The combined United States & Canada Collation Shrink Films Market exhibited significant growth, reaching a total valuation of US$ 1,014.8 million in 2023. This upward trajectory is poised to continue, with an expected robust compound annual growth rate (CAGR) of 5.2% from 2023 to 2030. By the year 2030, the collation shrink films market in these North American regions is anticipated to achieve a remarkable market worth of US$ 1,451.1 million.
The proliferation of collation shrink films across various industries, notably in sectors such as food and beverage as well as pharmaceuticals, is forecasted to be a key driver of increased sales in the United States and Canada. These industries are increasingly recognizing the advantages of collation shrink films in terms of product packaging, protection, and marketability.
Additionally, the growing adoption of collation shrink films as a potent marketing tool is set to further boost demand in the region. These films offer an exceptional printing surface quality, making them a preferred choice for branding and promotional purposes. This quality, combined with their functional attributes, positions collation shrink films as an effective means of enhancing the visual appeal and market presence of packaged products.
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Overall, the collation shrink films market in the United States and Canada is poised for a prosperous and dynamic future, driven by their versatility, utility, and the strategic advantages they offer to a wide range of industries.
Drivers:
- Increased Adoption in Food & Beverage Industry: Collation shrink films are widely used in the food and beverage sector for packaging, bundling, and securing products. The growth of this industry, coupled with the need for effective and appealing packaging, is a significant driver of demand.
- Pharmaceutical Industry Growth: Collation shrink films play a crucial role in the packaging of pharmaceutical products, ensuring product integrity and tamper-evident packaging. As the pharmaceutical industry expands, so does the demand for these films.
- Marketing and Branding Advantages: Collation shrink films offer a high-quality printing surface that enhances product branding and marketing efforts. This has led to their increased adoption as an effective marketing tool to attract consumers.
- Sustainability and Environmental Concerns: As the focus on sustainability and reducing plastic waste increases, collation shrink films, which are often recyclable and more eco-friendly than traditional packaging materials, are gaining traction.
- Technological Advancements: Continuous innovations in collation shrink film technology, such as improved materials, printing capabilities, and application methods, are driving market growth.
Restraints:
- Raw Material Costs: The cost of raw materials used in collation shrink films, such as various plastics, can be subject to fluctuations and supply chain disruptions, impacting the overall cost of production.
- Regulatory Compliance: Compliance with changing regulations, especially regarding the environmental impact of packaging materials, can be challenging for manufacturers and may require adjustments in product formulations and processes.
- Competition from Alternatives: Collation shrink films face competition from alternative packaging solutions, including biodegradable materials, paper-based packaging, and sustainable packaging options. These alternatives can pose a threat to the market.
- Energy Consumption: The heat-shrinking process used in applying these films can be energy-intensive, leading to increased operational costs and potential environmental concerns.
- Limited Awareness: Some end-users may have limited awareness of the benefits and applications of collation shrink films, which can slow down their adoption in certain sectors.
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Key Players
- ITP – Industria Termoplastica Pavese
- Armando Alvarez Group
- Macchi North America Plastic Machinery Inc.
- Accredo Packaging, Inc.
- Transcontinental Packaging
- Dow Inc.
- Berry Global Inc.
- Pyramid Shrink Film
- Plastixx FFS Technologies
- Sealed Air Corporation
- NOVA Chemicals Corporate
- Packman Packaging Pvt. Ltd.
- Impackt Packaging Solutions
- Brentwood Plastics, Inc.
- Intertape Polymer Group
- Clysar, LLC
United States & Canada Collation Shrink Films Market Segmentation
By Material:
- Low-Density Polyethylene (LDPE)
- Linear Low-Density Polyethylene (LLDPE)
- Medium Density Polyethylene (MDPE)
- High-Density Polyethylene (HDPE)
- Polypropylene (PP)
- Others
By Thickness:
- Less than 25 microns
- 25 to 50 microns
- 51 to 100 microns
- Above 100 microns
By Application:
- Bottles
- Cans
- Books & Magazine
- Cartons
- Others
By End Use:
- Food & Beverage
- Cosmetics
- Personal Care & Home
- Pharmaceuticals
- Transport & Logistics
- Printing & Publications
- Others
By Country:
- United States
- Canada
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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