The global vacuum shrink bags market is anticipated to cross a valuation of US$ 1,392.1 million in 2023. It is projected to hit a valuation of US$ 2,267.6 million by 2033. The market is foreseen to thrive at a CAGR of 5.0% from 2023 to 2033.
Due to increased environmental concerns, there is a rising need for sustainable packaging solutions. Compared to conventional packaging materials like plastic sheets or trays, vacuum shrink bags provide environmentally beneficial alternatives, particularly those manufactured from recyclable or biodegradable materials. Vacuum shrink bags support the circular economy and environmental goals by boosting recycling and decreasing material waste.
In the food sector, vacuum shrink bags are frequently used for packaging and preserving perishable food items. Vacuum shrink bags aid in extending the shelf life of foods by eliminating air and establishing a vacuum-sealed environment. Without oxygen, bacteria, mold, and other microbes are less likely to thrive and harm the packed food’s freshness and quality. The market for vacuum shrink bags is growing significantly due to their capacity to preserve food.
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Market Drivers:
- Food Preservation: Vacuum shrink bags help extend the shelf life of food products by removing air and reducing the risk of spoilage, making them a valuable tool for food preservation.
- Product Freshness: These bags maintain the freshness, flavor, and texture of food products, making them appealing to consumers and enhancing the overall quality of packaged goods.
- Reduced Food Waste: By extending the shelf life and preventing spoilage, vacuum shrink bags can contribute to a reduction in food waste, a critical concern for both consumers and manufacturers.
- Convenience: Vacuum shrink bags are convenient for both consumers and manufacturers. They are easy to use for packaging various food items and can be used in both home and industrial settings.
- Customization: Manufacturers can customize vacuum shrink bags with branding, logos, and product information, helping to enhance the visual appeal of packaged products and promote brand recognition.
- E-commerce Growth: The rise of e-commerce has increased the demand for vacuum shrink bags, as they are used for packaging various food products sold online, ensuring they reach consumers in optimal condition.
Key Takeaways from Vacuum Shrink Bags Market Report:
- In 2018, the global market size stood at US$ 1,144.9 million.
- In 2022, the global market size stood at US$ 1,325.8 million.
- In 2022, the polyethylene segment captured 34.1% shares in the worldwide market.
- In 2022, North America accounted for 26.1% of shares in the global market.
- In 2022, Europe captured 21.2% shares in the worldwide market.
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
Recent Developments Observed by FMI:
- To save energy and extend the shelf life of the completed product, MULTIVAC aspires to make it feasible to directly vacuum-pack hot food without first cooling it with the introduction of its new SFP Light steam flushing technology in December 2022.
- In February 2021, Eco-Tite® R, a shrink bag for fresh and processed meat, poultry, and select cheeses, was unveiled by Amcor, a packaging innovator on a worldwide scale. Amcor Eco-Tite® R is designed to increase shelf life, maintain food safety, and decrease food waste, and it can be recycled in the existing polyethylene (PE) plastic recycling streams.
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Market Segmentation
By Material Type:
- Polyethylene (PE)
- HDPE
- LLDPE
- LDPE
- Polypropylene (PP)
- Polyamide (PA)
- Bo-axially Oriented Polyethylene Terephthalate (BOPET)
- EVOH
- Inorganic Oxide Coatings
- PVDC
- Others
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
- Meat
- Seafood
- Poultry
- Cheese and Dairy
- Other Food Products
- Electronics
- Cosmetics & Personal Care
- Homecare
- Healthcare
- Industrial
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East & Africa (MEA)
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.
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