Press release
Inside the USD 2.48 Billion Shrink Bag Boom: How Asia & ASEAN Are Reshaping the Global Packaging Market
The global medium barrier shrink bags market is sized in this report at USD 2,480 million for 2024 with a compound annual growth rate of 6.1% projected through 2031, reaching market size USD 3,754 million by 2031. With an average selling price of USD 4,600 per ton, the total units sold in 2024 globally is around 539,130 ton. With a factory gross margin of 34%, the factory gross profit is USD 1,564 per ton and cost of good at USD 3,036 per ton. The COGS breakdown is raw polymer resins and barrier layer materials, film extrusion and lamination conversion energy & maintenance, converting (printing, cutting, bag-making), labor and packaging/transport. A single line full machine production capacity is around 2,000 per line per year. Downstream demand is concentrated in food processing particularly meat, poultry and seafood followed by dairy/cheese, select pharmaceutical/medical packaging, and a smaller share in industrial and consumer goods applications.
Latest Trends and Technological Developments
Sustainability and mono-material designs have been headline themes: on September 2024 Amcor announced the Clear-Tite 40 shrink bag, a thinner, higher-uniformity shrink bag engineered for meat packaging that Amcor reported reduces carbon footprint and material usage compared with legacy constructions. On June 2025 Amcor also publicized a Perflex® shrink bag design featuring an integrated handle and production efficiencies intended to reduce overall material use and secondary packaging steps. In early 2025 major players continued to emphasize recycled-content and circularity commitments Berry Global highlighted progress on PCR usage and circular-economy initiatives in its March 2025 sustainability updates while several suppliers have been promoting recycle-ready or mono-PE shrink solutions and new converting equipment capable of converting higher-performance mono-material laminates at commercial speeds. On the equipment side, suppliers and systems integrators continue to advance higher-throughput, CIP-friendly shrink and vacuum systems suitable for large processors, and film-line vendors are offering multilayer coextrusion lines that support EVOH or other barrier layers at higher speeds and more precise thickness control changes that reduce waste and improve yield on thin-gauge, high-performance structures. These recent releases and announcements illustrate how product performance (barrier + shrink), material circularity and manufacturing efficiency are currently converging in supplier roadmaps.
AquaHarvest Fisheries, a leading seafood exporter based in Vietnam, purchases 15 metric tons of high-performance Medium Barrier Shrink Bags from Sealed Air Corporation for their premium frozen shrimp line. The order, valued at USD 4,800 per metric ton, is finalized to ensure superior protection against freezer burn and oxygen migration during long-haul transport to North American markets.
The product is deployed at Bridgford Foods in California for their pre-sliced, pre-cooked beef jerky line. The Medium Barrier Shrink Bags, with their specific oxygen transmission rate (OTR) of 15-25 cc/m2/24hr, are used as the primary vacuum-skin packaging. This critical application, costing USD 0.12 per unit bag, extends the product's shelf life by 60% and dramatically reduces purge loss, saving the company an estimated USD 75,000 annually in reduced waste and rejected shipments.
Asia is the single largest regional market for shrink and flexible packaging by volume, driven by large food-processing bases, growing modern retail, and rapidly expanding cold-chain investments. China and India continue to dominate installed converting capacity and resin demand, with South Korea, Japan and Taiwan supplying both advanced film technologies and high-value finished bags. In the region there is accelerating adoption of mono-material PE and recyclable structures for shrink applicationsboth because of local recycling initiatives and because multinational processors demand more circular supply chains across their Asia operations. Processors in Asia are also upgrading to higher-speed vacuum/shrink lines to meet export-quality specifications for seafood and chilled meat; this equipment upgrade cycle is increasing demand for higher-performance medium-barrier films that can withstand high-shrink ratios while preserving visual clarity. From a commercial standpoint, Asia also shows strong downstream diversification: while food remains dominant, medical- and pharma-related demand (sterile barrier pouches and specialty shrink bags) is a steadily growing percentage in higher-income Asian markets. For procurement and cost structures, resin price volatility (PE, EVOH and adhesive tie layers) materially affects Asia producers because feedstock sourcing and freight comprise a large portion of landed COGS. Asian converters therefore emphasize on-site film capacity or regional supply agreements and often invest in local co-extrusion capability to control lead times and margins.
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Medium Barrier Shrink Bags by Type:
Round Bottom Sealed
Straight Bottom Sealed
Side Sealed
Others
Medium Barrier Shrink Bags by Product Category:
PA/PE Shrink Bag
EVOH Medium-Barrier Shrink Bag
Multilayer Co-Extruded Shrink Bag
Others
Medium Barrier Shrink Bags by Market Segment:
Uniaxial Shrink Bag
Biaxial Shrink Bag
High-Shrink Bag
Others
Medium Barrier Shrink Bags by Features:
High Optical Clarity
High Sealable Edge
Puncture Resistance
Extended Shelf Life
Others
Medium Barrier Shrink Bags by Material:
EVOH Based Materials
PVC Free Materials
Biodegradable Films
PVDC Free Materials
Others
Medium Barrier Shrink Bags by Application:
Meat and Poultry
Seafood
Dairy
Others
Global Top 10 Key Companies in the Medium Barrier Shrink Bags Market
Amcor
Sealed Air Corporation
Viscofan
TC Transcontinental
Kureha Corporation
Flexopack
Schur Flexibles Group
Allfo
Winpak
PREMIUMPACK
Regional Insights
Within Southeast Asia, ASEAN is a fast-growing pocket of demand for medium barrier shrink bags, fueled by expanding cold-chain exports (seafood, poultry) and the modern retailing shift in urban centers. Indonesia, with a large domestic protein consumption base and a growing frozen/processed food manufacturing sector, is among the top ASEAN demand centers for shrink-bag solutions; country-level market reports identify Indonesia as a market with granular segmentation by micron, automation level and application (food/consumer/pharma). Across ASEAN, market growth is supported by increased foreign investment in processing plants that require packaging aligned with export standards, and by local converters responding to both domestic and regional buyer specifications (including recyclable/mono-material options). Importantly, many ASEAN converters rely on imported barrier resins and film-production equipment, which makes them sensitive to freight costs and trade policy changes.
Key constraints include raw-material price volatility (PE, EVOH, specialty adhesives), regulatory shifts on single-use plastics and recycling standards that may force reformulation or capital expenditure on mono-material solutions, and the technical challenge of balancing shrink performance with increased recyclability. Another operational challenge is capital intensity: high-performance film co-extrusion lines and fully automated converting suites require substantial CAPEX and specialist maintenance; smaller converters face squeeze pressure on margins when competing for high-volume, low-cost meat packaging contracts. Supply-chain disruptions (tariffs, freight disruptions) and shifting sustainability requirements also complicate long-term contract terms between large processors and suppliers.
Suppliers with integrated film-extrusion and converting capability, or those that maintain long-term resin procurement agreements, are best positioned to manage margin volatility. Investing in mono-PE or certified recycle-ready structures offers both regulatory resilience and marketing value, but successful adoption requires investment in process optimization (to maintain seal strength and shrink uniformity at lower gauge). For processors, the highest ROI initiatives are (1) collaborating early with packaging suppliers on downgauging and mono-material trials, (2) optimizing line speeds and dwell-time profiles to reduce film scar and rework, and (3) shifting toward suppliers that can demonstrate validated recyclability certificates and circular content. In ASEAN, local converters that can provide nearshore supply with technical support for equipment and changeover can capture share from imported finished bags by offering shorter lead times and tailored service.
Product Models
Medium Barrier Shrink Bags are multilayer shrinkable films designed to provide moderate protection against oxygen transmission and moisture loss.
Round Bottom Sealed bags are designed with a curved bottom seal to eliminate corner stress, reduce film thinning, and provide a smooth contour around irregular or cylindrical products. Notable products include:
FlexiCurve 60 - Coveris: Designed for processors needing smooth shrink around whole poultry and bone-in meats.
RoundPack MB 50 - AGQ Films: Economical option suited for fresh pork and beef with consistent shrink behavior.
CurveSeal Pro - Flexopack: Strong mechanical performance with minimal seal stress, ideal for export meats.
CurveFit MB - VF Verpackungen: Designed for processors needing tough puncture resistance for bone-in packaging.
PREMIUMfresh 45 μm Round Bottom Shrink Bags - PREMIUMPACK: High-barrier round-bottom shrink bags for meat, cheese and similar foods.
Straight Bottom Sealed bags have a flat bottom seal, offering stability and cost efficiency for products with regular shapes. Notable products include:
BaseLine Straight 50 - WINPAK: Cost-effective medium-barrier bag suited for processed meats and poultry portions.
Shrink Bags Straight Bottom (DS) type - PentaPak (PentaTerm® line): Their DS (straight bottom) bags are co-extruded shrink sleeves with good barrier, shrink, and sealing properties.
Barrier Shrink Bags (straight-seal option) - DPG Packaging Ltd: Their shrink bags are available with straight bottom seal (among other seal types), suitable for vacuum shrink packaging of meat and processed foods.
Straight-seal / Bottom-seal Shrink Bags - NeoShrink: Offers straight-bottom (or round) shapes for meat, cheese and other protein packaging with medium/high barrier.
Shrink Bags (PA/PE multilayer) - Plásticos Arias: Their shrink bag range includes bottom sealing (curved or straight), and can be made to order for stable-shaped products.
Side Sealed bags are sealed on the side rather than the bottom, allowing for a larger opening that supports high-speed loading and improves process efficiency. Notable products include:
MaxOpen SideSeal - Atlantis-Pak: Supports automated packaging lines with enhanced loading efficiency.
SidePack MB - Kureha: Engineered for superior seal strength and durability during bulk transportation.
Standard Barrier Bags (side-seal option) - Sealed Air (under the CRYOVAC® brand): Their barrier shrink-bag line includes side-seal and end-seal configurations, suitable for fresh meats, cheeses, fish, processed meats.
Barrier Shrink Bags (side-seal / side configuration) - MP SYSTEM (ASL50 line): Their bags are offered with side-seal option in addition to bottom-seal shapes.
Barrier Shrink Bags (side-seal) - DPG Packaging Ltd: Shrink bags with side-seam sealing, suitable for products needing efficient sealing and shelf-ready presentation.
The medium barrier shrink bag market in 2024 is sizeable and growing and the sector is being reshaped by simultaneous pressures for higher performance (longer shelf life, improved presentation), cost control and sustainability. Asia and ASEAN are central to future volume growth: Asia supplies both equipment and materials and is the largest volume market, while ASEAN (including Indonesia) represents one of the faster-growing regional demand pools because of rising processed food output and export activity. In the near term the winners will be those that can combine technical film expertise, resilient supply chains, and credible sustainability/mono-material solutions while maintaining cost competitiveness.
Investor Analysis
capital intensity and technological differentiation among suppliers; long-term supply agreements for barrier resins; product roadmaps toward mono-material and recycle-ready shrink solutions; and regional manufacturing footprints in Asia/ASEAN to capture growth. How to use the information: evaluate potential investments by stress-testing portfolios against resin-price volatility scenarios, assess management plans for CAPEX to transition to mono-material lines, and prioritize companies with proven product trials and customer commitments in large food-processing markets. Why it matters: demand for medium barrier shrink bags is tied to food-safety, export quality and retail presentationareas with structural growth while near-term margin resilience depends on supply-chain control and the cost/benefit of sustainability transitions. Investors will therefore be best served by targeting companies with flexible manufacturing, strong customer relationships (large food processors), and clear, funded strategies to meet recyclability and material-substitution requirements.
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5 Reasons to Buy This Report
It consolidates up-to-date commercial metrics (2024 market size and a 20242031 CAGR) and price benchmarks for medium barrier shrink bags.
It provides regionally focused insight for Asia and ASEAN useful for market-entry and capex planning.
It synthesizes the latest supplier product and sustainability announcements that materially affect product roadmaps and procurement decisions.
It contains practical production-capacity context for film and converting lines so investors/manufacturers can model throughput and CAPEX scenarios.
It lists leading suppliers and competitive dynamics to inform supplier selection, M&A screening and partnership strategies.
5 Key Questions Answered
What is the 2024 market value and the forecasted CAGR through 2031 for medium barrier shrink bags?
How are sustainability and mono-material trends reshaping product formulations and customer procurement?
What are typical production capacity ranges for film extrusion and converting lines relevant to shrink bag supply?
Which Asian and ASEAN markets represent the largest and fastest-growing end-demand for medium barrier shrink bags?
Who are the major global suppliers and what competitive advantages differentiate them?
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: key insights, key emerging trends, etc.
Chapter 3: Manufacturers competitive analysis, detailed analysis of the product manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 5 & 6: Sales, revenue of the product in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: The main points and conclusions of the report.
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