Global market for vacuum packaging 2016-2022

According to a new report by Stratistics MRC the global vacuum packaging market is estimated at $23.56 billion in 2016 and is expected to reach $32.12 billion by 2022 growing at a CAGR of 5.3% from 2016 to 2022. Some of the key factors influencing the market growth include increasing household income as well as liking to spend for hygienic food, robust consumption of convenience and processed food and rapid industrialization in developing economies. Moreover, emergence of new technologies provides huge growth opportunities in the coming years. However, high cost of development and variation in environmental mandates across regions are some factors hampering the market growth.
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