As per FMI, the total sales of barrier shrink bags for the year 2023 are estimated to be around US$ US$ 2,112.3 million. The overall barrier shrink bags market is projected to register a CAGR of 5.9% during the forecast period.
The concerns regarding convenience, hygiene, and food safety among consumers are increasing across the globe, which is impacting the overall packaging industry. Shelf life is one of the crucial factors for the commercialization of both plant-based and animal-based food products.
Barrier shrink bags are a type of flexible packaging solution that is made from plastic shrink films or some other materials. It shrinks around the product like a second skin to the product after applying heat making it very desirable for animal-based food products packaging.
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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.
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.
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Competitive Landscape for the Barrier Shrink Bags Market Players
Amcor, Bemis, Winpak, KUREHA, Coveris, Flavorseal, and Flexopack, among others, are some key players in the global barrier shrink bags market. 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.
Key Segments Covered by Industry Survey Report
By Barrier Type:
- High Barrier Shrink Bags
- Ultra High Barrier Shrink Bags
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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)
- Low-density Polyethylene (LDPE)
- 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
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- Middle East and Africa (MEA)
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