Boil-in-bag Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2227
Global Boil-in-bag Market size is likely to expand at a prominent CAGR in the forecast period. Boil-in-bag is a modern packaging format used for food items which can be directly cooked/heated in boiling water.
Positive growth indicators in the frozen food industry is likely to be a major factor contributing towards boil-in-bag market size in the coming years. Changing consumer lifestyle patterns mostly in urban setup is primarily fueling the product demand across the globe. Demanding life schedule, lesser time for proper meal intakes and progress in corporate sector is significantly changing the food habits of consumers globally. Henceforth, there is rising preference to-eat food products that aids in saving time. These factors are considerably accelerating demand for frozen, packaged and ready-to-eat food products, which in turn, is likely to propel product demand and boost boil-in-bag market size in the near future.
Rising awareness among consumers regarding use of environment friendly products may hinder global boil-in-bag market growth in the coming years due to the non-biodegradable nature of plastic and polyethylene boil-in-bags.
Based on the product type, the boil-in-bag market size is divided into paper, polyesters, polyethylene (PE), biodegradable plastic, aluminum foil and others which include ethyl vinyl acetate, fabric, etc. PE contributed a major chunk of the overall boil-in-bag market size in 2016 due to its easy availability and temperature resistance properties. Moreover, lesser water requirement in the product, makes it convenient and time saving for consumers which will subsequently augment the product demand and thus, will boost boil-in-bag market size by 2024.
Based on food type, the boil-in-bag market is segmented into frozen food, meat & poultry, sea food, ready to eat meals, fresh produce (vegetables) and others which include cereals, confectionary & bakery products, etc. The frozen food segment led the overall boil-in-bag market size in 2016. The frozen food products demand is primarily driven by consumers need for prepared and ready-to-eat food owing to time constraints which is likely to propel demand for packaged food including cereals, breakfast food items, meat & eggs and sea food. Rise in demand for any of the aforementioned products will directly boost the product demand as it is a convenient & user-friendly alternative to traditional packaging options which in turn will make prominent contribution to boil-in-bag market size by 2024.
North America attain a large portion of the overall boil-in-bag market size in 2016 owing to rising preference and demand for packaged & frozen foods by consumers in the region. Similarly, Europe and Latin America showed exponential growth prospects for boil-in-bag market size due to the developed food & beverage industry.
Asia Pacific boil-in-bag market size is anticipated to be the fastest growing region over the forecast period. This can be attributed to the rising socio-economic factors along with adoption of western culture of packaged foods by Asia Pacific consumers. The amplified spending pattern of people in countries mainly China, India, South Korea, Malaysia, Sri Lanka and Thailand are likely to fuel the boil-in-bag market growth over the forecast duration. Middle East & Africa shall witness moderate growth in the coming years due to sluggish growth of food & beverage industry in the region.
The prominent boil-in-bag market players functional in the industry are Ampac Holdings LLC, Granitol, Mars Incorporated, PACKIT GOURMET LLC and Morrisons. Other companies include Riviana Foods Inc., M & Q Packaging and Flexipol Packaging Limited.
The key market players are emphasizing on partnerships, agreements with local companies to expand their product portfolio and to penetrate their offerings to countries including Thailand, Indonesia, Malaysia in Asia Pacific and Brazil & Mexico in Latin America. In addition, the major market share contributors are continuously investing in R&D to push product innovation to next level. This aids in keeping up with demands of existing customers and attract new customers. Moreover, many packaged and frozen foods manufacturing companies are increasingly launching their products in new boil-in-bag packaging format to grab attention of consumers. For instance, Riviana Foods Inc. launched boil-in-bag quinoa in March 2017 to offer home cooks a convenient shortcut. This was an attempt to promote products understanding, consumer taste and preference for modern food products.
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