PUBLISHER: The Business Research Company | PRODUCT CODE: 1428362
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428362
Beverage multipack shrink film is a packaging material designed to bundle multiple individual beverage products into a single unit. The film is applied to tightly wrap and seal the products, providing secure and tamper-evident packaging to maintain the integrity of the beverages during storage and transit.
The main types of beverage multipack shrink films are printed shrink film and unprinted shrink film. Printed shrink film features personalized patterns, images, or information, often used for marketing purposes to enhance branding and provide product information. The materials used include low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE), polyvinyl chloride (PVC), and others. These films are tailored to accommodate various beverage container types such as aluminum cans, glass bottles, plastic bottles, bricks, trayed beverages, and more. Beverage multipack shrink films are distributed through channels such as direct sales and distributors, catering to applications including beer, water, carbonated soft drinks (CSD), and others.
The beverage multipack shrink film market research report is one of a series of new reports from The Business Research Company that provides beverage multipack shrink film market statistics, including beverage multipack shrink film industry global market size, regional shares, competitors with a beverage multipack shrink film market share, detailed beverage multipack shrink film market segments, market trends and opportunities, and any further data you may need to thrive in the beverage multipack shrink film industry. This beverage multipack shrink film market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 observed in the historical period can be attributed to the growth in beverage consumption, the adoption of multipack packaging, an increased focus on branding and marketing, a rise in convenience and portability trends, and the 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 $3.09 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The anticipated growth in the forecast period can be attributed to improved printing and labeling technologies, the growth in e-commerce and online retail, the adoption of lightweight and recyclable materials, a rise in disposable income and consumer spending, the adoption of tamper-evident packaging solutions, and customization of multipack shrink films for branding. Major trends expected in the forecast period include innovation in shrink film manufacturing processes, technological advancements in shrink film, the use of sustainable and eco-friendly packaging materials, collaboration for research and development in packaging, the integration of smart packaging features, and the development of anti-counterfeiting features.
The beverage multipack shrink film market is poised for growth, driven by the rising demand for bottled water. Bottled water, sealed in containers for human consumption, is experiencing increased global consumption, projected to rise from around 350 billion liters in 2021 to 460 billion liters by 2030, as reported by the World Economic Forum. This surge in demand is fueling the adoption of shrink film for secure and tamper-evident packaging of multipack beverages, ensuring product integrity during storage and transit.
The growth of the beverage multipack shrink film market is propelled by the increasing consumption of alcoholic beverages. The use of shrink film in packaging facilitates efficiency and provides a secure and cost-effective solution for bundling and displaying multiple units of alcoholic beverages. In a health survey conducted by NHS England in 2021, 79% of participants reported consuming alcohol in the last 12 months, indicating a substantial market for alcoholic beverages. This trend contributes to the demand for beverage multipack shrink film.
A notable trend in the market is the emphasis on product innovations. Major companies in the beverage multipack shrink film market are focusing on introducing new products and solutions to maintain their market position. Dow, in partnership with Lotte Chilsung Beverage, launched a collation shrink film (CSF) for bottled water with 20% post-consumer recycled content, showcasing commitment to sustainability. This innovation aligns with environmental goals, contributing to reduced plastic use in packaging.
Companies are prioritizing advanced solutions such as recyclable and renewable packaging to meet sustainability goals. Graphic Packaging's EnviroClip, introduced in March 2022, serves as a paperboard beverage can ring substitute, eliminating the need for shrink film and plastic rings. This recyclable and renewable solution is constructed from responsibly sourced renewable fiber, emphasizing environmental consciousness in packaging.
In July 2021, Toppan Printing acquired the InterFlex Group, strengthening its position in the flexible packaging market. InterFlex Group, a manufacturer of shrink film for beverage multipacks, aligns with Toppan's goal to establish a flexible packaging production network in North American and European markets while promoting sustainable packaging solutions.
Major companies operating in the beverage multipack shrink film market report are 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.
North America was the largest region in the beverage multipack shrink film market in 2023. 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
The countries covered in the beverage multipack shrink film market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The beverage multipack shrink film market consists of sales of polyolefin (POF), polyethylene (PE), and high-density polyethylene (HDPE). Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Beverage Multipack Shrink Film Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on beverage multipack shrink film market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for beverage multipack shrink film ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The beverage multipack shrink film market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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