Global Beverage Multipack Shrink Film Market Size By Type (Printed Shrink Film, Unprinted Shrink Film), By Application (Alcoholic Beverages, Water and Carbonated Soft Drinks (CSD)), By Geographic Scope And Forecast

Beverage Multipack Shrink Film Market Size And Forecast

Beverage Multipack Shrink Film Market size was valued at USD 1.26 Billion in 2022 and is projected to reach USD 2.12 Billion by 2030, growing at a CAGR of 5.66% from 2023 to 2030.

The market for shrink plastic film for beverage multipacks will be driven by factors like the rising concern over hygiene and the safety of beverages. Due to the steadily rising demand for mineral water and carbonated beverages, water and carbonated soft drinks make up the most significant portion of the overall shrink film packaging demand. The Global Beverage Multipack Shrink Film Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Beverage Multipack Shrink Film Market Definition

Multipacks are typically used to bundle together a number of bottles or containers so that they can be sold as a single item. They are used in the process of packing a variety of containers, including those for alcoholic beverages, soft drinks, and dairy goods of various shapes and sizes. By using less plastic, this kind of packaging also helps to protect the environment, which in turn increases demand for shrink films for beverage multipack applications. Small new firms, as well as well-established competitors, govern and manage this market.

Many different types of beverages can be packaged using shrink film for beverage multipacks. Also, a variety of bottle wrapping designs have been produced, which significantly contributes to the market expansion. Water and soft drinks are typically packaged in bottles before supplementary packaging; such as shrink film; is added The most popular material for this type of packaging is polyolefin because it degrades naturally but slowly over time In all industries, printed shrink wrap film is still gaining ground, particularly in retail point-of-sale.

Global Beverage Multipack Shrink Film Market Overview

The adoption of beverage multipack shrink film is mostly driven by an increase in alcohol consumption in China and India, which may be attributed to the alcohol industry’s strong marketing efforts and rising income levels in these nations. The market for beverage multipacks shrinks plastic film benefits from this trend as well. Multipacks are finding a market due to rising demand. The two main variables affecting the consumption of beer and other alcoholic beverages are the enormous increase in the world population and the rising disposable income.

The high commercialization and bolstered distribution networks used by producers of alcoholic beverages as well as the buying channels used, like online stores, are further motivating factors. The consumption of alcoholic beverages has also increased as a result of rising per capita income and rising youth disposable income. In addition, European Regulation forces packaging companies to use high-quality packaging materials. As a result, a comprehensive toxicological analysis test must be carried out by the packaging manufacturer. It costs a lot to take the test.

Hence, shrink plastic film becomes more expensive as a result of the high expenses related to testing, making it difficult for producers to compete in the market. Shrink Film type of packaging is lightweight, durable, and visually attractive. When equated to rigid packaging, these shrink-film beverage multipacks lessen the conveyance expenditures of beverages and are easier to carry. Some of the factors which are all set to boost the growth of shrink film for beverage multipacks include, the growing consumption of alcoholic beverages as well as the demand for ready-to-drink fruit juices. Major types of shrink film materials commercially available are polyethylene, polypropylene, polyvinyl chloride, and more.

Global Beverage Multipack Shrink Film MarketSegmentation Analysis

The Global Beverage Multipack Shrink Film Market is segmented on the basis of Type, Application, And Geography.

Beverage Multipack Shrink Film Market, By Type

• Printed Shrink Film
• Unprinted Shrink Film

Based on Type, the market is segmented into Printed Shrink Film and Unprinted Shrink Film. The Unprinted Shrink Film segment dominated the market for Beverage Multipack Shrink Film in 2021. In comparison to printed shrink film; unprinted shrink film is the more affordable choice Unprinted shrink-plastic films are less expensive and have more applications. The packs are held together with shrink-plastic films; and a clearer view of the product within is made possible by the translucent sheets. It is also reasonably priced for SMEs, making it attractive in emerging markets.

Beverage Multipack Shrink Film Market, By Application

• Alcoholic Beverages
• Water and Carbonated Soft Drinks (CSD)
• Others

Based on Application, the market is segmented into Alcoholic Beverages, Water and Carbonated Soft Drinks (CSD), and Others. The Water and Carbonated Soft Drinks (CSD) segment dominated the market for Beverage Multipack Shrink Film in 2022. Water and carbonated soft drinks are the major contributing segment in the overall demand for shrink film packaging owing to the constant growth in demand for mineral water and carbonated drinks. Additionally, various designs of bottle wrapping have been introduced which also fuel the growth of this market.

Beverage Multipack Shrink Film Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Based on Regional Analysis, the Global Beverage Multipack Shrink Film Market is classified into North America, Europe, Asia Pacific, Latin America, the Middle East and Africa. The North American region has the greatest market share and is expected to grow at the highest CAGR over the forecast period of 2021. The industrial development in this region is all set to drive the demand for shrink film for beverage multipacks materials. Major players involved in this market are mainly concentrating on R&D initiatives and new product developments to cater to the needs of customers. Moreover, the booming petrochemical industry will directly impact the demand for shrink film for beverage multipacks over the foreseeable period.

Key Players

The “Global Beverage Multipack Shrink Film Market” study report will provide valuable insight with an emphasis on the global market including some of the major players are Berry Plastics Corporation, Sealed Air Corporation, Amcor, Coveris Holdings, Reynolds, Sigma Plastics, Clondalkin, Polyrafia, Crayex Corporation, Tri-Cor, Berry Plastics Corporation, RKW Group.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In June 2019, Coveris Holdings SA (Austria) confirmed that it had bought 100% of the shares of Dorset; UK-based Amberley Adhesive Labels Ltd.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Beverage Multipack Shrink Film Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in Global Beverage Multipack Shrink Film Market gauge the attractiveness of a certain sector, and assess investment possibilities.

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