by The Hermetic Storage Bags Market Is estimated to be valued at Us$ 1.07 Bn or in 2023 and is expected to exhibit a CAGR Of 6.7% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Hermetic storage bags are the lightweight plastic bags with tight sealing capabilities used for storing grains, nuts, seeds and other dry food items to provide long term protection against moisture, oxygen, insects and microorganisms. These bags allow cost effective preservation of food quality and safety for several months at room temperature without requiring refrigeration. They are commercially used for storing commodities by farmers, food producers and distributors.
Market Dynamics:
Increasing preference for long shelf-life packaging for dry foods is a key driver for the hermetic storage bags market growth. With busy lifestyles, consumers are increasingly opting for easy to store and use packaging solutions that can preserve the freshness and quality of packaged dry foods for extended periods without refrigeration. Additionally, the bags enable cost effective preservation of dry foods for months over traditional storage methods like cloth bags, jars that provide limited protection against external factors like moisture and oxygen. This augments the demand for hermetic storage bags especially in developing regions with challenging supply chain infrastructure. Further, growing demand from farmers and food processing industry for affordable food-grade packaging for storage and transportation is also fueling the market expansion.
Segment Analysis
The hermetic storage bags market is broadly segmented into metallized packaging, nylon, polyester, ethylene vinyl alcohol (EVOH), polyvinylidene chloride (PVDC), aluminum foil, and others. Among these, metallized packaging segment dominates the market and accounted for over 30% of the global market share in 2022. This is because metallized bags provide effective barrier against moisture and gases leakage while also being lightweight.
PEST Analysis
Political: There are no significant political issues affecting the hermetic storage bags market currently. However, stringent regulations regarding the use of plastics and polymer films in some regions can affect market dynamics.
Economic: The global economic growth has positively impacted the hermetic storage bags market. Rising incomes and improving standards of living in developing nations have fueled the demand. Moreover, requirement of efficient packaging solutions from various end-use industries is propelling the market.
Social: Growing awareness about food wastage and need for longer shelf-life of food products among consumers is a key social trend boosting the adoption of hermetic storage bags. These bags help reduce spoilage and optimize storage capacity.
Technological: Advances in metallization and polymer film engineering have enhanced barrier properties of storage bags. Integration of smart sensors for monitoring freshness is another emerging technological development.
Key Takeaways
The Global Hermetic Storage Bags Market Size is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing food wastage concerns globally. The market size for 2023 is US$ 1.07 Bn.
Regional analysis: Asia Pacific dominates the global market accounting for over 35% share. This is attributed to robust growth in food processing industry and rising exports from countries like India and China. North America ranks second in terms of market share led by US, whereas Europe is another major regional market.
Key players operating in the hermetic storage bags market are GrainPro Inc., PackFreshUSA, ShieldPro Flexible Packaging, SorbentSystems, IMPAK Corporation, Green Storage Ltd., LPS Industries LLC, Seal King Europe B.V., TPB Plastech Limited, and Integra Packaging. Major players are focusing on new product launches catering to various food segments to strengthen their presence.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
