Shrink Bags Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
The demand for shrink bags across various industries is poised to witness substantial growth, according to a recent analysis by Fairfield Market Research. The report forecasts a consistent upward trajectory in the global shrink bags market, with significant opportunities emerging in the coming years.
Steady Growth Projected
Fairfield Market Research's analysis indicates a steady rise in the adoption of shrink bags worldwide. From 2024 to 2031, the market is expected to exhibit a robust Compound Annual Growth Rate (CAGR) of 6.3% in terms of value and 6.0% in terms of volume. In 2024, the global shrink bags market value is estimated to surpass US$ 4500 Mn.
Emerging Economies Driving Growth
Manufacturers in the shrink bags market are strategically targeting emerging economies to sustain revenue growth amidst intensifying competition. With a paradigm shift towards untapped markets in emerging economies and a growing population, there are significant opportunities for expansion. This trend is expected to bolster the adoption of shrink bags, thereby supporting manufacturers in achieving sustainable revenue streams.
Meat Industry Offers Lucrative Opportunities
The production of bone meat products presents a challenge for packaging due to transportation-related damages. In response, technological advancements have led to the development of protective packaging solutions like shrink bags. These bags offer enhanced strength and toughness, resulting in extended shelf life for bone meat products. As a result, the demand for shrink bags, particularly in the meat sub-segment, is expected to witness substantial growth.
Rising Demand in the Food Sector
Shrink bags have emerged as a preferred packaging solution in the food industry, particularly for meat products and items with low shelf life. The durability and shelf life extension capabilities of shrink bags have propelled their adoption in the food sector. The meat sub-segment, in particular, is expected to contribute significantly to the growth of the food segment by the end of 2031.
Key Players in the Market
The players are actively engaged in product innovation and market expansion strategies to maintain their competitive edge in the market. Leading companies in the global shrink bags market include:
Bemis Company, Inc.
Kureha Corporation
Sealed Air Corporation
Winpak Ltd.
Flexopack S.A.
Coveris Holdings SA
PREMIUMPACK GmbH
Schur Flexible Group
BUERGOFOL GmbH
Allfo Vakuumverpackungen Hans Bresele Kg
Kuplast
Spektar d.o.o.
Atlantis-Pak Co. Ltd.
Inauen Group
GAP S.r.l.
Others.
Market Segmentation
By Barrier Type
Low Barrier
Medium Barrier
High Barrier
Ultra High Barrier
By Product Type
Round Bottom
Straight Bottom
Side Sealed
By Material Type
PE
HDPE
LDPE
LLDPE
PP
PET
EVOH
PVC
PVDC
PA
Others
By Thickness
Up to 50 Micron
50 to 70 Micron
70 to 90 Micron
90 to 110 Micron
Above 110 Micron
By Application
Food
Meat
Seafood
Poultry
Cheese & Dairy
Other foods
Electronics
Cosmetics & Personal care
Healthcare & Pharmaceuticals
Industrial
Others
By Region
North America
Latin America
APAC
Europe
MEA
Table of Contents
1. Executive Summary
1.1. Global Shrink Bags Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2023
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Global Shrink Bags Market Outlook, 2018 - 2031
3.1. Global Shrink Bags Market Outlook, by Baner Type, Value (US$ Mn), 2018 - 2031
3.1.1. Key Highlights
3.1.1.1. Type
3.1.1.2. Low Rater
3.1.1.3. Mediter
3.1.1.4. High Ranier
3.1.1.5. Ultra Higher
3.2. Global Shrink Bags Market Outlook, by Product Type, Value (US$ Mn), 2018 - 2031
3.2.1. Key Highlights
3.2.1.1. Round Bottom
3.2.1.2. Straight Bottom
3.2.1.3. Side Sealed
3.3. Global Shrink Bags Market Outlook, by Material, Value (US$ Mn), 2018 - 2031
3.3.1. Key Highlights
3.3.1.1. PE
3.3.1.2. HOPE
3.3.1.3. LDIPE
3.3.1.4. LLDPE
3.3.1.5. pp
3.3.1.6. PET
3.3.1.7. EVOH
3.3.1.8. PVC
3.3.1.9. PVDC
3.3.1.10. PA
3.3.1.11. Other
3.4. Global Shrink Bags Market Outlook, by Thickness, Value (US$ Mn), 2018 - 2031
3.4.1. Key Highlights
3.4.1.1. Up to 50 Micron
3.4.1.2. 50 to 70 Micron
3.4.1.3. 70 to 90 Micron
3.4.1.4. 90 to 110 Micron
3.4.1.5. Above 110 Micron
3.5. Global Shrink Bags Market Outlook, by Application, Value (US$ Mn), 2018 - 2031
3.5.1. Key Highlights
3.5.1.1. Food
3.5.1.2. Meat
3.5.1.3. Seafood
3.5.1.4. Poultry
3.5.1.5. Cheese & Dairy
3.5.1.6. Other food
3.5.1.7. Electronics
3.5.1.8. Cortic & Personal care
3.5.1.9. Healthcare Pharmaceutical
3.5.1.10. Other
3.6. Global Shrink Bags Market Outlook, by Region, Value (US$ Mn), 2018 - 2031
3.6.1. Key Highlights
3.6.1.1. North America
3.6.1.2. Europe
3.6.1.3. Asia Pacific
3.6.1.4. Latin America
3.6.1.5. Middle East & Africa
4. North America Shrink Bags Market Outlook, 2018 - 2031
4.1. North America Shrink Bags Market Outlook, by Baner Type, Value (US$ Mn), 2018 - 2031
4.1.1. Key Highlights
4.1.1.1. Type
4.1.1.2. Low Rater
4.1.1.3. Mediter
4.1.1.4. High Ranier
4.1.1.5. Ultra Higher
4.2. North America Shrink Bags Market Outlook, by Product Type, Value (US$ Mn), 2018 - 2031
4.2.1. Key Highlights
4.2.1.1. Round Bottom
4.2.1.2. Straight Bottom
4.2.1.3. Side Sealed
4.3. North America Shrink Bags Market Outlook, by Material, Value (US$ Mn), 2018 - 2031
4.3.1. Key Highlights
4.3.1.1. PE
4.3.1.2. HOPE
4.3.1.3. LDIPE
4.3.1.4. LLDPE
4.3.1.5. pp
4.3.1.6. PET
4.3.1.7. EVOH
4.3.1.8. PVC
4.3.1.9. PVDC
4.3.1.10. PA
4.3.1.11. Other
4.4. North America Shrink Bags Market Outlook, by Thickness, Value (US$ Mn), 2018 - 2031
4.4.1. Key Highlights
4.4.1.1. Up to 50 Micron
4.4.1.2. 50 to 70 Micron
4.4.1.3. 70 to 90 Micron
4.4.1.4. 90 to 110 Micron
4.4.1.5. Above 110 Micron
4.5. North America Shrink Bags Market Outlook, by Application, Value (US$ Mn), 2018 - 2031
4.5.1. Key Highlights
4.5.1.1. Food
4.5.1.2. Meat
4.5.1.3. Seafood
4.5.1.4. Poultry
4.5.1.5. Cheese & Dairy
4.5.1.6. Other food
4.5.1.7. Electronics
4.5.1.8. Cortic & Personal care
4.5.1.9. Healthcare Pharmaceutical
4.5.1.10. Other
4.6. North America Shrink Bags Market Outlook, by Country, Value (US$ Mn), 2018 - 2031
4.6.1. Key Highlights
4.6.1.1. U.S. Shrink Bags Market by Baner Type, Value (US$ Mn), 2018 - 2031
4.6.1.2. U.S. Shrink Bags Market by Product Type, Value (US$ Mn), 2018 - 2031
4.6.1.3. U.S. Shrink Bags Market by Material, Value (US$ Mn), 2018 - 2031
4.6.1.4. U.S. Shrink Bags Market by Thickness, Value (US$ Mn), 2018 - 2031
4.6.1.5. U.S. Shrink Bags Market by Application, Value (US$ Mn), 2018 - 2031
4.6.1.6. Canada Shrink Bags Market by Baner Type, Value (US$ Mn), 2018 - 2031
4.6.1.7. Canada Shrink Bags Market by Product Type, Value (US$ Mn), 2018 - 2031
4.6.1.8. Canada Shrink Bags Market by Material, Value (US$ Mn), 2018 - 2031
4.6.1.9. Canada Shrink Bags Market by Thickness, Value (US$ Mn), 2018 - 2031
4.6.1.10. Canada Shrink Bags Market by Application, Value (US$ Mn), 2018 - 2031