The global freezer bags market was valued at US$ 3,654.6 Mn in 2017 and is expected to be valued at US$ 5,102.8 Mn in 2026, as indicated by the latest research report published by Transparency Market Research. The global freezer bags market is characterized by the growing demand of freezer bags owing to their wide-spread usage in food, pharmaceutical and other industries. The consumer demand is also rising due to the growing disposable income worldwide. The market is also marked with the advancement in the manufacturing technology. Food sector will reportedly remain the predominant end-use industry generating the maximum demand for freezer bags.
Key market characteristics observed in the global market for freezer bags include high demand for private label brands and various expansion activities made by key players of freezer bags market. The demand for freezer bags from sectors other than food is also rising. The market volume for global freezer bags is expected to expand 1.4X during the forecast period 2018-2026. The market is expected to expand at a CAGR of 3.8% in terms of market value during the forecast period, 2018-2026.
Transparency Market Research, in its report titled, “Freezer bags Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018-2026,” has segmented the global freezer bags market by material type, application and by geographic regions.
HDPE Leads with More than Half of the Market Value Share, by Material Type
On the basis of material type, the global freezer bags market is segmented into HDPE (High-density polyethylene), MDPE (Medium-density polyethylene) and LDPE (Low-density polyethylene). HDPE, the most commonly used material for the manufacturing of freezer bags, is the leading segment with market share of over half of the global market. MDPE is the fastest growing segment in the market owing to their increasing uptake. LDPE segment contributes about a quarter to the freezer market.
Application-wise, Food Industry Retains Top Consumer Position
Based on application, the market is divided into food, pharmaceuticals, medical devices, stationery and others. The food segment is further divided into frozen specialties, baked foods, meat, poultry & seafood, confectionary, snacks and other food products. Food is the largest segment, contributing more than half to the total freezer bags market. Others segment is the fastest growing segment based on application. Among the food segment, meat, poultry & seafood is the largest segment in terms of market value. The said segment contributes about one-third to the global freezer bags market.
North America & Europe to Remain Key Markets, Emerging Economies to Develop Lucrative Markets
The global freezer bags market is segmented geographically into five key regions including North America, Latin America, Europe, Middle East and Africa (MEA) and Asia Pacific (APAC). North America and Europe emerge as the largest markets for freezer bags while Latin America, Middle East & Africa and Asia Pacific region are projected to grow at a rapid pace during the forecast years.
Some of the major players operating in the global freezer bags market have been profiled in the report, including S. C. Johnson & Son, Inc., International Plastics, Inc., Reynolds Consumer Products LLC, Weston Brands LLC, Star Poly Bag, Inc., The Glad Products Company, Rutan Poly Industries, Inc., Inteplast Group, US Poly Pack, Elevate Packaging, Inc., Uline, Inc., Abbey Polythene Ltd., Universal Plastic Bag Manufacturing Co., Falcon Pack Industry LLC, Maxpak Australasia Pty. Ltd., Polybags Limited, WeiFang ChangLe Shuguang Industry Co., Ltd., Xiamen Huli Fengyi Industry Co.,Ltd., Great American Packaging, Inc., and Convex Innovative Packaging.
Transparency Market Research examines the global freezer bags market for the forecast period 2018-2026. The primary objective of the report is to identify opportunities in the market and present updates as well as insights pertaining to various segments of the global freezer bags market. The report begins with an overview of the global freezer bags market, evaluating market performance in terms of revenue and volume, followed by TMR’s analysis of key trends, drivers, and restraints witnessed in the global market. Impact analysis of the key growth drivers and restraints based on the weighted average model is also included in the report.
To compute the market size, in-depth secondary research is done. Data points such as regional splits and market split by material type has been assimilated to arrive at appropriate market estimates. The report comprises the forecast of the global revenue generated by the business in freezer bags market. TMR triangulates the data via different analysis based on supply side, demand side as well as the dynamics of freezer bags market. TMR not only conducts forecasts in terms of value, but also evaluate the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
Vital feature of this report is the analysis of the freezer bags market by region, material type, and application; and the corresponding revenue forecast in terms of incremental dollar opportunity. This is traditionally overlooked while forecasting the market. However, incremental dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as to identify potential resources from sales perspective of the global freezer bags market.
To understand key segments in terms of their growth and performance in the freezer bags market, Transparency Market Research has developed a market attractiveness index. The resulting index should help providers identify existing market opportunities in the global freezer bags market. In the final section of the report, freezer bags market competitive landscape is included to provide a dashboard view of companies that manufacture freezer bags. The report contains company profiles of some of the players in the global freezer bags market.
Some of the major players operating in the global freezer bags market include –
- C. Johnson & Son, Inc.
- International Plastics, Inc.
- Reynolds Consumer Products LLC
- Weston Brands LLC
- Star Poly Bag, Inc.
- The Glad Products Company
- Rutan Poly Industries, Inc.
- Inteplast Group
- US Poly Pack
- Elevate Packaging, Inc.
- Uline, Inc.
- Abbey Polythene Ltd.
- Universal Plastic Bag Manufacturing Co.
- Falcon Pack Industry LLC
- Maxpak Australasia Pty. Ltd.
- Polybags Limited
- WeiFang ChangLe Shuguang Industry Co., Ltd.
- Xiamen Huli Fengyi Industry Co. Ltd.
- Great American Packaging, Inc.
- Convex Innovative Packaging
In order to understand and assess opportunities in this market, the report is categorically divided into three key sections on the basis of material type, application and region. The report analyses the global freezer bags market in terms of value (US$ Mn) and volume (Mn Units).