As per FMI, the total sales of barrier shrink bags for the year 2023 are estimated to be around US$ 2,112.3 million. The overall barrier shrink bags market is anticipated to grow at a 5.9% CAGR over the course of the forecast year.
Plastic shrink films or other materials can be used to create barrier shrink bags, a sort of flexible packaging solution. When heat is applied, it contracts around the product like a second skin, which makes it ideal for the packaging of food items derived from animals.
Global consumer concerns about food safety, hygiene, and convenience are growing, which is having an effect on the packaging sector as a whole. One of the most important requirements for the marketing of food products made from plants and animals is shelf life.
The barrier shrink bags possess properties that protect packaged food items against external gases, moisture, aroma, and other factors. In addition to this, the barrier shrink bags protect the product throughout the distribution process and extensive supply chains. Moreover, all such bags are also easily printable rendering more desirable visual attractiveness for the product which may attract customers.
Request for a Sample of this Research Report:
https://www.futuremarketinsights.com/reports/sample/REP-GB-5613
Key Takeaways:
The North American region is projected to remain a very lucrative market for barrier shrink bag manufacturers in comparison to the other geographical regions. The United States and Canada together hold around 27.2% of the market value share as per the 2022 survey report.
European countries, including Germany, France, Italy, and the United Kingdom, constituted around 33.2% of the global market share. Germany produces a huge amount of barrier shrink bags supplied to Europe and contributes around 4.3% to the global market revenue.
The demand for barrier shrink bags in the United Kingdom is projected to grow at an annual average rate of 5.7% through 2033.
China and India are two emerging countries in the production of barrier shrink bags in Asia besides Japan having a global market share of 2.3%. China is anticipated to register an annual average growth rate of 7.1% while India may register a growth rate of 6.3% through 2033.
The high barrier shrink films type segment was found to hold around 54.7% of the market value share by the end of 2022.
Based on different applications of barrier shrink bags, the meat packaging segment remains generated 47.2% of the overall revenue.
Leading Key Players:
Amcor plc.
Sealed Air Corporation
Winpak Ltd.
Kureha Corporation
Schur Flexibles Group
Flavorseal LLC
BUERGOFOL GmbH
Flexopack S.A.
Globus Group
Allfo Vakuumverpackungen Hans Bresele Kg
PREMIUMPACK GmbH
Kuplast
Vac Pac Inc.
Vector Packaging Inc.
Astar Packaging Pte Ltd.
Millepack SRL
Spektar d.o.o.
Competitive Landscape for the Barrier Shrink Bags Market Players:
The overall market is highly consolidated with the top 5 companies estimated to hold 40 to 45% of the market in 2022.
The increase in demand for various frozen foods and other food items during the COVID pandemic propelled the demand for barrier shrink bags. The use of barrier shrink bags also gave rise to the demand for barrier-coated papers which are also convenient for packaging food products.
Currently, barrier shrink bags are getting made from different plastic materials as per the requirement of diverse end uses and applications. On the other hand, mandates on the use of carbon polymers are expected to greatly determine the future landscape for market competitors.
Seize this Opportunity: Buy Now for a Thorough Report:
https://www.futuremarketinsights.com/checkout/5613
Market Segmentation:
By Barrier Type:
· High Barrier Shrink Bags
· Ultra High Barrier Shrink Bags
By Application:
· Meat Packaging
· Seafood Packaging
· Poultry Packaging
· Cheese & Dairy Products Packaging
· Other Products Packaging
By Product Type:
· Round Bottom Sealed Shrink Bags
· Straight Bottom Sealed Shrink Bags
· Side Sealed Shrink Bags
By Material Type:
· Polyethylene (PE)
o Low-density Polyethylene (LDPE)
o Linear Low-density Polyethylene (LLDPE)
· Polypropylene (PP)
· Polyamide
· Ethylene Vinyl Alcohol (EVOH)
· Polyvinylidene Chloride (PVDC)
· Other Materials
By Thickness:
· Up to 50 microns
· 51 to 70 microns
· 71 to 90 microns
· 91 to 110 microns
· Above 110 microns
By Abuse Strength:
· High Abuse Shrink Bags
· Low Abuse Shrink Bags
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
