Procurement Resource Thumbnail Book Image

Global Shrink Films Industry Report: Country Overview; Recent Events; Value Chain Analysis; Production Process; Cost Structure; Market Dynamics: Drivers & Constraints, Industry Events, Innovations & Trends, SWOT Analysis; Market Analysis; Industry Best Practices: Sourcing Strategy, Procurement Model, Negotiation Levers, Pricing Model, Key Factors Influencing the Quotation; Key Supplier Analysis, 2022-2027

Shrink Films Industry Report by Regional Category Spend, Price Analysis, Key Demand and Price Indicators, and Best Buying Practices


The global Shrink Films market reached a value of about USD 4.4 billion in 2021. The industry is projected to grow at a CAGR of around 5.3% in the forecast period of 2022-2027 to reach a value of about USD 6 billion by 2027.

The global Shrink Films industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The demand for the product from various end-user industries, including packaging, etc., drives the market growth. In the industry report, the key demand indicator is the highest category spender by region—Asia Pacific.

Industry Definition and Segmentation

Shrinkwrap, commonly known as shrink film, is a polymer plastic material, and it shrinks tightly over whatever it is covering when heated. A portable heat gun can provide heat, or the product and film can be sent through a heat tunnel. They have a wide range of applications and are commonly used to wrap food, gift baskets, cartoons, toys, books, soaps, and other items. The Shrink Films industry report comprises segments by application (food, beverages, healthcare, and consumer goods) and region (North America, Europe, Asia Pacific, the Middle East, Africa, and South America).

The Asia Pacific Region is Driving the Growth of the Industry

The Asia Pacific is the largest market due to the millennial generation's growing need for bottled drinking water and fizzy beverages. Polyolefin shrink films are becoming more popular, thanks to the developing packaging and healthcare sectors in nations like China, India, Japan, and South Korea. In addition, China has the world's second-largest packaging industry due to the introduction of customised packaging and the rising demand for packaged consumer products.

The industry is primarily driven by the extensive application of the product in various end-user industries. The product is extensively employed in packaging different food and beverage products. Furthermore, the growing popularity of ready-to-eat meals, frozen food items like meat, fruits and vegetables, etc., augmenting the market growth. Moreover, the demand for bottled water in developed regions also propels industry growth. Other factors bolstering demand in the sector are rising alcohol consumption, increased disposable income, and robust sealing features of the product. In addition, the wide range of properties of the material, such as availability, range of thickness, clarities, strengths, and shrink ratio, is gaining traction. Other characteristics of the product are its low weight and resilience to water, dust, and other elements driving its use in various applications, thus resulting in the industry's growth.

However, the adverse effects of the material on the environment, paired with the availability of other substitutes, are hampering the industry's expansion.

Best Procurement Practices

The global Shrink Films industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major international Shrink Films regions across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

After the film is warmed, it is stretched out to orientate the molecules from their casual model. The film's qualities are established until it is warmed, at which point it shrinks back to its original size. The molecules in a sheet or tube are randomly entangled, coiled, and twisted and have no specific alignment before orientation. The unstructured sections of the chains are straightened out and aligned to the route of direction when a draw force is employed. The molecules will be frozen in this condition if suitable cooling is used until enough heat energy is given to allow the chains to shorten again. On a commercial scale, either a tenter frame or a bubble technique can be used to obtain orientation. Tenterframe technology is used to make several "heat-set" goods, the most popular biaxially orientated polypropylene (BOPP). The bubble process is the second commercial method. A primary tube is made in this technique by blowing or casting it onto an external or internal mandrel. At this time, it's normal to use water to assist cool the principal tube. After cooling, the primary tube is warmed and expanded into a second bubble with air. When the tube is inflated, it is orientated in both directions simultaneously.

Major Demand from the Packaging Industry, Further Propelling the Procurement of Shrink Films

The industry is being propelled by the product's extensive application in the packaging of items during transportation, furthering the product's demand. Furthermore, the rapid development of the fast-moving consumer goods sector, driven by the factors such as increased expenditure on premium and healthier products, is furthering the market's expansion. The growing globalisation has led to the advancement of the e-commerce sector, which drives the need for logistic services. As a result, the packaging industry heavily relies on the product for packaging, boosting sales.

The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Industry Players Mentioned in the Shrink Films Industry Report

  • Amcor Flexibles
  • Berry Global
  • RKW Group
  • Sealed Air Corporation
  • Kureha Corporation

Market Landscape

The polyolefin shrink film market is very fragmented, and the worldwide pre-stretch film market has seen steady expansion thanks to several global businesses. The top players from the Asia-Pacific region have dominated the shrink plastic film market in terms of value and volume.

Key Initiatives by Companies

  • Dow and Plastigaur will launch recycled plastic collation shrink sheets in February 2021. For the first time, Dow's Agility C.E. resin, which is 70% recycled plastic, has been selected for large-scale commercial use. Agility C.E. resin is used by Plastigaur, a prominent Spanish film converter, in their collation shrink film, extensively used in the transportation of cans and PET bottles.
  • Dow signed a memorandum of understanding with Lucro Plastecycle, an Indian recycling firm, in February 2021 to develop and commercialise polyethylene (P.E.) film solutions derived from post-consumer recycled (PCR) plastics in India. This agreement will provide a closed-loop packaging solution to help India establish a circular economy while increasing Dow's circularity portfolio in the Asia Pacific.

1.    Executive Summary
2.    Shrink Films Industry Snapshot

    2.1.    Shrink Films Market Outlook
    2.2.    Shrink Films Industry Analysis by Application
        2.2.1.    Food
        2.2.2.    Beverages
        2.2.3.    Healthcare
        2.2.4.    Consumer Goods
    2.3.    Regional Overview
        2.3.1.    North America
        2.3.2.    Europe
        2.3.3.    Asia Pacific 
        2.3.4.    Latin America
        2.3.5.    Middle East & Africa
3.    Impact of Recent Events 
4.    Shrink Films Value Chain Analysis 
5.    Shrink Films Production Process
6.    Trade Analysis
7.    Major Risk Factors in Sourcing
8.    Shrink Films Cost Structure
9.    Shrink Films Price Analysis 
10.    Key Demand Indicator Analysis
11.    Key Price Indicator Analysis
12.    Shrink Films Market Dynamics

    12.1.    Drivers & Constraints
    12.2.    Industry Events 
    12.3.    Innovations & Trends
    12.4.    SWOT Analysis
    12.5.    Porter’s Five Forces
        12.5.1.    Buyer Power
        12.5.2.    Supplier Power
        12.5.3.    Threat of New entrants
        12.5.4.    Threat of Substitutes
        12.5.5.    Industry Rivalry
13.    Feedstock Market Analysis
    13.1.    Market Overview
    13.2.    Price Analysis 
14.    Industry Best Practices
    14.1.    Sourcing Strategy
    14.2.    Procurement Model
    14.3.    Contract Structure
    14.4.    Negotiation Levers
    14.5.    Pricing Model
    14.6.    Key Factors Influencing the Quotation 
15.    Key Supplier Analysis
    15.1.    Amcor Plc
    15.2.    Berry Global Inc.
    15.3.    RKW Group
    15.4.    Sealed Air Corporation
    15.5.    Coveris

Request Sample
Key Questions Answered in the Report

The global Shrink Films market size was valued at USD 4.4 billion in 2021.

As per the end-use provided, the food segment is anticipated to lead the market between 2022 and 2027.

The significant demand for the material in the packaging of various food and beverage products is one of the essential drivers of the Shrink Films market growth.

Amcor Flexibles, Berry Global, RKW Group, Sealed Air Corporation, Kureha Corporation, Winpak Ltd., Flexopack S.A., and Coveris Holdings S.A. are some of the leading companies in the market.

The Asia Pacific region of the Shrink Films industry holds a significant share in the market.

Analyst Review

The global Shrink Films market attained a value of USD 4.4 billion in 2021, driven by the extensive application of the product in various end-user industries. The product is extensively employed in the packaging of different food and beverage products like ready-to-eat meals, frozen food items like meat, fruits, and vegetables, and bottled water, thus, resulting in increased market growth. In addition, the wide range of properties of the material such as availability, range of thickness, clarities, strengths, and shrink ratio, low weight, and resilience to water, dust, and other elements are driving its use in a variety of applications thus resulting in the industry's growth. Aided by the growing use of the product in the packaging of items while transportation, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 5.3%. The market is projected to reach USD 6 billion by 2027. Some of the leading players in the industry are Amcor Flexibles, Berry Global, RKW Group, Sealed Air Corporation, Kureha Corporation, Winpak Ltd., Flexopack S.A., and Coveris Holdings S.A.

Procurement Resources' detailed research approach explores deep into the industry, encompassing the macro and micro aspects of the industry. Its team of experts uses cutting-edge analytical tools and their expertise, thus, delivering its customers with market insights that are accurate and actionable and help them remain ahead of their competition.

Compare test & Choose the Right Report Version for You

Why Procurement Resource?

RIGHT PEOPLE

At Procurement Resource our analysts are selected after they are assessed thoroughly on having required qualities so that they can work effectively and productively and are able to execute projects based on the expectations shared by our clients. Our team is hence, technically exceptional, strategic, pragmatic, well experienced and competent.

RIGHT METHODOLOGY

We understand the cruciality of high-quality assessments that are important for our clients to take timely decisions and plan strategically. We have been continuously upgrading our tools and resources over the past years to become useful partners for our clientele. Our research methods are supported by most recent technology, our trusted and verified databases that are modified as per the needs help us serve our clients effectively every time and puts them ahead of their competitors.

RIGHT PRICE

Our team provides a detailed, high quality and deeply researched evaluations in competitive prices, that are unmatchable, and demonstrates our understanding of our client’s resource composition. These reports support our clientele make important procurement and supply chains choices that further helps them to place themselves ahead of their counterparts. We also offer attractive discounts or rebates on our forth coming reports.

RIGHT SUPPORT

Our vision is to enable our clients with superior quality market assessment and actionable evaluations to assist them with taking timely and right decisions. We are always ready to deliver our clients with maximum results by delivering them with customised suggestions to meet their exact needs within the specified timeline and help them understand the market dynamics in a better way.

Similar Reports
Global Artificial Intelligence Industry Report: Analysis and Forecast 2022-2027

Email Delivery   Price: $ 999.00

The global Artificial Intelligence market reached a value of about USD 192 Billion in 2021. The industry is projected to grow at a CAGR of around 23% in the forecast period of 2022-2027 to reach a value of about USD 664.86 Billion by 2027.

Read More
Global Nutmeg Industry Report: Analysis and Forecast 2022-2027

Email Delivery   Price: $ 999.00

The global nutmeg market reached a value of about 130 thousand tonnes in 2021. The industry is further expected to grow at a CAGR of about 6% in the forecast period of 2022-2027 to reach a value of around 180 thousand tonnes by 2027.

Read More
Global HEOR Service Industry Report: Analysis and Forecast 2022-2027

Email Delivery   Price: $ 999.00

The global HEOR market reached a value of about USD 1364.3 million in 2021. The industry is further expected to grow at a CAGR of about 12.81% in the forecast period of 2022-2027 to reach a value of around USD 2779.2 million by 2027.

Read More

NEWSLETTER

Get latest News About Procurement Resource
Subscribe for news