November 12, 2024 19:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
NEWARK, Del, Nov. 12, 2024 (GLOBE NEWSWIRE) -- The barrier shrink bags market is projected to experience significant growth over the next decade, with global sales estimated at USD 3.4 billion in 2024 and anticipated to reach USD 4.9 billion by 2034. According to market forecasts, the industry is set to grow at a steady CAGR of 3.5% from 2024 to 2034. This growth follows a revenue milestone of USD 3.3 billion in 2023, with year-over-year growth projected at 3.4% in 2024. aluminum shrink film
One of the primary drivers of this growth is the meat packaging sector, which is expected to account for more than 54% of the barrier shrink bags market by 2034. These bags play a vital role in packaging fresh, frozen, and processed meat products, where maintaining quality, extending shelf life, and preventing spoilage are essential.
Barrier shrink bags offer robust protection against moisture, contamination, and environmental factors, ensuring meat products retain their freshness from production to the point of sale.
The rising meat consumption in emerging markets is a key factor propelling demand for barrier shrink bags. As consumers increasingly prioritize quality and safety in food products, the meat packaging industry relies on advanced packaging solutions like barrier shrink bags to meet these expectations and support global supply chains.
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Understanding the Barrier Shrink Bags Market
The Barrier Shrink Bags Market refers to the industry that deals with the production, distribution, and consumption of barrier shrink bags. These are specialized packaging materials that offer protection against external elements, such as moisture, gases, and contaminants, which could affect the quality of the product inside.
Regional Insights into the Barrier Shrink Bags Market
"The Barrier Shrink Bags market is experiencing steady growth due to the increasing demand for enhanced product preservation and extended shelf life in packaging. As consumer preferences shift towards more sustainable and reliable packaging solutions, the adoption of barrier shrink bags continues to rise, particularly in the food and beverage sector," says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Prominent Drivers of the Barrier Shrink Bags Market
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Key Takeaways: Barrier Shrink Bags Market
This market is quite competitive, since there are numerous firms innovating, providing quality, and taking into account environmental concerns. The primary players in this market are large multinational packaging businesses, regional manufacturers, and niche experts who provide more advanced barrier technologies, such as multi-layer films, to protect and extend the shelf life of packed products.
Being sustainable is extremely important, and as the need for greener packaging develops, competitors shift to environmentally friendly, recyclable, or biodegradable items.
Partnerships with food producers and customization options, such as requirements for specific barrier qualities for meat, dairy, and seafood items, are also important considerations. Companies can then adjust their products to meet the wants of their customers, increasing market rivalry.
Key Players of Barrier Shrink Bags Industry
Recent Industry Developments in Barrier Shrink Bags Market
Key Segments of Barrier Shrink Bags Industry
Barrier shrink bags industry is divided into polyethylene, polypropylene, polyamide, EVOH, PVDC, and others. Polyethylene is further classified as LDPE and LLDPE.
Barrier shrink bags industry is segregated into round bottom sealed, straight bottom sealed, and side sealed.
The industry is classified by high barrier and ultra-high barrier.
The industry is classified by meat, seafood, poultry, cheese & dairy, and other.
Key countries of North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East and Africa (MEA), have been covered in the report.
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.
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Metalized barrier film packaging refers to a type of packaging material that combines plastic films with a thin layer of metal, typically aluminum, to create a barrier against light, moisture, oxygen, and other external factors.
The United States & Canada collation shrink films market size reached USD 1,014.8 million in 2023. From 2023 to 2030, collation shrinks film demand in the United States & Canada markets is likely to surge at 5.2% CAGR.
The growing demand for barrier tube packaging is driven by its ability to preserve product integrity, extend shelf life, and offer enhanced protection against contamination and environmental factors in various industries.
The Packaging Barrier Film market is expected to be valued at USD 18.8 billion in 2024. The pace of progress for the market from 2024 to 2034 is expected to be consistent, with a CAGR of 2.7%.
The growth of sterile barrier packaging is driven by increasing demand in the healthcare sector for contamination-free medical devices and pharmaceuticals, ensuring safety and compliance with stringent regulatory standards.
Global demand for barrier coatings for packaging is expected to reach a market valuation of USD 11.1 billion by the end of the year 2023, accelerating at a CAGR of 10% over the forecast period (2023 to 2033).
The growing demand for barrier packaging is driven by its ability to extend shelf life, preserve product quality, and meet sustainability goals, making it essential in industries like food and pharmaceuticals.
The heat shrink film market is poised to register a CAGR of 4.30% through 2034. The market is penned to increase from USD 5.51 billion in 2024 to USD 9.34 billion by 2034.
Vacuum shrink bags are a type of flexible packaging used to tightly wrap products by removing air from the bag and sealing it around the item. This process involves placing the product inside the bag, vacuuming out the air to create a tight fit, and then using heat to shrink the bag around the product.
The global sales pre-made bags are estimated to be worth USD 33.0 billion in 2021 and are anticipated to reach a value of USD 61.7 billion by 2031.
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The barrier shrink bags market is forecast to experience significant growth over the next decade, with global revenue estimated at $3.4 billion in 2024 and expected to reach $4.9 billion by 2034 . According to market forecasts, the industry will grow at a steady CAGR of 3.5% from 2024 to 2034. This growth follows a revenue milestone of $3.3 billion in 2023, with 3.4% year-over-year growth forecast for 2024.
One of the key drivers of this growth is the meat packaging sector, which is expected to account for more than 54% of the barrier shrink bag market by 2034. These bags play an important role in packaging fresh, frozen and processed meat products where maintaining quality, extending shelf life and preventing spoilage are important.
Barrier shrink bags provide robust protection from moisture, contamination and environmental influences, ensuring meat products retain freshness from production to point of sale.
Rising meat consumption in emerging markets is a key factor driving demand for barrier shrink bags. As consumers place increasing emphasis on food quality and safety, the meatpacking industry is relying on advanced packaging solutions such as barrier shrink bags to meet these expectations and support global supply chains.
Understanding the Barrier Shrink Bags Market
The barrier shrink bags market refers to the industry involved in the production, distribution and consumption of barrier shrink bags. These are special packaging materials that provide protection from external influences such as moisture, gases and contaminants that could affect the quality of the product inside.
Regional insights into the barrier shrink bags market
"The barrier shrink bag market is experiencing steady growth due to increasing demand for improved product preservation and extended shelf life in packaging. As consumer preferences shift towards more sustainable and reliable packaging solutions, the adoption of barrier shrink bags continues to increase, particularly in the food industry and beverage sector." Says a senior consultant Ismail Sutaria in packaging at Future Market Insights (FMI).
Prominent Drivers of Barrier Shrink Bags Market
Key Insights: Barrier Shrink Bags Market
This market is highly competitive as there are numerous companies that innovate, deliver quality and take environmental concerns into account. The key players in this market are large multinational packaging companies, regional manufacturers and niche experts who offer more advanced barrier technologies such as multi-layer films to protect and extend the shelf life of packaged products.
Sustainability is extremely important, and as the need for more environmentally friendly packaging develops, competitors are shifting to eco-friendly, recyclable or biodegradable items.
Partnerships with food manufacturers and customization options, such as: B. Requirements for specific barrier qualities for meat, dairy and seafood are also important considerations. Companies can then adapt their products to their customers' needs, increasing competitiveness in the market.
Major Players of Barrier Shrink Bags Industry
Recent industry developments in the barrier shrink bags market
Key segments of the barrier shrink bag industry
The barrier shrink bag industry is divided into polyethylene, polypropylene, polyamide, EVOH, PVDC and others. Polyethylene is further classified as LDPE and LLDPE.
The barrier shrink bag industry is divided into round bottom, cylinder and side.
The industry is classified as high barrier and ultra high barrier.
The industry is divided into meat, seafood, poultry, cheese and dairy, and others.
bag shrink wrap Major countries of North America, Latin America, Western Europe, Eastern Europe, South Asia and the Pacific, East Asia, and the Middle East and Africa (MEA) have been covered in the report.