Latest Regulatory Trends Impacting the Shrink Plastic Film Market

by Mit K. SEO

The shrink plastic film 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 of 3.5% during the forecast period. The demand for shrink plastic film for beverage multipacks is increasing significantly, as they have various advantages and are cost-effective for the beverage segment.

Key players in this market include Amcor Plc (Switzerland), Coveris Holdings Sa (Austria), Ceisa Semo (France), Clondalkin Group (The Netherlands), RKW (Germany), Berry Global Inc (US), Plastotecnica SpA (Italy), Clearpack group (Singapore), Sarkina (US), Baroda Packaging (India).

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Market Dynamics

Drivers

•             Shipping Friendly

•             Increasing Alcohol Consumption

•             Strong Sealing Capability

•             Less Wasteful

•             Printability

Restraints

•             Competition for Raw Materials

•             Continuous Change in Demands of Customer

•             Reduced Beverage Production in Q2 of 2020 Due To Covid-19 Outbreak

Opportunities

•             Increasing Consumption of Packaged Beverages

•             Emerging Markets

Challenges

•             Stringent Regulations

•             Regular Developments and New Product Launches in the Packaging Industry

Scope of the report

By Application

•             Alcoholic beverages

•             Water

•             Carbonated Soft drinks

•             Other drinks

•             Carbonated soft drinks

•             Other drinks

By Type

•             Unprinted

•             Printed

By Multipack

•             3X2

•             4X2

•             4X3

•             6X3

•             Other multipack sizes

By Application Packaging

•             Can

•             Bottle

•             Brick

By Region

•             North America

•             Europe

•             Asia Pacific

•             South America

•             Rest of the World (RoW)

o             South Africa

o             Middle East

o             Others in Africa

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The shrink plastic film market for beverage multipacks in Europe is estimated to be dominant due to the increasing demand for ready to drink products and on the go beverages that can be consumed anywhere.

There is a significant shift observed in the consumption habits of consumers, which is increasing the demand for carbonated beverages and packaged water.  This has increased the demand for bottled & canned products in the regions, which in turn has augmented the market for shrink plastic film.

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Created on Nov 9th 2020 06:27. Viewed 261 times.

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