Global Polyolefin Shrink Film Market Size to worth USD 11.99 Billion by 2033: Market Insight Report

Global Polyolefin Shrink Film Market Size to worth USD 11.99 Billion by 2033

According to a research report published by Spherical Insights & Consulting, the Global Polyolefin Shrink Film Market Size is Expected to Grow from USD 8.52 Billion in 2023 to USD 11.99 Billion by 2033, at a CAGR of 3.48% during the forecast period 2023-2033. 

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Polyolefin Shrink Film Market Size, Share, and COVID-19 Impact Analysis, By Type (General and Cross-linked), By End Use (Food and Beverage, Industrial Packaging, and Pharmaceutical), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.          

Polyolefin shrink film is a type of thermoplastic material based on polyolefin polymers, mainly polyethylene and polypropylene. This material is designed to shrink tightly around products when heat is applied. Polyolefin shrink film is one of the most widely used packaging materials in food and beverages, pharmaceuticals, cosmetics, and consumer goods, because of its excellent clarity, durability, and ability to provide a secure and tamper-evident seal. These advantages give polyolefin shrink films much value, as they enhance the protection and presentation of packaged goods by having more flexibility, moisture resistance, and superior strength. Furthermore, the market for polyolefin shrink film is driven by factors such as the increasing demand for efficient, cost-effective, and sustainable packaging solutions. The growth of e-commerce and retail sectors has further fueled the need for robust and attractive packaging that ensures product safety during transit. Additionally, the shift towards eco-friendly materials and the recyclability of polyolefin films contribute to the expansion of this market. However, certain challenges hinder market growth. The relatively high cost of polyolefin shrinks films compared to other packaging materials can limit their adoption, particularly in price-sensitive applications.

The general segment is predicted to hold the greatest market share through the forecast period.

Based on the type, the polyolefin shrink film market is classified into general and cross-linked. Among these, the general segment is predicted to hold the greatest market share through the forecast period. This is primarily due to its widespread use across a variety of applications, including food and beverage packaging, consumer goods, and retail products. General polyolefin shrink films offer excellent clarity, strong sealing properties, and cost-effectiveness, making them a popular choice for standard shrink-wrapping needs.

The food and beverage segment is anticipated to hold the greatest market share during the projected timeframe.    

Based on the end-use, the polyolefin shrink film market is divided into food and beverage, industrial packaging, and pharmaceutical. Among these, the food and beverage segment is anticipated to hold the greatest market share during the projected timeframe. This is primarily due to the high demand for efficient, cost-effective, and attractive packaging solutions in the food and beverage industry. Polyolefin shrink films are widely used for packaging various food products, including ready-to-eat meals, beverages, and snack items, as they offer excellent barrier properties, moisture resistance, and the ability to maintain product freshness and safety.

Asia-Pacific is estimated to hold the largest polyolefin shrink film market share over the forecast period.

Asia-Pacific is estimated to hold the largest polyolefin shrink film market share over the forecast period. The market will continue to grow in the forecast period due to high rates of industrialization and urbanization, along with increased disposable incomes. Increasing e-commerce in the region combined with increased demand for packaged food and consumer goods has promoted POF shrink film consumption in the region.

North America is predicted to have the fastest CAGR growth in the polyolefin shrink film market over the forecast period. This growth can be attributed to the fact that the robust e-commerce industry, the high concern about food safety, and the penetration of advanced packaging technologies drive the market expansion. With the well-established supply chain infrastructure in the region, along with a rise in demand for convenient and secure packaging solutions, North America is growing rapidly as a POF shrink film market.

Competitive Analysis

Major key players in the polyolefin shrink film market are Exxon Mobil Corporation, DM PACK SRL, Vibgyor International, Plásticos Retráctiles, S.L., Amcor Plc, Berry Global Inc., Allen Plastic Industries Co., Ltd., FlexiPack, SABIC, and Sigma Plastics Group.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts global, regional, and country revenue from 2023 to 2033. Spherical Insights has segmented the polyolefin shrink film market based on the below-mentioned segments:

Global Polyolefin Shrink Film Market, By Type

• General
• Cross-linked

Global Polyolefin Shrink Film Market, By End-Use

• Food and Beverage
• Industrial Packaging
• Pharmaceutical

Global Polyolefin Shrink Film Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa