The PVDC shrink bags market in Asia Pacific is expected to grow from US$ 459.12 million in 2021 to US$ 597.83 million by 2028; it is estimated to grow at a CAGR of 3.8% from 2021 to 2028.
Online retail has been growing consistently. Various e-commerce trends are driving online retail. In Asia Pacific, many new online buyers were added in 2020. Moreover, the COVID-19 pandemic has transformed the way e-commerce functions. Many portals have experienced an incredible traffic boom. The e-commerce industry has witnessed impressive year-over-year growth. The pandemic has fast-tracked the growth of the e-commerce industry, with many consumers across the region have demonstrated a shift in buying patterns. The pandemic has helped to accelerate online purchases of meat products. Many people in India are preferring to buy meat online due to various services provided by online meat providers, such as the assurance of safety and hygiene, availability of multiple products under one umbrella, and doorstep services. Hence, the strong growth of the online retail sector in different countries across Asia Pacific is expected to create the demand for different packaging products, such as PVDC shrink bags, which would provide lucrative opportunities for the Asia Pacific PVDC shrink bags market in the coming years.
With the introduction of new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific PVDC shrink bags market at a substantial CAGR during the forecast period.
Asia Pacific PVDC Shrink Bags Market Revenue and Forecast to 2028 (US$ Million)
Asia Pacific PVDC Shrink Bags Market Segmentation
The Asia Pacific PVDC shrink bags market is segmented on the basis of bag type, application, and country. Based on bag type, the market is segmented into round bottom seal, straight bottom seal, and side seal. In 2020, the round bottom seal segment held the largest share of the market, and it is expected to register the highest CAGR during the forecast period. Based on application, the Asia Pacific PVDC shrink bags market is segmented into meat, poultry and seafood, cheese and other dairy products, and others. In 2020, the meat segment held the largest market share, and it is also expected to register the highest CAGR in the market during the forecast period. By country, the Asia Pacific PVDC shrink bags market is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC. In 2020, China held the largest market share. The same country is expected to register the highest CAGR during the forecast period
B The Dow Chemical Company; ALLFO GMBH AND CO. KG; ASTAR PACKAGING PTE LTD; Sealed Air; PREMIUMPACK GMBH; Sunrise Packaging Material (Jiangyin) Co., Ltd; and EEZYPAK are among the leading companies in the Asia Pacific PVDC shrink bags market.
Asia Pacific PVDC Shrink Bags Market Strategic Insights
Asia Pacific PVDC Shrink Bags Market Report Highlights
| Report Attribute | Details |
| Market size in 2021 | US$ 459.12 Million |
| Market Size by 2028 | US$ 597.83 Million |
| CAGR (2021 - 2028) | 3.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Bag Type
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Regions and Countries Covered
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| Asia-Pacific | China, India, Japan, Australia, Rest of Asia-Pacific |
| Market leaders and key company profiles |
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Asia Pacific PVDC Shrink Bags Market Country and Regional Insights
