The growing demand for processed and packaged beverage products among consumers is expected to drive the market.
The shrink plastic film market for beverage multipacks market for beverage multipacks is projected to grow at a CAGR of 3.5% during the forecast period
According to MarketsandMarkets, the global shrink plastic film market for beverage multipacks market for beverage multipacks size is estimated to be valued at USD 2.5 billion in 2020 and projected to reach USD 3.0 billion by 2025, recording a CAGR 3.5%. Factors such as the growing concern of hygiene and the safety of beverages are going to be the driving factor for the shrink plastic film market for beverage multipacks. Especially post-COVID, the concern for safety and hygiene of products has been increased among both the consumers and manufacturers, which is creating a rise in the demand for shrink plastic film market for beverage multipacks in the market.
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By type, the unprinted segment is projected to grow at the highest CAGR during the forecast period
The unprinted type of shrink film is the cost-effective option as compared to the printed one. The unprinted shrink plastic films are low in cost and more versatile uses. Shrink plastic films are used for securing the packs. The transparent sheets provide a better look at the product inside. It is also affordable for SMEs, thereby is having popularity in the developing markets. The unprinted shrink plastic films are used for the products made for transportation purposes rather than retail shelf display. It secures the products from getting damaged and contaminated from foreign sources.
By multipack size, the 4x2 size segment is estimated to account for the largest share
The 4x2 size is most common as the demand for cans and bottles for soft drinks and beers are increasing. It is most favorable for transportation also. Many high end, craft beer, and soft drinks use this arrangement to sell the products, where consumers are likely to buy in bulk. Therefore, the demand for 4x2 size of shrink wrap is there. With the increase in the demand for beverages, companies are packing higher volume; therefore, the size 4x3 is fastest growing in shrink plastic films market for beverage multipacks.
The Asia Pacific region is projected to grow at the highest CAGR during the forecast period
The increase in the production of packaging applications in such a way has led to a rise in the market potential for shrink plastic films for packaging. The increase in the purchasing power of millennial consumers has added the potential in the market, too, for shrink plastic films. Developed markets such as North America and Western Europe are becoming mature, which has led to faster growth in emerging markets such as Asia Pacific. Furthermore, the changing consumer preference in the food & beverage industry has contributed to the growth of the shrink plastic film market for beverage multipacks market in this region.
The shrink plastic film market for beverage multipacks market is segmented region-wise, with a detailed analysis of each region. These regions include Asia Pacific, North America, Europe, South America, and RoW (South Africa, the Middle East, and Others in Africa).
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Leading players profiled in this report include the following:
Research Coverage
This report segments the shrink plastic film market for beverage multipacks market based on type, application, multipack size, container type, and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape, pricing insights, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the shrink plastic film market for beverage multipacks market, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.
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Based on type, the shrink plastic film market for beverage multipacks is dominated by the unprinted shrink plastic film segment.
