Shrink Plastic Films Market: Solution for Food & Beverages Packaging Industry

  • Shrink plastic films provide good shelf life, strong sealing capability, printability, and lightweight packaging features. These films are easier to carry and also reduce the transportation expense of beverages compared to rigid packaging.
  • Shrink plastic films are used to secure pallets during transportation. They also protect them against contamination and adverse weather.
  • The advantages of employing shrink plastic films in packaging process includes flexibility, strength, recyclability and visual capabilities.

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Key Drivers of Shrink Plastic Films Market

  • Globalization has led to rapid growth of import and export businesses of manufacturers across the globe. This has resulted in large supply chains and increased role of logistics, with companies adopting flexible packaging to optimize packaging systems for efficient and effective delivery. This is driving the demand for shrink plastic films.
  • Low-cost, light weight, and damage-resistant features of shrink plastic films packaging are boosting the demand for these films in the transportation industry. Rigid packaging is being rapidly replaced by flexible packaging, due to the latter’s 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. Demand for shrink plastic films has been increasing significantly in the packaging sector.
  • E-commerce players have been increasingly adopting shrink plastic films considering the advantages of these films over stretch and other films. Key features of shrink plastic films such as high barrier resistance and damage control packaging have proved beneficial for e-commerce players to ensure convenient and efficient delivery of their products.

Printed Shrink Plastic Films Segment to Offer Attractive Opportunities

  • Demand for printed shrink plastic films in the beverage packaging industry is anticipated to increase at a rapid pace during the forecast period. Shrink plastic films offer sustainable packaging solutions, as they reduce the weight of packaging. It works as an easy solution towards the regulations concerning less waste and lower weight of packaging. Additionally, shrink plastic films possess good shelf-appeal and are cost effective.
  • Printed shrink plastic films save hidden costs such as pre-labeled products and expense on Universal Product Code. These films also limit the use of adhesives and the need of secondary sleeves for branding. Thus, demand for shrink plastic films market has been increasing in the beverage packaging industry, as these films provide a one-stop solution for companies that require sustainable, low cost, and shelf-appeal packaging options.

Availability of Substitutes Likely to Hamper Market

  • Availability of alternative materials to plastic can be the major factor restraining the global shrink plastic films market. The cost of shrink plastic films is higher compared to normal plastic films that are used for packaging of products. This can hamper the demand for shrink plastic films during the forecast period.
  • Currently, plastic is available in the biodegradable form. Demand for biodegradable plastics is high due to the rise in awareness about environmental issues.

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Asia Pacific Expected to Hold Major Share of Global Shrink Plastic Films Market

  • The shrink plastic films market in Asia Pacific is expected to expand significantly during the forecast period, due to the rise in consumption of alcoholic beverages and increase in demand for ready-to-drink fruit juices in the food & beverages packaging industry. Asia Pacific is the most populated region in the world. Consequently, demand for ready-to-eat food is high in the region. The global shrink plastic films market is driven by the high demand in the food & beverage industry.
  • The shrink plastic film market in Europe is projected to expand at a moderate pace during the forecast period. Demand for shrink plastic films in these regions is likely to rise in the next few years, due to the increase in usage of canned food products.
  • Demand for shrink plastic films is estimated to rise significantly in Middle East & Africa and Latin America in the near future. These two regions accounted for low share of the global shrink plastic films market, in terms of demand, in 2018. However, these regions are projected to create lucrative opportunities for the shrink plastic films market during the forecast period.

Key Players in Market

Various players operate in the global shrink plastic films market. However, there is an increasing shift in dynamics toward market consolidation. This can be ascribed to mergers and acquisitions by major companies operating in the U.S. and Europe in order to capitalize on untapped market potential in Asia Pacific and Africa. For instance, in August 2018, Sealed Air Corporation expanded its portfolio and design capabilities with the acquisition of AFP, Inc., a leading manufacturer of barrier films such as stretch and shrink films. Key players operating in the global shrink plastic films market include:

  •  Aep Industries Inc.
  • Berry Plastics Corporation
  • Amcor Limited
  • Bemis Company, Inc
  • Coveris Holdings S.A.
  • Vishakha Polyfab Pvt Ltd
  • Ceisa Packaging Sas
  • Clondalkin Group Holdings Bv
  • Plastotecnica Spa
  • Sealed Air
  • RKW SE
  • Others

Global Shrink Plastic Films Market: Research Scope

Global Shrink Plastic Films Market, by Type

  • Printed
  • Unprinted

Global Shrink Plastic Films Market, by Application

  • Food & Beverages Packaging
  • Industrial Packaging
  • Pharmaceutical Packaging
  • Others

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
  • Insights and Tools based on data-driven research
  • 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
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

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.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

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?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Shrink Plastic Films Market

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