The shrink plastic film market size will grow by USD 2.47 billion during 2019-2023. The market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.
This report provides a detailed analysis of the market by application (food and beverages; healthcare and pharmaceuticals; consumer goods; and others) and geography (APAC, Europe, MEA, North America, and South America). The report analyzes the market’s competitive landscape and offers information on several market vendors including Bemis Co. Inc., Berry Global Inc., Coveris GmbH, LyondellBasell Industries Holdings BV, and Sealed Air Corp.
Key Insights of the Shrink Plastic Films Market – Global Forecast 2019-2023
Browse the table of contents and list of exhibits with selected illustrations and example pages of the Shrink Plastic Films Market
Industry Overview
Polyolefin shrink plastic films are increasingly replacing PVC in packaging applications because of their high durability and versatility. Cross-linked polyolefin shrink films are particularly preferred for high-speed applications because of high tensile strength, high level of clarity, and the ability to prevent buildup on the sealing components. Moreover, polyolefin shrink plastic films exhibit excellent seal strength and puncture resistance which enables end-users to provide protection to irregular shaped products. Packaging manufacturers are also offering pre-perforated shrink plastic films to allow air to escape during the shrinking process. These features of polyolefin shrink plastic films will boost its adoption among end-users and fuel the growth of the market throughout the next five years.
The growing popularity of organized retailers due to convenience and wide variety of consumer products will boost the growth of the shrink plastic films. Moreover, increasing internet penetration has led to a shift in consumer preference in favor of online retail. This high growth of the retail and e-commerce industry has resulted in the growing demand for primary and secondary packaging, including shrink plastic films. Shrink plastic films help in protecting the products from damage thereby avoiding financial losses and damage to brand reputation. Hence, the growth of the retail sector will be a significant factor that will drive the shrink plastic film market growth at a CAGR of about 7% during the forecast period.
Top Companies in the Shrink Plastic Films Market
The global shrink plastic film market is fragmented. To help clients improve their market position, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this shrink plastic film market research report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of the upcoming growth opportunities.
The report offers a detailed analysis of several shrink plastic films companies, including:
- Bemis Co. Inc.
- Berry Global Inc.
- Coveris GmbH
- LyondellBasell Industries Holdings BV
- Sealed Air Corp.
Market Segmentation
Shrink Plastic Films Market by Application
- Food and beverages
- Healthcare and pharmaceuticals
- Consumer goods
- Others
The food and beverages segment will account for the highest shrink plastic film market share over the forecast period. This can be attributed to several factors such as the high use of shrink plastic films as secondary and tertiary packaging and the growth of the global functional beverages market. This report provides an accurate prediction of the contribution of all the segments to the growth of the shrink plastic film market size.
Shrink Plastic Films Market by Region
- APAC
- Europe
- MEA
- North America
- South America
With a complete study of the growth opportunities for the companies, it has been identified that the APAC region will account for the highest share of the shrink plastic film market throughout the forecast period. The increasing consumption of shrink plastic films in food and beverage and consumer goods applications in APAC will fuel shrink plastic films market growth in this region. APAC and South America will grow faster than the overall market. The growth of Europe, MEA, and North America will be slower than the global market.
Key Highlights of the Shrink Plastic Films Market for the Forecast Period 2019-2023
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the shrink plastic film market during the next five years
- Precise estimation of the global shrink plastic film market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the shrink plastic film industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of shrink plastic film companies
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