Vacuum Shrink Bags Market

Vacuum Shrink Bags Market Outlook (2023 to 2033)

The demand for vacuum shrink bags market is anticipated to record an average CAGR of 5.0% from 2023 to 2033. The vacuum shrink bags market size is projected to surpass USD 1,392.1 million in 2023 and is likely to attain a valuation of USD 2,267.6 million by 2033.

The adoption of vacuum shrink bags is growing as they are considered one of the most important forms of packaging. As a result, the use of vacuum shrink bags has grown tremendously as compared to other types of packaging. Demand for vacuum shrink bags is likely to rise as they are more affordable, which is expected to grow the vacuum shrink bags market over the forecast period.

Attributes	Details
Market Share (2022)	USD 1,325.8 million
Market Share (2023)	USD 1,392.1 million
Market Share (2033)	USD 2,267.6 million
Market Share (2023 to 2033)	5.0%

Key players are actively following market trends to make their vacuum shrink bags more durable, high-tensile, and resistant. The sales of vacuum shrink bags are rising as they are used for packaging food items, including meat, seafood, poultry, fruits & vegetables, etc. Vacuum shrink bags also help to increase the shelf life of food items which is likely to boost the market growth.

Among many advantages of vacuum shrink bags, it provides excellent oxygen, spoilage, and antioxidants which protect food from moisture and dust. The demand for vacuum shrink bags is anticipated to rise as it contains multiple layers, which keep the product protected and create a competitive advantage over other types of flexible packaging bags. These factors are anticipated to boost the market share in the coming years.

Manufacturers in the market are performing numerous experiments to produce vacuum shrink bags that keep food fresh for a longer time. This ultimately reduces food wastage and improves the taste of food in its sealed bag. There is no chemical interaction on packed food which is likely to propel the sales of vacuum shrink bags during the forecast period.

What are Some Factors Promoting the Market?

A key factor contributing to the growth of the vacuum shrink bags market is the extensive use of these bags in the retail sector. In addition, the sales of vacuum shrink bags are growing due to increasing demand in supermarkets, hypermarkets, e-commerce, and others. Furthermore, the vacuum shrink bags market size is anticipated to rise rapidly due to increasing concerns about food safety and hygiene of food products. The high flexibility of vacuum shrink bags is driving the demand for vacuum shrink bags during the forecast period.

What are the Growth Restraining factors of the Vacuum Shrink Bags Market?

Some factors which are likely to hamper the market growth are:

• The non-reusability of vacuum shrink bags.
• Loss of preservation.
• Basic vacuum bags are unable to open easily.

The fact that these bags are not reusable, which therefore poses an environmental hazard, is one of the main barriers to market growth. Additionally, the existence of alternative packaging options is impeding the sales of vacuum shrink bags. These were a few main factors that may restrain the growth of the vacuum shrink bags market.

Category-wise Insights

Which Material Type Segment is Dominating the Vacuum Shrink Bags Market?

Polyethylene material-type vacuum shrink bags dominate the market all around the globe as compared to other materials. Polyethylene is widely used for packaging groceries, agriculture, food, and houseware, among others, which is anticipated to rise in the vacuum shrink bags market in coming years. In 2022, the polyethylene segment captured 34.1% shares in the global market.

Region-wise Insights

How is the North America Vacuum Shrink Bags Market Outlook?

North America is anticipated to dominate the vacuum shrink bags market during the forecast period. North American vacuum shrink bags acquire 19% of the share in the market all around the globe. In 2022, North America accounted for 26.1% of shares in the global market. The manufacturer's preference is towards vacuum shrink bags which act as cost-effective for a variety of end-use applications.

What is the Growth Potential Europe Vacuum Shrink Bags Market?

The Europe region placed second in the vacuum shrink bags market, acquiring 14% of the share in the market size all around the region. In 2022, Europe captured 21.2% shares in the global market.

The Europe region has shown a healthy CAGR due to high consumer acceptance and the growing application scope of vacuum shrink bags across various industries. The leading manufacturing companies are raising their products as per the demand by the end user during the forecast period.

Competitive Landscape

How is the Start-up Ecosystem in the Vacuum Shrink Bags Market?

The vacuum shrink bags start-up companies are making a variety of sealed bags, which are cost-efficient and keep food fresh without changing its taste are some emerging trends in the vacuum shrink bags market. Recently, nine-layer superior quality vacuum shrink bags were innovated, which helps your packed material from UV rays, gases, and water vapor. The unique and innovative things created by the start-up manufacturing companies with their ideas and as per consumer's demand. Customers can use these high-quality vacuum shrink bags easily without worrying about food safety.

Who are Some Prominent Contestants in the Vacuum Shrink Bags Market?

The key players in the market are trying to focus on expanding their product portfolio, presence, and operation through acquisitions. Furthermore, key players are developing and launching a new product under the vacuum shrink bags portfolio, considering the requirement of the end-users, such as developing recyclable vacuum shrink bags.

Recent Developments in the Market:

• With the debut of its new SFP Light steam flushing system in December 2022, MULTIVAC hopes to immediately vacuum-pack hot food without first chilling it, which could save energy and increase the shelf life of the finished product.
• Amcor, a pioneer in packaging globally, introduced Eco-Tite R in February 2021. It is the first shrink bag for fresh and processed meat, poultry, and select cheeses made to be recycled. Amcor Eco-Tite R is made to extend shelf life, uphold food safety, cut down on food waste, and it can be recycled in the polyethylene (PE) plastic recycling streams already in place.
• Sealed Air company has launched its unique product, ‘chlorine-free vacuum shrink bags,’ which help to improve the quality of food and maintain food safety, and are sustainable. They are lower in carbon as compared to other vacuum shrink bags.
• A collaborative agreement between Sealed Air Corp. and Plastic Energy, a market leader in cutting-edge recycling technology, was announced in August 2020. Furthermore, Plastic Energy Global, the parent business of Plastic Energy, has received equity funding from Sealed Air.
• August 2020. To create a 100% recyclable thermoforming film for their meat and sausage products, Mondi collaborated with the Austrian meat producer Hütthaler. The film serves as a barrier to safeguard the food and increase its shelf life. It is composed of a mono-material solution that can be recycled. This movie received the top ‘ AAA ‘ recyclability classification from the independent cyclos-HTP Institute for Recyclability and Product Responsibility.
• To provide customers with greater flexibility and a wider selection of products, including sustainable packaging solutions, Mondi made investments in its flexible packaging operations in the Russian cities of Aramil and Pereslavl in July 2020.
• In May 2020, Berry Global Inc. launched a partnership with its dependable client, Mondelçz International, to provide Philadelphia, the most well-liked cream cheese on the planet, with packaging made of recycled plastic. The plastic material in the package was collected using cutting-edge recycling technology as a result of Berry's and SABIC's relationship, which was announced earlier this year.

Key Players in the Market

• Sealed Air Corp.
• Atlantis-Pak Co. Ltd.
• Duropac, Coveris Holdings S.A.
• Bemis Company Inc.
• Supralon International AG
• Flexopack SA

Scope of the Report

Attribute	Details
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	USD million for Value
Key Regions Covered	North America; Latin America; Europe; Asia Pacific; The Middle East & Africa (MEA)
Key Countries Covered	United States, Canada, Germany, United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of EMEAI, Brazil, Peru, Argentina, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, ASIAN, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others
Key Segments Covered	Material Type, Barrier Type, Thickness, Application, Region
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Market Segmentation

By Material Type:

• Polyethylene (PE)
• HDPE
• LLDPE
• LDPE
• Polypropylene (PP)
• Polyamide (PA)
• Bo-axially Oriented Polyethylene Terephthalate (BOPET)
• EVOH
• Inorganic Oxide Coatings
• PVDC
• Others

By Barrier Type:

• Low Barrier (1000 to 100 cc-mil/m2-atm)
• Medium Barrier (100 to 50 cc-mil/m2-atm)
• High Barrier (50 to 0.1 cc-mil/m2-atm)
• Ultra High Barrier (0.1 cc-mil/m2-atm)

By Thickness:

• Up to 50 microns
• 50 to 70 microns
• 70 to 90 microns
• 90 to 110 microns
• Above 110 microns

By Application:

• Food
• Meat
• Seafood
• Poultry
• Cheese and Dairy
• Other Food Products
• Electronics
• Cosmetics & Personal Care
• Homecare
• Healthcare
• Industrial
• Others

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• The Middle East & Africa (MEA)

Frequently Asked Questions

What is the Growth View for the Vacuum Shrink Bags Industry?

The vacuum shrink bags market is likely to advance at a CAGR of 5.0% through 2033.

Which Region Dominates the Vacuum Shrink Bags Market Share?

The North American region is anticipated to hold a substantial market share of 19.0% by 2033.

What is the Current Quotation of the Vacuum Shrink Bags Industry?

The vacuum shrink bags market is anticipated to surpass USD 1,392.1 million in 2023.

What is the Succeeding of the Vacuum Shrink Bags Industry?

The vacuum shrink bags market is expected to account for USD 2,267.6 million by 2033.