The Hermetic Storage Bags Market is estimated to be valued at Us$ 1.07 Billion in 2023 and is expected to exhibit a CAGR Of 6.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Hermetic storage bags are specially designed packaging bags used to store dry food items, preserves, and other products to maintain freshness for a longer period of time without refrigeration. They protect stored contents from oxygen, moisture, and other external elements using advanced multilayer film and automated vacuum sealing technology. Their impermeability renders no reentry of oxygen or release of moisture and carbon dioxide, thereby significantly extending the shelf life of products stored in them. Some common applications of hermetic storage bags include storage of dried fruits, nuts, coffee, pet food, seeds, spices, grains, and more.
Market Dynamics:
Rising demand for extended shelf life packaging from food industries and individuals is a key driver fueling the hermetic storage bags market growth. Conventional storage methods require refrigeration to prevent spoilage which incurs additional costs and energy usage. Hermetic storage bags enable preservation of freshness and nutrients at room temperature for 6-12 months or more compared to only 2-3 weeks without packaging. This benefits businesses through reduced product wastage and labor costs. Additionally, busy consumer lifestyles have increased the demand for easy to store ready-to-eat food items with long shelf stability without refrigeration. The second driver is growing popularity of sustainable packaging solutions. Hermetic storage bags are recyclable, reusable, and manufactured using multilayer film technology requiring minimal raw material. Their impermeability eliminates need for preservatives further adding to their eco-friendly appeal.
SWOT Analysis
Strength: Hermetic Storage Bags provides long shelf-life for stored products which reduces food waste. Their airtight and moisture proof nature helps in retaining the freshness and nutritional value of foods for longer duration. Their lightweight and flexible nature allows for easy transportation and storage.
Weakness: Hermetic Storage Bags are single use products and not reusable which increases plastic waste. Their sealing mechanism requires careful handling and pressing to achieve proper seal which can be difficult for some users.
Opportunity: Rising health concerns and focus on consuming fresh foods will drive the demand for hermetic storage bags. Increased overseas trade of agricultural commodities also provides an opportunity for growth of this market.
Threats: Implementation of stringent regulations around usage of plastics poses a major threat to this market. Volatility in raw material prices can impact the production cost of hermetic storage bags.
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 demand for longer shelf-life of food products. Population growth and changing consumer lifestyle which emphasizes on consumption of fresh foods on daily basis are the major drivers boosting the market.
Regional analysis:
North America dominates the global hermetic storage bags market with largest market share owing to rise in packaged food consumption and well-established retail network in the region. Asia Pacific exhibits highest growth rate due to large population, rise in disposable income, and increasing foreign direct investments in food processing industry across major countries like China and India.
Key players:
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, Integra Packaging. The market is consolidated in nature with top players accounting for majority share. Key players are investing in expanding their product portfolio and setting up manufacturing facilities across developing regions to leverage growth opportunities.
