Many of the products in today’s era require different style of packaging that must be flexible and even attractive. Shrink wrap packaging is an ideal solution for packing uneven shape objects with flexibility and ease. Shrink wrap is a process under which the product to be packed is covered with a shrink film, which is then heated so that it shrinks on the product. The shrink film is a polymer plastic film made of PVC, polyethylene, polypropylene, or polyolefin. Mostly Polyolefin with different thickness, strength, clarities, and shrink ratios is used as a shrink film. The film is heated with the help of a handheld gun, or the product along with the film is passed through the heating tunnel on a conveyor. Shrink wrap packaging serves the purpose of keeping the product stable and clean, and also helps make it tamper resistant. Shrink wrap packaging is used as an overwrap on boxes, cartons, pallet loads, and beverage cans. It is also used as a primary covering in many food items such as meats, cheese, plants, and vegetables. There are various shrink wrap packaging systems available in the market, which are equipped with different technologies such as sleeve wrappers, side sealers, shrink tunnels, and L-sealers.      

The ever expanding food industry and the safety concerns related to products during their transit are factors expected to bolster growth of the shrink wrap packaging systems market over the forecast period. Over the years, there has been a modest rise in application of shrink wrap packaging in industrial equipment. Thus, surge in industrialization in turn is expected to contribute towards growth of the shrink wrap packaging systems market over the forecast period. Shrink wrap is also used to wrap roofs after any natural disaster, such as earthquakes, hurricanes, tornadoes, which is a major beneficial feature that is expected to propel growth of the shrink wrap packaging system market in the near future. However, there are other substitutes available for shrink wrap packaging, such as vacuum packaging, which are equally reliable and effective; this may hamper growth of the shrink wrap packaging systems market over the forecast period. Also, the shrink wrap packaging process is risky, and the person handling the system needs to be cautious as the shrinking involves heating the material up to a high temperature, a factor which again could slowdown growth of the shrink wrap packaging systems market over the forecast period. 

Increasing consumer concerns over healthy and hygienic food are expected to create major growth opportunities for players operating in the global shrink wrap packaging systems market over the forecast period. Also, the food industry experts are trying to differentiate their products from their competitors by providing a robust and unitized packing format in the form of shrink wrap packaging. Due to the flexibility and easy handling features of the shrink wrap packaged products, shrink wrap packaging has become a preferred consumer choice in the global packaging industry. The global shrink wrap packaging system market is anticipated to expand at a single digit CAGR over the forecast period.

The global shrink wrap packaging systems market can be segmented on the basis of technology, type, application, and end-use industry. On the basis of technology, the global shrink wrap packaging systems market can be segmented as automatic, semi-automatic, fully-automatic, manual. On the basis of type, the global shrink wrap packaging systems market can be segmented into sleeve wrappers, L-sealers, side sealers, lap sealers and shrink tunnels. On the basis of application, the global shrink wrap packaging systems market can be segmented into trays, books, beverages, sleeve, sachet, cardboard box, and others. On the basis of end-use application, the global shrink wrap packaging systems market can be segmented into pharmaceuticals, food & beverages, automotive, consumer products, printing and health & beauty.

By geography, the global shrink wrap packaging systems market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Currently, Asia Pacific accounts for the maximum share of the shrink wrap packaging system market, owing to the ever increasing food industry in this region. In terms of demand for shrink wrap packaging system, the market in Asia Pacific is expected to be followed by North America, in view of the surge in industrialization and other economic factors in the region. Europe is also expected to be a major contributor to the growth of the shrink wrap packaging systems market over the forecast period, because of the bolstering meat market and other increasing frozen food items packaging requirements in the countries such Germany and Italy. Meanwhile, the Latin America shrink wrap packaging systems market is also expected to develop at a rapid pace. The Middle East & Africa market, on the other hand, is at a nascent stage.

Some of the key vendors identified across the value chain of the global shrink wrap packaging systems market include: Saitech Inc, Texwrap Packaging Systems, Arpac LLC, Shrinkwrap Machinery Co. Ltd, Gebo Cermex, Yorkshire Packaging Systems, and Extreme Packaging Machinery. 

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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