Published: Jan, 2019
Transparency Market Research delivers key insights on the shrink films market in its published report, titled “Shrink Films Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026.” In terms of revenue, the global shrink films market is estimated to expand at a CAGR of 5.1% during the forecast period, owing to numerous factors, about which TMR offers thorough insights and forecasts in this report.
Shrink films find applications in packaging of food such as meat, poultry and seafood, bakery & confectionary, and various others. Shrink films are primarily made up of polyethylene material which is cost-efficient as compared to other raw materials. On the other hand, polypropylene shrink films have high heat resistance and provide good transparency as compared to polyethylene and polyvinyl chloride shrink films. The global shrink films market is mainly structured in regions such as the Asia Pacific and North America, whereas Europe is expected to provide a broader opportunity during the forecast period. The global shrink films market is influenced by the high demand from the food and beverage industry.
In the report, TMR suggests that developing countries in the APAC region such as India and China will register impressive CAGR in the shrink films market during the forecast period. The packaged food and beverages industry is flourishing in developing regions owing to the increasing adoption of on-the-go lifestyle and increasing environmental awareness. Shrink films and wraps are largely preferred in the food and beverages industry as shrink films offer good barrier properties and are highly suitable for storage of food products. This is the one of the main reasons driving the shrink films market globally. Research also suggests that North America is estimated to have promising potential in the development of the shrink films market. The growth in the shrink films market is primarily credited to the increasing fast food chains and the preference for ready-to-drink beverages in the region. Many food manufacturers are looking for packaging techniques that can offer high-quality and efficient packaging solutions at cheaper costs, such as shrink films. Large supply chains and increased role of logistics, with companies adopting flexible packaging to optimize packaging systems for efficient and effective delivery are driving the demand for shrink films in the market. Low-cost, lightweight, and damage-resistant features of shrink films make them the highly sought after packaging product in the transport industry. According to the research done by TMR, the shrink films market has witnessed significant growth in last few years due to the swift demand from end-use applications such as fruits & vegetables, meat, poultry & seafood, etc.
The rapid growth of packaged food & beverages industry is driving the shrink films market globally. The global packaged food and beverages industry has increased manifold and is set to witness significant growth over the forecast period which, in turn, increases the demand for shrink films. Rapid growth of import and export businesses of manufacturers worldwide has resulted in large supply chains and increased role of logistics, with companies adopting flexible packaging to optimize the packaging systems for efficient and effective delivery, is driving the shrink films market. E-commerce players have taken to stretch pallets and shrink wraps owing to the high volume of consumption. Key features of shrink films such as cost efficiency, high barrier resistance, and damage control packaging have proven beneficial for e-commerce players to ensure convenience and efficient delivery of their products. However, shrink films find tough competition from other packaging films such as stretch films, in the market. Moreover, stringent government rules and regulations towards the use of plastics below 50 microns can hinder the shrink films market in the near future.
The key manufacturers in the shrink films market profiled in this report include– Sealed Air Corporation, Kureha Corporation, Winpak Ltd., Flexopack S.A., Coveris Holdings S.A., PREMIUMPACK GmbH, Schur Flexibles Group, Kuplast Matejka Kumar S.P., Buergofol GmbH, Allfo Vakuumverpackungen Hans Bresele Kg, Atlantis-Pak Co. Ltd., Inauen Group, Gap Foil, Allen Plastic Industries Co., Ltd., Transcontinental Inc., BP Plastics Holding Bhd, Crawford Packaging, SYFAN USA and Idemitsu Unitech CO., Ltd. Many local and unrecognized players are expected to contribute to the global shrink films market during 2018-26.
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.”