Shrink Film for Beverage Multipacks Market Valued at USD 1,410.42 Million in 2024, Expected to Reach USD 2,718 Million by 2034 | CAGR 6.78%

The global shrink film for beverage multipacks market was valued at USD 1,410.42 million in 2024 and is projected to reach USD 2,718 million by 2034, growing at a CAGR of 6.78% between 2025 and 2034. The market growth is driven by increasing demand for cost-effective and eco-friendly packaging, rising consumption of beverages, and advancements in recyclable and sustainable film materials.

Shrink films - also known as shrink wraps - are versatile polymer materials used to package and protect multipacks of beverages, including alcoholic and non-alcoholic drinks. By applying heat, these films tightly wrap products, offering benefits such as clarity, durability, resistance to contaminants, and superior product protection.

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Key Insights

Market Size (2024): USD 1,410.42 Million

Forecast Value (2034): USD 2,718 Million

CAGR (2025-2034): 6.78%

Leading Application: Water & Carbonated Soft Drinks

Top Type: Unprinted Shrink Film

Leading Region: North America

Market Drivers

1. Growth in Beverage Multipacks

The rise of ready-to-drink beverages and fruit-based drinks has significantly increased the consumption of beverage multipacks. Multipacks provide cost efficiency, convenience, and portability for urban consumers with limited shopping time.

In December 2021, Red Bull launched a sugar-free multipack range priced at £4.69 per pack, reporting an 85% incremental growth in the multipack segment.

2. Functional Benefits of Shrink Films

Shrink films protect beverages from contamination, reduce transportation damage, and facilitate stackable packaging. Lightweight and space-efficient, shrink films reduce freight costs and enhance supply chain efficiency, making them ideal for e-commerce sales.

3. Eco-Friendly and Recyclable Solutions

Rising consumer awareness of environmental sustainability is driving eco-friendly shrink films adoption. Innovations like EcoShrinkTM by CORTEC Corporation, a commercially compostable film, are increasingly being implemented in North America and Europe.

Market Restraints

1. Environmental Impact

Shrink films are primarily plastic-based polymers such as PE, PVC, and POF, many of which have limited recycling capabilities. Improper disposal can lead to soil pollution and environmental harm. Regulatory pressures, such as fines for plastic pollution, can affect market growth.

2. High Cost of Implementation

The need for specialized shrink wrap machines (costing USD 250-3,500) and labor increases the total expenditure. Additionally, alternatives like stretch hoods may offer cost or operational benefits, posing competition.

Opportunities

1. Emerging Economies

Growing middle-class populations in emerging economies are increasing demand for ready-to-drink beverages. Companies are expanding multipack offerings to these regions, creating new market potential.

2. Product Innovation

Innovations in packaging, such as fiber-based alternatives and customizable shrink films, enable beverage brands to differentiate products and reduce plastic usage. For example, Coca-Cola's adoption of KeelClip replaced plastic shrink wrap, eliminating 34,000 kg of plastic annually.

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Market Challenges

High production costs of shrink films and machinery

Availability of alternative packaging solutions

Volatility in raw material pricing

Regulatory pressures on plastic use

Segmentation Overview

By Application

Water & Carbonated Soft Drinks
Alcoholic Beverages
Others

Water & carbonated soft drinks dominate due to consistent global demand, increased tourism, and expanded e-commerce penetration.

By Type

Unprinted Shrink Film
Printed Shrink Film

Unprinted shrink films lead the market due to affordability and versatility, making them suitable for small and medium-sized enterprises and even large corporations.

Regional Insights

North America: Market Leader

North America dominates due to a mature F&B sector, growing supermarkets, and a strong focus on eco-friendly packaging.

Europe: Second-Largest Market

Countries like UK, Germany, France, Italy, and Spain show strong demand for beverage multipacks. Regional growth is driven by stringent environmental laws and innovative packaging adoption.

Asia-Pacific

Emerging economies with rapid urbanization and rising per capita beverage consumption provide high growth potential for shrink film usage.

Competitive Landscape

The market is moderately consolidated, with key players focusing on R&D, strategic collaborations, and regional expansion.

Key Players Include:

Sealed Air Corporation, Coveris Holdings, Berry Plastics Corporation, Reynolds, Amcor, Sigma Plastics, Clondalkin, Polyrafia, and others.

Conclusion

The global shrink film for beverage multipacks market is poised for strong growth through 2034. Drivers such as rising multipack beverage sales, advancements in eco-friendly films, and growing e-commerce demand are expected to propel market expansion. Companies investing in innovative and sustainable packaging solutions are likely to secure leadership in this competitive market.

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