May 20, 2024
Hermetic Storage Bags Market

Hermetic Storage Bags Market is Estimated to Witness High Growth Owing to Increasing Demand from Food Industry

The Hermetic Storage Bags market has witnessed significant growth over the past few years owing to the increasing demand from the food industry. Hermetic Storage Bags help prevent oxygen from entering and carbon dioxide from leaving, thus helping extend the shelf life of food products. The bags provide an effective barrier against moisture, oxygen, pests, and other environmental contaminants. They are made using materials such as plastic, polymer, and multilayer film which help maintain the freshness and quality of food items. The increasing awareness about food wastage and the role of efficient packaging solutions in reducing it is propelling the adoption of Hermetic Storage Bags across the world.

The Global Hermetic Storage Bags market is estimated to be valued at US$ 1.24 Bn in 2024 and is expected to exhibit a CAGR of 17.% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Hermetic Storage Bags market are SIGA Technologies Inc., Chimerix, Inc., Bavarian Nordic, Sanofi SA., Emcure Pharma, Jinan Jinda Pharmaceutical Chemistry Co., Ltd.

Hermetic Storage Bags Market Demand is expected to witness lucrative growth opportunities owing to the increasing consumer preference for hygienic and long shelf-life food products. The bags help meet the growing demand for transparent and tamper-proof packaging from end-users.

The market is also witnessing high expansion in the Asia Pacific region owing to the improving food safety standards and rapid industrialization in countries such as India and China. Countries in South America and Middle East are also expected to offer attractive opportunities for hermetic storage bag manufacturers during the forecast period.

Market drivers

The major driver for the growth of the Hermetic Storage Bags market is the rising demand from the food industry. Hermetic Storage Bags significantly help boost the shelf life of various food items compared to traditional storage methods. They help retain food quality and freshness for long durations. The bags prevent the growth of microorganisms inside and maintain a modified atmosphere. This factor has boosted their adoption across bakery, diary, meat and other food segments. The ability of Hermetic Storage Bags to reduce food wastage substantially is another key aspect driving their increased demand at the global level.
Political: Regulations around material usage and manufacturing standards impact manufacturers. Environmental rules also affect packaging and disposal methods.

Economic: The general economy and income levels impact consumer demand. Rising incomes boost demand for protective and high-quality storage. Prices of raw materials affect manufacturers’ costs and budgets.

Social: Growing awareness of food storage best practices and shelf life extension techniques spur adoption. People increasingly seek hygienic and tamper-proof food and drug packaging solutions.

Technological: New materials and bag designs help improve barrier properties. Advanced manufacturing aids high-volume and affordable mass production. Integrating smart labels and sensors allows monitoring stored contents.

The North American market accounts for over 35% share in terms of value. High living standards and consumer buying power sustain demand. The Asia Pacific region is the fastest growing market rising at nearly 20% CAGR. Rapid economic development, rising incomes, and population growth drive gains across developing nations like China and India.

Latin America shows strong potential fueled by widespread agriculture and expanding pharmaceutical industries. Regions like Eastern Europe witness healthy growth on the back of improving economies. The Middle East too presents lucrative prospects through its diversifying non-oil industries. Africa exhibits untapped opportunities considering its growing youth population and rising urbanization.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it