PUBLISHER: IMARC | PRODUCT CODE: 1820135
PUBLISHER: IMARC | PRODUCT CODE: 1820135
The global polyolefin shrink film market size reached USD 6.3 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 9.8 Billion by 2033, exhibiting a growth rate (CAGR) of 4.74% during 2025-2033.
Polyolefin (POF) shrink film is a chemically inert packaging material manufactured using polymer plastic material. It covers the product and shrinks tightly when heat is applied over it. It is highly durable, exhibits high tensile strength, puncture resistance and visual clarity, due to which it is widely used for packing food products, boxes and bottles. POE shrink film is commonly available in printed and unprinted rolls, tubes and bags. In comparison to the traditionally used materials, they are highly elastic and environment-friendly. As a result, they find extensive applications for the packaging of food and beverages, consumer goods, personal care products, cosmetics and pharmaceuticals.
The growing food and beverages industry and the increasing consumer awareness regarding food safety and protection, represent as the key factors creating a positive outlook for the market. With the changing lifestyles and hectic schedules of the consumers, there is an increasing demand for ready-to-eat (RTE) and packaged food products, which are sealed using POF shrink films. These films are also widely used for the sealing of RTE meals, snacks and frozen meals in quick serving restaurants (QSRs) and cafes. Additionally, various product innovations, such as the development of novel variants with high-gloss finish, improved barrier and airtight sealing properties and ease of printing, are acting as other growth-inducing factors. These variants enhance the aesthetic appeal of the product and aid in improving the effectiveness of the marketing and branding campaigns. Other factors, including the rising expenditure capacities of the consumers, along with extensive research and development (R&D) activities, are anticipated to drive the market growth further.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Allen Plastic Industries Co. Ltd., Amcor Plc, Berry Global Inc. (Berry Global Group Inc.), Exxon Mobil Corporation, Four Star Plastics, Harwal Group of Companies, Intertape Polymer Group Inc., Pakmarkas UAB, Riverside Paper Co. Inc. (SupplyOne Inc.), Saudi Basic Industries Corporation, Sealed Air Corporation and Syfan USA.