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The Demand For Barrier Shrink Bags Market Was Valued At US$ 2.5 Bn In 2019. It Is Projected To Witness A CAGR Of ~6.0 % During the Forecast Period (2020-2028)
Consumer convenience and contamination-free food packaging is boosting the growth of barrier shrink bags market. End users prefer barrier shrink bags as these carry multi-layer structure that creates an extra layer for food packaging.
Barrier Shrink bags are rapidly adopted in various industries as these improve shelf life of the products by protecting them from moisture and environment. In addition to this, various manufacturers offer barrier shrink bags that are made of eco-friendly materials recommended by the Food and Drug Association (FDA). Moreover, End users prefer the use of barrier shrink bags as it is cost-effective packaging alternative that allows less storage space, that further reduces cost of transportation.
The demand for barrier shrink bags is expected to increase in the foreseeable future as it allows safe and hygienic storage of food products. Side sealed bags are supposed to gain considerable traction owing to their high fragrance barrier and high bi-directional shrinkage efficiency, that enhances the appearance of the packaging. In addition to this, it provides higher tear resistance and better shelf life. These also offer better adhesion quality as always required in various end use industries. Also, many end user industries such as food and beverage, building and manufacturing, automotive and electrical and electronics sectors, opt for barrier shrink bags for packaging, as it's an effective marketing tool that boosts product presentation at cheaper packaging costs.
By Application, Meat Packaging Is Expected To Witness High Demand during Forecast Period
Meat Packaging had accounted for a significant share of more than 90% in 2019 and is expected to remain dominant during the forecast period.
The food segment is likely to continue to lead the market as a result of a boom in the meat and poultry market. Meat market is supposed to reach a market value of around US$ 1,623 Mn by the end of 2028. It is followed by the cheese and dairy products segment, that is expected to achieve a market value of US$ 630 million by the end of the forecast period in 2028.
Barrier shrink bags are more prominently used in the food industry and demand has increased due to the inherent features of the product. Consumers are also demanding more ready-to-use products that drive the growth of packed, ready-to-cook and ready-to-eat products around the globe.
End users in meat packaging market prefer barrier shrink bags with 50-70 micron thickness for packaging the food products.
On The Basis Of End User Sector, Shipping and Logistic Is Expected To Witness Significant Share of Barrier Shrink Bags Market during Forecast Period
Shipping and logistic sector had accounted for a significant share of more than xx% in 2019 and is expected to remain dominant during the forecast period.
Heavy duty barrier shrink bags are rapidly used in shipping and logistics industry for sealing machinery, furniture and many other heavy goods. Barrier Shrink Bags are made up of paper and fiber backrest that offers high tear resistance, longevity and high strength. These benefits are required in various applications in Shipping and Logistics Industry. Shipping and logistic sector also requires material handling, general logistics and hence ultimately boosts the growth of barrier shrink bags market.
North America Is Likely To Dominate the Global Barrier Shrink Bags Market during Forecast Period
North America had accounted for a significant share of xx% in 2019. Major presence of key players in this region is a key factor enhancing the growth of the barrier shrink bags market. However, Asia-Pacific Barrier Shrink Bags market is likely to have a significant growth rate during the forecast period 2020-2028. China and India are supposed to contribute to the higher production of barrier shrink bags, due to an increase in demand for food packaging that is good quality and contains an extra layer of protection from the environment.
Barrier Shrink Bags market comprises of key players such as Bemis Company, Inc., Winpak Ltd, Kureha Corporation, Coveris Holdings S.A., Schur Flexibles Group, Sealed Air Corporation, Flavorseal Llc., Flexopack S.A., Globus Group. The top five key players hold 14-17% of the market share in the global barrier shrink bag market. These manufacturers are Bemis Company, Inc., Sealed Air Corporation, Winpak Ltd, Kureha Corporation, and Coveris Holdings S.A. These players focus on growing their footprint in emerging countries through acquisitions and partnerships.
Barrier Shrink Bag Market Segmentation:
Barrier Shrink Bag Market by Product:
- Round bottom sealed
- Straight bottom sealed
- Side sealed
Barrier Shrink Bags Market by Material:
Barrier Shrink Bags Market by Barrier Type:
- High barrier
- Ultra high barrier
Barrier Shrink Bags Market by Thickness:
- Up to 50 microns
- 50 to 70 microns
- 70 to 90 microns
- 90 to 110 microns
- Above 110 microns
Barrier Shrink Bags Market by Application:
- Cheese and dairy products
- Other foods
Barrier Shrink Bags Market by Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa