Future Market Insights
Packaging products specifically addressed to consumer usage are inculcating convenience and high performance into their functioning. Oven bag is a high heat resistant bag made up of polyester or nylon meant for single usage. Oven bag is used for cooking of food in the microwave oven. Oven bags provide moisture retention utility to food cooked in microwave ovens which is a common issue faced by consumers using microwave ovens. Oven bag is extensively used in western countries primarily for its ability to keep the food moist even while cooking. Oven bag is preferred by the consumers as it saves the efforts for cleaning the microwave after cooking.
Oven Bag Market: Market Drivers & Opportunities
Flexible packaging is a rapidly growing segment in the packaging industry driving its growth through various innovations to fit for wide range of applications in packaging. The flexible packaging is estimated to be about US$ 230 billion and is expected to grow at a CAGR of 3% over the forecast period. The change in the consumer lifestyle in the APEJ region is the key factor for driving the demand for oven bag market. The increasing western culture influence and rapid urbanization the people are shifting from traditional method to modern method of cooking hence contributing to the growth of oven bag market. The increase in meat consumption in the Asian region is another factor supporting the demand for oven bag market. The safety offered by using microwave against the traditional cooking methods from burn injuries is an aspect influencing the growth of oven bag market. The fossil fuels like LPG are neither endless nor completely environment-friendly, so the increased use of electric oven can provide new opportunities for growth for oven bag market over the forecast period. Consumer has preference for the oven bag not only because it is cheap and easily available but also for the convenience that oven bag offer to their users and their property of preserving the flavor of the food
Oven Bag Market: Market Restraints
However, oven bag being a onetime use product is not a sustainable form of packaging which may hinder the growth of the oven bag market. The concern of the authorities over the increasing plastic waste may hamper the growth of the oven bag market. The misconception of food becoming radioactive after being prepared in a microwave can resist the growth of oven bag market. The complexity involved with the electric oven for which type of material to use inside the oven is another factor countering the growth of the oven bag market as markets in APEJ region are not aligned with the use of a microwave.
Oven Bag Market: Market Segmentation
Oven bag market is segmented by the type of material used and by the end use.
Based on the type of material used, Oven bag market is segmented into:
Based on the end use, Oven bag market is segmented into:
Oven Bag Market: Regional Outlook
Regionally global oven bag market is segmented into
North America is expected to lead the oven bag market owing to the extensive use of the oven and the cultural activities like roasting a turkey on thanks giving day. Eastern and Western Europe is also expected to hold a major portion of oven bag market attributed to the high consumption of the meat in the region. APEJ region can experience strong growth over the forecast period due to rapid urbanization and increasing urban influence in the region.
Oven Bag Market: Key Players:
Some key players of oven bag market are Flexipol Packaging Limited, Extra Packaging Corp, Sunkey Plastic Packaging Co., Ltd, Sirane Ltd, Terinex LTD, Yin Tian Industrial Co., Ltd, M&Q Packaging Ltd, Xiong Xian Xinhuarui Plastic Co Ltd, Huangshan Sinoflex Packaging Co. Ltd, Reynolds Consumer Products, Xiamen Threestone Packing Material Co. Ltd, and Sealed Air Corp.
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