Claim 20% Off With Code ONLINE20 – Explore Market Reports Covering Trade Trends, Regulatory Changes, and Growth Insights
What Is the Potential Market Growth Rate of the Beverage Multipack Shrink Film Market?
The beverage multipack shrink film market size has grown strongly in recent years. It will grow from $2.38 billion in 2024 to $2.51 billion in 2025 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to growth in beverage consumption, adoption of multipack packaging, increased focus on branding and marketing, rise in convenience and portability trends, expansion of retail and hypermarket chains.
The beverage multipack shrink film market size is expected to see strong growth in the next few years. It will grow to $3.35 billion in 2029 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to improved printing and labeling technologies, growth in e-commerce and online retail, adoption of lightweight and recyclable materials, rise in disposable income and consumer spending, adoption of tamper-evident packaging solutions, customization of multipack shrink films for branding. Major trends in the forecast period include innovation in shrink film manufacturing processes, technological advancements in shrink film, sustainable and eco-friendly packaging materials, collaboration for research and development in packaging, integration of smart packaging features, development of anti-counterfeiting features.
Claim your free report sample now:
What Are the Primary Growth Contributors in the Beverage Multipack Shrink Film Market?
Rising demand for bottled water is expected to propel the growth of the beverage multipack shrink film market going forward. Bottled water refers to water sealed in bottles or other containers for human consumption with no additional components. Shrink film is used in the packaging of multipack beverages to create a secure and tamper-evident wrapping for bottles of mineral water and carbonated beverages to maintain product integrity throughout storage and transit. For instance, in March 2023, according to the World Economic Forum, a Switzerland-based non-governmental and lobbying organization, the global consumption of bottled water is anticipated to increase from around 350 billion liters by 2021 to 460 billion liters 2030. Therefore, the rising demand for bottled water is driving the growth of the beverage multipack shrink film market.
What Are the Major Product/Service Segments in the Beverage Multipack Shrink Film Market?
The beverage multipack shrink film market covered in this report is segmented –
1) By Type: Printed Shrink Film, Unprinted Shrink Film
2) By Material: Low-Density polyethylene (LDPE), Linear low-Density Polyethylene (LLDPE), Polyvinyl Chloride (PVC), Other Materials
3) By Beverage Container Type: Aluminum Cans, Glass Bottles, Plastic Bottles, Bricks, Trayed Beverages, Other Beverage Container Types
4) By Distribution Channel: Direct Sales, Distributor
5) By Application: Beer, Water, Carbonated Soft Drinks (CSD), Other Applications
Subsegments:
1) By Printed Shrink Film: Custom Printed Films, Pre-Printed Films
2) By Unprinted Shrink Film: Clear Shrink Film, Colored Shrink Film
Which Trends Are Positively Affecting the Beverage Multipack Shrink Film Market Expansion?
Major companies operating in the beverage multipack shrink film market are focusing on innovating new products, such as plastic-free secondary packaging solutions, to sustain their position in the market. A plastic-free secondary packaging solution refers to packaging materials used for protecting and grouping products during transport and storage that are free from plastic components. For instance, in September 2023, Coca-Cola Hellenic Bottling Company, a Switzerland-based beverage company, launched the LitePac Top Strap, a groundbreaking plastic-free secondary packaging solution for its sparkling drinks, including Coca-Cola, Fanta, and Sprite. Designed for 1.5-liter multipacks, this innovative packaging utilizes 100% renewable and recyclable materials, such as kraft paper and cardboard clips, eliminating traditional plastic components. The new system is expected to save around 200 tons of plastic annually and aligns with the company’s commitment to achieving net zero emissions by 2040.
Who Are the Prominent Players in theBeverage Multipack Shrink Film Market?
Major companies operating in the beverage multipack shrink film market include Amcor PLC, Berry Global Inc., Sonoco Products Company, Sealed Air Corporation, Huhtamaki Group, CCL Industries Inc., Sigma Plastics Group, Novolex Holdings LLC, Winpak Ltd., RKW Group, Uflex Limited, ProAmpac LLC, C-P Flexible Packaging, Vibac Group S.p.A., Treofan Germany GmbH & Co. KG, Mitsubishi Polyester Film Inc., Flexopack S.A., Crayex Corporation, Dow Inc., Transcontinental Inc., Layfield Group Ltd., Taghleef Industries Group, Eurofilms Extrusion Ltd., Baroda Packaging Private Limited, Barbier Group, Aintree Plastics Ltd., Atlantis-Pak Co. Ltd., Elite Plastics Ltd, Polypack S.r.l., Intertape Polymer Group Inc.
Get the full beverage multipack shrink film market report here:
What Are the Opportunities and Challenges for Beverage Multipack Shrink Film Market Across Regions?
North America was the largest region in the beverage multipack shrink film market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the beverage multipack shrink film market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Contact Us:
The Business Research Company
Americas +1 310-496-7795
Asia +44 7882 955267 & +91 8897263534
Europe +44 7882 955267
Email: info@tbrc.info
Follow Us On:
LinkedIn: The Business Research Company | LinkedIn
Comments
Post a Comment