A recently published Fact.MR report provides forecast & analysis of the cook in bags market. It provides historical data of 2013 along with estimated data for 2018, and forecast data up to 2028 in terms of revenue (US$ Mn) as well as volume (Thousand Units). The report also incorporates macroeconomic indicators, coupled with an outlook on cook in bags for the global market. It includes growth drivers and restraints of the cook in bags market and impact of these aspects on the regional segments during the forecast period.
This report also engulfs the study on current issues concerning consumers and opportunities for cook in bags products. It also comprises value chain analysis. In order to provide readers of the report with an all-inclusive view of the market, detailed competitiveness analysis on key market players, and their strategic overview has been included in the report. The dashboard exerts a detailed comparison of cook in bags manufacturers on parameters that include product offerings, total revenue, and key strategy.
Growing Preference for Ready-to-eat Meals to Drive Demand for Cook-in-Bags
Ready-to-eat meals have significantly gained momentum in tandem with fast changing consumer lifestyle. This has further spurred convenient consumption solutions, and cook-in-bags are no exception. Time-intensive commute, and long hours of work have left consumers with less time for cooking meals, and their incessant search for easily accessible and simple cooking solutions have augured well for sales and development of cook-in-bags. The fundamental requirement of preserving shelf-life, quality, texture, and taste of food products packed in cook-in-bags, has further led prominent vendors to focus more on new design developments to realize effective preservation of the product’s characteristics.
Institutional Sales of Cook-in-bags to Remain Lucrative, while Growth in Retail Sales will Present Comparatively Faster Pace
High temperature cook-in-bags are fast gaining traction in institutional platforms, where pre-cooked or marinated raw meats are packed in these bags. Quick adaptation to higher temperatures of cook-in-bags, which reduces the meal preparation time, and offers high quality food has further augured well for institutional sales of cook-in-bags. In terms of revenues, preeminence of institutional cook-in-bag sales is poised to prevail, however, retail sales are foreseen to record a relatively faster growth through 2028. Faster growth of retail cook-in-bag sales can be primarily attributed to the absence of dioxin and bisphenol-A (BPA), and imperative features such as vacuum seals.
Gradual Surge in Single-person Households Worldwide – a Key Demand Influencer for Cook-in-bags
Recent changes in institutional arrangements, labor migration, and demographic behaviors have consequently led to a surge in number of single-person households worldwide, which in turn has crafted profound avenues for several business, with food packaging products, such as cook-in-bags, being one of the key areas. Cook-in-bag meals are becoming increasingly popular among this chunk of population, as they facilitate individuals in faster meal preparation along with desired taste preferences.
Value-based Dominance of Plastic as Raw Material will Persist, Despite Declining Preference among Manufacturers owing to Environmental Concerns
The report envisages plastic to remain sought-after among materials used for manufacturing cook-in-bags, mainly owing to its cost-effectiveness and convenient processing technologies. Plastic-based cook-in-bags are poised to hold over three-fourth market revenue share during the period of forecast. A slight decline in the revenue share has been estimated for plastic-based cook-in-bags during 2018 to 2028. This can be attributed to government norms that limit boiling time of cook-in-bags to 20 minutes, as further heating or boiling will result in melting of polyethylene and plastic residue in food products. Additionally environmental concerns regarding plastic will further remain a key demand deterrent for these cook-in-bag variants.
Other imperative materials, such as aluminum foil, and sub-segments of plastic including polyethylene and polyesters, have also been studied in detail.
The report has profiled key players, who are significantly contributing to growth of the cook-in-bags market, which include Synpac Limited, Packit Gourmet, M&Q packaging ltd, Granitol A.S., UltraSource LLC, and ProAmpac LLC. These players are resorting to new product development strategies for bolstering their position in the cook-in-bags market, which in turn has resulted in the proliferation of eye-catching cook-in-bag variants with better functionalities.