a method for vacuum shrink packaging a product is provided that includes the steps of placing the product in a heat shrinkable thermoplastic bag ; then shrinking the bag in a heated gaseous medium , while partially constricting the mouth of the bag to cause ballooning of the bag , further provided that the constricting is selected such that shrinkage of the bag overcomes the ballooning to collapse the bag onto the product ; and then placing the bag in a vacuum chamber followed by vacuumizing and in - chamber sealing , further provided that the rate of vacuumizing is limited to substantially prevent reballooning of the bag . associated apparatus for carrying out the method is also provided .