Published: Jul, 2019
The competitive landscape of the global boil in bags market is fragmented with the presence of several players, says Transparency Market Research(TMR). Some of the key players profiled in the Boil-in Bags Market are Shenzhen Dingqi Pack Co. Limited, Shenzhen Ken Hung Hing Plastic Products Co. Ltd., and Synpac Limited.
These players are focusing towards the product innovation, use of biodegradable packaging items and business expansion to strengthen their foot hold in the boil in bags market.
As per a report by TMR, the global boil in bags market is projected to touch a valuation of US$ 187.5 mn by the end of 2026. The market is anticipated to rise at a CAGR of 6.1% during the forecast period. In the years 2017, the market analyst recorded opportunities in terms of volume in the global boil in bags market at US$ 240 mn in 2017.
On the basis of region, Asia pacific is projected to hold highest share of the boil in bags market during the forecast period. This is mainly due to the blooming instant food industry in the region. Further, presence of several key players in the region is another factor expected to take this region on the growth trajectory. Further based on material type, Polyethylene segment is likely to dominate the global boil in bags market over the forecast period. This is mainly due to the easy accessibility and temperature resistance properties of the product segments.
Need to Reduce Cooking Time to Offer Competitive Advantages
The global boil-in bags market is projected to experience a remarkable growth during the forecast period. This is mainly due to the flouring instant food market across the globe.
Boil-in-bag is a special form of packaging that are used to cover instant cooked food. A consumer has to just put hot water in the packaged food to directly cook item stored.
Factors like changing consumer food reference, growing working population of female employees, need to reduce cooking time are some of the prominent factors expected to drive the global boil in bags market in the coming few years.
However, factors like lower nutrition level in instant cook food, stringent FDA approval and rise in number of health conscious population is a major factor projected to bolster growth in the global boil in bags market in the coming few years. In addition to this, rising awareness among consumers regarding use of environment friendly products may hinder global boil-in-bag market growth in the coming years due to the non-biodegradable nature of plastic and polyethylene boil-in-bags.
Continuous Innovation by Manufacturers to Offer Lucrative Gains
Increasing use of boil in bags packaging for frozen foods is considerably accelerating the boil in bags market. Frozen foods are increasingly used in restaurants and hotel owing to the long shelf life. This in turn, is likely to propel product demand and boost boil-in-bag market size in the near future.
Further, continuously investing in research and development activated to improve functioning of boil in bags packaging is expected to take product innovation to a higher level. This is expected to make player design packaging that attract existing customers and new customers, hence offering a competitive gain to players. Moreover, many packaged and frozen foods manufacturing companies are increasingly launching their products in new boil-in-bag
The above information is derived from TMR’s report titled, “Boil-in Bags Market (Material Type - Plastic, Aluminum Foil, Others; Appearance - Transparent, Opaque, Printed; Packaging Size - Less than 150X240 mm, 150X240 to 240X380 mm, 240X380 to 380X500 mm, More than 380X500 mm; Sales Type - Retail Sales, Institutional Sales; Application - Frozen Food, Ready-to-eat Meals, Rice and Cereals, Bakery and Confectionary, Others) - Global Industry, Size, Share, Growth, Trends and Forecast 2018 – 2026.”
The boil in bags market has been segmented as follows -
- Aluminum Foil
- Less than 150X240 mm
- 150X240 to 240X380 mm
- 240X380 to 380X500 mm
- More than 380X500 mm
- Retail Sales
- Institutional Sales
- Frozen Foods
- Sea Food and Others
- Ready to Eat Meals
- Rice & Cereals
- Bakery & Confectionary
- North America
- Latin America
- Asia Pacific (APAC)
- Middle East and Africa (MEA)
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