The global vacuum shrink bags market is poised for robust growth, with a projected average CAGR of 5.0% from 2023 to 2033. The market size, currently estimated at $1,392.1 million in 2023, is anticipated to surpass $2,267.6 million by 2033, according to recent market insights.
Vacuum shrink bags are emerging as a vital packaging solution, largely due to their affordability and functionality, driving substantial adoption across various sectors.
Their ability to maintain product freshness and extend shelf life has made them increasingly popular in the packaging of food items such as meat, seafood, poultry, fruits, and vegetables. These attributes are expected to fuel demand, positioning vacuum shrink bags as a key competitor to other flexible packaging options over the next decade.
Leading industry players are actively innovating to enhance the durability, tensile strength, and resistance of vacuum shrink bags, aligning with market trends and consumer needs. In addition to food preservation, vacuum shrink bags provide excellent protection against oxygen, moisture, and dust, reducing spoilage and maintaining product quality.
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Prominent Drivers of the Vacuum Shrink Bags Market
- Increasing Demand for Extended Shelf Life: Vacuum shrink bags are highly effective in preserving freshness and extending the shelf life of perishable goods, which is essential in the food industry. This extends product shelf life by minimizing exposure to oxygen and moisture, driving demand in retail and food service sectors.
- Growing Preference for Convenience Foods: As consumers increasingly opt for pre-packaged and ready-to-eat products, the demand for efficient, secure, and quality-preserving packaging, like vacuum shrink bags, rises.
- Stringent Food Safety Regulations: Regulatory standards around food safety and hygiene push manufacturers to adopt packaging solutions that offer enhanced protection, such as vacuum shrink bags, which help reduce the risk of contamination.
- Rising Popularity of Sustainable Packaging: Manufacturers are now producing eco-friendly vacuum shrink bags, meeting the demand for sustainable options in the packaging industry and attracting environmentally-conscious consumers and businesses.
- Expansion of E-commerce and Online Grocery Shopping: The growth of online grocery shopping has increased the demand for packaging that protects products during transport, with vacuum shrink bags being an ideal choice for securely packaged, fresh products.
Key Takeaways: Vacuum Shrink Bags Market
- The vacuum shrink bags market is projected to achieve a significant valuation of USD 1,325.8 million by 2022.
- North America is expected to lead the market, holding a dominant 19% share globally.
- Europe ranks as the second-largest region in the market, securing 14% of the total market share.
- Within the material segments, polyethylene captured a substantial 34.1% share of the global market in 2022.
Competitive Landscape
The market’s major players are attempting to focus on extending their product portfolio, presence, and operations through acquisitions. Furthermore, important companies are creating and introducing a new product within the vacuum shrink bag portfolio based on end-user requirements, such as developing recyclable vacuum shrink bags.
Key Players in the Market
- Sealed Air Corp.
- Atlantis-Pak Co. Ltd.
- Duropac, Coveris Holdings S.A.
- Bemis Company Inc.
- Supralon International AG
- Flexopack SA
Recent market developments:
- With the debut of its new SFP Light steam flushing system in December 2022, MULTIVAC hopes to immediately vacuum-pack hot food without first chilling it, which could save energy and increase the shelf life of the finished product.
- Amcor, a pioneer in packaging globally, introduced Eco-Tite R in February 2021. It is the first shrink bag for fresh and processed meat, poultry, and select cheeses made to be recycled. Amcor Eco-Tite R is made to extend shelf life, uphold food safety, cut down on food waste, and it can be recycled in the polyethylene (PE) plastic recycling streams already in place.
- Sealed Air company has launched its unique product, ‘chlorine-free vacuum shrink bags,’ which help to improve the quality of food and maintain food safety, and are sustainable. They are lower in carbon as compared to other vacuum shrink bags.
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)
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