Ovenable Shrink Bags Market: An Overview
The ovenable shrink bags are most commonly used in the primary packaging of perishable food items. These bags are made with material that is oven safe and is used in packaging of mostly those food items which are often pre-marinated and only require heat for complete cooking. The bags are gaining tremendous popularity among manufacturers in the packaged and processed food industry. The manufacturers and end-users prefer ovenable shrink bags over other primary packaging solutions for the packaged food products.
The manufacturers prefer ovenable shrink bags as they are a comparatively convenient packaging alternative that is easier to transport without many restrictions. The ovenable shrink bags are also gaining popularity among the consumers as it helps in saving a lot of time in the cooking process and is also economical as compared to other oven-safe products that are available in the market. The increasing demand from the manufacturers in the food industry as well as from the end-users is fuelling the market growth of ovenable shrink bags. The ovenable shrink bags market is anticipated to expand at a steady compound annual growth rate during the foreseeable future.
Ovenable Shrink Bags Market: Dynamics
The packaged food industry is one of the major contributors in enhancing the market demand for ovenable shrink bags. The rapid increase in the urbanization and fast-paced lifestyle of modern consumers is boosting the demand for processed food in the global market. The packaged food items are not only convenient for the consumers but are also time-saving and comparatively economical than the takeaways and other alternatives.
The increasing demand for ready to eat meals is experienced in all major parts of the globe. The sheer number of food items being introduced in the market with the ready to eat format is very high. Many players are entering the processed food industry with innovative products and regional delicacies to capture the elevated demand in the market. Ovenable shrink bags are the choice packaging solutions among these manufacturers as they are an easily available and economical alternative.
Customization in the ovenable shrink bags market is one of the key opportunities for the manufacturers to gain maximum market share. The processed food industry which is the largest end-user industry of the ovenable shrink bags is highly competitive and product differentiation and brand identity is a priority for most manufacturers in order to attract the maximum number of customers. Many players in the target market are offering customization in terms of colours, size, covert tamper evidence solution, labelling, etc. Manufacturers like Sealed Air Corporation are offering ovenable shrink bags in a variety of specifications in terms of gauges, transparency, size, etc.
The increasing trend of preparing gourmet recipes at home has gained significant traction during the pandemic. The ovenable shrink bags give a number of benefits to the users like reduced cooking time, ease in preparation and clean up, seal reliability and abuse resistance. These are highly favourable properties by the end-users. The ovenable shrink bags also allow users to effectively refrigerate and reheat the food items keeping the initial quality, moisture and aroma intact as a result of its superior barrier properties. All these factors are anticipated to bolster the market demand for ovenable shrink bags.
As a result of the Covid-19 pandemic, the ovenable shrink bags market growth was significantly dampened. This is mainly because of the restrictions and lockdowns imposed by the national governments of various regions. The decreased manufacturing efficiency as a result of reduced manpower and delay in shipment of raw materials due to the restrictions imposed on the logistics and transport industry negatively impacted the market growth. However, with the ongoing lifting and lockdowns and ease on restrictions, the demand for ovenable shrink bags is gaining pace in the global market and is anticipated to recover rapidly.
Ovenable Shrink Bags Market: Segmentation
The ovenable shrink bags market can be segmented by product type, thickness, barrier type and end use.
By Product Type, the ovenable shrink bags market can be segmented as
- L-sealers Bags
- Sleeve Wrapper Bags
- Side Sealer Bags
- Shrink Sealer Bags
By Thickness, the ovenable shrink bags market can be segmented as
- Less than 70 microns
- 70 – 90 microns
- More than 90 microns
By Barrier Type, the ovenable shrink bags market can be segmented as
- High Barrier
- Ultra-high Barrier
By End Use, the ovenable shrink bags market can be segmented as
- Pre-marinated Food
- Pre-processed Food
- Other Food Items (Bakery, Vegetables)
Ovenable Shrink Bags Market: Regional Outlook
The rise in disposable income and per capita expenditure of the consumers in the developing nations of the Asia Pacific region is bolstering the market demand for processed and ready to eat food products. This is anticipated to generate elevated demand for ovenable shrink bags in the Asia Pacific region in the coming years. North America captures the largest market share in the global ovenable shrink bags market with key players operating in the region. North American ovenable shrink bags market is projected to expand at a steady compound annual growth rate during the foreseeable future.
Ovenable Shrink Bags Market: Key Players
Key players in the ovenable shrink bags market are,
- Sealed Air Corporation
- Flavorseal, LLC
- Flexopack S.A.
- Aalmir Plastic Industries
- Flexipol Packaging
- Sirane Group
- Huizhou ASUWANT Plastic Packaging Co., Ltd.
- Jiangsu Sunkeyi Packaging High-tech Co., Ltd.
- Dongguan Bochen Plastic Technology Co., Ltd.
- Krehalon B.V.
- Globus Group
The report ovenable shrink bags market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on cement packaging market segments and geographies.
Regional Analysis Includes-
- North America
- Latin America
- Asia Pacific
- Middle East & Africa (MEA)
- A detailed overview of the parent market
- Changing ovenable shrink bags market dynamics in the industry
- In-depth ovenable shrink bags market segmentation
- Historical, current, and projected market size regarding volume and value
- Recent industry trends and developments in the ovenable shrink bags market
- Competitive landscape
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for players to sustain and enhance their market footprint
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.