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

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold 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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