Press release
Shrink Packaging Market 2018 Expected to Grow at a CAGR of 4.8% with Deufol SE, Dow Chemical Company, Amcor Ltd, Bonset America Corporation and Other key Players
MarketResearchFuture.com added New Report Named “Shrink Packaging Market 2018: Global Industry Analysis, Market Growth and Opportunity Assessment, Segmentation by Material (Linear Low Density Polyethylene (LLDPE), Low Density Polyethylene (LDPE), Poly vinyl chloride (PVC) and others), by Product (Hoods, Labels & Sleeves, Wrap, and Other), by Application (Food Packaging, Beverages, Paper & Textile Products, and Others) and By Region | Outlook to 2023” to its Database.Global shrink packaging market is expected to grow at a CAGR of 4.8% during the forecast period.
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Global Shrink Packaging Market - Overview
The global shrink packaging market is a very dynamic market and is expected to witness decent growth over the forecast period. The growth of market is enhanced by factors such as amplified consumption of meat and poultry and improved government policies regarding food safety. However, stringent regulations on packaging material waste and recycling is expected to hinder the growth of the shrink packaging market.
The meat consumption has constantly seen rise in the U.S., European Union, and developed world. There is seen a swing towards poultry, and red meat. This represents the major proportion of meat consumed in the U.S. The demand for meat in developing countries remains moderate as the production and consumption of meat surges with swelling disposable income. There is seen a change in the dietary pattern in developing countries which is noticeable due to the high meat consumption. This drives the demand of packaging technology for the meat, poultry and seafood packaging which is a growing industry that utilizes the shrink packaging.
With the increasing acceptance of convenience shopping, the retail sector is mushrooming across the globe. The retail sector is flourishing, owing to factors such as positive demographics, rising consumer incomes and real estate developments, particularly the emergence of new and bigger shopping malls. With the emergence of consumerism, the retailer has to face a more knowledgeable and demanding consumer. This has elevated the demand for packaging across the fruits, vegetables, poultry, and meat products.
There is seen an intensifying role of government to ensure food safety. Government agencies are accountable for setting food safety standards, directing inspections, safeguarding the standards and making sure they are met, and also upholding a strong enforcement program to deal with those who do not obey with standards. The Food Safety Modernization Act (FSMA), enables the Food and Drug Administration (FDA) to guard public health by consolidation the food safety system. This also includes packaging and product information. Such policies push the demand for shrink packaging across the food industry for features such as extended shelf life, retaining taste, nutrition, and color along with other additional benefits.
Key Players
The prominent players in the Shrink packaging market include Deufol SE (Germany), Dow Chemical Company (U.S.), Aakriti Packaging (India), Amcor Ltd (Australia), Bonset America Corporation (U.S.), American Eagle Packaging Corporation (U.S), Bemis Company, Inc. (U.S.), Berry Global, Inc (U.S.), Printpack Incorporated (U.S.), and others.
Segmentation & Regional Analysis
On the basis of regions, global shrink packaging market is segmented as North America, Europe, Asia-Pacific and Rest of the World (RoW). Asia-Pacific dominates the global shrink packaging market. It is expected to be the fastest growing region for the market. Rapid growth in food and beverage industry in this region driving the growth of the market. Increasing demand for consumer goods in the region mainly due to high population is also fuelling the growth of the market. Additionally, availability of raw materials and low labor cost are the factors have the positive influence on the growth of the market. North America is also expected to contribute significantly during the forecast period. Increased consumption of beverages fuelling the growth of the market.
Global shrink packaging market has been segmented based on material, product, application and region. On the basis of material, the market is segmented as Linear Low Density Polyethylene (LLDPE), Low Density Polyethylene (LDPE), Poly vinyl chloride (PVC). Low Density Polyethylene dominates the material segment of the market. Majority of shrink film is LDPE. LLDPE is expected to be the fastest growing material segment. PVC is a dense material. It is considered to be a common material in India, when clarity is an important selection criterion, particularly for consumer packaging. This is because it is relatively strong, inexpensive and has a good shrink ratio. Based on product, shrink film hoods are expected to register highest growth rate. The growth is expected to be driven by increasing demand for hoods in industrial packaging and consumer goods packaging. On the basis of applications, the market is segmented as food packaging, beverages, paper & textile products, and others. Beverages segment dominates the application segment of the market. Increased consumption of beverages across the globe driving the demand of beverages.
Hence, global shrink packaging market is expected to grow at a CAGR of 4.8% during the forecast period.
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The report for Global Shrink Packaging Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Product Analysis
• Product matrix which gives a detailed comparison of the market for different recycled product types
Additional Information
• Regulatory Landscape
• Pricing Analysis
• Macroeconomic Indicators
Geographic Analysis
• Geographical analysis across 15 countries
Company Information
• Profiling of 10 key market players
• In-depth analysis including SWOT analysis, and strategy information of related to report title
• Competitive landscape including emerging trends adopted by major companies
Brief TOC :
1. Executive Summary
2. Research Methodology
3. Market Dynamics
4. Global Market, By Packaging Type
5. Global Market, By Technology
6. Global Market, By Application
7. Global Market, By End-user
8. Regional Market Analysis
9. Competitive Analysis
10. Conclusion
11. List Of Tables
12. List Of Figures
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Industrials.
MRFR team have supreme objective to provide the optimum quality market research and intelligence Industrials to our clients. Our market research studies by Components, Application, Adhesive Tapes and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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