The thriving e-commerce industry is expected to be the key driver for the global collation shrink films market. Demand for high performance packaging solution and reduce transportation cost is expected to make collation shrink film an important packaging material for personal care products, food and beverages, cosmetics, and pharmaceuticals.
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The global collation shrink film market is projected to achieve significant sales growth, reaching USD 4.3 billion in 2024 and expanding at a CAGR of 4.8% during the forecast period from 2024 to 2034. By 2034, the market is expected to generate revenue of USD 6.9 billion. In 2023, the market generated USD 4.1 billion in revenue and is forecasted to demonstrate a year-on-year growth of 4.2% in 2024.
Core Concepts in the Collation Shrink Film Industry
- Market Size (2024): The collation shrink film market is projected to reach USD 4.3 billion in 2024.
- Industry Forecast: The market demand is expected to grow at a CAGR of 4.8% from 2024 to 2034.
- Market Outlook: By 2034, the collation shrink film market is anticipated to reach USD 6.9 billion.
- Leading Material: Low-density polyethylene (LDPE) is estimated to be the leading material in the industry.
- Collation Shrink Film: A novel packaging solution used to secure multiple products together.
- Shrinkage of the Film: Shrinkage involves solvent and moisture loss during the production of the film.
- Shrink Film: A packaging material made of polymer-based plastic that shrinks tightly over the product when heated.
Key Takeaways of Collation Shrink Films Market Study
- As per thickness, 25-50 micron collation shrink films are expected to holds 1/3 rd of the market share during the forecast period
- Linear low-density polyethylene (LLDPE) material segment is expected to gain by 50 bps of current market share, by the end of 2030
- Collation shrink films are mostly preferred for bottles and cans packaging applications, pushing these segments to gain a cumulative worth of US$ 774 Mn by 2025
- Food and beverage manufacturers to remain key end users of collation shrink films and estimated to expand 1.8x of current market value during 2020-2030
- North America is estimated to remain at leading position with more than 25% market share in 2020. However, East Asia is expected to outbid other regions during the forecast period.
- South Asia market is anticipated to expand by 2.1x of current market share till 2030, attributing to double digit investment by the key players for manufacturing collation shrink films
- Germany market is anticipated to be highly lucrative as it is poised to represent an incremental opportunity of US$ 24 Mn by the end of 2025 in the Europe region
- Mexico collation shrink films market is anticipated to expand at a potential CAGR of 7.1% during 2020-2030, owing to increasing number of key players
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Key Segments of Market Report
By Thickness:
Based on thickness, the market is segmented into less than 25 microns, 25 to 50 microns, 50 to 100 microns, and above 100 microns.
By Material:
In terms of material, the industry is segmented into low-density polyethylene (LDPE), linear-low-density polyethylene (LLDPE), medium-density polyethylene (MDPE), high-density polyethylene (HDPE), polypropylene (PP), and other materials.
By Application:
In terms of application, the collation shrink film market is segmented into bottles, cans, books and magazines, cartons, and other applications.
By End-use:
Based on end-use, the sector is segmented into food and beverage, cosmetics, personal care and home care, pharmaceuticals, transportation and logistics, printing and publishing, and others.
By Region:
Key countries of North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East, and Africa are covered.