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Ongoing replacement of rigid packaging with flexible packaging owing to key functional benefits including cost efficiency, resalable closure, barrier resistance, and lightweight qualities will have positive impact on product demand. Expansion in E commerce industry owing to its high conveniences along with well-developed logistic infrastructure will further enhance market growth.
Rapid globalization has led to rapid surge in import and exports of business resulted in development of large supply chain, increased role of logistics, supported by high adoption of flexible packaging to optimize packaging systems, will have positive impact on product demand. Surging food processing industry supported by growing product demand in packaging industry will act as a key driving factor towards industry growth. Among various products of flexible packaging shrink films holds a major share throughout the supply chain, thus propelling product demand.
The report analyses the global shrink plastic films market based on material, application and geography.
Various materials studied are segmented into polyethylene, polyolefin, and polyvinyl chloride. Rising demand for polyvinyl based films owing to wide application in secondary packaging will accelerate market growth. Application of advanced technologies for manufacturing improved packaging products is expected to further drive the demand.
Various application considered in this study includes food & beverage, pharmaceutical, industrial packaging, consumer goods. Food & beverage dominates shrink films market by application owing to high consumption of ready to eat and processed foods. Surge in food & beverage industry backed by rise in purchase ability along with availability of products in varied form will favour product demand in coming years. Growing demand for such products for storage and transportation of retail and bulk beverages will further accelerate product demand.
The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. Asia Pacific hold largest share in shrink films market and will continue its dominance in coming years. Expanding end user industries such as food & beverage, consumer goods, packaging, and pharmaceutical industry will promote product demand in forecast timeframe. Shifting consumption pattern towards alcoholic beverage supported by growing demand for ready to drink fruit juices in food & beverage packaging sector will accelerate product demand. Huge investments supported by evolving E Commerce industry has led to rise in shrink film demand in this region which will further enhance market growth.
The key competitors of this market Berry Plastics Corporation,AEP Industries Inc., Bemis Company Inc.,Sigma Plastics Group, Coveris Holdings S.A., AAKRITI Packaging, Bollore Inc., Allied Global Plastics Pvt. Ltd., AmTopp Films, Inc.,Dow Chemical, Exxon Mobil Chemical, Eurofilms Extrusion Ltd., WW Grainger Inc., Sealed Air Corporation, LyondellBasell Industries Holdings B.V., Clondalkin Group Holdings Bv, Ceisa Packaging Sas, Plastotecnica Spa, and RKW SE.
The report analyses the global shrink plastic films market based on material, application and geography. Various materials studied are segmented into polyethylene, polyolefin, and polyvinyl chloride. Various application considered in this study includes food & beverage, pharmaceutical, industrial packaging, consumer goods. The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. North America comprises of U.S., Canada and Mexico. Whereas, Europe covers UK, France, Germany, Italy, Spain and Rest of Europe. The key countries included under Asia Pacific are China, India, Japan, Australia and Rest of Asia Pacific. The Rest of the world includes Latin America and Middle East & Africa.
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