The United States is experiencing a significant surge in the demand for barrier shrink bags market, primarily fueled by the increasing popularity of frozen food items. In 2022, the U.S. dominated the North American market, accounting for a substantial 92% share. In contrast, Canada is expected to witness a higher growth rate in the adoption of barrier shrink bags in the coming years.
This growth is closely linked to the United States’ ranking as the second-largest consumer of meat, according to the Organization for Economic Co-operation and Development (OECD). Additionally, the American Frozen Food Institute (AFFI) reported robust sales of frozen foods in 2020, with seafood, poultry, and appetizers emerging as the top three categories, driving up the demand for barrier shrink bags on a global scale. In the broader regional context, North America holds a significant 27.2% share of the global market.
Request the Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-5613
The global Barrier Shrink Bags Market demonstrates remarkable potential, with an estimated value of about US$2,112.3 million in 2023. Projections indicate a robust CAGR of 5.9% from 2023 to 2033, propelling the market to a projected worth of US$3,968.3 million by 2033. These specialized bags, known for their impeccable sealing, puncture resistance, and transparency, are gaining substantial traction due to the escalating demand for convenient and flexible packaging solutions. The market’s growth trajectory highlights its pivotal role in meeting evolving packaging needs across various industries, positioning it as a key player in the global packaging landscape..
These types of bags are highly popular in the meat, poultry, cheese, seafood, etc., a section of the food industry as the barrier shrink bags are capable of impacting the shelf life of these products. Thus, the target market finds plenty of lucrative opportunities in these industries during the projected period. The barrier shrink bags ensure safety, and hygiene, and provide a certain convenience that adds on to their popularity in the global market.
“Heightened demand for shelf-life extension will facilitate the global growth of the barrier shrink bags market over the forecast period,” says an FMI analyst.
Ask an Analyst: https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-5613
Key Takeaways:
- The high barrier shrink bags segment will expand at a CAGR of 6.1%, reaching US$ 1.6 Bn by the end of 2027.
- By application, the meat segment will generate US$ 381 Mn opportunity.
- On the basis of type, side sealed product type will grow at 6.0% CAGR, arriving at a value of US$ 1.4 Bn in 2027.
- North America will account for 26% of the global market share.
- The United States will hold 92% of the target market share in North America through 2027.
- The barrier shrink bags industry in Italy will expand by 1.7x, creating a revenue opportunity of US$ 24 Mn during 2022-2027.
Competitive Landscape
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., and Spektar d.o.o, among others are some of the major players in the barrier shrink bags industry profiled in the full version of the report.
Leading market players are concentrating on product development and releasing new products to increase their product portfolios. These organizations are keen on expanding their operations and launching innovative product lines to strengthen their market presence.
More Insights into Barrier Shrink Bags Market Report
In its latest report, FMI offers an unbiased analysis of the global barrier shrink bags market, providing historical data from 2012 to 2021 and forecast statistics for 2022 to 2027. To understand the global industry potential, growth, and scope, the market is segmented on the basis of barrier type (high barrier shrink bags, ultra high barrier shrink bags), application (meat, seafood, poultry, cheese & dairy products, other foods), product type (round bottom sealed, straight bottom sealed, side sealed), material type (polyethylene (low density polyethylene (LDPE), linear low density polyethylene (LLDPE)), polypropylene, polyamide, ethylene vinyl alcohol (EVOH), polyvinylidene chloride (PVDC), others), thickness (up to 50 microns, 51 to 70 microns, 71 to 90 microns, 91 to 110 microns, above 110 microns), abuse strength (high abuse, low abuse), and region.
According to the latest FMI reports, based on segmentation, the high barrier shrink bags segment will dominate the target market. This segment will likely account for 56% of the overall industry share by the end of 2027. In terms of application, the meat segment is expected to contribute the most to the target market, reaching a value of US$ 381 Mn during 2022-2027. On the basis of product type, the side sealed segment is expected to gain popularity among the consumers during the forecast period.
Based on region, the barrier shrink bags industry in North America will present significant growth, primarily due to the performance of the same market in the United States. Multiple growth opportunities for the target market in the meat packaging sector caused by rising disposable income and an emphasis on eating healthy fuels barrier shrink bags market growth in the U.S. The country is expected to account for 92% of the market share in North America. Apart from the U.S., Italy’s barrier shrink bags market will exhibit notable growth due to lucrative opportunities in the cheese packaging industry. The target market in this country is expected to grow 1.7 times its current value.
Request Report Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-5613
Barrier Shrink Bags Market by Category
By Barrier Type:
- High Barrier Shrink Bags
- Ultra High Barrier Shrink Bags
By Application:
- Meat
- Seafood
- Poultry
- Cheese & Dairy Products
- Other Foods
By Product Type:
- Round Bottom Sealed
- Straight Bottom Sealed
- Side Sealed
By Material Type:
- Polyethylene
- Low Density Polyethylene (LDPE)
- Linear Low Density Polyethylene (LLDPE)
- Polypropylene
- Polyamide
- Ethylene Vinyl Alcohol (EVOH)
- Polyvinylidene Chloride (PVDC)
- Others
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
- Low Abuse
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.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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 5000 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
