Polyethylene Terephthalate (PET) Shrink Films Market - Segmented by Type, End-User Industry, and Geography - Growth, Trends, and Forecast (2020 - 2025)

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The polyethylene terephthalate (PET) shrink films market is expected to register significant growth during the forecast period (2018-2023). The market is expected to grow owing to factors such as increasing demand from the food & beverage industry. Growing demand for eco-friendly material for packaging is projected to act as an opportunity for the market’s growth. North America region accounted the major market share of the global market in 2017.

Increasing Demand from the Food & Beverage Industry

PET shrink films are used for the packaging of individual food products such as muffins, cookies, candies, and other confectionary products. For bundling multiple products, these films can be used as primary packaging coming into direct contact with the food product. PET is one of the most commonly used material for shrink wrapping because it can be produced in a range of different densities and modified with additives to perform many functions. Additionally, these films are also used for the purpose of bundling smaller units and lumber. Super market tray wraps are also manufactured using PET shrink films. Hence, the demand for PET shrink films in food & beverages industry is expected to drive the global market over the forecast period.

Personal Care & Cosmetics to Dominate the Market

In personal care & cosmetics industries, PET shrink films are used in for packaging their products. This type of packaging is known as shrink packaging or shrink wrapping.  This can be done in three or four stages, such as wrapping (sleeve wrapping or over-wrapping), sealing (necessary only for over-wrapping), shrinking (with application of hot air), and cooling. The cosmetic industry is growing at a significant rate globally, driven primarily by the skincare, hair care, make-up, toiletries segments. With the growth of the personal care and cosmetics industry over the decade, the PET shrink films market is expected to grow at a moderate rate over the forecast period.

North America to Dominate the Market

North America dominated the global PET shrink films market in 2017, owing to the growing food & beverages and personal care industries, the usage of PET shrink films has increased over the past few years. It is expected that the market will increase moderately in the region over the forecast period. United States accounted the highest market share in the region. The personal care industry is growing in Canada in recent times. Additionally, food processing, which is the second largest manufacturing industry in the country is also contributing the market demand for PET shrink films. Processed food is exported to 190 countries across the world from Canada, which will, in turn, augment the growth of PET shrink films during the forecast period.

The major players include – Berry Global, Inc., Klöckner Pentaplast, Hubei HYF Packaging Co., Ltd., Flint Group Germany GmbH, Bonset America Corporation, Polyplex, and Vintech Polymers Pvt., among others.

PET Shrink Films Market Report Summary




PET Shrink Films Market

Study Period

(2016 – 2023)

Regions Covered

Asia-Pacific, North America, South America, Europe, and Middle East & Africa.

Companies Covered

Berry Global, Inc., Klöckner Pentaplast, Hubei HYF Packaging Co., Ltd., Flint Group Germany GmbH, Bonset America Corporation, Polyplex, and Vintech Polymers Pvt., among others.

Report Coverage

Report offers latest trends, growth prospects, industry competitiveness, major players, value chain, regional market share and forecast to 2023.

Reasons to Purchase This Report

  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • Identifying the end-user industry that is expected to dominate the market
  • Region that is expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market share, and strategies employed by the major market players.
  • 3 months analyst support along with the Market Estimate sheet (in Excel)

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