Global Shrink Bags Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
Global Shrink Bags Market: Overview
“The global Shrink bags Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Shrink bags or shrink wrap which is made out of thin plastic material, high-clarity 100-gauge PVC that shrinks and tightens when the heat is applied.
Shrink bags are useful for sealing gifts, bags, important papers, or any other item which needs protection for packaging, shipping, or storing. These bags are excellent for shipping magazines, shipping books, and many other small flat items.
These shrink bags offer protection from dirt, bugs, mold, debris, or any other damage. The shrink bag is similar to the regular vacuum pouch useful for storing poultry products.
Global Shrink Bags Market: Dynamics
Increasing extensive growth in the retail sector, an increasing number of health problems and changing lifestyle across the globe are the major factors expected to drive the growth of the global shrink bags market. In addition, increasing disposable income among the middle-class income group is one of the other factor expected to drive demand of the target market.
Furthermore, increasing consumption of the poultry products across the globe and increasing demand for contamination-free food packaging products are the factors which are driving the growth of the global shrink bags market. However, intense impact on nature as these shrink bags are non-reusable in nature is the factor that hampers market growth over the forecast period.
Rapidly increasing bone meat production and consumption in the Middle East and European countries, which is resulting in higher usage of shrink bags. The aforementioned can create a lucrative opportunity for various players operating in the global shrink bags market.
Global Shrink Bags Market: Segment Analysis
Among the barrier type segment, the low barrier segment is dominating over the forecast period. Among the product type segment, the round bottom segment is dominating over the forecast period due to these shrink bags are used for shipping large pieces of meat and increasing usage for export purpose. Among the material type segment, the PVC segment is dominating over the forecast period because it has long shelf life food products. Among the application segment, the online sales channel segment is dominating over the forecast period due to the increasing consumption of poultry products across the globe and an increasing number of meat and poultry industries.
Global Shrink Bags Market: Regional Analysis
Currently, the North America market accounts for the major market share and is expected to drive growth over the forecast period as this region. This is attributed to the rising consumption of dairy and poultry products such as meat etc. in countries in this region. Asia Pacific market is likely to register the fastest growth due extensive evolution of the retail sector in the growing economies such as India & China in this region especially in China and India is a factor expected to drive the growth of the target market in the Asia Pacific region.
Global Shrink Bags Market Segmentation:
Segmentation by barrier type:
- Low Barrier
- Medium Barrier
- High Barrier
- Ultra High Barrier
Segmentation by product type:
- Round Bottom
- Straight Bottom
- Side Sealed
Segmentation by material type:
Segmentation by application:
- Cheese & Dairy
- Other foods
- Cosmetics & Personal care
- Healthcare & Pharmaceuticals
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Bemis Company, Inc.
- Kureha Corporation
- Sealed Air Corporation
- Winpak Ltd.
- Flexopack S.A.
- Coveris Holdings SA
- PREMIUMPACK GmbH
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