PVDC Shrink Bags Market (Product Type – Round Bottom Sealed, Straight Bottom Sealed, Side Sealed; Application – Fresh Meat, Processed Meat, Poultry & Seafood) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2028
PVDC shrink bags market will be driven by the rising demand for flexible packaging solutions. In a recent study, Transparency Market Research (TMR) has forecast the market to record a moderate 2.9% CAGR between 2020 and 2028.
Through the course of the forecast period, the market is expected to record slow yet upward trend with growth driven by diverse applications of shrink bags. Their extensive use in packaging of food items including fruits, vegetables, meat, seafood, and other items is one of the chief drivers of the global market.
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See-through Packaging Solutions to Remain Highly Sought-after
The demand for see-through packaging is forecast to remain high, as it is often considered an indication of the quality of products. Many producers even believe that transparent packaging increases the chances of a consumer buying a product in comparison to those with opaque packaging.
See-through or transparency packaging has been witnessing high demand in the food sector. This kind of packaging is often sought-after because it provides a visually pleasing appearance, enhancing the shelf-visibility of any product. The method is therefore considered highly suitable for the food sector, where product differentiation is a key focus.
It is possible to achieve transparent surfaces by using PVDC shrink bags. These bags offer superior quality transparency and better shine. Investing in shrink bags also relieves manufacturers from incurring extract expenditure on food labelling and decorating the packages to enhance their visual appeal.
The demand for transparent shrink bags is visibly higher in developed countries, especially those located in Europe and North America. However, the market is gradually making inroads in high potential pockets of Asia Pacific and the Middle East and Africa. These factors are reinforcing potential growth of the market for shrink bags in the coming years.
Traditionally, rigid packaging solutions were more trusted by consumers because of their excellent barrier properties. Packaging materials including metal and glass were therefore considered more reliable irrespective of their shelf-life requirements.
Rigid packaging formats are however vulnerable to corrosion and breakage. As packaging evolved, an increasing number of manufacturers started incorporating advanced characteristics to make their packaging more flexible. There was higher focus on making packages more durable, flexible, and lightweight.
With improving research and development initiatives companies were able to innovate packaging solutions ensuring longer shelf-life and better convenient to users. PVDC shrink bags are therefore frequently used in the food industry to pack a multitude of food items such as seafood items, poultry, and processed meat.
The rising adoption of flexible packaging solutions is identified as one of the chief factors, contributing to growth witnessed in the market for PVDC packaging.
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Shrink Bags Offer High Visual Appeal
Some of the leading food brands are choosing flexible packaging solutions such as shrink bags to elevate their brand value and gain traction amid prevailing competition. PVDC shrink bags offer added features such as high barrier properties and puncture resistance.
Also, printing on shrink bags can help producers differentiate their products from the rest. This packaging improves the visual appeal of products, lures consumers, and provides them with better access to required information. The market is therefore expected to gain significant traction over the course of the forecast period.
Europe Emerges as a Lucrative Market, Yet Asia Pacific Forecast to Record Higher CAGR
Despite exhibiting lucrativeness, growth in Europe is likely to be stagnant for the market. Some of the leading players are expected to shift their focus towards high potential markets in Asia Pacific to gain competitive strength.
According to TMR, in the next ten years, Asia Pacific is likely to account for a lucrative share of the overall market share. The expansion of the food industry and rising manufacturing output will support the demand for improved packaging in Asian countries
COVID-19 Outbreak Leading to Slowdown
The market for PVDC shrink bags is primarily dominated by the food sector. As a result, the market players are expected the demand for straight bottom sealed, side sealed, and round bottom sealed shrink bags to accelerate in response to the increasing store meat, poultry, and seafood items sales.
However, post COVID-19 outbreak, experts have forecast the consumption of aforementioned food items to shrink considerably, which might adversely impact the market.
The pandemic unfolded unprecedented times for the food industry. As restaurants and food chains remained shuttered following complete or partial lockdown orders, sales within the industry took a nose dive. Shrink bag manufacturers too felt the heat, as one of their most lucrative pockets struggled to stay afloat amid the pandemic.
Discontinuation of production also caused supply chain disruption of PVDC shrink packs. However, with better planning and boost by regulatory authorities, the market is forecast to regain momentum at the beginning of 2021.
Demand for Contamination-free Packaging Propelling Growth
Recent events have rendered consumers more skeptical about products they buy. According to TMR, consumers prefer using shrink bags primarily because of their multi-layer structure that offers additional shield to food packaging.
Consumers are looking for better oxygen barrier and resistance against tearing. Barrier shrink bags with 50-70 Micron thickness offers both attributes, which has made them a highly sought-after packaging solution in the food sector.
Those made from polyethylene are expected to enjoy increasing demand especially due to their increasing use for packaging seafood, meat, poultry, and other food products.
Sustaining Revenue Growth is Imperative for Growth in Long Run
Companies operating in the market are currently focusing on sustaining the revenue flow. Thanks to unprecedented COVID-19 outbreak, their vulnerabilities to unforeseen threats are exposed. Most companies are therefore reevaluating their policies to better prepare themselves with contingency plans.
In order to regain momentum an increasing number of companies are eyeing emerging economies. Moreover, the overall packaging industry has been reporting a paradigm shift to exploring opportunities across untapped markets.
As a result of growing population, emerging nations are witnessing surging food demand, making them highly lucrative for PVDC shrink bag producers. The demand from high potential markets is expected to enable these companies gain competitive advantage in the near future.
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PVDC Shrink Bags Market: Competitive Overview
The market has a consolidated vendor landscape and lion’s share is held by a handful of established players. TMR’s report carefully studies prevailing competitive trends in the market based on expansion strategies adopted by the leading players.
It profiles companies such as The recent study of PVDC shrink bags market includes profiles of players such as
- Sealed Air Corporation
- ALLFO Vakuumverpackungen
- Schur Flexibles Holding GesmbH
- Amcor Plc
- Sunrise Packaging Material (Jiangyin) Co., Ltd
- Green Packaging Material (Jiangyin) Co.,Ltd
- Hanxhosa (Suzhou) Limited Company
- Astar Packaging Pte Ltd
- Shuanghui Group and others.
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