Polyolefin Shrink Film Market To Reach $10.82 Billion By 2030

Polyolefin Shrink Film Market Growth & Trends

The global polyolefin shrink film market is expected to reach USD 10.82 billion by 2030, growing at a CAGR of 3.5%, according to a new report by Grand View Research, Inc. Superior characteristics offered by the polyolefin (POF) shrink films owing to the introduction of cross-linking technology is expected to drive demand over the forecast period.

The rising demand of polyolefin (POF) shrink films owing to its improved barrier properties, ease of printing and superior airtight sealing to increase the shelf life of the product is expected to drive market growth over the forecast period. In addition, high gloss finish of the film enhances the appearance and aids marketing success, which is expected to complement growth.

Growing demand for packaged food such as ready-to-eat meals, snacks, and frozen meals with changing lifestyle, modern retail trades and increased popularity of quick service restaurants are expected to drive the growth. In addition, use of innovative processing techniques to improve the characteristics of the product is likely to boost the adoption of the film.

Major players such as Sealed Air Corporation cater to their local as well as the global market. As the survival in the industry is challenging owing to the presence of a large number of small-scale manufacturers, companies focus on providing premium quality products and enhance the formulation capabilities to gain a competitive edge.

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Polyolefin Shrink Film Market Report Highlights

• General POF shrink films dominated the market with 56.8% of revenue share in 2023. This is due to their cost-effectiveness, good optical properties, and high shrinkage rates 

• The food and beverage segment accounted for the largest market revenue share of 28.7% in 2023. The increasing consumer preference for packaged foods, driven by convenience and hygiene concerns 

• Asia Pacific market dominated the market with 40.0% of revenue share in 2023. The market is expected to grow during the forecast period due to the rapid industrialization, urbanization, and rising disposable incomes

Polyolefin Shrink Film Market Segmentation

Grand View Research has segmented the global polyolefin shrink film market based on type, end-use and region:

Polyolefin Shrink Film Type Outlook (Revenue, USD Million, Volume in Kilo Tons, 2018 - 2030)

• General

• Cross-linked

Polyolefin Shrink Film End Use Outlook (Revenue, USD Million, Volume in Kilo Tons, 2018 - 2030)

• Food and Beverage

• Industrial Packaging

• Pharmaceutical

• Personal Care and Cosmetics

• Printing and Stationery

• Others

Polyolefin Shrink Film Regional Outlook (Revenue, USD Million, Volume in Kilo Tons, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Thailand

  • Indonesia

• Latin America

  • Argentina

  • Brazil

• Middle East and Africa (MEA)

  • Saudi Arabia

  • UAE

  • South Africa

List Of Key Players in the Polyolefin Shrink Film Market

• Exxon Mobil Corporation

• DM PACK SRL

• Vibgyor International

• Plásticos Retráctiles, S.L.

• Amcor Plc

• Berry Global Inc.

• Allen Plastic Industries Co., Ltd.

• FlexiPack

• SABIC

• Sigma Plastics Group