Global Vacuum Packaging Market to Hit USD 28 Bn Mark by 2023, States MRFR in Its Novel Report Recently Published at MarketPublishers.com
12 Jul 2017 • by Natalie Aster
LONDON – Driven majorly by factors like rising consumption of processed foods and beverages, surging urbanization, rapid industrialization and increased attention from the government and strict governmental policies associated with food safety, the global vacuum packaging market is poised to grow at a healthy CAGR of 4.89% and to amount to USD 28.67 billion by the year 2023.
Based on types, the polyethylene (PE) packaging segment is anticipated to grow at the highest rate, showcasing a CAGR of more than 5% through 2023. In terms of end-users, the food segment captures the mammoth share of the total market; this segment is predicted to see growth at a 5.16% CAGR through 2023.
Regionally, APAC dominated the world market for vacuum packaging in terms of value in 2016, the region captured a share of more than 32%. The APAC vacuum packaging market is likely to show robust growth at a 5.31% CAGR in the coming years. The North American vacuum packaging market is forecast to reach USD 6.87 billion, demonstrating almost 5% CAGR till 2023.
The topical research publication “Global Vacuum Packaging Market– Trends & Forecast, 2016-2023” prepared by MRFR is a great source of trustworthy and relevant data on the world’s market for global vacuum packaging. It provides a profound analysis of the market segments and uncovers info on the market size, value and volume. The report also delves deep into the market dynamics, covers the market growth driving and restraining forces. Moreover, historical and current market performance and trends are examined in the report along with an insightful overview of the actual scenario across the major geographical markets. Additionally, this cutting-edge research publication traces light on the competitive environment of the market, presents detailed profiles of the most prominent market participants (evaluating their market shares, covering key competencies, disclosing financial details, discussing strategies and reviewing product portfolios). In addition, a future outlook through 2023 is at hand in this research report.
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