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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.
Increasing hygiene awareness and advanced packaging technologies play a key role in growth of the barrier shrink bags market. Barrier shrink bags reduce chances of package failure and provide extra barriers for moisture, ensuring retention of aroma, and reduction of spoilage. Barrier shrink bags are thus an excellent packaging solution for protecting fresh meats from contamination and spoilage throughout the distribution channel. On the back of these factors, the global barrier shrink bags market is expected to exhibit a CAGR of 5.7% by value, during the forecast period of 2022-2027.
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Key Takeaways of Barrier Shrink Bags Market Study
“Key players in the global barrier shrink bags market can gain significant profits by focusing on enhancing market presence in untapped and developing countries such as China and India, attributable to expansion of food industries and hygiene awareness in this region,” says an FMI analyst.
Barrier Shrink Bags Market Landscape
Manufacturers of barrier shrink bags face intense competition in the global market. As per FMI research, high growth of the barrier shrink bags market is expected in next ten years, attributable to cost-effectiveness and high performance functionality of barrier shrink bags. Some of the leading manufacturers of barrier shrink bags market are 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. As per FMI’s 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 market share of 15-16% in the global barrier shrink bags market.
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Barrier Shrink Bags Market by Category
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Digital Textile Printing Market- The global digital textile printing market is currently valued at around US$ 2.7 Bn, and is anticipated to progress at a phenomenal CAGR of 16.3% to reach US$ 8 Bn by the end of the year 2029.
Pharmaceutical Packaging Market- The global pharmaceutical packaging market is postulated till US$ 178.8 Bn by the year 2031 at a CAGR of 7.4% between 2022 and 2031.
Plastic Caps & Closures Market - The global plastic caps & closures market is estimated at US$ 44 Bn in 2022 and is projected to reach US$ 61 Bn by 2029, at a CAGR of 5.0% from 2022 to 2029.
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Future Market Insights is the premier provider of market intelligence and consulting services
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, UAE, and has its global delivery center in India. In addition to these, FMI also carries out business development and client engagement through its US and UK offices.
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