Barrier Shrink Films Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2781
Barrier Shrink Films Market size will witness significant growth rate from 2018 to 2025. Shrink films are polymeric plastic films on which heat is applied through handheld heat gun (electric or gas), the film shrinks to set firmly around the product to be packed thereby, adapting itself to the individual shape. Barrier shrink films are used for providing transparency to the product along with protection from dust, gases, moisture, and preserve aroma. These films are available in a variety of thicknesses, clarities, strengths and shrink ratios. Barrier shrink films provide excellent printing designs and enhance the appearance & shelf life of the packaged product. They are tamper evident and helps in retaining the freshness of the product to minimize wastage.
The growing demand for barrier shrink films from end-user businesses where products such as meat, poultry, and cheese are preserved in retail store shelves as well as bundling and protection of goods during warehousing and distribution along with increasing consumption of dairy product and ready to eat meals, snacks, and frozen meals are some of the key factors expected to drive the barrier shrink films market. Furthermore, increasing health related concerns among the consumers have generated significant demand for high barrier packaging films.
Factors such as availability of alternatives such as liquid cartons and recycling & dumping of barrier shrink films results in environmental degradation, which will likely hinder the growth of global barrier shrink films market over the forecast period. However, rising demand for PLA films and increased popularity of quick service restaurants are expected to drive the barrier shrink films market.
The barrier shrink film market has been segmented by product type into flowpacks, vaccum bags, chubs, shrink wraps and others such as form-shrink, etc. The vaccum bag segment is expected to have a larger share owing to properties like reduced atmospheric oxygen, restricting the growth of aerobic bacteria and preventing the evaporation of volatile components to extend the shelf life of foods.
Based on material type the global barrier shrink film market has been segmented into polyethylene, polyethylene terephthalate, polyamide, ethyl vinyl alcohol and others such as polypropylene, etc. Polyethylene is expected to grow at a faster pace because it provides UV protection, impact strength as well as low friction and offer affordability.
In terms of barrier, the market has been segmented into low, medium, high, and ultra-high barriers. Increasing demand from end use industries will propel the demand for high barrier shrink films. It can be further divided into pouches, lids, bags, laminated tubes, etc. These films could be used for applications that require maturation or long shelf life.
Based on end user industries, global barrier shrink film market can be segmented into food & beverages, healthcare, electronics, cosmetics & personal care and others such as paper, textiles, automotive, etc. Rising demand for the product for meat, vegetable, and fruits packaging will significantly impact the global barrier shrink films market for food & beverage use. Positive outlook on food and beverage industry, in economies such Middle East, China, Russia, India, Brazil and Mexico is another factor contributing towards the global barrier shrink film market growth.
The APAC barrier shrink film market will witness high growth during the forecast period owing to increasing number of modern retail outlets. Furthermore, development of supermarkets, e-commerce, shopping complexes, pharmaceutical industries coupled with growth in the storage, and frozen food sectors are some of the factors that make APAC an appealing market.
The barrier shrink films market competitive landscape includes key players such as Sealed Air Corporation, Coveris Holdings S.A., Flavorseal LLC, Premiumpack GmbH, Flexopack S.A., Bemis Company, Winpak Ltd., Schur Flexibles Group, Buergofol GmbH, Kureha Corporation, Ampac Holdings LLC, LINPAC Packaging Limited, Bischof & Klein GmbH & Co., Bollore Films, Berry Plastics Corporation to name a few. The prime focus of all active players is to focus on developing their technological expertise. In order to attain a dominant position in the global market, these players are focusing on research and development activities to introduce technological advancement and innovation.
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