The worldwide sales of freezer bags showed a constant upward trajectory at a rate of 2.5%, compared to the year-over-year rise between 2018 and 2022. By following this moderate growth rate, the market was worth around US$ 4,632.2 million in 2022.
The global market is projected to develop at a compound annual growth rate of 3.8% during the forecast period. In terms of value, the global demand for freezer bags is estimated to reach nearly US$ 4,808 million in 2023. The market is anticipated to worth US$ 6,981.6 million by 2033.
The rising demand for airtight freezer bags for meals is an outcome of the changing requirements of contemporary customers who seek convenience, food safety, and the best storage options. So, players launching ready-to-eat food items are expected to positively influence the sales of BPA-free freezer bags with moisture barriers during the forecast period.
In January 2021, the Taste Company, a food start-up, entered the ‘ready-to-eat’ food market, creating a substantial demand for freezer bags for soups. Similarly, in June 2022, a Mumbai-based company launched a healthy range of ready-to-eat packaged food products in double-sealed freezer bags.
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Key Takeaways from the Global Freezer Bags Market Study Report by FMI
- The United States and Canada together generated almost one-third of the total demand for freezer bags globally in 2022.
- The contribution of European countries together in sales of freezer bags worldwide was almost 28% in the year 2022.
- An increase in the consumption of convenience foods and affordable food packaging requirements are driving the sales of freezer bags in many Asia Pacific countries.
- Countries like China, India, and Indonesia, with a huge consumer base, are anticipated to grow faster.
Competitive Landscape for the Freezer Bags Market Players
In recent years, the overall market is facing both possibilities and problems as society adjusts to shifting environmental objectives. Increased concern about single-use plastic trash has created environmentally friendly substitutes, such as biodegradable and compostable freezer bags. So, market players who connect their products with sustainability trends hope to gain a sizable market share, especially among consumers who care about the environment.
Forecasts from industry insiders indicate a bright future for freezer bag suppliers while intensifying the rivalry among global and regional market players. The packaging sector faces fierce competition from emerging market players, which calls for constant innovation in form, function, and materials. Manufacturers who can address issues with durability, leak-proof capabilities, and reusability while keeping prices low are expected to be in a good position to succeed.
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Recent Development
In 2022, Russbe launched a reusable freezer bag that are made up of recyclable plastic. The company deals in packaging products that are free of PVC, latex, and phthalate.
Key Segments Profiled in the Global Freezer Bags Market
Freezer Bags Market by Product Type:
- Flat
- Satchel
- Block Bottom
- PP
- Nylon
- Polyester
Freezer Bags Market by Material Type:
- HDPE
- MDPE
- LDPE
Freezer Bags Market by Application:
- Freezer Bags for Food
- Dairy Products
- Seafood
- Meat & Poultry
- Fresh Vegetables & Fruits
- Ready-to-Eat Food
- Others
- Freezer Bags for Non-food Articles
Freezer Bags Market by Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- The Middle East & Africa (MEA)
About Future Market Insights Inc. (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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