The barrier shrink bags market is estimated at US$ 2.1 Bn in 2022 and is projected to reach US$ 2.8 Bn by 2027, at a CAGR of 5.7% from 2022 to 2027
The barrier shrink bags market constitute around 1-2% of the global food packaging market worth US$ 310 Bn in 2021.
The barrier shrink bags market revenue totaled US$ 2.0 Bn for 2021, according to FMI. The overall barrier shrink bags market is projected to expand 1.4 times the current market value by the end of 2027. The demand for barrier shrink bags will accelerate with the top 5 companies estimated to hold 40-45% of the barrier shrink bags market in 2022
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Key Takeaways of Barrier Shrink Bags Market Study
- As per FMI analysis, high barrier films are highly preferred for food packaging, and this segment is expected to create substantial incremental revenue opportunity during 2022-2027, as it ensures tear resistance of the packages and shelf life of the food product without spillage.
- The meat packaging segment is expected to hold a significant share of the barrier shrink bags market. This is attributable high moisture and oxygen barrier provided by these bags that ensures hygiene and longer life of meat products.
- Side sealed bags are expected to gain significant traction, on the back of high aroma barrier and high bi-directional shrinkage quality, which gives good presentation looks to the package.
- Higher thickness of barrier shrink bags provides extra resistance for bacteria and contamination. On the other side low thickness barrier shrink bags are easy to tear and give transparent presentation of the product. End users prefer 50 to 70 Micron thickness bags for food packaging.
- High abuse strength segment is expected to contribute significantly to the growth of the barrier shrink bags market.
- North America is identified the leading market for barrier shrink bags at global level. However, expansion of food industries in Asian countries is expected to offer substantial opportunities for players in the barrier shrink bags market during the forecast period.
“Key players in the global barrier shrink bags market can gain significant profits by focusing on enhancing market presence in untapped and developing countries such as China and India, attributable to expansion of food industries and hygiene awareness in this region,” says an FMI analyst.
Barrier Shrink Bags Market Landscape
Manufacturers of barrier shrink bags face intense competition in the global market. As per FMI research, high growth of the barrier shrink bags market is expected in next ten years, attributable to cost-effectiveness and high performance functionality of barrier shrink bags.
Some of the leading manufacturers of barrier shrink bags market are
- Bemis Company, Inc.,
- Winpak Ltd,
- Kureha Corporation,
- Coveris Holdings S.A,
- Schur Flexibles Group,
- Sealed Air Corporation,
- Flavorseal Llc.,
- Flexopack S.A.,
- Globus Group,
BUERGOFOL GmbH, and Allfo Vakuumverpackungen Hans Bresele Kg. As per FMI’s market share analysis, Bemis Company, Inc., Sealed Air Corporation, Winpak Ltd, Kureha Corporation, and Coveris Holdings S.A are the top five companies holding an estimated market share of 15-16% in the global barrier shrink bags market.
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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
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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