Global Shrink Bags Market Overview:
Shrink Bags are also known as shrink wrap; is a thin plastic material that shrinks and tightens when heated. These bags are used to form a seal around food products, gift bags, drugs, or important papers that may require protection for shipping, packaging, or storing. These bags offers perfect finish and moisture resistance for packed product. They provide protection from debris, dirt, bad weather, bugs, mold, or other damage. The rising use of shrink bags in packing fresh and processed meat is driving the global shrink bags market size.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Demand for Reusable Shrink Bags
Market Growth Drivers:
Huge Demand For Packaging Meat & Seafood Products and Increasing Extensive Growth In The Retail Sector
Challenges:
Non-Reusable Shrink Bags Impacting Environment
Restraints:
Rising Fresh Food Consumption
Opportunities:
Increasing Disposable Income Among The Middle-Class and Demand For Contamination-Free Packaging
Competitive Landscape:
The global shrink bags market is fragmented and largely competitive due to presence of several global and regional manufacturers. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant risk factors for the growth of manufacturers in the market.
Some of the key players profiled in the report are Bemis Company, Inc. (United States), Sealed Air Corporation (United States), Winpak Ltd. (Canada), Kureha Corporation (Japan), Coveris Holdings S.A (United States), Schur Flexibles Group (Germany), Flavorseal (United States), BUERGOFOL GmbH (Germany), Flexo Pack Machines Pvt Ltd (India), Globus Group (United Kingdom), Allfo Vakuumverpackungen Hans Bresele Kg (Germany), PREMIUMPACK GmbH (Austria), VacPac Inc (United States), Vector Packaging (United States) and Atlantis-Pak Co. Ltd. (Russia). Additionally, following companies can also be profiled that are part of our coverage like Spektar d.o.o.(Serbia), Inauen Group (Switzerland) and GAP S.r.l.( Italy). Analyst at AMA Research see United States and European Vendors to retain maximum share of Global Shrink Bags market by 2028. Considering Market by Bag Thickness, the sub-segment i.e. Up to 50 microns will boost the Shrink Bags market. Considering Market by Sales Channel, the sub-segment i.e. Online will boost the Shrink Bags market. Considering Market by Material Type, the sub-segment i.e. Polyethylene will boost the Shrink Bags market.
Latest Market Insights:
In March 2023 J. J. Elemer Corporation is an established wholesale and e-commerce distributor of packaging supplies and equipment through its proprietary brands. Products range from heat sealers to shrink film to cloth bags. The company’s products are sold exclusively by a network of authorized dealers in the United States and Mexico.
In July 2023 Amcor announced a new, more sustainable production line for high-performance shrink bags and films for meat and cheese products. The new line at its Swansea, United Kingdom, Flexibles plant utilizes a thinner material with a high barrier PBdc-free formulation while maintaining quality, performance and optical properties.
What Can be Explored with the Shrink Bags Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Shrink Bags Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Shrink Bags
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Shrink Bags market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Shrink Bags market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Shrink Bags Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.