#shrink packaging

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 2023

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.

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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 changing 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.

Key Players

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.

Shrink Packaging Market Segmentation

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.

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Industry News

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.

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Shrink packaging are those high-grade stretchable polythene films, which upon application of heat, shrink and tightly cover the objects over which they are placed. Shrink packaging are designed to have special chemical as well as physical properties. Such as these films are also moisture-resistant, which makes them a suitable packaging required for preventing spoilage of specific items vulnerable to moisture lead degradation. They find application in a myriad of industries such as food packaging for products like meat, poultry, seafood, dairy, fresh produce and other foods. Besides, industries such as those of beverage, paper & textile products, storage & distribution, manufacturing and warehousing and use hold an extensive requirement of shrink packages.

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A variety of shrink packaging are available in the market today such as linear low density polyethylene (LLDPE), low density polyethylene (LDPE), polyvinyl chloride etc. In addition, these shrink packaging are available as different products in the market like wraps, bags, labels, hoods etc. Labels and wraps lead the shrink packaging market in terms of demand and production followed by the other products.

Availability of cutting-edge technology for the production of these kinds of polythenes has really helped the shrink package market progress better. Besides, a light and biodegradable form of these shrink packaging are also available, which are encouraging its growth in the today’s environment-conscious world. Though these films have a high number of end-users, but competitions from various other varieties of available packaging is acting as a major constraint in the growth of the shrink packaging market.

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Asia-Pacific leads the global shrink packaging market followed by the Rest Of the World (RoW). The key players in the global shrink packaging market include AEP Industries, Amcor, Bemis Company, Berry Plastics, Aakriti Packaging, Alliance Plastics, Allied Plastics, American Eagle Packaging, AmTopp, Baoding Enshi Pack, Bollore and Bonset America.

FEW MAJOR TABLE POINTS :

1. INTRODUCTION TO THE SHRINK PACKAGING MARKET

2. EXECUTIVE SUMMARY

3. MARKET ANALYSIS OF SHRINK PACKAGING

4. SHRINK PACKAGING MARKET ANALYSIS BY SHRINK FILM MATERIAL

5.  SHRINK PACKAGING MARKET ANALYSIS BY PRODUCT TYPES

A. Wrap             B. Bags             C. Labels             D. Hoods

6. SHRINK PACKAGING MARKET ANALYSIS BY APPLICATIONS

1. Food Packaging                   2. Dairy         3. Fresh Produce        

7. SHRINK PACKAGING MARKET ANALYSIS BY REGION

8. COMPETITIVE LANDSCAPE OF SHRINK PACKAGING COMPANIES

9. COMPANY PROFILES OF SHRINK PACKAGING INDUSTRY

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