Shrink Packaging Market
Shrink Packaging Market Forecasts to 2030 - Global Analysis By Product (Hoods, Labels & Sleeves and Films & Wraps), Material (Low Density Polyethylene, Polyolefin, Ethylene-vinyl Alcohol and Polyvinyl Chloride), Application (Beverages, Food Packaging, Paper & Textile Products and Other Applications) and By Geography
According to Stratistics MRC, the Global Shrink Packaging Market is accounted for $11.92 billion in 2024 and is expected to reach $19.35 billion by 2030 growing at a CAGR of 8.4% during the forecast period. Shrink packaging is a method of packaging where a product is enclosed in a plastic film which, when subjected to heat, shrinks tightly around the product, conforming to its shape. The process typically involves placing the product in the film and then using heat to shrink the film tightly around the product, creating a snug and secure package. The primary materials used in shrink packaging are polyolefin and PVC (polyvinyl chloride) films. These films are chosen based on factors such as product size, shape, and desired level of protection.
Market Dynamics:
Driver:
Rising demand for sustainable packaging solutions
The rising demand for sustainable packaging solutions has spurred innovation in shrink packaging techniques. Shrink packaging involves enveloping products in a plastic film that shrinks tightly around them when heated, providing protection and stability during transportation and storage. Traditionally, this method utilized plastics that posed environmental challenges due to their non-biodegradable nature. Advancements in materials science and packaging technology have led to the development of eco-friendly shrink packaging options. These alternatives use biodegradable films or recyclable materials, reducing the environmental footprint associated with conventional shrink wrapping.
Restraint:
Cost considerations
Cost considerations often hinder the adoption of shrink packaging market. The initial investment in equipment and materials required for shrink packaging can be significant, especially for small businesses or those with limited capital. The machinery needed for heat shrinking films and the cost of the films themselves add to the expenses. However, shrink packaging may require specialized training for personnel to operate the equipment efficiently, which further increases costs. These elements are hindering the market growth.
Opportunity:
Increasing popularity in retail sector
The increasing popularity of shrink packaging in the retail sector can be attributed to several factors that enhance its appeal and effectiveness. Shrink packaging, typically using materials like polyethylene or PVC, offers retailers a cost-effective way to protect products from damage, tampering, and spoilage during transportation and display. It provides a secure and tightly sealed covering that not only safeguards items but also enhances their visual appeal on store shelves, contributing to a more attractive presentation. Moreover, shrink packaging is versatile and can conform closely to the shape of various products, reducing wasted space and improving storage efficiency.
Threat:
Compatibility issues
Compatibility issues in shrink packaging typically arise when the materials used—such as the shrink film and the product being packaged—do not interact well during the shrinking process. These issues can manifest in several ways: inadequate shrinkage, uneven shrinkage, or damage to the product or packaging due to excessive heat or improper sealing. For instance, if the shrink film used is not suited to the shape or material of the product, it may not shrink uniformly or may tear during the process. Similarly, variations in the heat distribution or sealing techniques can lead to inconsistent results, affecting the overall quality and appearance of the shrink-wrapped product.
Covid-19 Impact:
The Covid-19 pandemic significantly impacted the shrink packaging industry. Initially, the global disruptions in supply chains caused shortages of raw materials, leading to price fluctuations and delays in production. As consumer behavior shifted towards online shopping and e-commerce surged, there was a heightened demand for efficient packaging solutions that could protect goods during transit while also ensuring product safety and hygiene. The emphasis on contactless delivery and hygiene protocols further boosted the adoption of shrink packaging in various sectors such as food and beverage, pharmaceuticals, and personal care products.
The Labels & Sleeves segment is expected to be the largest during the forecast period
Labels & Sleeves segment is expected to be the largest during the forecast period. Labels and sleeves are applied to products before heat shrinking, creating a tight, protective seal that enhances product visibility and branding. This method allows for vibrant graphics, detailed product information, and promotional messaging to be displayed prominently, making products more attractive to consumers on store shelves. Moreover, shrink sleeves conform tightly to the shape of the product, providing a tamper-evident seal and ensuring product integrity during transit and storage.
The Food Packaging segment is expected to have the highest CAGR during the forecast period
Food Packaging segment is expected to have the highest CAGR during the forecast period. In the realm of food packaging, the evolution of shrink packaging represents a significant enhancement. Shrink packaging involves encasing food products in a protective plastic film that shrinks tightly around them when heat is applied, conforming to the shape and size of the item. This method not only provides a secure barrier against external contaminants and moisture but also enhances product visibility and presentation on store shelves. Recent advancements in shrink packaging technology have focused on improving sustainability by utilizing thinner films that maintain strength and barrier properties while reducing material usage.
Region with largest share:
North America region commanded the largest share of the market over the extrapolated period. As these regions undergo economic expansion, there is an increasing demand for efficient and cost-effective packaging solutions to support the burgeoning manufacturing and retail sectors across the region. Shrink packaging offers advantages such as product protection, tamper resistance, and enhanced shelf appeal, which are particularly appealing in competitive markets like North America. Additionally, the rise of e-commerce and online retail platforms has further fueled the regional need for robust packaging solutions to ensure products remain intact during shipping and storage.
Region with highest CAGR:
Europe region is poised to hold substantial growth during the forecast period. Government regulations in Europe are playing a pivotal role in enhancing the shrink packaging sector. These regulations primarily focus on sustainability, product safety and reducing environmental impact across the region. By enforcing stringent guidelines on materials used in shrink packaging and promoting recyclability, European governments are fostering innovation and driving manufacturers towards more eco-friendly solutions. Moreover, regulations that mandate the use of biodegradable materials or the reduction of plastic content in packaging are prompting companies to invest in research and development of alternative materials and technologies throughout the region.
Key players in the market
Some of the key players in Shrink Packaging market include Amcor plc, Avery Dennison Corporation, Bemis Company, Inc, Berry Global Inc, CCL Industries, Cosmo Films Ltd, DS Smith Plc, Mondi Group, Sealed Air Corporation, Smurfit Kappa Group and Transcontinental Inc.
Key Developments:
In November 2023, Packaging consultancy and manufacturer Duo and Danish plastic recycler Plastix announced the launch of shrink film for food & beverage outer packaging by utilizing Plastix’s Oceanix recycled plastic, which is developed from 98% maritime waste such as fishing nets and ropes.
In January 2023, Gunze Limited announced the launch of an eco-friendly “GEOPLAS® HCT3” heat-shrinkable film manufactured with recycled resin. The films are developed with polystyrene/polyethylene terephthalate multi-layered material and by using 30% chemically recycled raw materials with the mass-balance approach.
In April 2022, PepsiCo Germany declared the launch of a sustainable shrink film. The packaging films developed for beverage cans and bottles are manufactured from 50% rLDPE and one-tenth recycled yellow bag packaging waste for the first time.
Products Covered:
• Hoods
• Labels & Sleeves
• Films & Wraps
Materials Covered:
• Low Density Polyethylene
• Polyolefin
• Ethylene-vinyl Alcohol
• Polyvinyl Chloride
Applications Covered:
• Beverages
• Food Packaging
• Paper & Textile Products
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Shrink Packaging Market, By Product
5.1 Introduction
5.2 Hoods
5.3 Labels & Sleeves
5.4 Films & Wraps
6 Global Shrink Packaging Market, By Material
6.1 Introduction
6.2 Low Density Polyethylene
6.3 Polyolefin
6.4 Ethylene-vinyl Alcohol
6.5 Polyvinyl Chloride
7 Global Shrink Packaging Market, By Application
7.1 Introduction
7.2 Beverages
7.3 Food Packaging
7.4 Paper & Textile Products
7.5 Other Applications
8 Global Shrink Packaging Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Amcor plc
10.2 Avery Dennison Corporation
10.3 Bemis Company, Inc
10.4 Berry Global Inc
10.5 CCL Industries
10.6 Cosmo Films Ltd
10.7 DS Smith Plc
10.8 Mondi Group
10.9 Sealed Air Corporation
10.10 Smurfit Kappa Group
10.11 Transcontinental Inc
List of Tables
1 Global Shrink Packaging Market Outlook, By Region (2022-2030) ($MN)
2 Global Shrink Packaging Market Outlook, By Product (2022-2030) ($MN)
3 Global Shrink Packaging Market Outlook, By Hoods (2022-2030) ($MN)
4 Global Shrink Packaging Market Outlook, By Labels & Sleeves (2022-2030) ($MN)
5 Global Shrink Packaging Market Outlook, By Films & Wraps (2022-2030) ($MN)
6 Global Shrink Packaging Market Outlook, By Material (2022-2030) ($MN)
7 Global Shrink Packaging Market Outlook, By Low Density Polyethylene (2022-2030) ($MN)
8 Global Shrink Packaging Market Outlook, By Polyolefin (2022-2030) ($MN)
9 Global Shrink Packaging Market Outlook, By Ethylene-vinyl Alcohol (2022-2030) ($MN)
10 Global Shrink Packaging Market Outlook, By Polyvinyl Chloride (2022-2030) ($MN)
11 Global Shrink Packaging Market Outlook, By Application (2022-2030) ($MN)
12 Global Shrink Packaging Market Outlook, By Beverages (2022-2030) ($MN)
13 Global Shrink Packaging Market Outlook, By Food Packaging (2022-2030) ($MN)
14 Global Shrink Packaging Market Outlook, By Paper & Textile Products (2022-2030) ($MN)
15 Global Shrink Packaging Market Outlook, By Other Applications (2022-2030) ($MN)
16 North America Shrink Packaging Market Outlook, By Country (2022-2030) ($MN)
17 North America Shrink Packaging Market Outlook, By Product (2022-2030) ($MN)
18 North America Shrink Packaging Market Outlook, By Hoods (2022-2030) ($MN)
19 North America Shrink Packaging Market Outlook, By Labels & Sleeves (2022-2030) ($MN)
20 North America Shrink Packaging Market Outlook, By Films & Wraps (2022-2030) ($MN)
21 North America Shrink Packaging Market Outlook, By Material (2022-2030) ($MN)
22 North America Shrink Packaging Market Outlook, By Low Density Polyethylene (2022-2030) ($MN)
23 North America Shrink Packaging Market Outlook, By Polyolefin (2022-2030) ($MN)
24 North America Shrink Packaging Market Outlook, By Ethylene-vinyl Alcohol (2022-2030) ($MN)
25 North America Shrink Packaging Market Outlook, By Polyvinyl Chloride (2022-2030) ($MN)
26 North America Shrink Packaging Market Outlook, By Application (2022-2030) ($MN)
27 North America Shrink Packaging Market Outlook, By Beverages (2022-2030) ($MN)
28 North America Shrink Packaging Market Outlook, By Food Packaging (2022-2030) ($MN)
29 North America Shrink Packaging Market Outlook, By Paper & Textile Products (2022-2030) ($MN)
30 North America Shrink Packaging Market Outlook, By Other Applications (2022-2030) ($MN)
31 Europe Shrink Packaging Market Outlook, By Country (2022-2030) ($MN)
32 Europe Shrink Packaging Market Outlook, By Product (2022-2030) ($MN)
33 Europe Shrink Packaging Market Outlook, By Hoods (2022-2030) ($MN)
34 Europe Shrink Packaging Market Outlook, By Labels & Sleeves (2022-2030) ($MN)
35 Europe Shrink Packaging Market Outlook, By Films & Wraps (2022-2030) ($MN)
36 Europe Shrink Packaging Market Outlook, By Material (2022-2030) ($MN)
37 Europe Shrink Packaging Market Outlook, By Low Density Polyethylene (2022-2030) ($MN)
38 Europe Shrink Packaging Market Outlook, By Polyolefin (2022-2030) ($MN)
39 Europe Shrink Packaging Market Outlook, By Ethylene-vinyl Alcohol (2022-2030) ($MN)
40 Europe Shrink Packaging Market Outlook, By Polyvinyl Chloride (2022-2030) ($MN)
41 Europe Shrink Packaging Market Outlook, By Application (2022-2030) ($MN)
42 Europe Shrink Packaging Market Outlook, By Beverages (2022-2030) ($MN)
43 Europe Shrink Packaging Market Outlook, By Food Packaging (2022-2030) ($MN)
44 Europe Shrink Packaging Market Outlook, By Paper & Textile Products (2022-2030) ($MN)
45 Europe Shrink Packaging Market Outlook, By Other Applications (2022-2030) ($MN)
46 Asia Pacific Shrink Packaging Market Outlook, By Country (2022-2030) ($MN)
47 Asia Pacific Shrink Packaging Market Outlook, By Product (2022-2030) ($MN)
48 Asia Pacific Shrink Packaging Market Outlook, By Hoods (2022-2030) ($MN)
49 Asia Pacific Shrink Packaging Market Outlook, By Labels & Sleeves (2022-2030) ($MN)
50 Asia Pacific Shrink Packaging Market Outlook, By Films & Wraps (2022-2030) ($MN)
51 Asia Pacific Shrink Packaging Market Outlook, By Material (2022-2030) ($MN)
52 Asia Pacific Shrink Packaging Market Outlook, By Low Density Polyethylene (2022-2030) ($MN)
53 Asia Pacific Shrink Packaging Market Outlook, By Polyolefin (2022-2030) ($MN)
54 Asia Pacific Shrink Packaging Market Outlook, By Ethylene-vinyl Alcohol (2022-2030) ($MN)
55 Asia Pacific Shrink Packaging Market Outlook, By Polyvinyl Chloride (2022-2030) ($MN)
56 Asia Pacific Shrink Packaging Market Outlook, By Application (2022-2030) ($MN)
57 Asia Pacific Shrink Packaging Market Outlook, By Beverages (2022-2030) ($MN)
58 Asia Pacific Shrink Packaging Market Outlook, By Food Packaging (2022-2030) ($MN)
59 Asia Pacific Shrink Packaging Market Outlook, By Paper & Textile Products (2022-2030) ($MN)
60 Asia Pacific Shrink Packaging Market Outlook, By Other Applications (2022-2030) ($MN)
61 South America Shrink Packaging Market Outlook, By Country (2022-2030) ($MN)
62 South America Shrink Packaging Market Outlook, By Product (2022-2030) ($MN)
63 South America Shrink Packaging Market Outlook, By Hoods (2022-2030) ($MN)
64 South America Shrink Packaging Market Outlook, By Labels & Sleeves (2022-2030) ($MN)
65 South America Shrink Packaging Market Outlook, By Films & Wraps (2022-2030) ($MN)
66 South America Shrink Packaging Market Outlook, By Material (2022-2030) ($MN)
67 South America Shrink Packaging Market Outlook, By Low Density Polyethylene (2022-2030) ($MN)
68 South America Shrink Packaging Market Outlook, By Polyolefin (2022-2030) ($MN)
69 South America Shrink Packaging Market Outlook, By Ethylene-vinyl Alcohol (2022-2030) ($MN)
70 South America Shrink Packaging Market Outlook, By Polyvinyl Chloride (2022-2030) ($MN)
71 South America Shrink Packaging Market Outlook, By Application (2022-2030) ($MN)
72 South America Shrink Packaging Market Outlook, By Beverages (2022-2030) ($MN)
73 South America Shrink Packaging Market Outlook, By Food Packaging (2022-2030) ($MN)
74 South America Shrink Packaging Market Outlook, By Paper & Textile Products (2022-2030) ($MN)
75 South America Shrink Packaging Market Outlook, By Other Applications (2022-2030) ($MN)
76 Middle East & Africa Shrink Packaging Market Outlook, By Country (2022-2030) ($MN)
77 Middle East & Africa Shrink Packaging Market Outlook, By Product (2022-2030) ($MN)
78 Middle East & Africa Shrink Packaging Market Outlook, By Hoods (2022-2030) ($MN)
79 Middle East & Africa Shrink Packaging Market Outlook, By Labels & Sleeves (2022-2030) ($MN)
80 Middle East & Africa Shrink Packaging Market Outlook, By Films & Wraps (2022-2030) ($MN)
81 Middle East & Africa Shrink Packaging Market Outlook, By Material (2022-2030) ($MN)
82 Middle East & Africa Shrink Packaging Market Outlook, By Low Density Polyethylene (2022-2030) ($MN)
83 Middle East & Africa Shrink Packaging Market Outlook, By Polyolefin (2022-2030) ($MN)
84 Middle East & Africa Shrink Packaging Market Outlook, By Ethylene-vinyl Alcohol (2022-2030) ($MN)
85 Middle East & Africa Shrink Packaging Market Outlook, By Polyvinyl Chloride (2022-2030) ($MN)
86 Middle East & Africa Shrink Packaging Market Outlook, By Application (2022-2030) ($MN)
87 Middle East & Africa Shrink Packaging Market Outlook, By Beverages (2022-2030) ($MN)
88 Middle East & Africa Shrink Packaging Market Outlook, By Food Packaging (2022-2030) ($MN)
89 Middle East & Africa Shrink Packaging Market Outlook, By Paper & Textile Products (2022-2030) ($MN)
90 Middle East & Africa Shrink Packaging Market Outlook, By Other Applications (2022-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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