The global vacuum shrink bags market size is anticipated to cross a valuation of US$ 1,392.1 million in 2023. It is projected to hit a valuation of US$ 2,267.6 million by 2033. The market is foreseen to thrive at a CAGR of 5.0% from 2023 to 2033.
In the food sector, vacuum shrink bags are frequently used for packaging and preserving perishable food items. Vacuum shrink bags aid in extending the shelf life of foods by eliminating air and establishing a vacuum-sealed environment. Without oxygen, bacteria, mold, and other microbes are less likely to thrive and harm the packed food’s freshness and quality. The market for vacuum shrink bags is growing significantly due to their capacity to preserve food.
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Beyond the food sector, vacuum shrink bags have other uses. They are employed in several industries, including medicines, electronics, the automobile industry, and industrial packaging. Vacuum shrink bags offer tamper-evident packaging in the pharmaceutical sector and safeguard delicate goods from contamination and moisture. They provide electrostatic discharge (ESD) protection for the electronics sector. Their adaptation and versatility facilitate the market expansion of vacuum shrink bags to various goods and sectors.
In defense against pollutants, dust, and other environmental irritants, vacuum shrink bags excel. The packaged goods are protected throughout transit, storage, and display owing to the bags’ strong seals and barrier qualities. By preventing tampering, damage, and spoiling, this protection ensures that the goods are delivered to customers in the best possible shape. The need for vacuum shrink bags is driven by the requirement for robust product protection in a variety of sectors.
Due to increased environmental concerns, there is a rising need for sustainable packaging solutions. Compared to conventional packaging materials like plastic sheets or trays, vacuum shrink bags provide environmentally beneficial alternatives, particularly those manufactured from recyclable or biodegradable materials. Vacuum shrink bags support the circular economy and environmental goals by boosting recycling and decreasing material waste.
Key Takeaways from Vacuum Shrink Bags Market Report:
- In 2018, the global market size stood at US$ 1,144.9 million.
- In 2022, the global market size stood at US$ 1,325.8 million.
- In 2022, the polyethylene segment captured 34.1% shares in the worldwide market.
- In 2022, North America accounted for 26.1% of shares in the global market.
- In 2022, Europe captured 21.2% shares in the worldwide market.
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Recent Developments Observed by FMI:
- To save energy and extend the shelf life of the completed product, MULTIVAC aspires to make it feasible to directly vacuum-pack hot food without first cooling it with the introduction of its new SFP Light steam flushing technology in December 2022.
- In February 2021, Eco-Tite® R, a shrink bag for fresh and processed meat, poultry, and select cheeses, was unveiled by Amcor, a packaging innovator on a worldwide scale. Amcor Eco-Tite® R is designed to increase shelf life, maintain food safety, and decrease food waste, and it can be recycled in the existing polyethylene (PE) plastic recycling streams.
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)
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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