Market Overview:
The global shrink wrappers market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to factors such as rising demand for packaged food and beverages, increasing disposable income, and technological advancements in shrink wrappers. Based on type, the global shrink wrappers market is segmented into single turntable and dual turntable. The dual turntable segment is expected to grow at a higher CAGR than the single turntable segment during the forecast period from 2018 to 2030. This can be attributed to its ability to wrap products faster than single-turntable machines. Based on application, the global shrink wrappers market is divided into dairy, beverage & drinks, and others (including bakery items, meat products etc.). The beverage & drinks segment accounted for majority of the share in terms of revenue in 2017 and this trend is projected continue during the forecast period from 2018to 2030 owingto high demand for packaged beverages acrossthe globe .
Product Definition:
A shrink wrapper is a packaging machine that form-fits a product to be wrapped in film. The product is inserted into an open end of the machine and as the film advances around the product, it is heated and shrinks tightly around the product.
Single Turntable:
Single turntable is a device used for shrinking packages during the manufacturing process. It is also known as one-side turntable or single-sided turntable. The product has several advantages such as it can be used in both horizontal and vertical positions, it requires less space, and lastly it offers ease of use to the operators.
Dual Turntable:
The dual turntable is a device used to position both the shrink and heat sealers at the same time. It helps in wrapping and shrinking multiple items at a time which reduces production downtime, increases throughput, and ensures uniform product quality.
Application Insights:
The beverage and drinks application segment accounted for the largest revenue share of over 30% in 2017. The growth is attributed to the increasing consumption of packaged drinking water, soft drinks, juices and other beverages among consumers across the globe. Consumers are increasingly opting for shrink wrapping machines as they offer ease of use and efficient packaging solutions while maintaining high standards.
Dairy products such as cheese, butter & margarine along with frozen desserts such as ice creams are some of the popular dairy products that require a special wrapping solution to maintain their freshness until delivery. Shrink wrap offers an effective way to seal dairy products so that they remain fresh until their expiry date which helps in improving customer retention rates leading to a positive impact on industry growth.
Regional Analysis:
Asia Pacific dominated the global shrink wrapping market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing industrialization, rising population, and rapid urbanization. Moreover, China has emerged as a major packaging manufacturer owing to low labor cost coupled with easy access to raw materials. This trend is projected to drive demand for shrink wrap products in this region over the forecast period.
Europe also held a significant share of global revenue in 2017 due primarily on growing demand from beverage & drinks industry for metal cans used for carbonated soft drinks such as beer and mineral water such as Perrier and San Pellegrino (Italy). Europe was followed by North America which accounted for just above 20% of total market share owing mainly on high consumption volume from U.S.
Growth Factors:
- Increasing demand for packaged food products: The global packaged food market is expected to grow at a CAGR of 5.4% from 2016 to 2021. This growth is driven by the increasing urbanization and changing lifestyles of consumers, who are preferring convenient and ready-to-eat food products.
- Rising demand for shrink wrappers in the e-commerce sector: The e-commerce sector is growing rapidly across the world, with online retail sales reaching trillion by 2020. This growth is driving the demand for shrink wrappers, as they are essential for protecting goods during shipping and preventing theft or damage during transit.
- Growing popularity of tamper evident packaging: Tamper evident packaging helps protect against product tampering and fraud, which has been on the rise in recent years due to increased security threats worldwide. Shrink wrappers that provide tamper evidence are thus becoming increasingly popular among consumers and businesses alike.
Scope Of The Report
Report Attributes
Report Details
Report Title
Shrink Wrappers Market Research Report
By Type
Single Turntable, Dual Turntable
By Application
Dairy, Beverage & Drinks
By Companies
Millwood, Coesia IPI, Douglas Machine, Crawford Packaging, Texwrap, Quick Pak Inc, Millwood
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
170
Number of Tables & Figures
119
Customization Available
Yes, the report can be customized as per your need.
Global Shrink Wrappers Market Report Segments:
The global Shrink Wrappers market is segmented on the basis of:
Types
Single Turntable, Dual Turntable
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Dairy, Beverage & Drinks
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Millwood
- Coesia IPI
- Douglas Machine
- Crawford Packaging
- Texwrap
- Quick Pak Inc
- Millwood
Highlights of The Shrink Wrappers Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Single Turntable
- Dual Turntable
- By Application:
- Dairy
- Beverage & Drinks
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Shrink Wrappers Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Shrink Wrappers are a type of packaging that is used to protect products from damage during shipping and storage. The wrapper is made of a strong paper or plastic material, and it is often shrink-wrapped around the product. The shrink wrap seals the product inside the wrapper, preventing moisture and other contaminants from entering the product.
Some of the key players operating in the shrink wrappers market are Millwood, Coesia IPI, Douglas Machine, Crawford Packaging, Texwrap, Quick Pak Inc, Millwood.
The shrink wrappers market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Shrink Wrappers Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Shrink Wrappers Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Shrink Wrappers Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Shrink Wrappers Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Shrink Wrappers Market Size & Forecast, 2018-2028
4.5.1 Shrink Wrappers Market Size and Y-o-Y Growth
4.5.2 Shrink Wrappers Market Absolute $ Opportunity
Chapter 5 Global Shrink Wrappers Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Shrink Wrappers Market Size Forecast by Type
5.2.1 Single Turntable
5.2.2 Dual Turntable
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Shrink Wrappers Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Shrink Wrappers Market Size Forecast by Applications
6.2.1 Dairy
6.2.2 Beverage & Drinks
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Shrink Wrappers Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Shrink Wrappers Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Shrink Wrappers Analysis and Forecast
9.1 Introduction
9.2 North America Shrink Wrappers Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Shrink Wrappers Market Size Forecast by Type
9.6.1 Single Turntable
9.6.2 Dual Turntable
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Shrink Wrappers Market Size Forecast by Applications
9.10.1 Dairy
9.10.2 Beverage & Drinks
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Shrink Wrappers Analysis and Forecast
10.1 Introduction
10.2 Europe Shrink Wrappers Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Shrink Wrappers Market Size Forecast by Type
10.6.1 Single Turntable
10.6.2 Dual Turntable
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Shrink Wrappers Market Size Forecast by Applications
10.10.1 Dairy
10.10.2 Beverage & Drinks
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Shrink Wrappers Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Shrink Wrappers Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Shrink Wrappers Market Size Forecast by Type
11.6.1 Single Turntable
11.6.2 Dual Turntable
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Shrink Wrappers Market Size Forecast by Applications
11.10.1 Dairy
11.10.2 Beverage & Drinks
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Shrink Wrappers Analysis and Forecast
12.1 Introduction
12.2 Latin America Shrink Wrappers Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Shrink Wrappers Market Size Forecast by Type
12.6.1 Single Turntable
12.6.2 Dual Turntable
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Shrink Wrappers Market Size Forecast by Applications
12.10.1 Dairy
12.10.2 Beverage & Drinks
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Shrink Wrappers Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Shrink Wrappers Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Shrink Wrappers Market Size Forecast by Type
13.6.1 Single Turntable
13.6.2 Dual Turntable
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Shrink Wrappers Market Size Forecast by Applications
13.10.1 Dairy
13.10.2 Beverage & Drinks
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Shrink Wrappers Market: Competitive Dashboard
14.2 Global Shrink Wrappers Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Millwood
14.3.2 Coesia IPI
14.3.3 Douglas Machine
14.3.4 Crawford Packaging
14.3.5 Texwrap
14.3.6 Quick Pak Inc
14.3.7 Millwood
