PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1639228
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1639228
The Global Shrink Packaging Market, valued at USD 12.3 billion in 2024, is projected to grow at a CAGR of 7.8% from 2025 to 2034. A key driver for this growth is the increasing emphasis on sustainability, as consumers and regulators push for more eco-friendly packaging solutions.
As the demand for packaging made from recycled materials and with lower carbon emissions grows, businesses adapt to meet these environmental standards. This shift toward sustainable packaging solutions is a significant factor behind the market's expansion, as companies balance eco-consciousness with performance and functionality.
The market is segmented by material type, including polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), and other materials. Among these, polyethylene (PE) is expected to dominate, reaching USD 10 billion by 2034. PE is favored for its versatility, affordability, and range of uses across various industries. Its lightweight and transparent properties, combined with its flexibility, make it ideal for wrapping and protecting a diverse array of products. The ability of PE shrink films to conform tightly to product shapes, creating secure and tamper-proof seals, has led to its widespread adoption, especially in consumer goods packaging.
Market Scope | |
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Start Year | 2024 |
Forecast Year | 2025-2034 |
Start Value | $12.3 Billion |