Shrink Films Market: Over 35% of the Total Sales Are Estimated to Be Generated by the Meat, Poultry, and Seafood Segment in Food by 2027 

The global market for shrink films was valued at US$ 4.16 Bn in 2018 and is projected to expand at a CAGR of 5.1%, during the forecast period (2018-2026).

Among the packaging industry, flexible packaging is one of the fastest growing segments and is widely replacing rigid packaging segment for various applications. Shrink films are flexible packaging films that are sealed around a product and shrink tightly when heat is applied. Shrink films find wide usage in packaging of food items and other consumer goods.

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 Western Europe and North America whereas, the Asia Pacific region 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.

Growing e-commerce industry driving the demand for shrink films

Globalization has led to rapid growth of import and export businesses of manufacturers worldwide. This has resulted in large supply chains and increased the role of logistics, with companies adopting flexible packaging to optimize packaging systems for efficient and effective delivery. Therefore, driving the demand for shrink films in the market. Low-cost, lightweight, and damage-resistant features of shrink films packaging make it the highly-sought after packaging product in the transport industry. Also, rigid packaging is being rapidly replaced by flexible packaging, due to its characteristics such as enhanced barrier resistance, re-sealable closures, cost efficiency, and lightweight qualities. Among several variants of flexible packaging, shrink films find numerous applications throughout the supply chain. There is an increasing demand for shrink films for packaging and transportation in every sector.

Moreover, e-commerce players have taken to shrink films seeing their advantages over stretch and other films. Key features of shrink films such as cost efficiency, high barrier resistance, and damage control packaging characteristics have proved beneficial for e-commerce players to ensure convenient and efficient delivery of their products. However, increasing government rules and regulations towards plastic packaging can hinder the shrink films market in the near future.

shrink films market

Global Shrink Films Market: Taxonomy

The global shrink films market has been segmented on the basis of material type, barrier type, thickness, packaging application, end use, and region.

On the basis of thickness, the shrink films market study includes below 15 microns, 15 to 30 microns, 30 to 50 microns, and above 50 microns segments. Of these, shrink films of thickness 15 to 30 microns account for the major share of the global shrink films market.

The barrier type considered in the shrink films market study includes low barrier, medium barrier, high barrier, and ultra-high barrier films. Of these, the medium barrier shrink films segment accounts for the major share of the global shrink films.

On the basis of material, the shrink films market has been segmented into various categories such as polyethylene, polypropylene, PET, EVOH, PVC, PVDC, and PA respectively. Of these, the polyethylene segment will grow at a healthy CAGR in the global shrink films market.

On the basis of packaging applications, the shrink films market has been segmented into three categories such as wraps, bags and labels. Of these, the wraps segment will grow at a healthy CAGR in the global Shrink films market.

On the basis of end use, the global shrink films market has been segmented into seven segments that are food, beverage, electrical and electronics, personal care and cosmetics, textile and apparels, and other consumer goods. The beverage segment in the global shrink films market is expected to heavily dominate the market during the forecast period.

Global Shrink Films Market: Competitive Landscape

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.

Global Shrink Films Market: Key Developments

There are multiple players operating in the global stretch and shrink films market. However, there is an increasing shift in dynamics toward market consolidation. This is attributed to mergers and acquisitions by major companies operating in the U.S. and Europe in order to capitalize on untapped market potential in APAC and Africa.

  • In August 2018, sealed air corporation further expanded its portfolio and design capabilities with the acquisition of AFP, Inc., a leading manufacturer of barrier films such as stretch and shrink films.
  • In October 2015, Berry Plastics acquired AVINTIV Inc. to further strengthen its global presence in plastics packaging, especially in films segment.

In this report, Transparency Market Research offers an 8-year forecast of the global shrink films market between 2018 and 2027. In terms of value, the global shrink films market is expected to expand at a CAGR of 5.1% during the forecast period. The study reveals shrink films market dynamics in five geographic segments along with a market analysis for the current market environment and future scenario over the forecast period.

Shrink Films Market: Report Description

This TMR report studies the global shrink films market for the period 2018–2026. The prime objective of this report is to offer insights and key market trends pertaining to the global shrink films market that gradually help transform global businesses.

The shrink films market numbers have been assessed by carefully scrutinizing the production of shrink films, in all five key regions for the current year, as well as the historical performance of the shrink films market. Market size and forecast for each segment in the shrink films market have been provided in the context of regional markets. All the segmentation for shrink films has been considered after appropriate secondary research and revalidation of the data obtained through interviews with key thought leaders in the industry. The shrink films market has been forecast based on constant currency rates.

A number of primary and secondary sources were consulted during the course of the study on the shrink films market. Secondary sources for data on shrink films trade include Factiva as well as company annual reports & publications. Detailed trade data has been provided to assess the global shrink films market production scenario.

The global shrink films market report begins with an executive summary intended to give a clear perspective about the market to the reader. It is then followed by a thorough definition of shrink films and the market segmentation describing the scope of the study. This is to outline the significance of shrink films as a product, and the impact of their market growth on the industry.

The Porter’s Analysis section ensures a thorough understanding of the level of competition in the shrink films market. Porter’s Analysis for the global shrink films market has been covered for bargaining power of suppliers and buyers, threat of substitutes and new entrants, and the intensity of competition. This is followed by market dynamics and an overview of the global shrink films market, which includes TMR analysis of market drivers, restraints, trends, and opportunities that are affecting the growth of the shrink films market.  

On the basis of barrier type, the shrink Films market study includes low barrier, medium barrier, high barrier, and ultra-high barrier segments. Of these, shrink films of medium barrier account for a major share of the global shrink films market

On the basis of thickness, the shrink films market study includes less than 15 microns, 15 to 30 microns, 30 to 50 microns, and above 50 microns segments. Of these, shrink films of thickness 10 to 15 microns account for a major share of the global shrink films market.

On the basis of the material type, the shrink films market has been segmented into seven categories that are polyethylene, polypropylene, PET, EVOH, PVC, PVDC, and PA. Of these, the polyethylene segment will grow at a healthy CAGR in the global shrink films market.

On the basis of packaging application, the shrink Films market has been segmented into three categories, wraps, bags, and labels. Of these, the wraps segment accounts for the major share of the global shrink films market.

On the basis of end-use, the global shrink films market has been segmented into seven segments that are dairy products, fruits and vegetables, bakery & confectionary, meat, poultry & seafood, sauce, dips, & condiments, chilled & frozen food, snacks, and others (food grains, etc.). Meat, poultry and seafood segment in the global shrink films market is expected to heavily dominate the market during the forecast period.

The next section of the report highlights the shrink films market by region and provides the market outlook for 2018–2027. The report evaluates the present scenario and growth prospects of the regional shrink films market for 2018–2027. The next section of the report highlights the shrink films market by region and provides the market outlook for 2018–2028. The study investigates the regional year-on-year (Y-o-Y) growth of the shrink films market. The key regions assessed in this report include North America, Latin America, Europe, Asia-Pacific (APAC), and the Middle East & Africa (MEA). The report evaluates the present scenario and growth prospects of the regional shrink films market for 2018–2028.

To ascertain the market size in terms of value and volume, revenue generated by the key manufacturers of shrink Films and their respective production capacity is taken into consideration. The forecast presented here assesses the total revenue generated by value across the shrink films market. In order to provide an accurate forecast, we started by sizing up the current market, which formed the basis of how the shrink films market is expected to develop in the future. To understand the key growth segments in terms of growth and adoption of shrink films globally, in the final section of the report, a ‘dashboard view’ of the companies is provided to compare the current industrial scenario and their contribution to the total shrink films market. Moreover, it is primarily designed to provide clients an objective and exhaustive list of manufacturers in the shrink films market. Detailed comparative assessment of key providers specific to a segment in the shrink films market is also included. Report audiences can gain segment-specific manufacturer insights to identify and evaluate key competitors in the shrink films market.

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.

Key Segments Covered in the Shrink Films Market

Type

  • Low Barrier
  • Medium Barrier
  • High Barrier
  • Ultra-high Barrier

Thickness

  • Up to 15 microns
  • 15 to 30microns
  • 30-50 microns
  • Above 50 microns 

Packaging Application

  • Wraps
  • Bags
  • Labels 

Material

  • Polyethylene
  • Polypropylene
  • PET
  • EVOH
  • PVC
  • PVDC
  • PA 

End Use

  • Dairy Products
  • Fruits & Vegetables
  • Bakery & Confectionary
  • Meat, Poultry, and Seafood
  • Cosmetics & Healthcare Products
  • Consumer Goods & Household
  • Food Service Outlets
  • Other Industrial Uses 

Region

  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Europe
    • EU – 4
    • UK
    • NORDIC
    • Russia
    • Poland
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • Japan
    • ASEAN Countries
    • Australia & New Zealand
    • Rest of APAC
  • Middle East & Africa (MEA)
    • GCC Countries
    • South Africa
    • North Africa
    • Rest of MEA
  • Middle East & Africa
    • GCC Countries
    • Turkey
    • North Africa
    • South Africa
    • Rest of MEA

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