A packaging solution made for shrink film of plastic are flexible wrapping method for consumer goods and preserve food items in particular. Barrier shrink bags shrink around a product in a way that it forms a protective second layer from heat application. They carry excellent properties to form protective shield around product from aroma, gases, environment and moisture among others. They are available in three basic types as side sealed bags, round bottom sealed bags and straight bottom sealed bags. Barrier shrink bags are highly used to in packaging of perishable food products like cheese and meat in order to preserve them and increase their shelf life. Several raw materials like polypropylene, EVOH (Ethylene-Vinyl Alcohol Copolymer), polyethylene and polyamide are generally used in manufacture of barrier shrink bags.
A current case study by Future Market Insights titled “Barrier Shrink Bags Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027)” briefs market forecast of the global barrier shrink bags market. According to recent research, the global barrier shrink bags market was valued at US$ 2,100 Mn in 2017 and estimated to reach US$ 4,070 Mn by the end of forecast period 2017 – 2027.
Barrier Shrink Bags Market: Market Dynamics
Increasing demand for packaging solutions in food industry to preserve perishable food product has driven barrier shrink bags market. This is highly attributed growing concern among consumers about food safety and hygiene coupled with increasing consumption of packaged food item and meat products. Another driving factor is the ability of barrier shrink bags to form protective plastic layer on products against heat application which is likely to fuel its demand in electronics, cosmetics & personal care and health care products. However, stringent regulations lower adverse impact on environment due to overuse of plastic is expected to hamper market growth in the near future.
Barrier Shrink Bags Market: Segmental Analysis
Among regions, the North America is expected to witness substantial growth in barrier shrink bags market. This is highly attributed to increasing consumption of meat in this region, thereby rising application of barrier shrink bags in preserving meat is likely to have positive impact on market growth avenues during the forecast period. Followed by North America, Western Europe is expected to offer significant opportunities in the near future. Barrier shrink bag manufacturers in Developing regions like Asia-Pacific excluding Japan (APEJ) and the Middle East & Africa (MEA) are expected to account for market gains owing to the increasing sales of consumer electronic goods, cosmetic & personal care and healthcare products in the near future.
Depending upon raw material, EVOH and polyethylene are expected to remain high in demand for production of barrier shrink bags. Both polyethylene and EVOH based barrier shrink bags sales are likely to witness fast growth during the forecast period. Based on the product type, side sealed barrier shrink bags are expected to witness rise in demand and expected to hold more than 45% of value share in barrier shrink bags market during the forecast period. Depending upon the thickness, barrier shrink bags are available in the range from 50 microns to above 110 microns. Among these, sales of barrier shrink bags of thickness 50 to 70 micron was valued at US$ 996 million in 2017 and expected to register a CAGR of 6.8% during the forecast period.
Barrier shrink bags find wide application in food (poultry, dairy, seafood and meat), electronics, healthcare, cosmetic & personal care, homecare and industrial among others. Among these, increasing consumption of meat worldwide has increased demand for barrier shrink bags in food industry. The market sales has recorded a value of US$ 2,160 million in 2017. Followed by food industry, electronics, homecare and industrial segment are expected to witness moderate growth in barrier shrink bags market during the forecast period.
Barrier Shrink Bags Market: Competition Landscape
Major companies involved in the manufacture of barrier shrink bags are focusing to establish long term relations with end use industries in order to keep continuous supply of barrier shrink bags during the forecast period. Most of the major companies involved in barrier shrink bags market are located at North America such as Bemis Company, Winpak Ltd and Sealed Air Corporation. Thus, abovementioned companies are likely to attain comparatively maximum value share. Other companies like Kureha Corporation and Coveris Holdings S.A are contributing towards revenue growth of barrier shrink bags market during the forecast period.
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