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Polyolefin Shrink Film Market Size

Report ID: GMI6527
Published Date: Aug 2023
Report Format: PDF

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Polyolefin Shrink Film Market Size

Polyolefin Shrink Film Market size was valued at around USD 6.1 billion in 2023 and is anticipated to grow at a CAGR of 5.3% between 2024 and 2032. Polyolefin shrink film is suitable for a wide range of products, including food, beverages, cosmetics, pharmaceuticals, electronics, and more. It can be used to package both individual items and multi-item packs. Polyolefin shrink film offers excellent protection against moisture, dust, contaminants, and physical damage during transportation and storage.

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Shrink film enhances the visual appeal of products by providing a transparent and glossy finish, allowing consumers to see the product inside. The shrink-wrapping process can create a sleek and professional look for products on retail shelves.

Polyolefin Shrink Film Market Report Attributes
Report Attribute	Details
Base Year:	2023
Polyolefin Shrink Film Market Size in 2023:	USD 6.1 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5.3%
2032 Value Projection:	USD 9.7 Billion
Historical Data for:	2018 - 2023
No. of Pages:	150
Tables, Charts & Figures:	191
Segments covered:	Material Type, Type, End-use, Region
Growth Drivers:	Growing food industry Growing e-commerce industry Increasing industrial activities
Pitfalls & Challenges:	Environmental Concerns Sustainability Pressures Energy Consumption

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Despite being recyclable, polyolefin shrink film is still a plastic material, and its production and disposal contribute to plastic waste issues and environmental concerns. Increasing consumer demand for sustainable packaging solutions has put pressure on manufacturers to develop eco-friendly alternatives to traditional polyolefin shrink films. Energy-efficient manufacturing processes and the use of renewable energy sources are challenges that need to be addressed. Thus, the risks associated with Polyolefin shrink film may drive down the acceptance rate, further hampering the business growth.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for polyolefin shrink film reached around USD 6.1 billion in 2023 and is estimated to record USD 9.7 billion by 2032, driven by widespread application in the packaging of food, beverages, cosmetics, pharmaceuticals, and electronics.

Polyolefin shrinks film market from the polyethylene (PE) shrink film segment accounted for USD 3.1 billion in revenue in 2022 and is likely to witness high demand through 2032 due to its affordability compared to other shrink film materials.

U.S. market for polyolefin shrink film was USD 1.2 billion in 2022 and is projected to expand at a steady pace from 2023-2032 attributed to the rapid expansion of e-commerce and the surging demand for packaging materials.

Some of the top firms in the polyolefin shrink film industry are Sealed Air Corporation, Berry Global Group, Inc., Amcor plc, Coveris Holdings S.A., Bemis Company, Inc. (Part of Amcor), Sigma Plastics Group, AEP Industries Inc., Intertape Polymer Group Inc., Ship-Pac, Inc., Bollore Group, and Dow Inc.