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Shrink Wrap Packaging Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast

Global shrink wrap packaging market estimated to register a CAGR of over 5.1% during the forecast period 2018 to 2026.
Shrink Wrap Packaging Market Global Trends, Market Share, Industry Size, Growth,
Opportunities, and Market Forecast 2018 to 2026
Global shrink wrap packaging market estimated to register a CAGR of over 5.1%
during the forecast period 2018 to 2026.
Shrink wrap packaging is used to apply the process of shrinking products to provide
efficient packaging solutions. It is usually done by combining small items together
and wrapping them with the help of films and continuing with the shrinking process
thereafter to make it compact. The bundles of items are packed together to increase
durability, and protect against damage. The chances of wear tear through moisture
exposure or water is minimised by this method.
This type of packaging is an ideal solution for packing several objects together,
uneven shape objects to enable seamless transport. It covers packaging of bulk
boxes, cartons, and cans. Very widely used in the food industry. There are different
techniques such as sleeve wrappers, side sealers, shrink tunnels, and L-sealers, all
majorly dependant on heat.
The two major steps involved in the shrink wrap packaging process requires a heat
machine and shrink wrap thereafter. Shrink is a category of polymer plastic wrap,
comprising of polyethylene, polyvinyl chloride (PVC) and polyolefin. The material
which is highly consumed in shrink wrap is polyolefin. These wraps also commonly
called as films, vary according to visibility, tenacity, shrinking capacity and sturdiness
and can be used accordingly serving various purposes. The process of shrink
packaging is enclosing and securing the item or bundles with the film or wrap with
the help of a heat gun or heat tunnel.
Growing industries such as food, healthcare, personal care items due to rise in
population thus drive the shrink wrap market to grow further. Rising disposable
incomes along with the use of Polyolefin as raw material, promote the use of these
products. The material is print friendly and recyclable and thus preferred. Increased
availability of industrial packaging equipment thus increases the resources enabling
more production. Shrink wrap technology is also used to coat and fix roofs after any
natural disaster, which is a very beneficial aspect promoting more growth of this
Due to the need for anti-counterfeiting of products, shrink technology solves all that
and also allows ease of transportation. New developments in this industry are, in
2016, Clysar, packaging service provider introduced its new developments in
packaging solutions.
Amcor Ltd. launched the transparent packaging technology which enables customers
to look at the product from outside. Berry Global Group, Inc., attempted a merger &
acquisition and continued partnership & collaboration with major companies. In
order to expand their business and increase network, so in 2015, Berry Plastics
Group, Inc. acquired AVINTIV Inc.
Shrink Wrap Packaging Market: Restraints
+ Expensive machines and technology
+ Availability of substitute packaging solutions
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Shrink Wrap Packaging Market Segmentation
By Product Type
+ Hoods
+ Labels & Sleeves
+ Wraps
The shrink film hoods segment is projected to grow at the highest rate in the forecast
By Material
LDPE dominates the material segment of the shrink packaging market given its
flexibility and clarity. Linear low-density polyethylene (LLDPE), is expected to grow at
a fast rate due to its tenacity and strength.
By Region
+ North America
+ Latin America
+ Europe
+ Asia Pacific
+ Rest of the World
Asia-Pacific is the largest market share holder of the shrink packaging market.
Countries like China and India, are expected to be the leading consumers. Europe is
also expected to be a key revenue contributor during the forecast period. North
America is anticipated to register a healthy growth rate.
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Competitive Landscape:
+ Tier 1 players- established companies in the market with a major market share
+ Tier 2 players
+ Emerging players which are growing rapidly
+ New Entrants
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.
FutureWise Key Takeaways
+ Growth prospects
+ SWOT analysis
+ Key trends
+ Key data-points affecting market growth
Objectives of the Study:
+ To provide with an exhaustive analysis on the global Shrink Wrap Packaging Market
by Product Type, by Material, and by Region
+ To cater comprehensive information on factors impacting market growth (drivers,
restraints, opportunities, and industry-specific restraints)
+ To evaluate and forecast micro-markets and the overall market
+ To predict the market size, in key regions (along with countries)—North America,
Europe, Asia Pacific, Latin America, and the Middle East
+ To record evaluate and competitive landscape mapping- product launches,
technological advancements, mergers and expansions
+ Profiling of companies to evaluate their market shares, strategies, financials and
core competencies
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About FutureWise Research:
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their industry – a position secured for far more than the near future.
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