PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1568084
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1568084
PET Shrink Films
Global PET Shrink Films Market to Reach US$1.7 Billion by 2030
The global market for PET Shrink Films estimated at US$1.4 Billion in the year 2023, is expected to reach US$1.7 Billion by 2030, growing at a CAGR of 2.9% over the analysis period 2023-2030. Food & Beverages End-Use, one of the segments analyzed in the report, is expected to record a 3.1% CAGR and reach US$1.2 Billion by the end of the analysis period. Growth in the Industrial Packaging End-Use segment is estimated at 2.6% CAGR over the analysis period.
The U.S. Market is Estimated at US$389.9 Million While China is Forecast to Grow at 5.7% CAGR
The PET Shrink Films market in the U.S. is estimated at US$389.9 Million in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$353.5 Million by the year 2030 trailing a CAGR of 5.7% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 0.8% and 2.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.5% CAGR.
Global PET Shrink Films Market - Key Trends & Drivers Summarized
How Are PET Shrink Films Revolutionizing Packaging Solutions?
PET shrink films are gaining widespread adoption across various industries, offering an efficient and flexible packaging solution that enhances product presentation, protection, and branding. Made from polyethylene terephthalate (PET), these shrink films are designed to tightly wrap around products when heat is applied, providing a clear and durable protective layer. The transparency and high gloss of PET shrink films allow for superior product visibility, making them an attractive choice for brands aiming to enhance shelf appeal in retail environments. PET shrink films are particularly popular in the food and beverage industry, where they are used to package items such as bottled water, juices, and soft drinks. In addition to offering a visually appealing packaging option, PET shrink films provide tamper-evidence, safeguarding product integrity. Their versatility and lightweight nature have led to increased usage in sectors ranging from pharmaceuticals to personal care, making them a pivotal part of modern packaging solutions.
What Technological Innovations Are Shaping the PET Shrink Films Market?
Technological advancements are driving significant improvements in the performance and sustainability of PET shrink films, contributing to their growing popularity. Innovations in manufacturing processes have led to the development of thinner, stronger films that maintain their durability while reducing material usage, helping companies meet sustainability goals. The introduction of eco-friendly PET shrink films, made from recycled or biodegradable materials, is also gaining traction as businesses and consumers alike prioritize environmental responsibility. Additionally, advancements in digital and flexographic printing technology allow for high-quality, multi-color printing on shrink films, enabling brands to create eye-catching and informative labels. The increasing use of high-performance adhesives and heat-shrink technology has improved the application process, reducing energy consumption and operational costs for manufacturers. These innovations are not only enhancing the efficiency and effectiveness of PET shrink films but are also aligning with global trends toward more sustainable and cost-effective packaging solutions.
How Are Shifting Consumer Preferences Driving Demand for PET Shrink Films?
TABLE OF CONTENTS
I. METHODOLOGY
II. EXECUTIVE SUMMARY
- 1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- PET Shrink Films - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- 2. FOCUS ON SELECT PLAYERS
III. MARKET ANALYSIS
IV. COMPETITION
