The global freezer bags market was valued at US$ 3,654.6 Mn in 2017 and is expected to be valued at US$ 5,102.8 Mn in 2026, as indicated by the latest research report published by Transparency Market Research. The global freezer bags market is characterized by the growing demand of freezer bags owing to their wide-spread usage in food, pharmaceutical and other industries. The consumer demand is also rising due to the growing disposable income worldwide. The market is also marked with the advancement in the manufacturing technology. Food sector will reportedly remain the predominant end-use industry generating the maximum demand for freezer bags.
Key market characteristics observed in the global market for freezer bags include high demand for private label brands and various expansion activities made by key players of freezer bags market. The demand for freezer bags from sectors other than food is also rising. The market volume for global freezer bags is expected to expand 1.4X during the forecast period 2018-2026. The market is expected to expand at a CAGR of 3.8% in terms of market value during the forecast period, 2018-2026.
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Transparency Market Research, in its report titled, “Freezer bags Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018-2026,” has segmented the global freezer bags market by material type, application and by geographic regions.
HDPE Leads with More than Half of the Market Value Share, by Material Type
On the basis of material type, the global freezer bags market is segmented into HDPE (High-density polyethylene), MDPE (Medium-density polyethylene) and LDPE (Low-density polyethylene). HDPE, the most commonly used material for the manufacturing of freezer bags, is the leading segment with market share of over half of the global market. MDPE is the fastest growing segment in the market owing to their increasing uptake. LDPE segment contributes about a quarter to the freezer market.
Application-wise, Food Industry Retains Top Consumer Position
Based on application, the market is divided into food, pharmaceuticals, medical devices, stationery and others. The food segment is further divided into frozen specialties, baked foods, meat, poultry & seafood, confectionary, snacks and other food products. Food is the largest segment, contributing more than half to the total freezer bags market. Others segment is the fastest growing segment based on application. Among the food segment, meat, poultry & seafood is the largest segment in terms of market value. The said segment contributes about one-third to the global freezer bags market.
North America & Europe to Remain Key Markets, Emerging Economies to Develop Lucrative Markets
The global freezer bags market is segmented geographically into five key regions including North America, Latin America, Europe, Middle East and Africa (MEA) and Asia Pacific (APAC). North America and Europe emerge as the largest markets for freezer bags while Latin America, Middle East & Africa and Asia Pacific region are projected to grow at a rapid pace during the forecast years.
Some of the major players operating in the global freezer bags market have been profiled in the report, including S. C. Johnson & Son, Inc., International Plastics, Inc., Reynolds Consumer Products LLC, Weston Brands LLC, Star Poly Bag, Inc., The Glad Products Company, Rutan Poly Industries, Inc., Inteplast Group, US Poly Pack, Elevate Packaging, Inc., Uline, Inc., Abbey Polythene Ltd., Universal Plastic Bag Manufacturing Co., Falcon Pack Industry LLC, Maxpak Australasia Pty. Ltd., Polybags Limited, WeiFang ChangLe Shuguang Industry Co., Ltd., Xiamen Huli Fengyi Industry Co.,Ltd., Great American Packaging, Inc., and Convex Innovative Packaging.
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Increasing Demand from End use Packaging Sector will Add Impetus to Freezer Bags Market
The rising demand from the food and beverage sector is expected to bolster growth of the global freezer bags market in the years to come. The global freezer bags are described by the developing interest of cooler packs inferable from their wide-spread utilization in food, drug and different enterprises. The customer request is likewise ascending because of the developing extra cash around the world. The market is additionally set apart with the progression in the assembling innovation. Food area will supposedly stay the dominating end-use industry creating the most extreme interest for cooler sacks.
The key manufacturers of the freezer bags market have made the market profoundly serious for the more modest and arising players to support on the lookout, the private name brands of cooler packs are likewise encountering extensive development. Advancing business sector for cross country corporate store has made adequate chances for the cooler sacks market players. As far as happenstance made by the topographical locales, North America’s cooler packs market is relied upon to make a large number of chances during the estimate time frame, attributable to raising interest for cooler sacks from the food area in this district.
Key market qualities present in the worldwide market for cooler packs incorporate popularity for private name brands and different development exercises made by vital participants of cooler sacks market. The interest for cooler packs from areas other than food is additionally rising. In addition, developing interest for cooler sacks has likewise been perceived by different cooler pack producing firms across the globe. Makers of cooler packs are zeroing in on growing their creation limit either by adding apparatus to the assembling office or by securing the arising little and provincial cooler sacks organizations.
The pattern among cooler packs fabricating firms to extend their creation ability to fulfill the expanding need of cooler sacks has fuelled the cooler packs market. Notwithstanding that, the development in retail locations around the planet is required to additionally move the market development. Additionally, appealing and useful bundling of cooler packs, particularly for food area has likewise determined the market notwithstanding the predominant obstruction attributes such cooler sacks display.
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