What is Shrink Packaging Market?
Shrink packaging is applied directly on a product or wrapping around of a product that is already wrapped with another technique with plastic films. Various forms of shrink wrap are used in all types of industries, from food processing plants to board game manufacturers. Shrink packaging is extremely versatile and can be used for a number of different functions, including bundling items together or protecting products against dust and moisture. The food packaging industry is one growth area that has seen the maximum number of innovations in terms of packaging and branding, in term of packaging. When it comes to food packaging consumers want their food products to be hygienic, safe and at the same time to look attractive.
Highlights from Shrink Packaging Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Deufol SE (Germany), Dow Chemical Company (United States), Amcor Ltd. (Australia), Bonset America Corporation (United States), American Eagle packaging Corporation (United States), Bemis Company Inc. (United States), Berry Global Inc. (United States) and Printpack Corporation (United States) |
Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Shrink Packaging market throughout the forecasted period.
Deufol SE (Germany), Dow Chemical Company (United States), Amcor Ltd. (Australia), Bonset America Corporation (United States), American Eagle packaging Corporation (United States), Bemis Company Inc. (United States), Berry Global Inc. (United States) and Printpack Corporation (United States) are some of the key players profiled in the study. Shrink Packaging Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Commercial Packaging, Retail Packaging, Food Packaging, Industrial Packaging and Others |
Type | Shrink Wrap, Shrink Sleeves, Shrink Bands, Shrink Tubing and Others |
Material | Polyvinyl Chloride (PVC),Polyethylene (PE),Poly Vinyl Chloride,Others |
On the basis of geography, the market of Shrink Packaging has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Development are Being Made in Packaging
Market Growth Drivers:
Rising Demand for Packaged Food and Use of Stretch and Shrink Films Leads to Easy Handling of Products
Challenges:
Shrink Films Has Less Resistance of Moisture Which May Be Challenging To Maintain
Restraints:
Stringent Government Regulations on Usage of Chemicals
Opportunities:
Growing Retail Sector in Developing Countries and High Demand for Shrink Films in Developing Countries
Key Target Audience
Manufacturers of Shrink Packaging Machines, Packaging Industry, Food & Beverage Industry, Raw Material Suppliers and Distributors and Traders
Market Leaders & Development Strategies
On July 1, 2019 - Berry Global Group, Inc. has announced the completion of its acquisition of RPC Group Plc (RPC). The combination of Berry and RPC creates a leading global supplier of value-added protective solutions and one of the world’s largest plastic packaging companies. and On November 11, 2019 - Berry Global Group, Inc. has announced a collaboration with global chemical industry leader, SABIC in driving the innovation and use of polyolefin resins made from chemical recycling. The companies boast a longtime partnership and focus on their shared values of sustainability and promotion of a circular economy.