USD 8.6 billion
Polyolefin Shrink Film Market Size, Share, and Growth Analysis
Polyolefin Shrink Film Market By Product Type (Polypropylene (PP), Polyethylene (PE)), By Film Thickness (Below 25 microns, 25-50 microns), By Closure Type (Heat Sealed, Cold Sealed), By Application, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG15A2526 |
Region:
Global |
Published Date: March, 2025
Pages:
191
|Tables:
65
|Figures:
70
Format -
Polyolefin Shrink Film Market Insights
Global Polyolefin Shrink Film Market size was valued at USD 8.6 billion in 2023 and is poised to grow from USD 8.95 billion in 2024 to USD 12.35 billion by 2032, growing at a CAGR of 4.1% during the forecast period (2025-2032).
Rapid expansion of the food & beverage industry, advancements in packaging, boom in e-commerce industry, growing emphasis on sustainability, and emphasis on improving retail presentation of products are slated to boost the sales of polyolefin shrink film going forward.
The food and beverage industry is expanding rapidly as the demand for packaged foods among consumers is rising on a global level. Extensive use of polyolefin shrinks films in food and beverage packaging owing to their excellent clarity, strength, and ability to conform to various shapes is driving its adoption going forward. Surging emphasis on using sustainable packaging materials to reduce plastic waste and improve sustainability is also forecasted to bolster the adoption of polyolefin shrink film in the future.
The need for durable and tamper-proof packaging solutions from the booming e-commerce industry is also estimated to present new opportunities for polyolefin shrink film providers. Continuous innovations in packaging technology have led to the development of high-performance polyolefin shrink films with enhanced properties such as improved shrinkage rates, clarity, and strength. Lower environmental impact of polyolefin shrink films is also anticipated to favor the global polyolefin shrink film market growth in the long run.
High emphasis on improving visual appeal of products in retail settings is also expected to favor the demand for adoption of polyolefin shrink films owing to their high clarity and gloss to enhance product appearance, making them more appealing to consumers. On the contrary, fluctuations in raw material pricing, competition from alternative materials, technical limitations, challenges in recycling infrastructure, and impact of economic downturns are estimated to hurt the sales of polyolefin shrink film across the study period and beyond.
Key Market Attributes
In February 2024, Intertape Polymer Group (IPG), a renowned packaging products company based in the United States announced the launch of a new polyolefin shrink film. ExlfilmPlus PCR features 35% recylced content and fulfils the demand for eco-friendly packaging solutions without compromising on quality of performance for end users. The new offering features 10% certified post-consumer recycled (PCR) content and 25% certified post-industrial recycled (PIR) content. The new film is also compliant with high standards of shrink, clarity, strength, and value.
In February 2024, Innovia Films, a leading supplier of biaxially-oriented polypropylene films and the division of CCL Industries launched a new polyolefin shrink film. The new new floatable polyolefin shrink film is designed for light-sensitive products. RayoFloat white APO (WAPO) is being manufactured at Innovia’s European facility in Płock, Poland. The new film is designed to facilitate better separation of labels from polyethylene terephthalate (PET) bottles and other plastic containers during recycling. Multiple dairy, food supplements, nutritional products, and cosmetics suppliers can utilize this novel offering and switch to transparent PET bottles for their light-sensitive products for easy recycling.
In October 2024, Innovia Films announced the extension of its new floatable polyolefin shrink film range to support rigid packaging as well. The expanded range supports products in PET, HDPE and PP recycling streams. Through this move, Innovia has expanded its business and revenue generation potential to strengthen its share in the global polyolefin shrink film industry.
Enhancing sustainability and application scope of polyolefin shrink film is projected to be the prime focus of almost all market players around the world. Use of recycled content or advanced recycling technologies is expected to be consistent among all types of polyolefins shrink film manufacturers in the long run.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
General
Fastest Growth
Cross-linked
Growth Rate
4.1% CAGR
Global Polyolefin Shrink Film Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Polyolefin Shrink Film Market Segments Analysis
Global Polyolefin Shrink Film Market is segmented by Product Type, Film Thickness, Closure Type, Application and region. Based on Product Type, the market is segmented into Polypropylene (PP), Polyethylene (PE), Ethylene Vinyl Acetate (EVA), Polyamide (PA) and Polyethylene Terephthalate (PET). Based on Film Thickness, the market is segmented into Below 25 microns, 25-50 microns, 50-100 microns and Above 100 microns. Based on Closure Type, the market is segmented into Heat Sealed, Cold Sealed, Impulse Sealed and Ultrasonic Sealed. Based on Application, the market is segmented into Food and Beverages Packaging, Pharmaceutical Packaging, Industrial Packaging, Construction and Building Materials and Consumer Durables Packaging. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Type
The general segment is estimated to account for a prominent chunk of the global polyolefin shrink film market share going forward. High cost-effectiveness of general polyolefin shrink films is a major factor cementing its dominance across multiple applications. Surging demand for affordable packaging solutions around the world and the ability of general polyolefin shrink film to provide a perfect balance of affordability and performance are also expected to bring in more revenue from this segment over the coming years. Good optical properties and low shrinkage rates are also other benefits of general polyolefin shrink films that are helping this segment maintain its lead in the global industry landscape.
Meanwhile, the demand for cross-linked polyolefin shrink films is slated to rise at a notable pace over the coming years. Higher clarity, improved puncture resistance, and better sealing capabilities offered by cross-linked polyolefin shrink films are forecasted to help this segment create new business scope for market players in the long run. Moreover, surging demand for high-performance packaging solutions from multiple industry verticals is also expected to favor the adoption of cross-linked polyolefin shrink films going forward. Higher heat resistance offered by cross-linked polyolefin shrink films is also a key factor promoting the sales of polyolefin shrink films in multiple applications.
Analysis by End Use
The food and beverage segment is estimated to bring in the most revenue for all companies in the global polyolefin shrink film industry going forward. Rising disposable income of people and adoption of busy lifestyles has led to a major surge in demand for packaged and ready-to-eat food products. Polyolefin shrink films play a crucial role in the packaging of multiple food and beverage products thereby making them a mainstay in this industry. Growing investments in expansion of food and beverage industry and high emphasis on extending shelf life of products are also expected to offer new opportunities for polyolefin shrink film suppliers in the future.
On the other hand, the demand for industrial packaging is forecasted to rise at a steady CAGR across the study period. Growing demand for robust, affordable, and sustainable packaging solutions from multiple industrial organizations is helping create new opportunities for polyolefin shrink film companies. Polyolefin shrink films are capable of withstanding harsh conditions without compromising visibility thereby making them a preferred choice for packaging of electronics, pharmaceuticals, and consumer goods. Polyolefin shrink film also allows companies to bundle multiple items together without compromising product integrity, which helps them promote their adoption.
Global Polyolefin Shrink Film Market By Type
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Polyolefin Shrink Film Market Regional Insights
Asia Pacific is estimated to secure the top spot when it comes to the global polyolefin shrink film market share in the future. Rapid industrialization and urbanization are estimated to emerge as the primary factors cementing the dominance of this region. Evolving consumer preferences and rising sales of packaged foods and consumer goods are helping boost sales of polyolefin shrink film in this region.
China is forecasted to account for a prominent share of polyolefin shrink film demand in Asia Pacific. The presence of a robust manufacturing sector, surging demand for sustainable packaging, and expanding food & beverage industry are predicted to help this country lead revenue generation for polyolefin shrink film suppliers. India and Japan are also slated to be other opportune countries in this region.
The demand for polyolefin shrinks films in North America is anticipated to rise at a steady pace across the forecast period. High emphasis on food safety, efforts of food manufacturers on enhancing retail presentation of products, and quick adoption of advanced packaging technologies are helping create new opportunities in this region.
The United States is slated to be the most rewarding market for polyolefin shrink film suppliers in this region owing to rapid expansion of the e-commerce industry, presence of multiple food and beverage companies, and high consumer spending potential.
Europe is also estimated to emerge as a highly opportune market for polyolefin shrink film companies in the future. Imposition of stringent food safety regulations, presence of multiple packaging solution providers, and rising emphasis on sustainability are governing the sales of polyolefin shrink film in this region.
Germany is forecasted to spearhead the sales of polyolefin shrink films in this region owing to the presence of a strong pharmaceutical industry, high preference for sustainable packaging materials, and rising consumer preference for packaged and convenience food products. The United Kingdom and France are also forecasted to be highly opportune markets in the European region through 2032.
Rapid economic development of countries in the Latin American region is setting the tone for high polyolefin shrink film demand going forward. Rising industrialization, evolving consumer preferences, growing packaged food consumption, and investments in expansion of retail sector are slated to boost the sales of polyolefin shrink film in this region. Brazil and Argentina are forecasted to be the most rewarding countries for polyolefin shrink film vendors looking to make a mark in the Latin American region in the long run.
Global Polyolefin Shrink Film Market By Region
- Largest
- Fastest
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Polyolefin Shrink Film Market Dynamics
Drivers
High Recyclability and Low Environmental Impact
- Polyolefin shrink films are highly recyclable and thereby favored in multiple industry verticals for their lower carbon footprint as compared to other materials. Growing emphasis on sustainability in organizations and the launch of efforts to lower environmental impact of businesses are slated to bolster the global polyolefin shrink film market outlook through 2032 and beyond.
Versatility and Cost-effectiveness
- Polyolefin shrink films are highly versatile and cost-effective packaging materials used extensively in industry verticals such as pharmaceuticals, electronics, and personal care. Polyolefin shrink films provide strong seals and conform to irregular shapes without compromising integrity thereby helping them emerge as a popular packaging material on a global level.
Restraints
Fluctuations in Raw Material Pricing
- Polyolefin shrink film production is highly dependent on petrochemical derivatives such as polyethylene and polypropylene. All these raw materials required for production of polyolefin shrink films are subject to fluctuations due to trade bans, supply chain disruptions, geopolitical tensions, etc. thereby affecting profit margins for manufacturers and potentially leading to increased prices for end-users.
Competition from Alternative Packaging Materials
- Alternative packaging materials such as biodegradable films, paper-based packaging, and other plastic materials are widely available. The specific benefits of these alternatives such as better biodegradability or affordability are expected to favor their adoption and impede the sales of polyolefin shrink films in the long run.
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Polyolefin Shrink Film Market Competitive Landscape
Polyolefin shrink film companies should focus on launching innovative new films to maximize their business scope. Targeting the sustainability trend can help polyolefin shrink film providers boost their sales potential. Investing R&D of novel polyolefin shrink film materials can also present new opportunities for market players as this global polyolefin shrink film market analysis in the long run.
Top Player’s Company Profiles
- Exxon Mobil Corporation (United States)
- DM PACK SRL (Italy)
- Vibgyor International (India)
- Plasticos Retractiles, S.L. (Spain)
- Amcor Plc (Switzerland)
- Berry Global Inc. (United States)
- Allen Plastic Industries Co., Ltd. (Taiwan)
- FlexiPack (Thailand)
- Bonset America Corporation (United States)
- Clysar (United States)
- Ultimate Flexipack Limited (India)
- Sigma Plastics Group (United States)
Recent Developments
- In March 2024, ExxonMobil Asia Pacific Research & Development Co., Ltd collaborated with Shantou Mingca Packaging Co. Ltd. For the development and launch of next generation of polyolefin shrink film. The novel double bubble Polyethylene-based Shrink Film (PEF) solution is suitable for multiple applications and manufactured using ultra-low density Exceed™ XP performance polyethylene.
- In October 2024, Clysar, a leading packaging company from the United States announced the launch of a new multi-purpose shrink film. Clysar EV-HPG™ is designed for companies looking for sustainable alternatives to non-recyclable shrink packaging as it utilizes 30% Clysar® ReClaim™, a certified pre-consumer recycled (PCR) content resin.
- In November 2023, Duo, a packaging company collaborated with Danish plastic recycler called Plastix to announce the launch of a new shrink film made from recycled plastic material made from waste fishing gear. The new offering is expected to be made from 98% maritime waste like fishing nets and ropes.
Polyolefin Shrink Film Key Market Trends
- Targeting Emerging Countries: Polyolefin shrink film companies should focus on emerging countries capitalizing on their rapid industrialization and urbanization. Growing sales of packaged goods and the need for cost-effective and sustainable packaging solutions for the same are helping emerging countries boost the demand for polyolefin shrink films through 2032.
- Innovations in Film Production: Polyolefin shrink film manufacturers are expected to opt for advanced extrusion and polymerization technologies to create polyolefin shrink films with superior properties, such as enhanced clarity, strength, and shrinkage control thereby making this an essential polyolefin shrink film market trend for companies looking to expand their application scope across multiple industry verticals.
Polyolefin Shrink Film Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, surging demand for sustainable packaging and high versatility of polyolefin shrink films for multiple applications are slated to boost the sales of polyolefin shrink films in the future. However, competition from alternative packaging materials and fluctuations in raw material pricing are forecasted to impede the adoption of polyolefin shrink films in the future. The Asia Pacific region is slated to account for the dominant share of the global polyolefin shrink film industry owing to rising demand for packaged food products and high emphasis on adoption of sustainable packaging. Innovations in film production and targeting emerging countries are estimated to emerge as key opportunities for all types of companies looking to make a mark in the future.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 8.6 billion |
| Market size value in 2032 | USD 12.35 billion |
| Growth Rate | 4.1% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Polyolefin Shrink Film Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Polyolefin Shrink Film Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Polyolefin Shrink Film Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Polyolefin Shrink Film Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Polyolefin Shrink Film Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Polyolefin Shrink Film Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Polyolefin Shrink Film Market Report Snapshots
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