The global dome shrink basket bags market is expected to increase at a growth rate of ~5%, during the forecast period.
The analysis from the dome shrink basket bags market shows that the global demand of the overall dome shrink basket bags market is forecasted to reach millions of tonnes by 2031. Prominent sales of custom inserts are expected in the global market attributing to contamination-free food packaging and consumer convenience which is propelling the growth of the dome shrink basket bags market.
Dome Shrink Basket Bags Market: An Overview
Dome shrink basket bags are made from 100 gauge clear PVC and they perfectly fit odd shape containers and baskets. Dome shrink basket bags are also known with different names in the market such as gift basket bags, seamless shrink bags multipack bags, promotional bags, etc. over the past few years, it has been observed that to address the specific needs of the packaged product, the packaging industry has focused on adopting and developing packaging solutions.
By offering excellent shrink properties like high mechanical resistance, safety seals, and good clarity to many perishable frozen or fresh food products, the dome shrink basket bags has been adopted across the various end-use industries such as food & beverages, pharmaceuticals and others.
Moreover, dome shrink basket bags are a packaging solution and the main aim of packaging is to safeguard the product and makes them ideal for sales. Overall dome shrink basket bags market is projected to gain significant growth during the forecast period.
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What Fuels the Growth of the Dome Shrink Basket Bags Market?
Dome shrink basket bags are considered a key choice for the packaging of a product as they are attractive, offers protection, promote product or brand and offer greater advertising opportunities. Moreover, on the back of all these factors, dome shrink basket bags are used in various end-use industries which is likely to boost the growth of the dome shrink basket bags market.
How the Various End-use Industry will Create Opportunity for the Dome Shrink Basket Bags Market?
The key features that are helping to drive the growth of the global dome shrink basket bags market are more durable, eco-friendly, reusable, long-lasting, high-quality fabric, and can be customised easily.
Therefore, these features of dome shrink basket bags are making them more popular in the various end-use industry such as in agriculture, pharmaceutical, food and others. Thus, the attractiveness of dome shrink basket bags in the end-use industry is creating an opportunity for the target market.
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What are the Key Trends Impacting Growth of the Dome Shrink Basket Bags Market?
Dome shrink basket bags are used for many purposes such as gifting, promotion and others. Additionally, they come with many colour and lamination options. Furthermore, the usage of dome shrink basket bags for several purposes is likely to propel the growth of the target market.
What are the Key Challenges that Might Restrain Growth of the Dome Shrink Basket Bags Market?
Dome shrink basket bags are mainly used in offline shopping stores such as retail shops, hypermarkets, malls and others for packaging of the product. The rise in the e-commerce sector and online shopping of products has impacted the demand for dome shrink basket bags and is expected to hinder the growth of the market.
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Competitive Landscape
Global Players:
Traco Packaging
Master Gourmet Packaging Inc.
Nashville Wraps
Packman Packaging
JEMPAK UK® and others.
Asian Players:
Shenzhen Gmpak Packaging Co. Ltd.
RK Enterprise
Two Bond Polymers
Parth Products Jai Plastics
Dhanshri Polypack
Naeco Packaging
Parshwa Packaging
SHENZHEN LEHUA PACKAGING MATERIALS CO. LTD and others.
What Strategies are the Key Players Adopting for Increasing their Market Share in the Dome Shrink Basket Bags Market?
The key players adopt various strategies such as product launch, merger & acquisition, innovation and others to survive the competition in the market.
In February 2021, the company named Traco Packaging introduced, SuperShrink™ dome bags which are convenient for shrink bags, gift basket bags, and multi-pack products.
How will the Dome Shrink Basket Bags Market Generate Significant Demand in India?
India is one of the largest producers of manmade and natural fibres due to which the production of dome shrink basket bags has increased. Moreover, the domestic retail market is increasing in India which is boosting the demand for dome shrink basket bags.
What is the Outcome of the Pandemic on the Growth of the Dome Shrink Basket Bags Market?
Due to the usage of dome shrink basket bags mostly in offline stores due to which the COVID-19 pandemic has impacted negatively on the growth of the market. During the pandemic, closures of shops, hypermarkets, malls and the rise in online shopping has affected the demand for dome shrink basket bags.
Market Segmentation of the Dome Shrink Basket Bags Market
