Barrier Shrink Bags Market Sales Analysis & Opportunity | Future Market Insights, Inc.
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.
The barrier shrink bags market saw upward growth trend in 2021 with revenues up 5.6% Y-O-Y. A new forecast by FMI estimates that barrier shrink bags revenues will rise during 2022-2027 with creating an absolute incremental opportunity of US$ 793 Mn during the foreseeable period.
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Global Barrier Shrink Bags Market: Segmental Highlights
The global market is segmented on the basis of product type, material type, barrier type, thickness, application and abuse strength.
- By product type, the side sealed segment is expected to lead the market with a value share of more than 45% throughout the forecast period.
- By material type, Polyethylene and EVOH are the most attractive segments in the barrier shrink bags market. The EVOH Segment is expected to gain 70 basis points in market share between 2017 and 2027.
- Among the barrier type segments, the high barrier segment is the fastest growing segment with a market valuation of about US$ 1,381 Mn in 2017, reaching a revenue of over US$ 2,600 Mn by the end of 2027, growing at a CAGR of 6.8% during the forecast period. High barrier shrink bags are commonly used for the packaging of meat, poultry and seafood products.
- Among the segments based on thickness, the 50 to 70 Microns segment stands out with the highest expected market value of just under US$ 996 Mn in 2017, growing at a CAGR of 6.8% during the forecast period.
- In the segmentation based on application of barrier shrink bags, the food segment is the dominating segment with meat contributing the most to the segment’s growth. The food segment is anticipated to hold a market value of just under US$ 2,160 Mn in 2017.
- In the segmentation based on abuse strength, high abuse is the dominant segment in the global market, anticipated to reach a valuation of over US$ 2,600 Mn by the end of 2027, growing at a CAGR of 6.9% during the forecast period.
How the Trend of Customized & Consumer Convenient Packaging Solution Propel the Growth for Barrier Shrink Bags Market?
Leading food companies are focusing on adopting value-added products such as barrier shrink bags which helps in elevating their brand value and luring end consumers. With added convenience features, such as an excellent puncture resistance barrier shrink bags offer immense benefits to companies.
Printing on barrier shrink bags as effective techniques help brand owners to differentiate their products from competitive products already available in the market. It also improves the look of the products and gains the attention of consumers towards the product.
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Barrier Shrink Bags Market by Category
By Barrier Type:
- High Barrier Shrink Bags
- Ultra High Barrier Shrink Bags
- Cheese & Dairy Products
- Other Foods
By Product Type:
- Round Bottom Sealed
- Straight Bottom Sealed
- Side Sealed
By Material Type:
- Low Density Polyethylene (LDPE)
- Linear Low Density Polyethylene (LLDPE)
- Ethylene Vinyl Alcohol (EVOH)
- Polyvinylidene Chloride (PVDC)
- 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
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