Biodegradable Shrink Films Market: An Overview
Biodegradable shrink films are packaging films that shrink tightly over things whatever it is covering when under application of heat. They are used for the packaging of individual or group products majorly in the food and beverage, personal care and cosmetic, pharmaceuticals industry. The growing demand for eco-friendly biodegradable material for packaging is most likely to create ample opportunities for the biodegradable shrink films market in the coming years. Biodegradable shrink films are widely used for shrink wrapping because they can be produced in a range of different densities and modified with different additives to perform multiple functions. These films can be used to bundle smaller goods together, moreover supermarket tray wraps are also manufactured using biodegradable shrink films. Biodegradable shrink films can be used for packaging individual bakeries products like muffins, candies, medicines, machinery parts, cosmetic droppers and perfumes along with confectionery products too. These films can be used as primary packaging contact with eatables. Owing to its exceptional tight sealing characteristics, the biodegradable shrink films market is anticipated to grow during the forecast period.
Biodegradable Shrink Films Market: Dynamics
The increase in concern for the safety of bakery and confectionery products is augmenting the demand for biodegradable shrink films. Biodegradable shrink films are used to shrink-wrap the bakery and confectionery products such as muffins, cookies for transport to different locations. This enables the product to remain fresh and attain a longer shelf life. The consumption of carbonated beverages and alcohol worldwide has increased over the past two decades. This trend has positively affected the usage of biodegradable shrink films on multipack systems of carbonated drinks. The rise in population and income for middle-class families are major factors influencing the consumption of alcoholic and carbonated beverages. Another factor being high commercialization and strengthened distribution channels adopted by manufacturers as well as online e-commerce stores drive the market demand. Changing consumer patterns and adoption of ready to drink beverages is a key opportunity for the target market. Customers prefer easy to carry packaging solutions that are convenient, safe and environmentally friendly. Biodegradable shrink films provide a perfect packaging solution that adheres to every client’s need. Biodegradable shrinkwraps hold the shape well for the bottles which is an attractive concept for consumer products. In the majority, the largest share in terms of application will be held be packed water bottles, because of the high demand for clean water across the globe. The biodegradable shrink wraps are an easier and cost-effective method for packaging and transporting packed drinking water bottles. These all factors summed up will exponentially increase the sales for biodegradable shrink films during future years.
Biodegradable Shrink Films Market: Segmentation
Based on thickness, the biodegradable shrink films market is segmented into:
- Up to 50 microns
- 51-100 microns
- 101- 150 microns
- Above 150 microns
Based on distribution channel, the biodegradable shrink films market is segmented into:
- Convenience Stores
- Speciality Stores
Based on end-use industry, the biodegradable shrink films market is segmented into:
- Food & Beverages
- Personal Care and Cosmetics
- Healthcare and Pharmaceuticals
Biodegradable Shrink Films Market: Regional Outlook
The European region is expected to lead the global market in demand for biodegradable shrink films due to the expanding and growing food & beverage industry along with an increasing number of consumers consuming packaged beverages and bakery products. Thriving usage of packaged beverages in residential and other public domains will boost the demand for biodegradable shrink films used for food & beverage industries in APAC. Apart from this rise in the application of biodegradable shrink films in the packaging of combined products like bottles and plastic goods also supplement the market growth. Also, the enhancing development in pharmaceutical industries in North America and APAC will lead to the demand for biodegradable shrink films. The rise in consumption of alcohol in India and China could be potentially linked to an increase in the target market income in these countries, because of the positive demand for beverage multipacks in the region. Moreover, the Latin America and MEA region are anticipated to offer an instrumental rise in growth for the biodegradable shrink films market with the overall development of various end-use industries in these regions.
Biodegradable Shrink Films Market: Key Players
Some of the global biodegradable shrink films manufacturers: -
- Amcor Plc
- Berry Global Inc.
- Coveris Holding SA
- Bonset America Corporation
- Flint Group
- Klockner Pentaplast
Some of the APAC biodegradable shrink films manufacturers: -
- Allen Plastics Industries Co. Ltd.
- Polyplex Corporation Ltd.
- Xianjing Rival Tech Co. Ltd.
- Huan Yuan Plastic Film Co. Ltd.
Regional Analysis Includes:
- North America
- Latin America
- Middle East & Africa (MEA)
- Asia Pacific (APAC)
The report biodegradable shrink films market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on flexible packaging market segments and geographies.
- A detailed overview of the parent market
- Changing biodegradable shrink films market dynamics in the industry
- In-depth biodegradable shrink films market segmentation
- Historical, current, and projected market size regarding volume and value
- Recent industry trends and developments in the biodegradable shrink films market
- Competitive landscape
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for players to sustain and enhance their market footprint
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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