Shrink Packaging Market Research Report - Global Forecast to 2027

Global Shrink Packaging Market Research Report: By Material (Linear Low-Density Polyethylene (LLDPE), Low-Density Polyethylene (LDPE), PVC), Product (Hoods, Labels & Sleeves, Wrap),  Application (Food Packaging, Beverages) and Region — Forecast Till 2027

ID: MRFR/PNT/2911-HCR | February 2021 | Region: Global | 111 pages

Please note that the assessment period of report has been updated from 2018-2023 to 2020-2027. Cordially fill the sample form for updated data.

Market Synopsis of Shrink Packaging Market


Shrink packaging is basically used for a single or bundle of products to protect them from dust and dirt along with moisture damage or weathering. Shrink packaging tends to bind the components or products, especially small items, together. It is one of the best ways to protect the product during transportation and storage from surface damage. Heat is a very important part of overall shrink packaging process.The major components required for shrink packaging are heat machine and shrink wrap. Shrink wrap is a polymer plastic wrap which is made up of polyethylene, polyolefin and polyvinyl chloride (PVC). Polyolefin is a highly consumed raw material in shrink wraps. These wraps or films are also available in a wide array of variants depending on the degree of clarity, strength, shrink ratio and thicknesses. Shrink packaging is done by wrapping and sealing the film tightly around the item or bundle of items by heat gun or a heat tunnel.


Global shrink packaging market is expected to grow at a CAGR of 4.9% in the coming years. There are many factors affecting the growth of shrink packaging market. In last few years, the market of shrink packaging has been increasing due to increasing demand for products like food & beverage, cosmetics, pharmaceutical items in the developing countries. This is mainly due to the rising disposable income of people and chnaging lifestyle resulting in the consumption of packaged food products. Moreover, rapid industrialization and urbanization in countries such as China, Japan, and Indonesia are likely to impact the growth of the market positively. The ability of shrink packaging to wrap items of different shapes, sizes and volumes may also be a reason for the growth of the market. Polyolefin is also used as a raw material for manufacturing shrink films due to its easy recyclability as well as superior printability. This quality of polyolefin triggers the people to use of it. However, high cost of shrink wrapping machines may result in their slower adoption and can act as a restraint to the market of shrink packaging.


Segmentation of Shrink Packaging Market


Segmentation of Shrink Packaging Market


Source: MRFR Analysis


Global shrink packaging market has been segmented based on material, product, application, and region. On the basis of material, the market of shrink packaging is segmented as linear low-density polyethylene (LLDPE), low-density polyethylene (LDPE), polyvinyl chloride (PVC). The material segment of the market is dominated by low density polyethylene due to its flexibility and superior transparency. Majority of shrink films are made up of  low-density polyethylene (LDPE). Linear low-density polyethylene (LLDPE), on the other hand, is expected to be the fastest growing segment by material because of its high tensile strength and durability. Polyvinyl chloride (PVC) is a dense material, commonly used in countries like India for manufacturing shrink films. This is because, it is comparatively inexpensive, durable, and has a good shrink ratio.


Based on product, shrink film hoods are expected to register the highest growth rate in the forecast period. The growth is expected to be driven by the increasing demand for hoods in industrial packaging and consumer goods packaging. On the basis of applications, the market is segmented into food packaging, beverages, paper & textile products, and others. Beverages are expected to dominate the application segment of the market owing to increased consumption of beverages on a global level.


Regional Analysis of Global Shrink Packaging Market


On the basis of region, the global shrink packaging market has been covered in Asia-Pacific, North America, Europe and the rest of the world. Asia-Pacific is responsible for the largest market share of shrink packaging market. Major countries, particularly China and India, are expected to be the leading consumers because of the growing food & beverage industries and emerging e-commerce platforms in this region. Another reason for growing market in this area is the increasing demand for consumer goods because of the growing population along with the rise in disposable income.


Europe is also expected to be a key revenue contributor during forecast period because of growth in consumables market such as meat and other food products. North America is anticipated to register a healthy growth rate. The growth in this region can be attributable to the presence of many consumer goods manufacturing companies.


Key Players & Industry News


The prominent players in the shrink packaging market include Deufol SE (Germany), Dow Chemical Company (US), Aakriti Packaging (India), Amcor Ltd (Australia), Bonset America Corporation (US), American Eagle Packaging Corporation (U.S), Bemis Company, Inc. (US), Berry Global, Inc. (US), Printpack Incorporated (US), and others.


In Oct. 2010, Bonset America Corporation announced to establish a new plant as the subsidiary of Bonset near Montevideo, Uruguay. The new plant has additional capacity and is also the first high-quality heat shrinkable film manufacturing facility in South America.


In June 2014, Bemis Europe, a division of Bemis Company Inc., increased its shrink bag range and developed ClearShield PRO. This is a PVC-free fully coextruded bag which offers 100% surface protection with abrasion and extremely high puncture resistance.


The report for Global Shrink Packaging Market of Market Research Future comprises extensive primary research along with detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain a deeper insight into the market and industry performance. The report gives a clear picture of the current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macroeconomic and other governing factors of the market. The report provides detailed information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.



Frequently Asked Questions (FAQ) :


The key players are Deufol SE (Germany), Aakriti Packaging (India), Dow Chemical Company (US), Amcor Ltd (Australia), American Eagle Packaging Corporation (U.S), Berry Global, Inc. (US), Bonset America Corporation (US), Bemis Company, Inc. (US), and Printpack Incorporated (US).

The segments of the shrink packaging market based on product are labels & sleeves, hoods, wraps, and others.

The hoods segment is projected to exhibit the highest growth rate.

The shrink packaging market is supposed to augment at 4.9% CAGR.

The segments of the shrink packaging market based on material are - low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE), and polyvinyl chloride (PVC).

Table of Contents
1 Executive Summary

2 Research Methodology

2.1 Scope of the Study

2.1.1 Definition

2.1.2 Research Objective

2.1.3 Assumptions

2.1.4 Limitations

2.2 Research Process

2.2.1 Primary Research

2.2.2 Secondary Research

2.3 Market size Estimation

2.4 Forecast Model
3 Market Dynamics

3.1 Market Drivers

3.2 Market Inhibitors

3.3 Supply/Value Chain Analysis

3.4 Porter’s Five Forces Analysis

4 Global Shrink Packaging Market, By Material

4.1 Introduction

4.2 Linear Low Density Polyethylene (LLDPE)

4.3 Low Density Polyethylene (LDPE)

4.4 Poly vinyl chloride (PVC)

4.5 Others

5 Global Shrink Packaging Market, By Product

5.1 Introduction

5.2 Hoods

5.3 Labels & Sleeves

5.4 Wrap

5.5 Other

6 Global Shrink Packaging Market, By Application

6.1 Introduction

6.2 Food Packaging

6.3 Beverages

6.4 Paper & Textile Products

6.5 Others

7 Regional Market Analysis

7.1 Introduction

7.2 North America

7.2.1 U.S.

7.2.2 Canada

7.3 Europe

7.3.1 U.K

7.3.2 France

7.3.3 Germany

7.3.4 Spain

7.3.5 Rest of Europe

7.4 Asia-Pacific

7.4.1 China

7.4.2 Japan

7.4.3 India

7.4.4 Rest of Asia-Pacific

7.5 Rest of the World

8 Competitive Analysis

8.1 Introduction

8.2 Competitive Scenario

8.2.1 Market Share Analysis

8.2.2 Market Development Analysis

8.2.3 Product/Service Benchmarking

8.3 Deufol SE

8.3.1 Overview

8.3.2 Product/Service Offering

8.3.3 Strategy

8.4 Dow Chemical Company

8.4.1 Overview

8.4.2 Product/Service Offering

8.4.3 Strategy

8.5 Aakriti Packaging

8.5.1 Overview

8.5.2 Product/Service Offering

8.5.3 Strategy

8.6 Amcor Ltd

8.6.1 Overview

8.6.2 Product/Service Offering

8.6.3 Strategy

8.7 Bonset America Corporation

8.7.1 Overview

8.7.2 Product/Service Offering

8.7.3 Strategy

8.8 American Eagle Packaging Corporation

8.8.1 Overview

8.8.2 Product/Service Offering

8.8.3 Strategy

8.9 Bemis Company, Inc.

8.9.1 Overview

8.9.2 Product/Service Offering

8.9.3 Strategy

8.10 Berry Global, Inc

8.10.1 Overview

8.10.2 Product/Service Offering

8.10.3 Strategy

8.11 Printpack Incorporated

8.11.1 Overview

8.11.2 Product/Service Offering

8.11.3 Strategy

LIST OF TABLES
TABLE 1 GLOBAL SHRINK PACKAGING MARKET, BY MATERIAL

TABLE 2 GLOBAL SHRINK PACKAGING MARKET, BY PRODUCT

TABLE 3 GLOBAL SHRINK PACKAGING MARKET, BY APPLICATION

TABLE 4 GLOBAL SHRINK PACKAGING MARKET, BY REGIONS

TABLE 5 NORTH AMERICA SHRINK PACKAGING MARKET, BY COUNTRY

TABLE 6 NORTH AMERICA SHRINK PACKAGING MARKET, BY MATERIAL

TABLE 7 NORTH AMERICA SHRINK PACKAGING MARKET, BY PRODUCT

TABLE 8 NORTH AMERICA SHRINK PACKAGING MARKET, BY APPLICATION

TABLE 9 U.S. SHRINK PACKAGING MARKET, BY MATERIAL

TABLE 10 U.S. SHRINK PACKAGING MARKET, BY PRODUCT

TABLE 11 U.S. SHRINK PACKAGING MARKET, BY APPLICATION

TABLE 12 CANADA SHRINK PACKAGING MARKET, BY MATERIAL

TABLE 13 CANADA SHRINK PACKAGING MARKET, BY PRODUCT

TABLE 14 CANADA SHRINK PACKAGING MARKET, BY APPLICATION

TABLE 15 EUROPE SHRINK PACKAGING MARKET, BY COUNTRY

TABLE 16 EUROPE SHRINK PACKAGING MARKET, BY MATERIAL

TABLE 17 EUROPE SHRINK PACKAGING MARKET, BY PRODUCT

TABLE 18 EUROPE SHRINK PACKAGING MARKET, BY APPLICATION

TABLE 19 GERMANY SHRINK PACKAGING MARKET, BY MATERIAL

TABLE 20 GERMANY SHRINK PACKAGING MARKET, BY PRODUCT

TABLE 21 GERMANY SHRINK PACKAGING MARKET, BY APPLICATION

TABLE 22 FRANCE SHRINK PACKAGING MARKET, BY MATERIAL

TABLE 23 FRANCE SHRINK PACKAGING MARKET, BY PRODUCT

TABLE 24 FRANCE SHRINK PACKAGING MARKET, BY APPLICATION

TABLE 25 U.K. SHRINK PACKAGING MARKET, BY MATERIAL

TABLE 26 U.K. SHRINK PACKAGING MARKET, BY PRODUCT

TABLE 27 U.K. SHRINK PACKAGING MARKET, BY APPLICATION

TABLE 28 SPAIN SHRINK PACKAGING MARKET, BY MATERIAL

TABLE 29 SPAIN SHRINK PACKAGING MARKET, BY PRODUCT

TABLE 30 SPAIN SHRINK PACKAGING MARKET, BY APPLICATION

TABLE 31 REST OF EUROPE SHRINK PACKAGING MARKET, BY MATERIAL

TABLE 32 REST OF EUROPE SHRINK PACKAGING MARKET, BY PRODUCT

TABLE 33 REST OF EUROPE SHRINK PACKAGING MARKET, BY APPLICATION

TABLE 34 ASIA-PACIFIC SHRINK PACKAGING MARKET, BY COUNTRY

TABLE 35 ASIA-PACIFIC SHRINK PACKAGING MARKET, BY MATERIAL

TABLE 36 ASIA-PACIFIC SHRINK PACKAGING MARKET, BY PRODUCT

TABLE 37 ASIA-PACIFIC SHRINK PACKAGING MARKET, BY APPLICATION

TABLE 38 CHINA SHRINK PACKAGING MARKET, BY MATERIAL

TABLE 39 CHINA SHRINK PACKAGING MARKET, BY PRODUCT

TABLE 40 CHINA SHRINK PACKAGING MARKET, BY APPLICATION

TABLE 41 JAPAN SHRINK PACKAGING MARKET, BY MATERIAL

TABLE 42 JAPAN SHRINK PACKAGING MARKET, BY PRODUCT

TABLE 43 JAPAN SHRINK PACKAGING MARKET, BY APPLICATION

TABLE 44 INDIA SHRINK PACKAGING MARKET, BY MATERIAL

TABLE 45 INDIA SHRINK PACKAGING MARKET, BY PRODUCT

TABLE 46 INDIA SHRINK PACKAGING MARKET, BY APPLICATION

TABLE 47 REST OF ASIA-PACIFIC SHRINK PACKAGING MARKET, BY MATERIAL

TABLE 48 REST OF ASIA-PACIFIC SHRINK PACKAGING MARKET, BY PRODUCT

TABLE 49 REST OF ASIA-PACIFIC SHRINK PACKAGING MARKET, BY APPLICATION

TABLE 50 RoW SHRINK PACKAGING MARKET, BY MATERIAL

TABLE 51 RoW SHRINK PACKAGING MARKET, BY PRODUCT

TABLE 52 RoW SHRINK PACKAGING MARKET, BY APPLICATION


LIST OF FIGURES
FIGURE 1 RESEARCH TYPE

FIGURE 2 GLOBAL SHRINK PACKAGING MARKET: BY MATERIAL (%)

FIGURE 3 GLOBAL SHRINK PACKAGING MARKET: BY PRODUCT (%)

FIGURE 4 GLOBAL SHRINK PACKAGING MARKET: BY APPLICATION (%)

FIGURE 5 GLOBAL SHRINK PACKAGING MARKET: BY REGION

FIGURE 6 NORTH AMERICA SHRINK PACKAGING MARKET, BY MATERIAL (%)

FIGURE 7 NORTH AMERICA SHRINK PACKAGING MARKET, BY PRODUCT (%)

FIGURE 8 NORTH AMERICA SHRINK PACKAGING MARKET, BY APPLICATION (%)

FIGURE 9 EUROPE SHRINK PACKAGING MARKET, BY MATERIAL (%)

FIGURE 10 EUROPE SHRINK PACKAGING MARKET, BY PRODUCT (%)

FIGURE 11 EUROPE SHRINK PACKAGING MARKET, BY APPLICATION (%)

FIGURE 12 ASIA-PACIFIC SHRINK PACKAGING MARKET, BY MATERIAL (%)

FIGURE 13 ASIA-PACIFIC SHRINK PACKAGING MARKET, BY PRODUCT (%)

FIGURE 14 ASIA-PACIFIC SHRINK PACKAGING MARKET, BY APPLICATION (%)

FIGURE 15 ROW SHRINK PACKAGING MARKET, BY MATERIAL (%)

FIGURE 16 ROW SHRINK PACKAGING MARKET, BY PRODUCT (%)

FIGURE 17 ROW SHRINK PACKAGING MARKET, BY APPLICATION (%)