The collation shrink film market is expected to reach a value of USD 4.3 billion in 2024, with a CAGR of 4.8% in the assessment period. By 2034, it is predicted to generate a revenue of USD 6.9 billion. In 2023, the industry stood at USD 4.1 billion, with a 4.2% Y-o-Y growth.

The packaging sector is witnessing rapid adoption of flexible packaging, which is now the second-largest component in the industry. Consumers are increasingly favoring flexible packaging over rigid options due to its barrier qualities, cost efficiency, lightweight nature, and convenience. This shift has positively impacted the industry, gaining significant traction.

Collation shrink films have been embraced by the shipping and logistics sectors for stability and safety throughout the supply chain process, further bolstering the trend. Additionally, as stringent regulatory frameworks against plastic waste emerge, the recyclability of flexible packaging has propelled adoption, leading manufacturers to embrace recyclable product offerings to align with this growing trend.

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Growing Use of Recycled Resins Boosts Collation Shrink Film Market

The collation shrink film market is experiencing a significant shift towards post-consumer recycled (PCR) films due to sustainability and efficiency considerations. This change is driven by rising environmental concerns associated with the extensive use of virgin plastic materials.

Organizations and countries are increasingly pressuring businesses to adopt more eco-friendly solutions, prompting manufacturers to explore alternative materials. PCR-based films are gaining traction due to their adherence to sustainability standards without compromising quality and efficiency. These films offer enhanced puncture resistance, tear strength, and elasticity compared to traditional PP-based films, making them the preferred choice in various industries. Manufacturers are focused on improving the quality of these films while reducing production costs to drive widespread adoption in stringent socio-economic geographies.

Rising Popularity of Collation Shrink Films for Ultimate Brand Advertising

Brand owners are increasingly attracted to collation shrink films as these provide stability and safety to products while maintaining visibility and a glossy appeal. This has led to greater adoption among manufacturers, particularly in the food and beverage industry, where packaged food items, bakeries, soft drinks, cans, and alcoholic and non-alcoholic drinks are prominently displayed. As consumer preferences for packaging quality and brand appeal continue to increase, the demand for products wrapped in shrink films with excellent aesthetic appeal is on the rise.

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Key Takeaways from the Global Collation Shrink Film Market

·       The collation shrink film market is anticipated to be worth USD 4.3 billion in 2024.

·       From 2024 to 2034, low-density polyethylene is expected to account for a CAGR of 4.4% CAGR in terms of material. 

·       India is estimated to showcase a CAGR of 5.7% in the forecast period.

·       The United States is expected to register a CAGR of 2.2% over the forecast period.

“Rising adoption of bundled or multiple products has led to the growing demand for convenient, safe, and efficient packaging solutions. Collation shrink films made of PCR and virgin plastic materials offer exceptional strength and stability. Food and beverage, personal care, and home care sectors are increasingly adopting these films to enhance aesthetic appeal in the retail sector.”- says a Future Market Insights (FMI) analyst.

Competitive Landscape

Scientex Berhad, Berry Global Inc., Napco National, Coveries Holdings SA, Plastotecnica SpA, Bolloré Group, Silvalac SA, Polipaks Ltd, Eurofilms Extrusion Limited, MURAPLAST d.o.o, Polystar Plastics Ltd, ITP-Industria Termoplastica Pavese, Advanced Flexible Packaging Co, Folplast, and Tilak Polypack Pvt. Ltd are some of the noticeable players in the market. The Tier 1 players hold 20 to 25% of the overall collation shrink film market.

Industry Update

·       In 2023, Malaysia’s company Scientex Berhad developed LDPE collation shrink films with 30% PCR resin for a globally recognized food and beverage firm.

Collation Shrink Film Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global market for collation shrink films, analyzing historical demand from 2019 to 2023 and forecast statistics for 2024 to 2034. The study reveals market growth projections by thickness (less than 25 microns, 25 to 50 microns, 50 to 100 microns, and above 100 microns), material (low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE), medium-density polyethylene (MDPE), high-density polyethylene (HDPE), polypropylene (PP), and other materials), application (bottles, cans, books and magazines, cartons, and other applications), end-use (food and beverage, cosmetics, personal care and home care, pharmaceuticals, transport and logistics, printing and publishing, and others), and key regions.