Portland, OR, Oct. 27, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global shrink film market was estimated at $4.7 billion in 2021 and is expected to hit $8.0 billion by 2031, registering a CAGR of 5.4% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market. The report is exclusively meant to help the readers with a comprehensive valuation of industry analysis and trends.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $4.7 Billion |
| Market Size in 2031 | $8.0 Billion |
| CAGR | 5.4% |
| No. of Pages in Report | 538 |
| Segments Covered | Packaging Application, End-use, Material Type, Thickness, and Region. |
| Drivers | Increase in ready-to-eat food products in the developed and developing countries |
| Opportunities | Developments in the healthcare and pharmaceutical manufacturing industries where shrink films are used for packing healthcare and medicine products |
| Restraints | Rise in use of bio-based food packaging |
Covid-19 Scenario-
- Surge in the demand for fast food and increase in awareness among people regarding the importance of proper packaging of food materials during the outbreak impacted the global shrink films market positively.
- This trend is on the go even after the pandemic is almost gone.
The global shrink film market is analyzed across packaging application, end-use, material type, thickness, and region. The report takes in a detailed analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
By packaging application, the labels segment accounted for nearly half of the total market revenue in 2021, and is expected to dominate by 2031. The wraps segment, however, would project the fastest CAGR of 5.8% throughout the forecast period.
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By end use, the beverages segment garnered nearly one-third of the total market revenue in 2021, and is expected to dominate by 2031. The electronics and electricals segment, nonetheless, would project the fastest CAGR of 6.2% throughout the forecast period.
Based on material type, the polyethylene segment held more than half of the total market revenue in 2021, and is expected to dominate by 2031. The others segment, simultaneously, would cite the fastest CAGR of 6.5% throughout the forecast period.
Based on region, the market across Asia-Pacific generated nearly half of the total market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The same region would also showcase the fastest CAGR of 5.8% during the forecast period. The other regions studied in the report include LAMEA, North America, and Europe.
The key market players analyzed in the global shrink film market report include Sealed Air Corporation, SYFAN USA, Clysar, Bollore Group, Winpak Ltd., Flexopack S.A., Crawford Packaging, Coveris Holdings S.A., Intertape Polymer Group Inc., PREMIUMPACK GmbH, Schur Flexibles Group, Kuplast Matejka Kumar S.P., Kureha Corporation, Buergofol GmbH, and Atlantis-Pak Co. Ltd. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
