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The barrier shrink bags market Size is estimated at US$ 2.1 Bn in 2022 , likely to surge at a vigorous 5.7% CAGR during the assessment period 2022 – 2027.
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.
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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.
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.
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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
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.
Barrier Shrink Bags Market by Category
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High Abuse Shrink Bags Market: Shelf life acts as an essential factor among meat packaging manufacturers while choosing packaging bags and films.
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The post Barrier Shrink Bags Market to Achieve A High CAGR Of 5.7% During Forecast Period -2027 appeared first on Future Market Insights.
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