The demand for vacuum shrink bags is anticipated to grow at an average CAGR of 4.9% during 2022-2032. The vacuum shrink bags market size is projected to reach US$ 1,325.8 Million in 2022 and is likely to surpass US$ 2,139.1 Million by 2032.
Vacuum shrink bags have revolutionized the food packaging industry by providing a solution that helps increase the shelf life of products. With the world becoming more health-conscious and environmentally conscious, vacuum shrink bags have gained tremendous popularity in recent years. The vacuum shrink bags market is projected to grow at a CAGR of 3.6% during the forecast period 2021-2026. In this article, we will explore the various factors driving the growth of the vacuum shrink bags market, as well as the challenges faced by the industry.
Vacuum shrink bags are made of high-quality plastics and are used to package various food items, such as meat, poultry, cheese, and vegetables, among others. These bags have a unique property of contracting when subjected to heat, creating a vacuum-sealed environment inside the bag. This vacuum environment helps increase the shelf life of products, preserving the freshness, flavor, and texture of the food items.
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Factors Driving the Growth of the Vacuum Shrink Bags Market
- Increasing Demand for Food Preservation- The primary factor driving the growth of the vacuum shrink bags market is the increasing demand for food preservation. The use of vacuum shrink bags helps preserve the freshness, flavor, and texture of food items, increasing their shelf life. This is particularly important in the case of perishable food items such as meat and poultry, which have a short shelf life. Vacuum shrink bags help extend the shelf life of such food items, reducing food waste and increasing their availability for consumers.
- Growing Demand for Ready-to-Eat Meals- The growing demand for ready-to-eat meals is another factor driving the growth of the vacuum shrink bags market. With the busy lifestyles of consumers, the demand for convenient and easy-to-prepare meals has increased. Vacuum shrink bags are used to package ready-to-eat meals, providing a convenient and safe packaging solution that helps preserve the quality of the food items.
- Technological Advancements in Packaging Solutions- The vacuum shrink bags market has benefited from technological advancements in packaging solutions. The use of high-quality plastics and the development of specialized vacuum shrink bag equipment have improved the quality of the packaging solution. This has helped increase the shelf life of food items, providing consumers with fresher and more flavorful products.
- Environmental Concerns- With the growing concern for the environment, the vacuum shrink bags market has responded by providing eco-friendly options. Manufacturers are now producing vacuum shrink bags made from recyclable materials, reducing the impact of packaging waste on the environment. This has helped the industry gain popularity among environmentally conscious consumers.
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Vacuum Shrink Bags Market: Segmentation
Valuable information covered in the FMI’s Vacuum Shrink Bags market report has been segregated into key segments and sub-segments.
Key Segments
By Material Type:
- Polyethylene (PE)
- Polypropylene (PP)
- Polyamide (PA)
- Bi-axially Oriented Polyethylene Terephthalate (BOPET)
- EVOH
- Inorganic Oxide Coatings
- PVDC
By Barrier Type:
- Low Barrier (1000 to 100 cc-mil/m2-atm)
- Medium Barrier (100 to 50 cc-mil/m2-atm)
- High Barrier (50 to 0.1 cc-mil/m2-atm)
- Ultra High Barrier (0.1 cc-mil/m2-atm)
By Thickness:
- Up to 50 microns
- 50 to 70 microns
- 70 to 90 microns
- 90 to 110 microns
- Above 110 microns
By Application:
- Food
- Electronics
- Cosmetics & Personal Care
- Homecare
- Healthcare
- Industrial
- Others
Vacuum Shrink Bags Market: Competition Analysis
The FMI’s study presents a comprehensive analysis of global, regional, and country-level players active in the Vacuum Shrink Bags market. Competitive information detailed in the Vacuum Shrink Bags market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of each market player. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Vacuum Shrink Bags market report.
Key players covered in the report include:
- Sealed Air Corp.
- Atlantis-Pak Co. Ltd.
- Duropac, Coveris Holdings S.A
- Bemis Company Inc.
- Supralon International AG
- Flexopack SA
Important Questions Answered in the Vacuum Shrink Bags Market Report
- Which end user remains the top revenue contributor in different regional markets?
- At what rate has the global Vacuum Shrink Bags market been expanding during the forecast period?
- How will the global Vacuum Shrink Bags market look like by the end of the forecast period?
- What innovative strategies are adopted by Vacuum Shrink Bags market players to stay ahead of the pack?
- What are the restraints affecting the growth of the global Vacuum Shrink Bags market?
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Key Offerings of the Report
- Growth Drivers and Opportunities: Comprehensive analysis on growth-driving factors and opportunities for market players in different regional markets
- Recent Trends and Forecasts: Detailed assessment on the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
- Segmental Analysis: Extensive analysis on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
- Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with necessary information to take critical decisions
- Competitive Landscape: All-inclusive insights on both leading and emerging players vying for a slice of the Vacuum Shrink Bags market
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