Shrink Bags Market is expected to Witness Significant Growth between 2020-2027

Shrink bags are also often known to be shrink wraps. They are thin plastic material, high-clarity 100-gauge PVC that gets shrunken and tighten on applying heat. These bags are useful to seal important papers, bags, gifts, food items, electronic goods, and other items that might require protection for packing, storing, or shipping. Shrink bags or shrink wraps offer protection against bugs, dirt, debris, mold, and other damages. They are similar to vacuum pouches that are useful in storing poultry products. Due to their excellent shrink properties like high mechanical resistance, safety seals, and good clarity, shrink bags, have huge market demand. Shrink bags also provide excellent oxygen and moisture barrier protection to food products.

Shrink bags are considered to be one of the most powerful forms of packaging, owing to their time efficiency in manufacturing, affordability, multiple layer protection, and ample end-use applications. These bags have been accepted across several different industries, which include pharmaceuticals, food & beverages, electronics, and cosmetics.

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Region wise, North America accounts for the major market share of shrink bags, which is attributed to rise in consumption of poultry and dairy and dairy products such as meat, fish, and cheese. Furthermore, as the retail sector is growing at a fast pace in developing countries such India and China, the Asia-Pacific region is expected to register the most accelerated growth rate in the coming years.

Companies covered :-
Sealed Air Corp., Winpak Ltd., Atlantis-Pak Co. Ltd., Kureha Corporation, Duropac, Coveris Holdings S.A, Schur Flexibles Group, Bemis Company Inc., Flavorseal Llc., Allfo Vakuumverpackungen Hans Bresele KG, Supralon International AG, Flexopack SA, Vac Pac Inc., Vector Packaging Inc., and Millepack srl.

Regions covered :-
North America (U.S., Canada and Mexico), Europe (Germany, UK, France, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and the Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and the Rest of LAMEA)

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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

The main factor that drives the global shrink bags market increase in extensive growth of the retail sector, majorly hypermarket, supermarket, and online retail sales. In addition to this, the increasing number of health concerns, fast-changing lifestyles, and rising disposable income among the middle-income group, are a few other major factors that drive the global shrink bag market. Furthermore, increase in consumption of poultry products, high flexibility of shrink bags, and demand for contamination-free food propel the demand for shrink bags.

However, biggest restrain in the shrink bags market is the non-reusable nature of these bags, which also causes environmental threat, and thus, hampers the growth of this market. Also, the presence of alternative packaging solutions is hindering the growth of the shrink bags market globally.

Although, rapidly increasing production and consumption of bone meat in the Middle East and European countries, results in high usage of shrink bags and is thereby, creates many lucrative opportunities for the players operating in the global shrink bags market. Along with this heavy-duty adhesive packaging material requirement by the shipping and logistics industry will also bolster the global shrink bags market.

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Important Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of Shrink bags market.
– Changing market dynamics of the Shrink bags market Industry.
– In-depth segmentation of Shrink bags market by Type, Application etc.
– Historical, current and projected market size in terms of volume and value.
– Recent industry trends and developments.
– Competitive landscape of Shrink bags market.
– Strategies of key players and product offerings.
– Potential and niche segments/regions exhibiting promising growth.

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