The global Shrink Wrapper Market size and share will likely increase from USD 517.1 million in 2024 to USD 649.2 million by 2034. This advancement of the said industry will benefit several leading shrink wrapper players worldwide as many opportunities for global expansion will be created.
With the changing dynamics of the industry, the shrink wrapper market valuation and size will be pushed at a sluggish CAGR of 2.3% through the forecasted period.
Technological advancements, including the integration of robotics and AI in the packaging sector, have been significant growth drivers for the shrink wrapper market. Leading shrink-wrapper companies have been leveraging these advancements to elevate production standards, thereby enhancing the quality of shrink-wrapping materials and driving more demand.
Technological development has given rise to smart packaging solutions. Many consumers prefer the integration of IoT, RFIDs, and barcodes on products. This enhances the traceability of the organization, elevating the quality control. The trend will likely elevate the global shrink wrapper market size and share.
The growing consumer inclination toward sustainable packaging methods, such as the use of shrink paper, is a positive trend for the shrink wrapper market. This shift in consumer preferences not only drives demand but also underscores the commitment of the industry to environmental responsibility.
The rising export of fragile goods will drive the demand for efficient packaging solutions. Consumer electronics, pharmaceutical equipment, personal care and beauty products, food and beverage containers, and other consumable items are being exported more, generating more demand for better packaging.
With the help of shrink wrappers, safeguarding perishable goods and fragile items becomes possible, elevating the demand for films to ensure this safety. This helps leading shrink wrapper companies, enlarging the shrink wrapper market valuation and size.
The rising urbanization rate will fuel the changing lifestyle. With the increasing speed of life, consumers will likely prefer staple and convenience food items. This will likely be coupled with the growing preference for wholesale buying. Groceries and daily consumables will be packed together, which will drive the demand for shrink wrappers.
The accelerating retail section in different parts of the world will likely elevate the demand for shrink wrappers.
The growing consumer preference for retail shopping and wholesale grocery shopping raises the demand for collective packaging solutions that can help retailers and consumers carry items with more ease. Such demands push the production of shrink wrappers, enhancing the shrink wrapper market valuation and size.
| Attributes | Key Insights |
|---|---|
| Estimated Shrink Wrapper Industry Size in 2024 | USD 517.1 million |
| Projected Shrink Wrapper Industry Value in 2034 | USD 649.2 million |
| Value-based CAGR from 2024 to 2034 | 2.3% |
E-commerce Growth to Spur Global Shrink Wrapper Market Size and Share
E-commerce networks have been growing as consumer demand increases. Due to this trend, leading shrink-wrapper companies can supply a wider landscape, fueling their advancement. The shrink wrapper worldwide outlook fosters the trend as it supports several growth drivers for the shrink wrapper market.
The development of the e-commerce industry spurred the demand for effective transportation. To avoid any damage to products and goods, the organizations will become keener to pack such goods better.
During the transportation and storage of goods, products might get tampered with due to external effects. This can hamper the credibility of the organization.
To avoid the loss of brand image, key players focused on using shrink wrappers such that packaging films can help firms prevent damage to products. Various aspects of the supply chain use such films to provide an additional layer of safety to products.
Convenience Food to Raise Global Shrink Wrapper Market Size and Share
With the changing consumer lifestyle, consumer preferences have also changed. Due to the rapid urbanization, consumers are shifting toward convenience food and packaged consumables. This drives the demand for packaging material. As a result, this driver will elevate the shrink wrapper market valuation and size.
The rapid urbanization has accelerated the pace of lives of individuals. Due to the growing speed, people tend to spend lesser time on food preparation, which surges the demand for staple food. The food and beverage industry exploits the maximum benefits through this vertical, which capitalizes on the growing need for staple food items.
To pack such food items, shrink wrapper films are used. Such films also help food manufacturers to keep the food attractive and shelf-life of items can be increased. Despite health being a concern, the demand for such convenience food will likely increase in the forecasted period, and this will drive the industry.
Wastage Concern to Harm the Shrink Wrapper Market Valuation and Size
Plastic shrink wrap market size and trends suggest that plastic use is growing in the packaging sector. The threat of waste generation increases due to the lesser recyclability of this plastic. This threatens to reduce consumer attention, thus hampering industrial development.
Plastic wrappers or shrinkage wrappers are designed for use-and-throw purposes. This creates the chance for elevated wastage caused by such films or wrappers. As such factors do not help manufacturers adhere to sustainability policies, the prospects for key players might reduce due to the growing legal compliance issues.
The historical figures suggest that the global shrink wrapper market size and share progressed sluggishly at a CAGR of 1.4%. The last recorded shrink wrapper market valuation and size was USD 469.4 million, recorded in 2019.
The elevated demand for packaged goods and e-commerce businesses gaining traction during the period justify the growth of the global shrink wrapper market size and share. Despite the industry being affected due to various issues, the spurring demand for the transportation of pharmaceutical goods supported the leading shrink wrapper companies.
The growing reach of organizations in different parts increased the business scope. Due to this, the transportation and storage of goods became of growing concern for manufacturers.
Such needs drive the demand for efficient packaging solutions that can support the standards of packaging and storage of goods. The shelf-life of goods was also elevated using shrink wrappers, driving the demand in the historical period.
The forecasted period will encompass the increase in the shrink wrapper market valuation and size due to the growing inclination toward FMCG segments.
The transport and storage of such goods will spur the demand for shrink films. Due to the surging vertical in fast-moving consumer goods, the requirement for tight packaging to enhance transportation speed surged, driving the sales of shrink wrapper films.
Along with such factors, the growing food and beverage industry seeks better packaging solutions in terms of achieving better scalability. Many businesses aim to position a brand better through attractive packaging, which can be achieved using shrink wrapper films.
With better technology, shrink wrapper players in North America will likely benefit, contributing vastly to industrial progress. Similar to North America, the shrink wrapper demand in Europe will likely spur, helping the region to contribute to the global shrink wrapper market size and share. Emerging industries in Asia-Pacific will generate better prospects for the sector.
Forecast CAGRs from 2024 to 2034
| Countries | Forecasted CAGR |
|---|---|
| The United Kingdom | 0.7% |
| The United States of America | 0.9% |
| India | 5.1% |
The overall shrink wrapper demand in Europe will elevate the shrink wrapper market valuation and size in the United Kingdom at a CAGR of 0.7% through 2034.
With the growing food and beverage sector in the United Kingdom, the demand for packaging solutions will spur. The consumer inclination toward convenience and staple food will also likely elevate due to changing lifestyles, requiring shrink films. Such factors will help the country contribute to the global shrink wrapper market size and share.
Compared to the shrink wrapper worldwide outlook, the industry in the United States will advance extremely sluggishly at a CAGR of 0.9% through 2034.
With the growing fast-moving consumer goods industry in the country, leading shrink wrapper companies are required to supply efficient packaging solutions to multiple sectors. Coupled with the growth of the e-commerce ecosystem in the country, the abovementioned prospects enlarge the shrink wrapper market valuation and size.
The shrink wrapper industry forecast predicts that India will likely lead the global landscape and will advance at a moderate CAGR of 5.1% through the forecasted period.
The development of the retail chain in India will capitalize on offline distribution channels. Marketers will seek better packaging alternatives to elevate brand positioning in retail outlets.
The wholesale industry in the country will also experience steady progress. Due to this, leading shrink-wrapper companies will be encouraged to supply products in the industry, shaping the shrink-wrapper industry forecast.
With growing technological innovation in the industry, shrink-wrapping films can be prepared using different machinery. The application of such films can be extended to various openings. Depending on the necessity of wrappers, leading shrink-wrapper companies can deliver films for varying purposes. This will likely elevate the industry progress rate.
| Category | Machine Type- I-bar Sealers |
|---|---|
| Industry Share in 2024 | 47.2% |
Leading shrink-wrapper companies highly emphasize product integrity. Due to this, organizations focus on tight seals, which can be accomplished with the help of I-bar sealers. The versatility of sealers helps the segment gain popularity in the industry, enlarging the shrink wrapper market valuation and size.
Due to the growing emphasis on the aesthetics of the product, the packaging of the product has gained more importance. With marketers being more attentive to product placement, elevated packaging standards are used. This drives the demand for I-bar sealers, which can deliver tamper-free yet attractive product packaging.
| Category | End Use- Manufacturing and Warehousing |
|---|---|
| Industry Share in 2024 | 54.3% |
Manufacturing companies have started to focus on optimization processes to meet sustainability standards. To achieve this, firms choose space optimization, which requires suitable packaging films.
Shrink wrappers can tightly pack goods, reducing space occupancy and enhancing sustainable storage. Such factors drive the demand for the segment, helping the sector contribute to the global shrink wrapper market size and share.
Leading shrink wrapper players worldwide have occupied a substantial industry share. With the higher negotiating force exerted, the competitive landscape is cluttered, hindering the smooth entrance of new entrants.
Such firms expand using expansion strategies like product launches, collaborations, partnerships, mergers, and acquisitions. New entrants can focus on process innovation to gain a larger industry share.
The following recent developments have been shaping the shrink wrapper worldwide outlook
Shorr Packaging Corp., Texwrap Packaging Systems LLC, nVenia LLC., Eastey Enterprises Inc., Standard-Knapp, Inc., Shrinkwrap Machinery Co. Ltd., Klikwood Corporation, Sidel Group, Robopac-Aetna Group S.p.A, Clearpack, Shivansh Packaging Machines, Sealers India Packing Solution, USA Packaging & Wrapping LLC., Xiamen Fushide Packing Machinery Co., Ltd., Tokiwa Kogyo Co., Ltd., Tufcoat ltd, aetna group uk, KALLFASS VERPACKUNGSMASCHINEN GMBH, and trepko are key competitors in the ecosystem.
Depending on the machine type, the industry is segmented into L-bar Sealers, I-bar Sealers, and Others (Side Sealers).
Manual, Semi-Automatic, and Automatic are key segments in the said category.
Manufacturing and Warehousing, E-commerce, and Shipping and Logistics are key end-users of shrink wrappers.
North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and The Middle East and Africa are the key contributing regions to the industry.
The shrink wrapper market will advance at a CAGR of 2.3% through 2034.
The industry will likely reach USD 649.2 million by 2034.
The ecosystem will reach USD 517.1 million in 2024.
The I-bar sealers will hold 47.2% of the industry share in 2024.
The shrink wrapper market in the United States will progress at a CAGR of 0.9% through 2034.
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