The scope of our recent study on the "PVDC Shrink Bags Market 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)" includes the factors fuelling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.
The PVDC shrink bags market was valued at US$ 1,088.39 million in 2021 and is projected to reach US$ 1,383.37 million by 2028; it is expected to grow at a CAGR of 3.5% from 2021 to 2028. One of the main factors driving the PVDC shrink bags market is the increasing consumption of meat, poultry, and seafood products. Moreover, the rapid expansion of the online retail sector across various countries worldwide is fuelling the demand for different packaging products, including PVDC shrink bags, which presents potential growth opportunities for the market. Nevertheless, the negative impact of PVDC on the environment is anticipated to hinder the growth of the PVDC shrink bags market in the forecast period.
Based on bag type, the global PVDC shrink bags market is divided 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. Shrink bags with round bottom seals are suitable for fresh meat, sausage meat, and export purposes.
The global PVDC shrink bags market is segmented into five main regions-North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America. Asia Pacific held the largest revenue share of the global PVDC shrink bags market in 2020. It is one of the important markets for PVDC shrink bags. The rapidly increasing consumption of chicken meat in countries such as China, Japan, Australia, and Thailand is expected to create lucrative growth opportunities for the Asia Pacific PVDC shrink bags market during the forecast period.
Impact of COVID-19 Pandemic on PVDC Shrink Bags Market
The COVID-19 pandemic has had a significant impact on economies worldwide. The surge in COVID-19 cases and subsequent lockdowns of manufacturing facilities have adversely affected several markets. This disruption has caused a decline in demand for PVDC shrink bags in various applications. However, the pandemic has led to an increase in meat sales in several countries, resulting in a growing need for various meat packaging products. Moreover, many industries have managed to overcome the challenges associated with the supply chain of raw materials, leading to an upswing in demand for various food packaging products. As a result, the market for these products is expected to experience growth.
The report includes the segmentation of the global PVDC shrink bags market as follows:
Based on bag type, the global PVDC shrink bags market is divided into round bottom seal, straight bottom seal, and side seal. In terms of application, the PVDC shrink bags market is divided into meat, poultry & seafood, cheese & other dairy products, and others. By geography, the PVDC shrink bags market is categorized into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America. North America includes countries like the US, Canada, and Mexico. Europe includes Germany, France, the UK, Italy, Russia, and the Rest of Europe. Asia Pacific includes China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The Middle East & Africa (MEA) includes South Africa, Saudi Arabia, the UAE, and the Rest of MEA. South and Central America includes Brazil, Argentina, and the Rest of South and Central America.
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