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Boil-in Bags Market Growth, Trends and Forecast 2018 - 2026 | CAGR of 6%
|Increasing Number of Single-person Households Worldwide to Act as a Major Driver to Global Boil-in Bags Market Growth|
According to the latest market report published by Transparency Market Research titled “Boil-in bags Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018–2026,” plastic segment is anticipated to be the highest contributor to the global boil-in bags market, during the forecast period, 2018-2026. Globally, the plastic material type segment has been estimated to be over US$ 240 Mn in 2017, and is projected to increase at a CAGR of 6% during the forecast period 2018-2026.
The global boil-in bags market has witnessed extraordinary growth during the past decade, owing to the changing consumer lifestyle due to which consumer preferences are shifting from traditional meals to ready-to-eat meals. This factor will continue to boost the demand for boil-in bags during the forecast period 2018-2026. Global boil-in bags market is segmented by material type (plastic, aluminium foil and others), by appearance (transparent, opaque and printed), by packaging size (less than 150X240 mm, 150X240 to 240X380 mm, 240X380 to 380X500 mm, more than 380X500 mm) by sales type (institutional sales and retail sales), by application ( frozen foods, ready to eat meals, rice and cereals, bakery and confectionery and others), and by region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
Among material types, plastic segment is the most attractive product segment due to which it accounted for approximately 76.9% value share in 2017. This segment is anticipated to expand at the highest CAGR of 6.0% by value over the assessment period. By appearance, the transparent segment is foreseen to expand at the most lucrative CAGR of 6.1% during the forecast period, in addition to exhibit a significant incremental opportunity of US$ 187.5 Mn through to 2026.
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In packaging size, 150X240 to 240X380 mm segment is the most attractive product segment due to which it expands at a highest CAGR of 6.9%, by value among all the packaging size. 240X380 to 380X500 segment is anticipated to hold a market share of 44.5% value share, by 2017. Among sales type segments, the retail sales segment is the fastest growing segment among all the boil-in bags sales type segments. Institutional sales segment is anticipated to dominate the global boil-in bags market. Institutional sales segment is expected to create an incremental $ opportunity of US$ 124.9 Mn, during forecast period.
Among application segments, frozen foods segment is anticipated to dominate the global boil-in bags market. Frozen foods segment is expected to create an incremental $ opportunity of US$ 115.2 Mn, during forecast period. Geographically, the global market has been segmented into five regions, i.e. North America, Latin America, Europe, Asia Pacific region (APAC), and Middle East & Africa (MEA). North America dominates boil-in bags market globally. Due to a growing number of single-person households all over the world, the preference for boil-in bag meals are increasing gradually. It helps the individual to cook their food fast allowing each person to eat their desired taste preferences. The aforementioned factors have made North America, a dominating boil-in bags market worldwide. The Asia Pacific boil-in bags market is anticipated to expand at a lucrative CAGR of 8.4% during 2018-2026. In APAC boil-in bags market, India and China are the major contributors.
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Key players in the global boil-in bags market include: ProAmpac LLC, Universal Plastic Bag Co., UltraSource LLC, Granitol A.S., M & Q Packaging Ltd, Packit Gourmet, US Poly Pack, Synpac Limted, Shenyang Dongya Composite Packaging & Color printing factory, Shenzhen Ken Hung Hing Plastic Products Co., Ltd., Shenzhen Dingqi Pack Co., Limited, Dongguan Ever-Glory Plastics Package Limited among others. The report analyses the key drivers and restraints, as well as the boil-in bags market trends, and performs impact analysis based on the average weighted model. Globally, the boil-in bags market has been segmented on the basis of material type, appearance, packaging size, sales type, application and region. The segmentation is as follows:
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