Frequently asked questions
The global plastic shrink wrap market was valued at USD 3148.5 Million in 2022.
The plastic shrink wrap market is expected to grow at a CAGR of 4.3% between 2023 and 2030, reaching USD 4409.4 Million in 2030.
Beverage packaging is the leading segment by application, holding over 25% share in value in 2022.
The polyethylene (PE) shrink wrap segment governs the global demand for plastic shrink wrap, holding a massive market share of over 38% in 2022.
The shrink bags segment will post the highest CAGR over the projection period.
North America is fueling the rapid growth of the plastic shrink wrap industry, with over one-third of its share in 2022.
The top players include Berry Global Inc., Amcor Plc, Bonset America Corporation, Bollore Inc., American Eagle Packaging, Coveris, Dow, and Others
The major market drivers of the plastic shrink wrap industry include its versatility, cost-effectiveness, and the rising demand for secure and tamper-evident packaging solutions.
The major market restraints of the plastic shrink wrap industry include environmental concerns related to plastic waste and price fluctuations in raw materials.
The major market opportunities in the plastic shrink wrap industry include the development of eco-friendly materials and expanding applications in the e-commerce and retail sectors.