Worldwide Shrink Bags Market

- Mar 18, 2020-

Global Market Study on Shrink Bags: Electronics Application Segment to be Highly Attractive in the Coming Years Owing to Increasing Use of Shrink Bags in Packaging Electronic Components

Persistence Market Research has analyzed various facets of the shrink bags market from a global standpoint and has skilfully presented them in its new research publication titled "Shrink Bags Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)". The extensive shrink bags market research report covers various trends, opportunities, drivers and restraints influencing the growth of the global shrink bags market along with regional analysis, competitive scenario and forecasts. This analysis focuses on each segment and sub-segment of the global market based on which analysts have given their opinions regarding various market dynamics. This research report is more focused on presenting qualitative and quantitative inputs that can add value to a business.

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Global Shrink Bags Market: Forecast Highlights 

The global shrink bags market is expected to grow at a value CAGR of 5.3% during the period of assessment, 2017-2025. It is estimated to reach a value of more than US$ 5500 Mn by the end of the year of assessment (2025) from a value of around US$ 2900 Mn in 2017.

Global Shrink Bags Market: Key Segmental Analysis 

The global shrink bags market is segmented on the basis of barrier type, product type, material type, thickness, application and region.

  • By barrier type, high barrier segment is expected to lead the global market in terms of market value as well as growth rate

  • By product type, side sealed shrink bags are widely used in different applications. The side sealed segment is thus a lucrative one and is estimated to reach a value more than US$ 2 Bn and is projected to grow at a comparatively high CAGR during the forecast period

  • By material type, PE segment is poised to reflect high value and a significant growth rate. This segment is expected to dominate the global market in the coming years

  • By thickness, 50 to 70 micron segment is the most lucrative owing to increased preference. This segment is projected to grow at a high value CAGR of 5.8% throughout the period of assessment

  • By application, food and electronics segments are expected to largely contribute to the growth of the shrink bags market

  • By region, Asia Pacific is the most attractive with respect to adoption of shrink bags in several end uses, followed by Europe