In the recent past, packaging industry has focused on developing and adopting packaging solutions that address specific needs of the packaged product. Shrink bag is one of the most popular forms of packaging for several reasons. Compared to other forms of packaged product, shrink bag is much more affordable and often more times efficient for manufacturing. Shrink bags has been adopted across the industries including food, beverages and pharmaceuticals by offering excellent shrink properties like safe seals, high mechanical resistance and good clarity to many perishable fresh or frozen food products, such as sub-primal meat, smoked and processed meats, poultry, fish, cheese. Demand for shrink bags is expected to be driven by increasing adoption of shrink packaging technology across developing geographies of the globe.
Shrink bags Market- Market Segmentation:
Global shrink bag market is segmented on the basis of technology, type, application, material type and end use industry. On the basis of technology the global shrink bags market can be segmented as automatic, semi-automatic, fully-automatic, and manual. On the basis of type, the global shrink bag market can be segmented into sleeve wrapper bag, L-sealers, side sealers, lap sealers and shrink tunnels. On the basis of application, the global shrink bags market can be segmented into trays, books, beverages, sleeve, sachet, and others. On the basis of material type, PVC, polyolefin, and polyethylene shrink films. On the basis of end use, shrink bags market can be segmented into food & beverages, personal care, home care and others.
Shrink Bags Market - Market Dynamics:
One of the significant factors contributing towards the growth of shrink bags market is the extensive growth in the retail sector, health issues and fast lifestyle. Moreover, shrink bags market is expected to grow along with the growth of hypermarket, supermarket, and online retail sales. As many of film producers have started offering customized solution to their client which is again anticipated to drive the overall films demand in North America. Another aspect towards the growth of the shrink bags market is the growing concern towards health issues and food safety, which are related to another form of packaging material such as plastic; wherein plastic is used as a raw material for making shrink bags and wraps. Adding to this, the growing disposable income among the middle-class income group is expected to drive the growth of the shrink bags market. However, the restraining factor towards the growth ofs the shrink bags market is the non-reusable nature. Increasing consumer concerns over healthy and hygienic food are expected to create major growth opportunities for players operating in the global shrink bags market over the forecast period.
Shrink Bags Market - Regional Outlook:
Geographically, the global shrink bags market is segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and the Middle East & Africa (MEA). The global shrink bags market is expected to witness a stable CAGR over the forecast period of 2016-2024. Moreover, Asia-Pacific is expected to be the largest shrink bags market in terms of pouches, due to the rising consumption of dairy products. Apart from this, the extensive evolution of the retail sector in the growing economies such as India & China is expected to boost further the sales of the shrink bags market in Asia Pacific by the end of the forecast period of 2016-2024.
Shrink Bags Market - Major Players:
Some of the major players identified across the globe in the shrink bags market are Saitech Inc, Texwrap Packaging Systems, Ballore, Berry Plastics, Arpac LLC, Shrinkwrap Machinery Co. Ltd, Yorkshire Packaging Systems, and Extreme Packaging Machinery.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, product type, material type and end-use.
The Report covers exhaust Analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends /Issues/Challenges
- Competition & Companies involved
Regional Analysis includes:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
The report 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 in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape.
The study is a source of reliable data on:
- Key market segments and sub-segments
- Evolving market trends and dynamics
- Changing supply and demand scenarios
- Quantifying market opportunities through market sizing and market forecasting
- Tracking current trends/opportunities/challenges
- Competitive insights
- Opportunity mapping in terms of technological breakthroughs
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, North Africa)
TMR estimates the market size of various sectors using a combination of available data on the number and revenue of companies within each sub-sector and tiers of companies. The basic components used to determine market size and forecast for a specific product area are not only limited to supply-side data, but are also related to demand, industry trends, and the economic outlook. All the above data points are utilized to generate a statistical model targeting the sector marketplace. More than 300 TMR analysts across the world integrate these elements into a framework to determine the subsector market size for a base year and then forecast growth within each market.
TMR regularly interviews technology and business professionals as an ongoing effort to track the latest developments within each sector. These continuous surveys are stratified by company size and industry segment and weighted to reflect the global market place. All data are collected on an ongoing effort through a structured questionnaire rolled over the web or conducted via telephones. This provides the TMR team opportunities to request for detailed question sets, complex skip patterns, and real-time calculations, which assists respondents in answering questions involving numbers and percentages. Respondents, who are interviewed as experts, are screened and qualified based on certain criteria in addition to their decision-making authority and the scope of activity within their organizations.
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.