Polyolefin shrink film and other types of shrink wrap are used on a variety of products for packaging purposes including, toys and electronic goods. Globalisation has resulted in the transportation of various products around the world increasing demand for robust packaging solutions to improve durability as well as a number of other factors. The constant demand for shrink wrap has increased anticipation in recent years, and this is being shown in the food industry due to the adoption of shrink labels and hoods and its ability to endure a wide range of temperatures.
In addition, rising sales of retail items along with increasing online sales are also driving the growth of the packaging industry which is expected to impact the global stretch and shrink films market growth in the near future.
Factors such as the high efficiency of film manufacturing, rising sales, and the increasing use of shrink wrap beverage and pallet unitisation wraps are also adopting the demand of stretch and shrink films globally. Instead, tough regulatory standards relevant to packaging materials used in the food industry are expected to restrain the market growth to some extent. Additionally, constantly changing raw material prices along with the uncertainty of the natural gas and petroleum market is expected to be a key concern for manufacturers.
The global stretch and shrink films market is now segmented as beverage packaging, material goods packaging, consumer product packaging, food packaging, industrial product packaging, and pharmaceuticals packaging.
Asia-Pacific is expected to dominate the global stretch and shrink films market mainly owing to high growth for the food industry. The demand for bulk packaging materials by the developing countries such as China and India is also expected to drive the market growth as well. Increasing demand for consumer goods in this region is expected to impact the market positively. Additionally, rising awareness regarding personal health is also anticipated to boost the demand for health-based packaged beverages in this region, which in turn is expected to result in high market growth.
With this being said, we can expect to see the packaging industry continue to grow due to the pharmaceutical and food industry. Here at Kempner, we have a great range of shrink wrap machines and films. Our complete range of shrink wrap packaging and wrapping machinery provides you with all the shrink wrap equipment you need.