PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1628902
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1628902
Freezer Bags Market size was valued at USD 5,142.5 Million in 2023, expanding at a CAGR of 4.00% from 2024 to 2032.
The packaging options used to keep processed foods and fresh vegetables in storage are freezer bags. It is obvious from the name that freezer bags are plastic bags used to store goods in the freezer, including food and medications. The purpose of these freezer bags is to keep air out of the stored goods by sealing them tightly. The market value is growing due to rising urbanization, modernity, and globalization, as well as rising consumption of a variety of frozen foods. The market value will rise as a result of rising pharmaceutical sales as well as growing consumer interest in meat and meat-related items. However, the market's development rate will be hampered by growing environmental concerns and strict government rules around the use of plastic.
Freezer Bags Market- Market Dynamics
Increased Consumer Demand for Reusable and Eco-Friendly Bags Will Fuel Market Growth
The market for freezer bags is seeing notable trends that are fueled by consumer demands for innovation, sustainability, and convenience. Reusable and environmentally friendly freezer bags are becoming more and more popular. A growing number of consumers are choosing items that minimize single-use plastic trash as environmental concerns gain popularity. In response, producers are starting to produce freezer bags using eco-friendly materials like silicone or biodegradable polymers. The growing acceptance of vacuum-sealed freezer bags is another notable trend. These bags reduce freezer burn and eliminate air, extending food's shelf life. Because consumers value the preservation benefits, vacuum-sealing technology is increasingly being used in freezer bag designs. With the advent of features like temperature-sensitive indicators, separate compartments, and simple zipper sealing, innovation is also influencing the industry. By addressing certain demands and improving the overall user experience, these developments help to diversify the market's product offers.
Freezer Bags Market- Key Insights
As per the analysis shared by our research analyst, the global Freezer Bags Market is estimated to grow annually at a CAGR of around 4.00% over the forecast period (2024-2032)
Based on material segmentation, the HDPE (high-density polyethylene) category was predicted to show maximum market share in the year 2023
Based on product type segmentation, the food was the leading segment in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Freezer Bags Market is segmented on the basis of Material, Application, Product Type, and Region.
Based on the material, the market is segmented into LDPE (Low-density Polyethylene), MDPE (Medium-density Polyethylene), and HDPE (High-density Polyethylene). Throughout the forecast period, the HDPE (high-density polyethylene) segment is expected to have the greatest share of the worldwide freezer bag market. High-density polyethylene possesses remarkable strength and durability because of its high molecular density. Because HDPE (high-density polyethylene) freezer bags are difficult to tear or puncture, they provide a reliable barrier against air and moisture. As a result, a variety of frozen foods can be stored in them without experiencing freezer burn, and their quality will be maintained over time.
On the basis of product type, the market is segmented into Pharmaceuticals, Food (Frozen Specialties, Meat, Poultry and Seafood, Baked Foods, Confectionary, Snacks, Other Food Products), Stationery, Medical Devices, and Others. Throughout the forecast period, the food segment of the global freezer bag market is anticipated to develop at the fastest rate. This is due to the fact that using freezer bags can prolong the freshness of the food. Among the foods that can be preserved in freezer bags are meats, fruits, and vegetables. In addition to these three categories, this also includes prepared foods like snacks and dinners, as well as seafood and poultry.
Freezer Bags Market- Geographical Insights
Geographically, the Freezer Bags Market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
In 2023, North America led the global freezer bag market. The increasing popularity of frozen and ready-to-eat meals and the growing demand for useful and efficient food storage solutions have both contributed to the market's expansion. The market's growth in this region is largely due to the United States and Canada. Consumers are increasingly seeking convenience and long-term food freshness preservation in their purchases. Due to people's hectic schedules and growing need for meals that can be consumed on the go, there is a greater demand for freezer bags.
Throughout the forecast period, Asia Pacific is anticipated to develop at the quickest rate in the worldwide freezer bag market. It is anticipated that growing economies like Japan, China, and India will drive the growth of the regional freezer bag market. Heavy-duty freezer bags look to be in high demand, especially given the increase in the volume of perishable commodity trade in a number of regional nations. Additionally, the presence of multiple pharmaceutical countries increases the need for freezer bags with readable labels in countries like China and India.
Prominent industry participants such as International Plastics, Inc., Weifang ChangL, S. C. Johnson & Son, Inc., Abbey Polythene Ltd., Reynolds Consumer Products LLC, and others have demonstrated adaptability and resiliency in the face of stringent regulations and limitations on the varieties of plastic freezer bags. They are focusing more on innovation and investigating materials and alternatives to freezer bags that comply with regulations and take the environment into account. By taking advantage of fresh opportunities for market growth through innovation and design for travel or camping freezer bags, established layers are also maintaining their market dominance. To provide novel solutions and maintain their market leadership, leading companies have raised their investments in R&D. For instance, in February 2023, ProActive Recyclable R-2050, a polyethylene-based structure that offers high-speed filling line efficiency and comes in standard and high-barrier versions, was introduced by ProAmpac as a sustainable substitute for traditional multi-material laminates in the European market to preserve or prolong the shelf life of food products.
June 2023: OneEarth Packaging solutions were introduced by Great American Packaging, a top producer of bespoke packaging, in response to consumer requests for a more sustainable and healthful future. This packaging is devoid of PFAS, which are chemical additives that can be hazardous to both human health and the environment and are present in many consumer goods. There are recyclable and compostable choices for the new packaging.
May 2023: A highly sustainable new packaging pouch for frozen prawns was developed and implemented by Sabic, a renowned industrial packaging company; Coldwater Prawns of Norway, a major exporter of Coldwater prawns from deep arctic waters; and Estiko Packaging Solutions, a global supplier of packaging solutions. The multilayer film used to make the pouch was created by Estiko Packaging Solutions utilizing a circularly certified random polymer grade of Sabic PP (polypropylene) Qrystal, which has about 60% ocean-bound plastic content.