Shrink Bundling Films Market expected to show steady growth by 2024

Global Shrink Bundling Films Market: Overview

The shrink bundling film is a type of film that connects the production ability with the shelf impact that is concentrated along with the printing that is customized. The shrink bundling films are majorly used in the packaging industry and can be used to pack several types of products.

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Global Shrink Films Market: Segmentation

The global market for the shrink bundling films is fragmented into its type, application, and end users. On the basis of type, the global market is segregated into unprinted and printed. On the basis of application, the market is categorized into 6×3 size, 4×3 size, 4×2 size, 3×2 size. On the basis of end-users, the market is divided into dairy products, juices, dry foods, bottled and canned soft drinks, canned & bottled beers, sports & energy drinks, canned foods, bottled water, and others.

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Global Shrink Bundling Films Market: Growth Factors

The primary factors that are contributing to the market growth are rise in the adoption of the shrink bundling film in the consumer products such as beer cans and other drinks, technological developments that are made in the field of packaging, increase in the disposable income, and the labels are used in a wide range of applications such as quality check and the product security. The other factor that is driving the shrink bundling films market is the increasing consumption of the packed foods and beverages which include water, fruit juice, and others. The shrink bundling films are generated from the bundling film machine and it can be adjusted to any number of sizes without having any tooling cost or extra time thus driving the demand of the market. The factor that is hampering the growth of the market is the chances of the product leakage and packaging damage while handling of the product limits the growth of the market.

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Global Shrink Bundling Films Market: Regional Analysis

According to the regional study, the global market for the shrink bundling films is diversified into North America, Western Europe, Asia Pacific, the Middle East and Africa, Eastern Europe, and Latin America. The market that is dominating the shrink bundling films market is Asia Pacific region. The factor that contributes to the market growth in Asia Pacific region is the increasing development of the packaging industry especially in the emerging nations such as China and India. The increased consumption of the packed food products and beverages which include the water, carbonated soft drinks, bottled milk, fruit juice, and energy drinks is also driving the shrink bundling films market in Asia Pacific region. The market is developing in the North American region owing to its wide range of applications. The other factors that are driving the market growth in this region are the advancements that are made in the flexible packaging technology and the changing packaging patterns.

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Global Shrink Bundling Films Market: Competitive Players

The key market players that are involved in the shrink bundling films market include Amcor Limited, Berry Plastics Corporation, Coveris Holdings S.A, Coveris Holdings, Hood Packaging Corporation, Bollore, AEP Industries Inc., Bemis Company, Inc., Ceisa Packaging SAS, Novolex, Paragon Films Incorporated, Signode Industrial Group, Robapac, and others.

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