Vision Research Reports predicts the global PVDC shrink bags market is expected to grow at a 3.1% CAGR over the course of the forecast period 2021 to 2028.
PVDC shrink bags market will be driven by the rising demand for flexible packaging solutions. 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.
PVDC shrink bags sales surged in response to the increasing demand for flexible and uniform packaging solution. These bags are resistant to puncture and have excellent luster. They are lightweight and considered extremely convenient to offer packaging solutions in the food sector.
These bags are predominantly used for packing fresh and processed meat and seafood items. While shrink bags find exceptional usability in shipping and logistics industry, the food sector is expected to account for maximum share in the market for PVDC shrink bags.
Rising Demand for Improved Shelf-life Spurring Growth Prospects
PVDC shrink bags are manufactured to offer strong seal performance. It therefore is expected from them to address myriad p0ackaging needs while exhibiting excellent sealing functionality. These bags are also found useful in ensuring longer shelf life of any food products.
The demand for shrink bags is likely to surge in the coming years. A small increase in shelf life, especially in meat, poultry, and sea food products is valued by consumers. It is also a valued proposition for industry participants creating opportunities for them to strengthen their footprint in the market.
PVDC shrink bags’ ability to improve shelf life of food products, coupled with their excellent properties as barrier to moisture and oxygen, is the primary reason behind their widespread application in the food sector.
With the increasing penetration of giant retail chains in developed and high potential markets alike, the demand for packaged foods is likely to accelerate. Against this backdrop, shrink bag manufacturers see incredible scope for expansion in the near future.
Manufacturers Focusing on Design Innovation to Offer Better Customization
The demand for PVDC shrink bags is rising, however, not at a pace expected. It has therefore led market players to focus on innovative product designs. There is greater focus on incorporating innovative features such as high puncture resistance, impressive barrier properties, and greater luster to continue gaining traction through the course of the forecast period.
A case in point in Schur Flexibles Holding GesmbH’s PVDC shrink bags that bring to the table impressive puncture resistance, excellent, transparency, high barrier properties, and flexo printing options.
Meanwhile, Sealed Air Corporation has designed shrink bags meant for meat packaging with features such as excellent brightness, gloss, and transparency, and multi-barrier structure to prevent microbiological growth.
These innovations are intended to help food industry cater to the demand for contamination-free food to end users. Innovations are seen as key strategic moves by market players and are expected to help the global market gain impetus in the coming years.
Rising Availability of Eco-friendly Alternatives Poses Threat
Despite its application in the food sector, the market sees the availability of alternative packaging solutions and materials as potential threats. Companies in the food sector in developed as well as high potential markets are eager to switch to technological advancements.
They are putting constant effort towards design innovations to manufacture eco-friendly, recyclable, and flexible packaging solutions. Flexible packaging solutions made from PVDC materials might have long-term impact on the environment.
The rising awareness regarding the same is making manufacturers uneasy. Consequently, prominent companies within the market are shifting to alternative materials such as ethylene vinyl alcohol (EVOH) and others to offer superior barrier qualities and better recyclability.
For instance, WINPAK LTD’s DuraShrink are eco-friendly barrier shrink bags. The availability of similar alternatives is increasing steadily, posing threat to the PVDC shrink bag producers.
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.
Despite prevailing consolidation, competition is expected to get fiercer among the key market players. Besides the presence of a few well established companies, the market is characterized by the presence of several local players and start-ups.
TMR profiles some of the key players operating in the market. These include Amcor Plc, Sealed Air Corporation, Schur Flexibles Holding GesmbH, ALLFO Vakuumverpackungen, Green Packaging Material (Jiangyin) Co.,Ltd, Sunrise Packaging Material (Jiangyin) Co., Ltd, Hanxhosa (Suzhou) Limited Company, Astar Packaging Pte Ltd, Shuanghui Group among others.
In order to study the extent of competition between companies, VRR categorizes them in Tier 1, Tier 2, and Tier 3. It also conducts SWOT analysis to study the strengths and weaknesses of the market players and uncover hidden opportunities.
The report also offers insights into prospects for the market during and post COVID-19 outbreak.
By Product Type
The PVDC shrink bags market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of PVDC shrink bags market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global PVDC shrink bags market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the PVDC shrink bags market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted PVDC shrink bags market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the PVDC shrink bags capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of PVDC shrink bags by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global PVDC shrink bags market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major PVDC shrink bags market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of PVDC shrink bags market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the PVDC shrink bags industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
PVDC shrink bags market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to PVDC shrink bags market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of PVDC shrink bags market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new PVDC shrink bags market. These factors have benefited the growth of the global market for PVDC shrink bags. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for PVDC shrink bags. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of PVDC shrink bags are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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