Shrink Plastic Film Market Growth Factors, Ongoing Trends and Key Players 2025
by Mit K. SEOThe shrink plastic
film market for beverage multipacks market for beverage multipacks is projected
to grow at a CAGR of 3.5% during the forecast period
According to MarketsandMarkets, the global shrink
plastic film market for beverage multipacks market for beverage
multipacks size is estimated to be valued at USD 2.5 billion in 2020 and
projected to reach USD 3.0 billion by 2025, recording a CAGR 3.5%. Factors such
as the growing concern of hygiene and the safety of beverages are going to be
the driving factor for the shrink plastic film market for beverage multipacks.
Especially post-COVID, the concern for safety and hygiene of products has been
increased among both the consumers and manufacturers, which is creating a rise
in the demand for shrink plastic film market for beverage multipacks in the market.
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By type, the
unprinted segment is projected to grow at the highest CAGR during the forecast
period
The unprinted type of shrink film is the cost-effective
option as compared to the printed one. The unprinted shrink plastic films are
low in cost and more versatile uses. Shrink plastic films are used for securing
the packs. The transparent sheets provide a better look at the product inside.
It is also affordable for SMEs, thereby is having popularity in the developing
markets. The unprinted shrink plastic films are used for the products made for
transportation purposes rather than retail shelf display. It secures the
products from getting damaged and contaminated from foreign sources.
By multipack size,
the 4x2 size segment is estimated to account for the largest share
The 4x2 size is most common as the demand for cans and
bottles for soft drinks and beers are increasing. It is most favorable for
transportation also. Many high end, craft beer, and soft drinks use this
arrangement to sell the products, where consumers are likely to buy in bulk.
Therefore, the demand for 4x2 size of shrink wrap is there. With the increase
in the demand for beverages, companies are packing higher volume; therefore,
the size 4x3 is fastest growing in shrink plastic films market for beverage
multipacks.
The Asia Pacific region is projected to grow
at the highest CAGR during the forecast period
The increase in the production of packaging applications in
such a way has led to a rise in the market potential for shrink plastic films
for packaging. The increase in the purchasing power of millennial consumers has
added the potential in the market, too, for shrink plastic films. Developed
markets such as North America and Western Europe are becoming mature, which has
led to faster growth in emerging markets such as Asia Pacific. Furthermore, the
changing consumer preference in the food & beverage industry has
contributed to the growth of the shrink plastic film market for beverage multipacks
market in this region.
The shrink plastic film market for beverage multipacks
market is segmented region-wise, with a detailed analysis of each region. These
regions include Asia Pacific, North America, Europe, South America, and RoW
(South Africa, the Middle East, and Others in Africa).
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Leading players
profiled in this report include the following:
·
Amcor Plc (Switzerland)
·
Coveris Holdings Sa (Austria)
·
Ceisa Semo (France)
·
Clondalkin Group (The Netherlands)
·
RKW Group (Germany)
·
Berry Global Inc (US)
Research Coverage
This report segments the shrink plastic film market for
beverage multipacks market based on type, application, multipack size,
container type, and region. In terms of insights, this research report focuses
on various levels of analyses—competitive landscape, pricing insights, end-use
analysis, and company profiles—which together comprise and discuss the basic
views on the emerging & high-growth segments of the shrink plastic film
market for beverage multipacks market, high-growth regions, countries, industry
trends, drivers, restraints, opportunities, and challenges.
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Created on Mar 2nd 2021 05:30. Viewed 226 times.