Boil in Bags Market to Rise at a Prominent Pace, Rising Adoption from Instant Food Supplier to Boost Prospects
The competitive landscape of the global boil in bags market is fragmented with the presence of several players, says Transparency Market Research(TMR). Some of the key players profiled in the Boil-in Bags Market are Shenzhen Dingqi Pack Co. Limited, Shenzhen Ken Hung Hing Plastic Products Co. Ltd., and Synpac Limited.
These players are focusing towards the product innovation, use of biodegradable packaging items and business expansion to strengthen their foot hold in the boil in bags market.
As per a report by TMR, the global boil in bags market is projected to touch a valuation of US$ 187.5 mn by the end of 2026. The market is anticipated to rise at a CAGR of 6.1% during the forecast period. In the years 2017, the market analyst recorded opportunities in terms of volume in the global boil in bags market at US$ 240 mn in 2017.
On the basis of region, Asia pacific is projected to hold highest share of the boil in bags market during the forecast period. This is mainly due to the blooming instant food industry in the region. Further, presence of several key players in the region is another factor expected to take this region on the growth trajectory. Further based on material type, Polyethylene segment is likely to dominate the global boil in bags market over the forecast period. This is mainly due to the easy accessibility and temperature resistance properties of the product segments.
Need to Reduce Cooking Time to Offer Competitive Advantages
The global boil-in bags market is projected to experience a remarkable growth during the forecast period. This is mainly due to the flouring instant food market across the globe.
Factors like changing consumer food reference, growing working population of female employees, need to reduce cooking time are some of the prominent factors expected to drive the global boil in bags market in the coming few years.
However, factors like lower nutrition level in instant cook food, stringent FDA approval and rise in number of health conscious population is a major factor projected to bolster growth in the global boil in bags market in the coming few years. In addition to this, 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.