Study: Vacuum packaging market to be worth $22.8B by 2024
Surge in disposable incomes and readiness to spend for protected and clean food are expected to drive industry development.
The global vacuum packaging market is anticipated to show positive growth in the upcoming years, according to Transparency Market Research (TMR), Albany, N.Y. The vendor landscape of the global vacuum packaging market currently features high levels of consolidation. Yet, there is expected to be an influx of new players in the industry over the coming years, on account of high demand of hygienic features by conscientious consumers. Several established and multinational vendors in the market are expected to invest heavily in research and development activities over the coming years to provide solutions that offer a better shelf life for consumables and meet demands for end-users in the food and beverage industry.