The North American shrink bundling films market, accounting for a significant 22% share in 2022, is experiencing notable growth due to multiple factors. The rapid technological advancements and the thriving e-commerce industry within the region are key drivers behind the increasing demand for shrink bundling films. These films are widely used for packaging and securing products for shipment, aligning with the needs of e-commerce companies looking for efficient and cost-effective solutions.
However, a notable concern in the market is the non-biodegradable nature of shrink bundling films, which could hinder sales opportunities. With growing environmental consciousness, there’s a trend towards sustainable packaging alternatives. This might prompt the industry to explore more eco-friendly options to align with changing consumer preferences and environmental regulations.
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By 2032, the global market for shrink bundling films is anticipated to be worth US$ 2153.2 million, up from US$ 1334.5 million in 2022. Through 2032, it is predicted to expand at a moderate CAGR of 4.9%. The market for shrink-bundling films is anticipated to rise as a result of rising beverage consumption, technological advancements, and numerous other factors.
Shrink bundling films are constructed consisting of 3-layer polyethylene for usage in automated packaging equipment. For exact closure, these are integrated with a heat tunnel. As these perform the bundling and strapping process, the sales of shrink bundle films are anticipated to rise. This finally means that the item can be delivered in a single package.
Additionally, the comparison of the historical and forecast CAGRs reveals that the market for shrink-bundling films is anticipated to expand. In the past, the CAGR was 3.6%, but after looking at recent patterns, it is now expected to be 4.9%.
A detailed study on shrink bundling films market by FMI provides riveting insights into key dynamics, such as drivers and opportunities, facilitating the growth in the market. It uncovers challenges posing threats and highlights prospects for growth in the near future.
As per the comprehensive analysis conducted by ESOMAR-certified consulting firm, FMI, the global shrink bundling films market is expected to grow at a healthy CAGR during the forecast period (2022-2032). The objective of the study is to analyze key market dynamics and uncover critical trends & opportunities that will elevate the sales shrink bundling films in the coming 10-years.
Shrink bundling films are made up of 3-layer polyethylene for usage in automated packaging machines. These are integrated with heat tunnel for precise closure. The sales of shrink bundle films are expected to increase as these carry out the process of bundling and strapping. This ultimately means that the product can be shipped together.
Moreover, the comparison between historical CAGR and estimated CAGR gives us a clue that the shrink bundling films market is expected to grow. The historical CAGR was 3.6%, but observing the recent trends, the anticipated CAGR has increased to 4.9%.
Key Takeaways and Projections:
- The U.S. is expected to lead the North america shrink bundling films market, projecting the fastest growth in the region between 2022 and 2032
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2032.
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Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of shrink bundling films market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
It also provides a list of leading players and recent development in the global shrink bundling films market. Some of the prominent market players are AEP Industries Inc., Amcor Limited, Bemis Company, INC, Berry Plastics Corporation, Ceisa Packaging SAS, Coveris Holdings S.A, Novolex, Coveris Holdings, Paragon Films Incorporated, Hood Packaging Corporation, SIGNODE Industrial Group, Bollore, ROBAPAC.
Key Segments:
By Type:
- Printed
- Unprinted
By Application Pack Size:
- 3×2
- 4×2
- 4×3
- 6×3
- Others
By End User:
- Bottled Water
- Bottled and Canned Soft Drinks
- Canned Foods
- Dry Foods
- Sports & Energy Drinks
- Juices
- Canned & Bottled Beers
- Dairy Products
- Others
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Key Benefits
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Shrink Bundling Films market analysis from 2022 to 2032 to identify the prevailing Shrink Bundling Films market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the Shrink Bundling Films market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global Shrink Bundling Films market trends, key players, market segments, application areas, and market growth strategies. by 2032.
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
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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