Selbyville, Delaware , Jan. 28, 2025 (GLOBE NEWSWIRE) -- Shrink Packaging Market was valued at USD 12.3 billion in 2024 and is projected to be worth USD 26.2 billion by the end of 2034, as per a recent study by Global Market Insights Inc.
A key driver for this growth is the increasing emphasis on sustainability, as consumers and regulators push for more eco-friendly packaging solutions. As the demand for packaging made from recycled materials and with lower carbon emissions grows, businesses adapt to meet these environmental standards. This shift toward sustainable packaging solutions is a significant factor behind the market's expansion, as companies balance eco-consciousness with performance and functionality.
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The shrink packaging market is segmented by material type, including polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), and other materials. Among these, polyethylene (PE) is expected to dominate, reaching USD 10 billion by 2034. PE is favored for its versatility, affordability, and range of uses across various industries. Its lightweight and transparent properties, combined with its flexibility, make it ideal for wrapping and protecting a diverse array of products. The ability of PE shrink films to conform tightly to product shapes, creating secure and tamper-proof seals, has led to its widespread adoption, especially in consumer goods packaging.
Shrink packaging is also categorized by packaging type, which includes primary, secondary, and tertiary packaging. The tertiary packaging segment is set to experience the highest growth rate, with a CAGR exceeding 9% from 2025 to 2034. This growth is largely driven by the rising demand for efficient logistics and bulk transportation. Tertiary packaging ensures that products are securely transported and stored, especially in the growing e-commerce and global trade sectors. Shrink packaging in this category helps protect goods during long-distance shipping, reducing the risk of damage and loss essential for maintaining smooth supply chain operations.
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U.S. shrink packaging market held a significant share of 25% in 2024. The U.S. market is expanding steadily, driven by the increasing demand for efficient packaging solutions in industries such as food and beverage, pharmaceuticals, and e-commerce. The move towards sustainable packaging materials, along with the development of biodegradable shrink films, is further contributing to the market's growth. Companies are focusing on innovative packaging solutions that not only enhance product protection but also align with consumer preferences for more sustainable and eco-friendly options.
Shrink Packaging Market Players
Companies including AEP Industries, Allen Plastic Industries, Amcor, Balcan Innovations, Berry Global, CCL Industries, Coveris Holdings, CP Flexible Packaging, Dow Chemical, Filmsource Packaging, Intertape Polymer Group, Klockner Pentaplast, LyondellBasell Industries, PremiumPack, Sealed Air, Sigma Plastics Group, Smurfit Kappa, Transcendia, Winpak are some firms working in shrink packaging industry.
This shrink packaging market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) & volume (Kilo Tons) from 2022 to 2034, for the following segments:
Market, By Material Type
- Polyethylene (PE)
- Polypropylene (PP)
- Polyvinyl chloride (PVC)
- Others
Market, By Product
- Shrink bags
- Shrink film
- Shrink labels
- Shrink sleeves
- Shrink wrap
Market, By Packaging Type
- Primary packaging
- Secondary packaging
- Tertiary packaging
Market, By End Use Industry
- Consumer goods
- Electronics
- Food & beverage
- Pharmaceuticals & healthcare
- Others
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
