The meat shrink bag market is expected to be US$ 990.3 million in size in 2024. The market size in 2023 was US$ 937.8 million. Over the forecast period, the CAGR for the market is projected to be 5.6%. By the end of the forecast period in 2034, the market value is anticipated to reach US$ 1,707.7 million.
Meat consumption is reaching new heights boosting the meat packaging industry. The meat shrink bag market is growing due to the positive trend of the meat packaging industry. The popularity of processed and ready-to-eat meat is further augmenting the market’s expansion.
Meat shrink bags are being increasingly adopted due to the convenience provided by the product. Meat shrink bags provide suitable protection, eliminating the chances of meat spoilage. Meat shrink bags are also lauded for being convenient to use and easy to unpack.
Request for a sample of this research report: https://www.futuremarketinsights.com/reports/sample/rep-gb-18249
Meat shrink bags prominently use plastic as a material. With an aversion toward growing concerns related to plastic among consumers, the meat shrink bag market has an obstacle in the path of growth. The tendency of a large amount of the population towards vegetarianism and veganism is further predicted to hamper the market.
Key Takeaways from the Meat Shrink Bag Market Report
- The meat shrink bag market is anticipated to be US$ 990.3 million in value in 2024.
- Polyethylene is the most common type of material used in meat shrink bags. For 2024, polyethylene is predicted to account for 70.9% of the market value.
- Side-sealed bags are the most popular in the market. For 2024, side-sealed bags are expected to contribute to 48.4% of the market share.
- The progress rate of the market in China is predicted to be encouraging. The CAGR for China over the forecast period is pegged at 6.8%.
- India and Japan are the other Asian countries with potential for the market. For the 2024 to 2034 period, the CAGR for India and Japan is projected to be 6.0% and 5.2%, respectively.
- Germany is slated to be at the forefront of market growth in Europe. For the forecast period, the CAGR for Germany is predicted to be 5.5%.
Growth Opportunities in Meat Shrink Bag Industry:
- Increasing Demand for Convenience Packaging: The rise in consumer demand for convenient and easy-to-use packaging solutions is driving the growth of meat shrink bags, as they offer efficient packaging for various meat products.
- Advancements in Packaging Technology: Technological innovations in packaging materials and processes are creating opportunities for enhanced product performance, shelf life extension, and cost-effectiveness in the meat shrink bag market.
- Global Expansion of Meat Processing Industry: The expanding meat processing industry worldwide, driven by population growth and changing dietary habits, presents significant growth prospects for the meat shrink bag market as a key packaging solution.
- Focus on Sustainable Packaging: With growing environmental concerns, there is an increasing focus on sustainable packaging solutions. Meat shrink bags that offer eco-friendly and recyclable options have a competitive edge and cater to the demand for environmentally conscious packaging.
- E-commerce Boom in Food Industry: The surge in online food retailing and e-commerce platforms is creating new avenues for the meat shrink bag market. These bags cater to the specific needs of online packaging, ensuring product safety and quality during transportation.
Recent Developments in the Meat Shrink Bag Market
- In July 2023, Amcor opened a new production facility in Swansea, the United Kingdom, to increase the production of its PrimeSeal meat packaging range.
- At the Interpack event held in May 2023, the recyclable shrink bag made by Adapa Group called Vacushrink (RE) Max 55 Shrink Bag won a prize for sustainability.
- In December 2022, the PVDC-free and recyclable Eco-Tite R shrink bag was launched by Amcor.
Purchase Now to Access Segment-specific Information and uncover Key Trends, Drivers, and Challenges: https://www.futuremarketinsights.com/checkout/18249
Key Segmentations:
By Material Type:
- Polyethylene
- High-density polyethylene
- Low-density polyethylene
- Linear low-density polyethylene
- Polypropylene
- Polyethylene terephthalate
- Ethylene vinyl alcohol
- Polyvinyl chloride
- Polyvinylidene chloride
- Polyamide
By Product Type:
- Side Sealed
- Bottom Sealed
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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.
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.
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