Bizizz Market Research has recently published a research report, “Barrier Shrink Bags Market By Product Type (Round bottom sealed, Straight bottom sealed and Side sealed),Material (Polypropylene, Polyethylene, Polyamide, EVOH, PVDC and Others), Barrier type (High barrier and Ultra high barrier), Application (Seafood, Meat, Cheese and dairy products, and Other foods), thickness (Up to 50 microns, 50 to 70 microns, 70 to 90 microns, 90 to 110 microns and above 110 microns) Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Barrier Shrink Bags Market was valued at US$ yy Bn in 2018 and it is anticipated to reach at market value of US$ 3.4 Bn by 2027, witnessing a CAGR of 6.0 % during the forecast period. Key drivers of the market are increased demand for hygienic storage of food products coupled with shelf-life period is propelling its market growth.
The global demand of barrier shrink bags is anticipated for a high demand as it increases the safety and hygienic storage of food products. It could be side sealed bags along with an expected to gain significant customer traction for its properties including, high fragrance barrier and greater bi-directional shrinkage efficiency which improves appearance of the packaging. Moreover, it is highly tear resistance with a better shelf life. It also serves better adhesion quality as per the requirement of different end use industries. Moreover, different end user industries including food and beverage, building and manufacturing, automotive and electrical and electronics industries choose barrier shrink bags for packaging; due to its adoption as an effective marketing tool propelling its product presentation at lesser price of packaging.
The Barrier Shrink Bags market is anticipated to register a CAGR of over 6.0% during the forecast period.
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By Application, Meat segment held a prominent share in Global Barrier Shrink Bags Market in 2018.
Globally the meat packaging is accounted for a considerable share of more than 90% in 2018 and is anticipated to have a steady growth during the forecast period. The food segment is expected to lead the market by a boom in the meat and poultry products demand in the market. Meat market is anticipated to reach a market value of approximately US$ 1,483 Mn by the end of 2027. It is followed by FMCG products including cheese and dairy products, it is anticipated to reach a market value of US$ 630 million by the end of the forecast period in 2027.
North America is Anticipated to Dominate the Global Barrier Shrink Bags Market during the Forecast Period.
The North America had accounted for a considerable market demand. Moreover, the Asia-Pacific Barrier Shrink Bags market is anticipated to have a considerable growth rate during the forecast period 2019-2027. The developing countries including China and India are expected to contribute to the greater production of barrier shrink bags, because of an increase in demand for food packaging of standard quality containing an extra layer of protection from the environment is fueling its market demand.
Global Barrier Shrink Bags market was moderately consolidated with key players accounting for significant share in 2018. The organizations are considerably manufacturing barrier shrink bags with innovative features that are versatile in nature along with various other advantages.
Prominent players operating in the Global Barrier Shrink Bags Market are: Bemis Company, Inc., Winpak Ltd, Winpak Ltd., Kureha Corporation, Sealed Air Corporation, Coveris Holdings S.A., Globus Group, Schur Flexibles Group, Sealed Air Corporation, Flavorseal Llc., Flexopack S.A., Bemis Company, Inc., Kureha Corporation, and Coveris Holdings S.A., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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