The Beverage Multipack Shrink Film Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Beverage Multipack Shrink Film Global Market Report 2024, The beverage multipack shrink film market size has grown strongly in recent years. It will grow from $2.24 billion in 2023 to $2.39 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. 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
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The beverage multipack shrink film market size is expected to see strong growth in the next few years. It will grow to $3.09 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. 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.
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.
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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
Product innovations are the key trend gaining popularity in the beverage multipack shrink film market. Major companies operating in the beverage multipack shrink film market are focused on innovating new products and solutions to sustain their position in the market. For instance, in November 2021, Dow, a US-based sustainable materials science company, partnered with Lotte Chilsung Beverage Co Ltd., a South Korea-based drink manufacturer, to launch a new collation shrink film (CSF) for bottled water made from a material containing 20% post-consumer recycled (PCR) content. This partnership will utilize the CFS as additional packaging for Lotte’s Icis 8.0 Eco bottled water, which has no additional plastic labels. According to Dow, the PCR CFS film performs on par with conventional films created using solely virgin resins. Dow’s PCR collation enhances the sustainability of Lotte’s beverage products shrink film, which also aids Lotte in further reducing its use of plastic.
The beverage multipack shrink film market report table of contents includes:
1. Executive Summary
2.Beverage Multipack Shrink Film Market Characteristics
3.Beverage Multipack Shrink Film Market Trends And Strategies
4.Beverage Multipack Shrink Film Market analysis
5.Beverage Multipack Shrink Film Market Size And Growth
6. Beverage Multipack Shrink FilmSegmentation
7.Beverage Multipack Shrink Film Regional And Country Analysis
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27.Beverage Multipack Shrink Film Competitive Landscape And Company Profiles
28. Beverage Multipack Shrink FilmKey Mergers And Acquisitions
29. Beverage Multipack Shrink FilmFuture Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Amcor PLC
- Berry Global Inc.
- Sonoco Products Company
- Sealed Air Corporation
- Huhtamaki Group
- CCL Industries Inc.
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