PET Shrink Films Market: Current Analysis and Forecast (2022-2028)
Emphasis on Type (low shrink film, medium shrink film, and high shrink film); End-User (food & beverage, industrial packaging, personal care & cosmetics, printing & stationery, and others); and Region/Country
Global PET shrink films Market is expected to grow at a significant rate of around 6% during the forecast period. PET Shrink Films are defined as thermoplastic polymer resin of the polyester family, and they are known to be the best scuff resistance shrink film as they have heat resistance options and are a very high gloss percentage and have the best shrinkage performance. In addition, it is a clear and tough material, which has excellent water and moisture barrier properties. It is majorly used by various industries such as food and beverages for packaging of food products such as bakery and processed food and beverages including healthy drinks, juices, and soft drinks. Also, the growing adoption of eco-friendly packaging materials is likely to provide growth opportunities to the PET shrink films market players during the forecast period.
Berry Global Inc., The Dow Chemical Company, Allen Plastic Industries Co. Ltd., Bonset America Corporation, Flint Group, Polyplex Corporation Ltd., Sealed Air Corporation, Anchor Packaging Inc., Sigma Plastics Group, Clysar LLC are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, low shrink film category to witness higher CAGR during the forecast period”
Based on type, the market is segmented into low shrink film, medium shrink film, and high shrink film. low shrink film category is to witness higher CAGR during the forecast period as it requires less heat to shrink and seal faster, reducing sealing time and increasing production capacity. In addition, the low PET Shrink Films are used for packaging heat-sensitive electronics products. Hence, the quality feature offered by low temperature shrink film is superior seal strength, low shrink and seal temperature, food safety, and puncture resistance
“Amongst end-user, the food & beverage to hold a significant share in the market in 2020”
Based on end-user, the PET shrink films market has been classified into food & beverage, industrial packaging, personal care & cosmetics, printing & stationery, and others. The food & beverage category is dominating the market and it is expected to witness higher adoption of PET shrink film during the forecast period. This is mainly used for the packaging of several food products such as dairy and bakery products, takeaway food, processed food, meat, and beverages. In addition, it is also used for the packaging of stationery materials such as books, art supplies, pen pencils, and others.
“Asia-Pacific to hold a significant share in the market”
In 2020, Asia-Pacific is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the growth of the packaging and healthcare industry in countries such as China, India, Japan, and South Korea, the consumption of PET shrink film in this region is growing. In addition, China’s packaging industry is leading the region. Additionally, the increasing customized packaging and growing demand for consumer-packaged goods are expected to witness steady growth during the forecast period within the region. In recent years, the rapid growth in the fast-moving consumer goods (FMCG) sector is increasing the spending of the domestic middle-class consumers on quality and healthier products. Moreover, the region’s packaging industry is mainly driven by the growing innovations in the industry to make products compact and portable. Hence, with all these factors, the PET shrink film market in the region is expected to grow steadily over the forecast period.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The Global PET Shrink Films Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
1. Market Introduction
- Market Definitions
- Main Objective
- Stakeholders
- Limitation
2. Research Methodology Or Assumption
- Research Process of the PET Shrink Films Market
- Research Methodology of the PET Shrink Films Market
- Respondent Profile
3. Market Synopsis
- Market Synopsis
4. Executive Summary
- Executive Summary
5. Impact Of Covid-19 On The Pet Shrink Films Market
- Impact Of Covid-19 On The Pet Shrink Films Market
6. Pet Shrink Films Market Revenue (usd Bn), 2020-2028f
- Pet Shrink Films Market Revenue (usd Bn), 2020-2028f
7. Market Insights By Type
- Low Shrink Film
- Medium Shrink Film
- High Shrink Film
8. Market Insights By End-user
- Food & Beverage
- Industrial Packaging
- Personal Care & Cosmetics
- Printing & Stationery
- Others
9. Market Insights By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Rest of World
- North America
10. Pet Shrink Films Market Dynamics
- Market Drivers
- Market Challenges
- Impact Analysis
11. Pet Shrink Films Market Opportunities
- Pet Shrink Films Market Opportunities
12. Pet Shrink Films Market Trends
- Pet Shrink Films Market Trends
13. Demand And Supply-side Analysis
- Demand Side Analysis
- Supply Side Analysis
14. Value Chain Analysis
- Value Chain Analysis
15. Competitive Scenario
- Competitive Landscape
- Porters Fiver Forces Analysis
- Competitive Landscape
16. Company Profiled
- Berry Global Inc.
- The Dow Chemical Company
- Allen Plastic Industries Co. Ltd.
- Bonset America Corporation
- Flint Group
- Polyplex Corporation Ltd.
- Sealed Air Corporation
- Anchor Packaging Inc.
- Sigma Plastics Group
- Clysar LLC.
17. Disclaimer
- Disclaimer
Research Methodology for the PET Shrink Films Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global PET shrink films market were the three major steps undertaken to create and analyze the adoption of PET shrink films in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global PET shrink films market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the PET shrink films market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the PET shrink films market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the PET shrink films market. Further, we conducted factor analysis using dependent and independent variables such as various types and end-users of all-terrain vehicles. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the PET shrink films market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global PET shrink films market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the PET shrink films market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global PET shrink films market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global PET shrink films market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and end-user in the global PET shrink films market.
The main objective of the Global PET Shrink Films Market Study
The current & future market trends of the global PET shrink films market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the PET shrink films market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type and end-user.
- Define and analysis of the regulatory framework for the PET shrink films
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the PET shrink films market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the PET shrink films market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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