Polyolefin Shrink Film Market Size

SkyQuest Technology's Polyolefin shrink film market size, share and forecast Report is based on the analysis of market data and Industry trends impacting the global Polyolefin Shrink Film Market and the revenue of top companies operating in it. Market Size Data and Statistics are based on the comprehensive research by our Team of Analysts and Industry experts.

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.

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FAQs

Global Polyolefin Shrink Film Market size was valued at USD 8.6 Billion in 2023 and is poised to grow from USD 8.92 Billion in 2024 to USD 11.93 Billion by 2032, growing at a CAGR of 3.7% during the forecast period (2025-2032).

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. 'Exxon Mobil Corporation', 'DM PACK SRL', 'Vibgyor International', 'Plásticos Retráctiles, S.L.', 'Amcor Plc', 'Berry Global Inc.', 'Allen Plastic Industries Co., Ltd.', 'FlexiPack', 'SABIC', 'Bonset America Corporation ', 'Clysar', 'Ultimate Flexipack Limited ', 'Intertape Polymer Group', 'Kyung Won Chemical Co., Ltd.', 'Sigma Plastics Group'

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.

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.

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.

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Global Polyolefin Shrink Film Market
Polyolefin Shrink Film Market

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