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Abhishek Budholiya

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Barrier Shrink Bags Market Expected to Account US$ 4,070 Mn by 2027
Barrier Shrink Bags Market is Segmented By Product Type - Round Bottom Sealed, Straight Bottom Sealed & Side Sealed

Future market insights, 8/10/2018 - Barrier shrink bags are a type of packaging solution that is made of plastic shrink films that are flexible and shrink around a product like its second skin upon application of heat. Barrier shrink bags also have barrier properties that protect the product from environmental gases, aroma, moisture etc. Barrier shrink bags are available in a variety of designs including round bottom, straight bottom and side sealed. Barrier shrink bags are widely used in the packaging of food items, as these bags increase the shelf life of perishable food products such as packed meat and cheese. Barrier shrink bags are manufactured using various materials such as polyethylene, polypropylene, EVOH, polyamide etc.

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A new report by Future Market Insights titled ‘Barrier Shrink Bags Market: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027’ provides a brief overview of the global barrier shrink bags market along with its current and projected market size for the forecast period 2017-2027. According to the research study, the global barrier shrink bags market is expected to be valued at more than US$ 2,100 Mn by 2017, and is projected to reach a valuation of about US$ 4,070 Mn by the end of 2027, growing at a robust CAGR of 6.4% during the forecast period.

Global Barrier Shrink Bags Market: Dynamics

However there are also a few factors that are expected to restrain revenue growth of the global barrier shrink bags market such as the environmental impact of plastic production. Furthermore, an inadequate storage space available for storing products that are packed with barrier shrink bags is another challenge to the revenue growth of the global barrier shrink bags market.

Global Barrier Shrink Bags Market: Segmental Highlights

The global market is segmented on the basis of product type, material type, barrier type, thickness, application and abuse strength.

By product type, the side sealed segment is expected to lead the market with a value share of more than 45% throughout the forecast period.

By material type, Polyethylene and EVOH are the most attractive segments in the barrier shrink bags market. The EVOH Segment is expected to gain 70 basis points in market share between 2017 and 2027.

Among the barrier type segments, the high barrier segment is the fastest growing segment with a market valuation of about US$ 1,381 Mn by 2017, reaching a revenue of over US$ 2,600 Mn by the end of 2027, growing at a CAGR of 6.8% during the forecast period. High barrier shrink bags are commonly used for the packaging of meat, poultry and seafood products.

Among the segments based on thickness, the 50 to 70 Microns segment stands out with the highest expected market value of just under US$ 996 Mn by 2017, growing at a CAGR of 6.8% during the forecast period.

In the segmentation based on application of barrier shrink bags, the food segment is the dominating segment with meat contributing the most to the segment’s growth. The food segment is anticipated to hold a market value of just under US$ 2,160 Mn by 2017.

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