Polyolefin Shrink Film Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Polyolefin Shrink Film Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global polyolefin shrink film market size reached US$ 5.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.6% during 2022-2028.

Polyolefin (POF) shrink film is a chemically inert packaging material manufactured using polymer plastic material. It covers the product and shrinks tightly when heat is applied over it. It is highly durable, exhibits high tensile strength, puncture resistance and visual clarity, due to which it is widely used for packing food products, boxes and bottles. POE shrink film is commonly available in printed and unprinted rolls, tubes and bags. In comparison to the traditionally used materials, they are highly elastic and environment-friendly. As a result, they find extensive applications for the packaging of food and beverages, consumer goods, personal care products, cosmetics and pharmaceuticals.

The growing food and beverages industry and the increasing consumer awareness regarding food safety and protection, represent as the key factors creating a positive outlook for the market. With the changing lifestyles and hectic schedules of the consumers, there is an increasing demand for ready-to-eat (RTE) and packaged food products, which are sealed using POF shrink films. These films are also widely used for the sealing of RTE meals, snacks and frozen meals in quick serving restaurants (QSRs) and cafes. Additionally, various product innovations, such as the development of novel variants with high-gloss finish, improved barrier and airtight sealing properties and ease of printing, are acting as other growth-inducing factors. These variants enhance the aesthetic appeal of the product and aid in improving the effectiveness of the marketing and branding campaigns. Other factors, including the rising expenditure capacities of the consumers, along with extensive research and development (R&D) activities, are anticipated to drive the market growth further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global polyolefin shrink film market report, along with forecasts at the global, regional and country levels from 2023-2028. Our report has categorized the market based on product and end use industry.

Breakup by Product:

General Shrink Film

Cross-Linked Shrink Film

Others



Breakup by End Use Industry:

Food and Beverages

Personal Care and Cosmetics

Pharmaceuticals

Printing and Stationery

Others



Breakup by Region:

North America

United States

Canada

Asia Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Allen Plastic Industries Co. Ltd., Amcor Plc, Berry Global Inc. (Berry Global Group Inc.), Exxon Mobil Corporation, Four Star Plastics, Harwal Group of Companies, Intertape Polymer Group Inc., Pakmarkas UAB, Riverside Paper Co. Inc. (SupplyOne Inc.), Saudi Basic Industries Corporation, Sealed Air Corporation and Syfan USA.

Key Questions Answered in This Report:

How has the global polyolefin shrink film market performed so far and how will it perform in the coming years?

What has been the impact of COVID-19 on the global polyolefin shrink film market?

What are the key regional markets?

What is the breakup of the market based on the product?

What is the breakup of the market based on the end use industry?

What are the various stages in the value chain of the industry?

What are the key driving factors and challenges in the industry?

What is the structure of the global polyolefin shrink film market and who are the key players?

What is the degree of competition in the industry?