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Shrink Packaging Market Size

Report ID: GMI12372
Published Date: Nov 2024
Report Format: PDF

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Shrink Packaging Market Size

The global shrink packaging market was valued at USD 12.3 billion in 2024 and is estimated to grow at a CAGR of 7.8% from 2025 to 2034. A major growth driver for the market is the shift towards sustainability.

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The demand for packaging solutions with high recycled content and reduced CO2 emissions reflects increasing consumer and regulatory pressures for environmentally friendly options. This push for sustainable materials drives market expansion as companies seek to meet eco-friendly standards without sacrificing performance.

In February 2024, Intertape Polymer Group (IPG) launched ExlfilmPlus PCR, a polyolefin shrink film containing 35% recycled content. This sustainable film features at least 10% certified post-consumer recycled (PCR) and 25% post-industrial recycled (PIR) content. Its thinner gauges reduce material usage by up to 9%, catering to the growing demand for eco-friendly packaging solutions without compromising performance.

Shrink Packaging Market Report Attributes
Report Attribute	Details
Base Year:	2024
Shrink Packaging Market Size in 2024:	USD 12.3 Billion
Forecast Period:	2025 to 2034
Forecast Period 2025 to 2034 CAGR:	7.8%
2034 Value Projection:	USD 26.2 Billion
Historical Data for:	2022-2024
No. of Pages:	440
Tables, Charts & Figures:	676
Segments covered:	Material Type, Product, Packaging Type, End-use Industry
Growth Drivers:	Rising demand for sustainable packaging solutions Expansion of e-commerce and online shopping Innovations in high-performance shrink films Growth in food and beverage industry Cost-effective solution for various industries
Pitfalls & Challenges:	Limited recycling infrastructure and facilities Higher costs of sustainable materials

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Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

The global market size for shrink packaging was valued at USD 12.3 billion in 2024 and is projected to reach USD 26.2 billion by 2034, driven by a CAGR of 7.8% from 2025 to 2034.

The tertiary packaging segment is the fastest-growing, with a CAGR of over 9% from 2025 to 2034, driven by the rising global demand for efficient logistics and bulk transportation.

North America holds over 25% of the global market share, driven by increasing demand for efficient packaging solutions across the food and beverage, pharmaceutical, and e-commerce sectors.

Major players in the industry include AEP Industries, Allen Plastic Industries, Amcor, Balcan Innovations, Berry Global, CCL Industries, Coveris Holdings, CP Flexible Packaging, and Dow Chemical.