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
(2016 – 2023)
Asia-Pacific, North America, South America, Europe, and Middle East & Africa.
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 offers latest trends, growth prospects, industry competitiveness, major players, value chain, regional market share and forecast to 2023.
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- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
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- Region that is expected to witness the fastest growth during the forecast period
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1.1 Scope of the Report
1.2 Market Definition
1.3 Study Assumptions
1.4 Study Deliverables
1.5 Research Phases
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness- Porters Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Intensity of Competitive Rivalry
4. Market Dynamics
4.1.1 Increasing Demand from the Food & Beverage Industry
4.1.2 Other Drivers
4.2.1 Availability of Substitute of PET Shrink Films
4.2.2 Other Restraints
4.3.1 Growing Demand for Eco-Friendly Material for Packaging
4.3.2 Other Opportunities
5. Market Segmentation and Analysis (Market Size, Growth and Forecast)
5.1 By Type
5.1.1 Low Shrink Film
5.1.2 Medium Shrink Film
5.1.3 High Shrink Film
5.2 By End-user Industry
5.2.1 Food & Beverage
5.2.2 Industrial Packaging
5.2.3 Personal Care & Cosmetics
5.2.4 Printing & Stationery
6. Regional Market Analysis (Market Size, Growth, and Forecast)
6.1.4 South Korea
6.1.5 Rest of Asia-Pacific
6.2.2 United Kingdom
6.2.5 Rest of Europe
6.3 North America
6.3.1 United States
6.3.4 Rest of North America
6.4 South America
6.4.3 Rest of South America
6.5 Middle-East & Africa
6.5.1 South Africa
6.5.2 Saudi Arabia
6.5.3 Rest of Middle-East & Africa
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, Recent Developments)
8.1 Allen Plastic Industries Co., Ltd.
8.2 Berry Global, Inc.
8.3 Flint Group Germany GmbH
8.4 Hubei HYF Packaging Co., Ltd.
8.5 KWC Korea
8.6 Plastic Suppliers, Inc.
8.8 Triton International Enterprises
8.9 Vintech Polymers Pvt.
8.10 Klöckner Pentaplast
8.11 Bonset America Corporation
*List not Exhaustive
** Subject to availability on public Domain