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Shrink Packaging Market Trends

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

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Shrink Packaging Market Trends

A key trend in the shrink packaging industry is the shift towards sustainability through the use of recycled materials. Companies are increasingly incorporating post-consumer recycled content to develop eco-friendly shrink films. This approach aims to reduce carbon footprints while maintaining high performance, aligning with consumer demand and regulatory pressures for greener packaging solutions.

For instance, in April 2024, LyondellBasell and Zhengxin Packaging Co. Ltd announced a collaboration to enhance heat shrink film technology for beverage and tetra pack packaging. Utilizing LyondellBasell's CirculenRecover PE from post-consumer waste, the partnership offers up to 60% recycled content, combining sustainability with high performance to meet growing eco-friendly packaging demands.

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.