About Shrink Packaging
Shrink packaging is applied directly on a product or wrapping around of a product that is already wrapped with another technique with plastic films. Various forms of shrink wrap are used in all types of industries, from food processing plants to board game manufacturers. Shrink packaging is extremely versatile and can be used for a number of different functions, including bundling items together or protecting products against dust and moisture. The food packaging industry is one growth area that has seen the maximum number of innovations in terms of packaging and branding, in term of packaging. When it comes to food packaging consumers want their food products to be hygienic, safe and at the same time to look attractive.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Shrink Packaging market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Deufol SE (Germany), Dow Chemical Company (United States), Amcor Ltd. (Australia), Bonset America Corporation (United States), American Eagle packaging Corporation (United States), Bemis Company Inc. (United States), Berry Global Inc. (United States) and Printpack Corporation (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Shrink Packaging market by Type (Shrink Wrap, Shrink Sleeves, Shrink Bands, Shrink Tubing and Others), Application (Commercial Packaging, Retail Packaging, Food Packaging, Industrial Packaging and Others) and Region.
On the basis of geography, the market of Shrink Packaging has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Material, the sub-segment i.e. Polyvinyl Chloride (PVC) will boost the Shrink Packaging market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Development are Being Made in Packaging
Market Growth Drivers:
Rising Demand for Packaged Food and Use of Stretch and Shrink Films Leads to Easy Handling of Products
Challenges:
Shrink Films Has Less Resistance of Moisture Which May Be Challenging To Maintain
Restraints:
Stringent Government Regulations on Usage of Chemicals
Opportunities:
Growing Retail Sector in Developing Countries and High Demand for Shrink Films in Developing Countries
Market Leaders and their expansionary development strategies
On July 1, 2019 - Berry Global Group, Inc. has announced the completion of its acquisition of RPC Group Plc (RPC). The combination of Berry and RPC creates a leading global supplier of value-added protective solutions and one of the world’s largest plastic packaging companies. and On November 11, 2019 - Berry Global Group, Inc. has announced a collaboration with global chemical industry leader, SABIC in driving the innovation and use of polyolefin resins made from chemical recycling. The companies boast a longtime partnership and focus on their shared values of sustainability and promotion of a circular economy.
Key Target Audience
Manufacturers of Shrink Packaging Machines, Packaging Industry, Food & Beverage Industry, Raw Material Suppliers and Distributors and Traders
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.