Global PVDC Shrink Bags Market Revenue to hit $1.38Bn by 2028 at 3.5% CAGR - Exclusive Report by The Insight Partners

The Insight Partner

Growing Consumption of Meat, Poultry, and Seafood Products to Escalate PVDC Shrink Bags Market Growth

NEW YORK, UNITED STATES, January 27, 2023 /EINPresswire.com/ -- The Insight Partners published latest research study on “PVDC Shrink Bags Market¹ Forecast to 2028 - COVID-19 Impact and Global Analysis By Bag Type (Round Bottom Seal, Straight Bottom Seal, and Side Seal) and Application (Meat, Poultry & Seafood, Cheese & Other Dairy Products, and Others)”, the global PVDC shrink bags market growth is driven by the growing consumption of meat, poultry, and seafood products and the increasing use of high barrier shrink bags in food packaging.

The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue, production, and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2022 to 2028. These analyses will help the reader to understand the potential worth of investment in a particular region. The report offers in-depth assessment of the growth and other aspects of the PVDC Shrink Bags Market in important regions. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.

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Report Coverage- Details

Market Size Value in- US$ 1,088.39 Million in 2021
Market Size Value by US$ 1,383.37 Million by 2028
Growth rate CAGR of 3.5% from 2021 to 2028
Forecast Period 2021-2028
Base Year 2021
No. of Pages 140
No. Tables 58
No. of Charts & Figures 69
Historical data available Yes
Segments covered Bag Type and Application
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

PVDC Shrink Bags Market: Competition Landscape and Key Developments

Allfo GmbH & Co. KG; Astar Packaging Pte Ltd.; Dow; Eezypak; PREMIUMPACK GMBH; SCHUR FLEXIBLES; Sealed Air; Spektar d.o.o.; Sunrise Packaging Material (Jiangyin) Co., Ltd; and WINPAK LTD. are among the leading players operating in the global PVDC shrink bags market.

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Key Developments

1. In 2019, Winpak launched Re-Fresh with high barrier recycle-ready solutions to address packaging needs.
2. In 2020, ALLFO introduced a vacuum bag featuring the renowned high barrier while being fully recyclable.

In 2020, Asia Pacific held the largest share of the global PVDC shrink bags market. Increase in demand for meat, poultry and seafood, cheese, and dairy products, rise in population, increase in disposable income, and substantial economic conditions are the major factors driving the PVDC shrink bags market in the region. Moreover, the major market players in the region have invested heavily in R&D initiatives, and the manufacturers focus on product development and innovation and product portfolio expansion strategies.

Increasing Use of High Barrier Shrink Bags in Food Packaging:

The increasing demand for fresh, highly nutritional, and tasty food creates the need for packaging methods to extend product shelf life and enhance product quality at consumption moment. There is a high demand for packaging products that can provide greater protection, longer self-life, and excellent barrier properties in the food & beverages sector. A high barrier shrink bag protects products throughout the distribution process and also helps to keep the products fresh longer and reduce puncture and package failures. They are also recommended for packaging processed meats and dairy products and are highly used for poultry, beef, cheese, pork, and turkey packaging. PVDC packaging is highly used for fresh meat packaging since it offers excellent oxygen and water vapor barrier properties. The factors mentioned above are driving the PVDC shrink bags market.

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Impact of COVID-19 Pandemic on PVDC Shrink Bags Market:

The COVID-19 pandemic has affected economies and industries in various countries. The governments of various economies took possible steps to restrict the spread of the novel coronavirus by announcing a country-wide lockdown, which directly impacted the growth of industrial sectors. The demand for PVDC shrink bags for different applications has been negatively affected due to the disruptions caused by the COVID-19 pandemic. Due to the COVID-19 pandemic, meat packaging facilities were closed or operating at reduced working hours, affecting the processing capacity. However, various countries have restarted their business activities. As a result, the demand for shrink bags is expected to increase in the coming months.

PVDC Shrink Bags Market: Segmental Overview

Based on bag type, the PVDC shrink bags market is segmented into round bottom seal, straight bottom seal, and side seal. The round bottom seal segment held the largest share of the global PVDC shrink bags market in 2020. Several types of shrink bags are available in the market, depending upon the application for which they are required. Shrink bags with round bottom seals are used for fresh meat, sausage meat, and export purposes.

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Based on application, the global PVDC shrink bags market has been segmented into meat, poultry & seafood, cheese & other dairy products, and others. The meat segment held the largest share of the global PVDC shrink bags market in 2020. PVDC shrink bags are used for convenient packaging of meat products. They can deliver consistent protection from dry and high-moisture environments and increase the shelf life of fresh meats.

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The Insight Partners
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