaging technology by various food manufacturers and retailers globally.
The vacuum skin packaging market is expected to grow at a compound annual growth rate (CAGR) of 6.4% from 2020 to 2027.
The statistic regarding the vacuum skin packaging market growing at a compound annual growth rate (CAGR) of 6.4% from 2020 to 2027 suggests a steady and consistent increase in market size and value over the specified time period. This means that the market for vacuum skin packaging, a method used for extending the shelf life of products, is projected to experience a gradual growth rate of 6.4% per year on average. This growth rate indicates a positive trend in market demand and adoption of vacuum skin packaging technology, potentially driven by factors such as increasing consumer awareness about food safety, rising demand for convenience packaging solutions, and the emphasis on product presentation and shelf appeal.
Related food industry trends, like ready-to-eat meals, are projected to drive 60% of the vacuum skin packaging market growth by 2027.
The statistic indicates that 60% of the growth in the vacuum skin packaging market by 2027 is expected to be driven by related food industry trends, such as the increasing popularity of ready-to-eat meals. This suggests that the demand for vacuum skin packaging, a type of food packaging that extends the shelf life of products by providing a tight seal around the food, is largely influenced by the overall trends within the food industry. The projection underscores the importance of convenience and efficiency in food packaging solutions in meeting the evolving needs and preferences of consumers, particularly in the context of ready-to-eat and on-the-go food options.
North America accounted for the largest revenue share of more than 40.0% in 2019.
This statistic indicates that North America generated the highest proportion of revenue compared to other regions in 2019, accounting for more than 40.0% of the total revenue. This suggests that North America was a significant contributor to the overall financial performance during that year. It could be reflective of a strong economy, robust consumer spending, effective marketing strategies, or a large customer base in North America. Companies operating in this region may have successfully captured a substantial portion of the market share, resulting in the highest revenue share. Understanding this statistic can help companies make informed decisions regarding market expansion, resource allocation, and strategic planning to continue leveraging the opportunities in North America for continued growth and profitability.
The demand for vacuum skin packaging in North America is expected to reach USD 6.86 billion by 2027.
This statistic indicates the projected market size for vacuum skin packaging within North America by the year 2027, estimated to be USD 6.86 billion. Vacuum skin packaging is a popular method in the food industry to extend the shelf life of perishable products by removing air and tightly wrapping the product with a protective film. The significant growth forecasted in this market suggests a growing preference for vacuum skin packaging due to its ability to enhance product presentation, freshness, and preservation. Factors driving this increase in demand could include a rising consumer demand for fresh and convenient food products, an increase in awareness about food safety and sustainability, as well as advancements in technology improving the efficiency and effectiveness of vacuum skin packaging processes.
Asia-Pacific is expected to exhibit the highest CAGR from 2020 to 2027 due to changing consumer lifestyles and rapidly expanding retail outlets.
This statistic predicts that the Asia-Pacific region will experience the highest Compound Annual Growth Rate (CAGR) between 2020 and 2027 compared to other regions. This growth is attributed to changing consumer lifestyles and the rapid expansion of retail outlets in the region. As consumer preferences and behaviors evolve, there is an increasing demand for a wider variety of products and services, leading to opportunities for growth in various industries. The expanding retail sector further drives economic activity by providing consumers with more choices and convenience, leading to an overall increase in spending. This expected growth in Asia-Pacific indicates a promising market outlook for businesses operating within the region during the forecast period.
India’s vacuum skin packaging sector is slated to expand at a 9% CAGR between 2022 and 2026.
This statistic indicates that the vacuum skin packaging sector in India is projected to experience a Compound Annual Growth Rate (CAGR) of 9% over the period from 2022 to 2026. A CAGR of 9% suggests a steady and consistent growth rate for the industry during this timeframe. This growth trend implies that there is increasing demand for vacuum skin packaging solutions in India, possibly driven by factors such as changing consumer preferences, advancements in technology, or growth in the food and beverage sector. The projected expansion in the vacuum skin packaging sector highlights opportunities for businesses operating in this industry to capitalize on the growing market and potentially achieve higher revenues and market share in the coming years.
In terms of value, the meat segment dominated the market with a share of over 55.0% in 2019.
This statistic indicates that in 2019, the meat segment had the highest market share in terms of value compared to other segments within the market. Specifically, the meat segment accounted for more than 55.0% of the total market value during that year. This suggests that meat products were the most significant contributors to the overall revenue generated within the market. The dominance of the meat segment in terms of value highlights its importance and popularity among consumers, as well as its significant presence and impact on the market as a whole in 2019.
The market growth is being driven by the trade of vacuum skin packaged meat, which has grown by 10% overall since 2016.
The statistic indicates that the market growth in the meat industry is primarily fueled by the increasing trade and demand for vacuum skin packaged meat. The data shows a significant growth rate of 10% since 2016, highlighting a growing preference for this type of packaging among consumers. This growth suggests that vacuum skin packaging is becoming more popular and favored in the market, possibly due to its ability to enhance product shelf life, preserve product quality, and reduce food waste. This statistic indicates a positive trend in the meat industry, with vacuum skin packaged meat playing a key role in driving market expansion.
One out of every four sourced vacuum skin packaged products in Europe is seafood.
The statistic “One out of every four sourced vacuum skin packaged products in Europe is seafood” means that 25% of the vacuum skin packaged products sourced in Europe belong to the seafood category. This statistic suggests that seafood is a significant product category within the vacuum skin packaging industry in Europe, with a substantial market share compared to other types of products. This information can be valuable for businesses in the seafood industry looking to understand market trends, competition, and consumer preferences in the European market for vacuum skin packaged products.
In terms of material, polyethylene (PE) led the vacuum skin packaging market with a share of over 43.2% in 2019.
This statistic indicates that among all the materials used in vacuum skin packaging in 2019, polyethylene (PE) was the most dominant, holding a market share of more than 43.2%. This suggests that PE was the preferred material choice for packaging products using the vacuum skin packaging technology during that year. The high market share of PE in the vacuum skin packaging market highlights its popularity and effectiveness in providing quality packaging solutions for various products. This statistic underscores the significant role that polyethylene plays in the packaging industry and its widespread usage due to its favorable properties and performance characteristics.
The PE segment will generate more than $7.4 billion by 2027 in the vacuum skin packaging industry.
The statistic indicates a projected financial growth in the vacuum skin packaging industry, specifically within the PE (polyethylene) segment, forecasting that this particular segment is expected to surpass $7.4 billion in revenue by the year 2027. This data suggests a significant expansion in the market for PE vacuum skin packaging products over the next few years, reflecting a growing demand for this type of packaging solution. Factors contributing to this growth may include increased adoption of vacuum skin packaging technology by various industries, heightened consumer preference for extended shelf life and improved product freshness, and advancements in packaging materials and techniques. The statistic signals a promising outlook for the PE segment within the vacuum skin packaging industry, indicating potential opportunities and profitability for businesses operating in this market segment.
The global vacuum skin packaging market for cheese is projected to reach USD 1000 million by 2024.
This statistic indicates that the global market for vacuum skin packaging specifically for cheese products is forecasted to grow and reach a total value of USD 1000 million by the year 2024. Vacuum skin packaging is a method commonly used in the food industry to extend the shelf life of products like cheese by creating a tight seal that minimizes exposure to oxygen and maintains freshness. The projected growth in this market suggests an increasing demand for cheese products packaged using vacuum skin technology, likely driven by factors such as consumer preference for longer-lasting and well-preserved food items, as well as the convenience and effectiveness of this packaging method in maintaining product quality.
The vacuum skin packaging industry for poultry products is expected to grow at a CAGR of 4.3% from 2019 to 2024.
This statistic indicates that the vacuum skin packaging industry for poultry products is projected to experience a Compound Annual Growth Rate (CAGR) of 4.3% between the years 2019 and 2024. This growth rate suggests a steady increase in the market size and demand for vacuum skin packaging within the poultry industry over the specified time period. Factors such as evolving consumer preferences towards convenient and sustainable packaging solutions, along with the benefits of vacuum skin packaging in preserving the freshness and quality of poultry products, likely contribute to this anticipated growth trend. Companies operating in this sector may consider investing in technology and capacity expansion to capitalize on this expected market growth.
Japan’s vacuum skin packaging market size was estimated to be around $1.6 billion in 2019.
The statistic indicates that the market size for vacuum skin packaging in Japan was estimated to be approximately $1.6 billion in the year 2019. This figure represents the total value of the market in terms of sales revenue generated from vacuum skin packaging products within Japan for that specific year. The market size provides insights into the scale and economic importance of the vacuum skin packaging industry in Japan, highlighting the significant demand and consumption of such products in the country during that period. This information can be valuable for businesses, policymakers, and stakeholders involved in the packaging industry to assess market trends, make informed decisions, and develop strategic plans for growth and investment within this sector.
Italy’s Vacuum Skin Packaging Market was valued at around USD 854.2 Million in 2020.
This statistic indicates that Italy’s Vacuum Skin Packaging Market generated approximately USD 854.2 million in revenue in 2020. Vacuum skin packaging involves tightly wrapping the product in a plastic film, which is then vacuum-sealed to provide a secure and attractive presentation. The market value reflects the total sales revenue generated by companies involved in vacuum skin packaging products and services in Italy during the specified year. Factors contributing to this market value may include consumer demand for convenient and sustainable packaging solutions, advancements in technology, and the overall growth of the packaging industry in Italy.
The growth rate of the vacuum skin packaging market in Latin America was around 7% in 2019.
The growth rate of the vacuum skin packaging market in Latin America was approximately 7% in 2019, indicating a positive trend in market expansion. This statistic suggests that the demand and adoption of vacuum skin packaging technology in the region increased by 7% compared to the previous year. A growth rate of 7% indicates a moderate level of market expansion, which may be attributed to factors such as increasing consumer awareness of sustainable packaging solutions, improved shelf-life and quality of products, and the rising popularity of vacuum skin packaging for various food and non-food products in Latin America. This growth rate signifies opportunities for companies operating in the vacuum skin packaging market to capitalize on the growing demand and potential profitability in the region.
Over the next five years, the Vacuum Skin Packaging will register a 4.5% CAGR in terms of revenue, and the market size will reach USD 1.13 billion by 2025.
The statistic indicates that the Vacuum Skin Packaging industry is projected to experience a Compound Annual Growth Rate (CAGR) of 4.5% over the upcoming five years, leading to a significant increase in its revenue. This steady growth trend suggests a positive outlook for the market, with the revenue expected to reach USD 1.13 billion by the year 2025. These figures underscore the growing demand and adoption of Vacuum Skin Packaging solutions, possibly driven by factors such as increasing consumer preference for sustainable and convenient packaging options, improved food preservation techniques, and the rise of e-commerce and online grocery shopping.
References
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