Key Factors Shaping Barrier Shrink Bags Market
East and South Asia to Emerge as Lucrative Regions for Manufacturers of Barrier Shrink Bags
North America holds a significant market share in the barrier shrink bags market. Significant presence of key players in this region that cater to the demand for cost effective packaging is the key factor boosting growth of the barrier shrink bags market in this region.
However, the Asia Pacific barrier shrink bags market is expected to register a prominent growth rate during the forecast period of 2019-2027. China and India are anticipated to contribute to the high production of barrier shrink bags, attributable to increasing demand from food industries for moisture and aroma barrier food packaging in these countries.
Contamination-free Food Packaging and Consumer Convenience Propelling Growth of Barrier Shrink Bags Market
According to FMI research, end users prefer use of barrier shrink bags for their multi-layer structure that creates additional barrier for food packaging. Owing to oxygen barrier and added consumer convenience for package tearing, 50 to 70 Micron thickness barrier shrink bags are highly demanded as compared to other alternatives.
Additionally, Polyethylene-based barrier shrink bags hold maximum market share in the global barrier shrink bags market for packaging meat, seafood, poultry, and other food products.
Manufacturers to Target Heavy Duty Adhesion Requirements of Shipping and Logistics Industry
Demand for heavy duty adhesive packaging material is expected to increase as a result of rapid industrialization and growing cross border trades across the world. Shipping and logistics industries account for a significant share in the sales of heavy duty barrier shrink bags, which are used for sealing corrugated boxes used for transportation of machineries, furniture, and many other heavy products.
Barrier shrink bags are manufactured with paper and fiber backing, which provides high tear resistance, durability, and high strength. Such barrier shrink bags are available with a wide range of adhesion quality as per requirements in various applications. Additionally, other end users such as food and beverages, building and construction, automotive, and electrical and electronics industries opt for barrier shrink bags for packaging as it is an effective marketing tool that enhances presentation of products at a lower packaging cost.
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Presence of Alternate Packaging Solutions Hindering Growth of Barrier Shrink Bags Market
Despite many benefits, certain factors may restrain growth of barrier shrink bags market. Shift from barrier shrink bags to rigid packaging for safe transportation of products creates a negative impact on barrier shrink bags market. Moreover, frequently changing regulations on plastic use to reduce environmental impact are also responsible for lowering sales of barrier shrink bags.
However, as per FMI analysis, with advanced technologies, barrier shrink bags are available with chemicals for controlling growth of pesticides. Demand for barrier shrink bags is expected to increase in the foreseeable future as it enables safe and hygienic storage of food products.
Barrier Shrink Bags Market Structure Analysis
Bemis Company, Inc., Winpak Ltd, Kureha Corporation, Coveris Holdings S.A, Schur Flexibles Group, Sealed Air Corporation, Flavorseal Llc., Flexopack S.A., Globus Group, BUERGOFOL GmbH, and Allfo Vakuumverpackungen Hans Bresele Kg, are some of the key players in the barrier shrink bags market.
The top five key players hold 15-16% market share in the global barrier shrink bags market. These players are Bemis Company, Inc., Sealed Air Corporation, Winpak Ltd, Kureha Corporation, and Coveris Holdings S.A. These players are focusing on expanding their footprint in the developing markets through acquisitions and partnerships.
FREQUENTLY ASKED QUESTIONS ABOUT BARRIER SHRINK BAGS MARKET
What is the current and future market status of the barrier shrink bags market?
The global barrier shrink bags market is projected to register significant growth in next decade, and it is estimated to reach US$ 2,790.9 Mn in 2027 from its value of US$ 1,795.6 Mn in 2019.
Why are barrier shrink bags gaining traction?
Barrier shrink bags have the capability to enhance product life by protecting it from environmental gases, moisture, and retaining aroma. Moreover, barrier shrink bags are made up of eco-friendly materials, which are approved by Food and Drugs Association (FDA). End users thus prefer use of barrier shrink bags - a cost effective packaging solution that requires less storage space, which further reduces the cost of transportation.
What are the key facts of the barrier shrink bags market?
As per FMI analysis, side sealed bags are expected to gain significant traction on the back of their high aroma barrier and high bi-directional shrinkage quality, which improves the look of the package. Furthermore, the high barrier shrink bags segment is expected to create substantial incremental revenue opportunity during 2019-2027, as it ensures tear resistance of the packages and shelf life of the food product without spillage.
Which application holds potential growth opportunities for manufacturers?
Meat packaging is expected to hold maximum market share during 2019-2027, followed by poultry products packaging. End users prefer 50 to 70 Micron thickness bags for packaging the fore mentioned food products.
What is the degree of competition in the barrier shrink bags market?
The global Barrier Shrink Bags market is dynamic. As per FMI market share analysis, Bemis Company, Inc., Sealed Air Corporation, Winpak Ltd, Kureha Corporation, and Coveris Holdings S.A are the top five companies holding an estimated share of 15-16% in the global barrier shrink bags market.
Which region is estimated to lead the global sales of barrier shrink bags?
In terms of sales and market growth, the Asia Pacific excluding Japan is the fastest growing region in barrier shrink bags market and is projected to register a steady CAGR during the forecast period.
The global barrier shrink bags market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Round Bottom Sealed
- Straight Bottom Sealed
- Side Sealed
- High Barrier
- Ultra-High Barrie
- High Abuse
- Low Abuse
- Up to 50 microns
- 50 to 70 microns
- 70 to 90 microns
- 90 to 110 microns
- Above 110 micron
- Cheese & Dairy Products
- Other Foo
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa