Polyolefin Shrink Film Market
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Polyolefin Shrink Film Market size was valued at around USD 6.1 billion in 2023 and is anticipated to grow at a CAGR of 5.3% between 2024 and 2032. Polyolefin shrink film is suitable for a wide range of products, including food, beverages, cosmetics, pharmaceuticals, electronics, and more. It can be used to package both individual items and multi-item packs. Polyolefin shrink film offers excellent protection against moisture, dust, contaminants, and physical damage during transportation and storage.
Shrink film enhances the visual appeal of products by providing a transparent and glossy finish, allowing consumers to see the product inside. The shrink-wrapping process can create a sleek and professional look for products on retail shelves.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Polyolefin Shrink Film Market size in 2023: | USD 6.1 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 5.3 |
| 2023 Value Projection: | USD 9.7 Billion |
| Historical Data for: | 2018 - 2023 |
| No of Pages: | 150 |
| Tables, Charts & Figures: | 191 |
| Segments Covered: | Material Type, Type, End-use, Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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Despite being recyclable, polyolefin shrink film is still a plastic material, and its production and disposal contribute to plastic waste issues and environmental concerns. Increasing consumer demand for sustainable packaging solutions has put pressure on manufacturers to develop eco-friendly alternatives to traditional polyolefin shrink films. Energy-efficient manufacturing processes and the use of renewable energy sources are challenges that need to be addressed. Thus, the risks associated with Polyolefin shrink film may drive down the acceptance rate, further hampering the business growth.
The pandemic led to an increase in demand for packaged goods, including food, beverages, pharmaceuticals, and e-commerce products. This surge in demand for packaged items contributed to the demand for packaging materials like polyolefin shrink film. Thus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is anticipated to drive the polyolefin shrink film industry expansion in the upcoming years.
Increasing environmental awareness has driven the demand for more sustainable packaging solutions, including polyolefin shrink film with bio-based or recycled content. Manufacturers are exploring ways to reduce the environmental impact of their products by developing biodegradable, compostable, and recyclable shrink films. The growth of e-commerce has led to a surge in demand for packaging materials that can protect products during shipping and improve the unboxing experience. Polyolefin shrink film plays a role in ensuring products reach consumers in good condition and with an appealing presentation.
Based on material type, the polyolefin shrink film market is segmented as polyethylene (PE) shrink film, polypropylene (PP) shrink film. Polyethylene (PE) Shrink Film held a majority market value of USD 3.1 billion in 2022. PE shrink film is often considered more affordable compared to other shrink film materials, making it an attractive option for businesses seeking cost-effective packaging solutions.
Based on type, the polyolefin shrink film market is segmented as general shrink film, cross-linked shrink film. General Shrink Film held a dominant market share of around 65% in 2022 and is expected to grow at a lucrative pace through 2032. General Shrink film provides effective protection against moisture, dust, dirt, and physical damage during transportation, storage, and retail display.
Based on end-use, the polyolefin shrink film market is segmented as food and beverage, retail and e-commerce, manufacturing and distribution, consumer goods, printed material, others. Food & beverages held a dominant market share in 2022 and is anticipated to grow at 5.1% CAGR through 2032. Polyolefin shrink film helps maintain the freshness, hygiene, and safety of food and beverage products during transportation and storage. Thus, the high-quality services and growing usage of Polyolefin shrink film at food centres are anticipated to expedite the business growth.
U.S. dominated the North American region with majority polyolefin shrink film market share and a revenue of USD 1.2 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032. The rapid expansion of e-commerce in North America has increased the need for packaging materials that can protect products during shipping and improve the unboxing experience.
Some of the major business players operating in the Polyolefin shrink film market are
These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
Polyolefin (POF) shrink film market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments:
By Material Type
By Type
By End-use
The above information is provided for the following regions and countries:
Some of the top firms in the polyolefin shrink film industry are Sealed Air Corporation, Berry Global Group, Inc., Amcor plc, Coveris Holdings S.A., Bemis Company, Inc. (Part of Amcor), Sigma Plastics Group, AEP Industries Inc., Intertape Polymer Group Inc., Ship-Pac, Inc., Bollore Group, and Dow Inc.
U.S. market for polyolefin shrink film was USD 1.2 billion in 2022 and is projected to expand at a steady pace from 2023-2032 attributed to the rapid expansion of e-commerce and the surging demand for packaging materials.
Market size for polyolefin shrink film reached around USD 6.1 billion in 2023 and is estimated to record USD 9.7 billion by 2032, driven by widespread application in the packaging of food, beverages, cosmetics, pharmaceuticals, and electronics.
Polyolefin shrinks film market from the polyethylene (PE) shrink film segment accounted for USD 3.1 billion in revenue in 2022 and is likely to witness high demand through 2032 due to its affordability compared to other shrink film materials.